So far this year, Malaysian equity prices are up more than 60 percent.

But even here the stock funds enjoyed their best sales when equity prices were rising in the spring and summer.

In other words, will corporate earnings need years to catch up to today's equity prices?

In the ensuing three months, Russian equity prices increased 50.4 percent.

Experts agree that such volatility in equity prices - up and down - is likely to continue.

And that could put further pressure on equity prices when the stock market reopens this morning.

It's been more than six years since equity prices peaked, in early 2000.

Analysts also said that equity prices continued under pressure because of a decline in the bond market.

The fact is, something other than earnings has been propelling equity prices for years.

But that was when equity prices were going through the roof.