Latest Posts By richtan
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| 10-Aug-2009 18:45 |
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Most - S-Chip get ready to get 10-20% Price Hike
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China Economy May Grow 9.4% This Year, Goldman Says (Update2) By Shamim Adam Aug. 10 (Bloomberg) -- Goldman Sachs Group Inc. raised its forecast for China’s economic growth this year to 9.4 percent, citing “strong momentum” and the likelihood that the government will delay tightening policy. The previous estimate was for a gain of 8.3 percent from a year earlier, Hong Kong-based economist Michael Buchanan said in an e-mailed report today. The economy may expand 11.9 percent next year, he said. “China is closer to a point at which it should be equally worried about tightening too late as it is about tightening too early,” the economist said. Policy makers won’t move quickly because they remain “very cautious” against the backdrop of weakness in the global economy, he said. China’s gross domestic product expanded 7.9 percent in the second quarter from a year earlier, rebounding from the weakest growth in almost a decade, as a 4 trillion yuan ($585 billion) stimulus package and record lending took effect. Premier Wen Jiabao reiterated in a statement yesterday that monetary and fiscal policy will remain unchanged because of problems including sliding export demand and industrial overcapacity. The government wants to avert bubbles in stocks and property without choking off the recovery. Surging Property Sales Property sales surged 60 percent by value in the first seven months, the statistics bureau said in a statement on its Web site today. Sales accelerated after a 53 percent gain in the first half from a year earlier. The Shanghai Composite Index has climbed 78 percent this year. Banks extended $1.1 trillion of loans in the first half, triple the amount a year earlier, after the People’s Bank of China scrapped quotas limiting lending and urged support for the stimulus plan. A 9.4 percent increase in gross domestic product would top the government’s 8 percent target for creating jobs and preserving social stability after slumping global demand slashed exports. The economy grew 9 percent last year and 13 percent in 2007. China is set to release July economic data tomorrow. Second-quarter growth was “impressively above trend,” and momentum remains strong, Buchanan said. Economies in Asia excluding Japan will grow 5.6 percent this year, and 8.6 percent in 2010, Goldman Sachs said, lifting its forecasts. Goldman left its forecast for India’s growth unchanged in the current fiscal year, and raised it to 7.8 percent for the 12 months ending March 2010. To contact the reporter on this story: Shamim Adam in Singapore at sadam2@bloomberg.net Last Updated: August 10, 2009 06:21 EDT |
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| 10-Aug-2009 18:42 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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| 10-Aug-2009 18:41 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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| 09-Aug-2009 22:57 |
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Most - S-Chip get ready to get 10-20% Price Hike
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Good news for infrastructure stock like Midas: China Will Maintain Stimulatory Policies, Wen Says (Update1) By Bloomberg News Aug. 9 (Bloomberg) -- China will maintain its current macroeconomic policy stance aimed at bolstering domestic spending as the nation continues to experience fallout from the global recession, Premier Wen Jiabao said. The effect of some of China’s stimulus policies will weaken over time, and the economy is still under pressure from declining demand for exports, Wen said in a statement on the central government’s Web site today. China’s 4 trillion yuan ($586 billion) stimulus plan, which is funding the construction of roads, railways and airports, coupled with record lending helped the economy recover in the second quarter from the slowest growth rate in almost a decade. Government spending and the credit boom have countered a collapse in trade and aided global businesses from Semiconductor Manufacturing International Corp. to General Motors Co. “The reason that we are sticking to the proactive fiscal policy and moderately loose monetary policy is because we are facing many difficulties and challenges,” Wen said. The comments were made during a three-day trip to east China’s Jiangsu province that ends today. The world’s third-biggest economy expanded 7.9 percent in the second quarter from a year earlier, accelerating from a 6.1 percent pace in the first three months of 2009. In contrast, exports fell for an eighth month in June as the global recession cut demand, highlighting the economy’s dependence on stimulus spending to revive growth. Official View Today’s statement by Wen follows comments by three economic officials at a joint press conference two days ago, and may help to ease concern that China could remove stimulus efforts adopted last year amid a rebound in stock and property prices and a surge in lending. The Shanghai Composite Index of shares has climbed 79 percent this year. Zhu Zhixin, vice chairman of the National Development and Reform Commission, said domestic demand in China is still weak and consumption is dependent on government stimulus. The People’s Bank of China doesn’t see any inflationary pressure in the economy and assets prices are not a factor taken into consideration when setting policies, deputy governor Su Ning said at the same briefing. “The main message is the government will keep the policy stance loose, at least for now,” Goldman Sachs Group Inc. economists Yu Song and Helen Qiao wrote in a report dated Aug. 7. “This should clear the recent confusions in the market about the government’s policy stance and preclude the possibilities of hikes to interest rates, reserve requirement ratios in the near term,” they wrote. China’s central bank has kept interest rates and reserve requirements for banks unchanged this year after cutting them in the final four months of last year to counter the effects of the global credit crisis. The People’s Bank of China, in an Aug. 5 statement, reiterated its pledge to keep the yuan stable at a “reasonable and balanced” level. The central bank scrapped quotas limiting lending in November 2008 to support the government’s stimulus package. --Zhang Dingmin. Editors: Victoria Batchelor, Alex Devine. To contact the Bloomberg News staff for this story: Zhang Dingmin in Beijing at Dzhang14@bloomberg.net Last Updated: August 9, 2009 04:03 EDT |
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| 09-Aug-2009 22:49 |
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Market News that affect STI
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Tyson Says U.S. Slump Easing as Stimulus Takes Effect (Update1) By Shamim Adam and Liza Lin Aug. 9 (Bloomberg) -- U.S. data suggest the rate of the economic downturn has decreased and the impact of the nation’s stimulus plan should increase this quarter, said Laura Tyson, an outside adviser to President Barack Obama. There’s no reason for a second package right now, she said in an interview in Kuala Lumpur today. It’s too early to say the improvement in July jobs data is a trend, as the economy still faces risks including declining housing values and an overhang of unsold homes, she said, adding that the outlook is difficult to forecast. Tyson said on July 7 the U.S. should consider drafting a second stimulus package focusing on infrastructure projects because the $787 billion approved in February was “a bit too small.” She told CNBC three days later that it’s premature to plan for a second stimulus package. Since then, the economy has shown signs of improvement. The pace of U.S. job losses slowed more than forecast in July and the unemployment rate dropped for the first time in more than a year to 9.4 percent. Obama said the unemployment numbers indicate “the worst may be behind us” for the recession. The Commerce Department reported July 31 that U.S. gross domestic product shrank at a better-than-forecast 1 percent annual pace in the second quarter after a 6.4 percent drop in the prior three months. Tyson, a professor at the University of California’s Walter A. Haas School of Business, also said the economy is facing deflationary pressures. To contact the reporter on this story: Shamim Adam in Kuala Lumpur at sadam2@bloomberg.net; Liza Lin in Kuala Lumpur at llin15@bloomberg.net Last Updated: August 9, 2009 07:44 EDT |
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| 08-Aug-2009 23:12 |
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Market News that affect STI
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U.S. Job Cuts Slow, Unemployment Rate Falls as Recession Eases By Shobhana Chandra Aug. 8 (Bloomberg) -- The pace of U.S. job losses slowed more than forecast last month and the unemployment rate dropped for the first time in more than a year, the clearest signs yet that the worst slump since the Great Depression may be ending. Payrolls fell by 247,000, after a 443,000 loss in June, the Labor Department said yesterday in Washington. The jobless rate unexpectedly dropped to 9.4 percent from 9.5 percent. The figures sent stock indexes soaring to their highs for the year and 10-year Treasuries to their worst week since 2003. At the same time, the White House warned the jobless rate is still likely to reach 10 percent, and with companies from Boeing Co. to Verizon Communications Inc. continuing to cut costs, any rebound in hiring may not come until 2010. “History will be written that the recession ended in the summer of 2009,” Alan Blinder, an economics professor at Princeton University, said in a Bloomberg Television interview yesterday. Blinder, vice chairman of the Federal Reserve from 1994 to 1996, added that while “we’re past the bottom” in terms of economic contraction, in employment “we’re still going downhill, but downhill at a slower rate.” The Standard & Poor’s 500 Stock Index closed up 1.3 percent at a 10-month high of 1,010.48 yesterday in New York. The yield on the benchmark 10-year note climbed to 3.85 percent from 3.75 percent the prior day. The dollar climbed 1.2 percent to $1.4178 per euro and 2.2 percent to 97.53 yen. Obama Comments President Barack Obama, speaking at the White House hours after the jobs report, said the unemployment numbers indicate “the worst may be behind us” for the recession. Revisions added 43,000 to payrolls previously reported for June and May. The average losses of 331,000 in the past three months are less than half the pace of decline in the first quarter of this year. The latest numbers brought total jobs lost since the recession began in December 2007 to about 6.7 million, the biggest decline in any post-World War II recession. Jeffrey Frankel, who sits on the National Bureau of Economic Research’s business-cycle dating committee, said the report indicates the recession may have ended in July as the labor market improved. “I haven’t felt that there have been any previous months for saying this will turn out to be the bottom, but this one is definitely a candidate,” Frankel said yesterday by telephone. Forecasts Payrolls were forecast to drop 325,000, according to the median of 82 estimates in a Bloomberg News survey. Job losses peaked at 741,000 in January, the most since 1949. The jobless rate was projected to rise to 9.6 percent. A separate Bloomberg survey in July showed the rate may top 10 percent by early next year and average 9.8 percent for all of 2010. Factory payrolls fell 52,000, the fewest in a year, after decreasing 131,000 in the prior month. That drop came even as the automobile industry added 28,200 jobs. The improvement in auto payrolls reflected the return of workers at General Motors Co. and Chrysler Group LLC, which have exited bankruptcy. Service industries, which include banks, insurance companies, restaurants and retailers, subtracted 119,000 workers after losing 220,000 in June. Retail payrolls fell by 44,100. Government payrolls rose by 7,000 after falling 48,000. The average work week grew to 33.1 hours in July from 33 hours in June. Average weekly hours worked by production workers increased to 39.8 hours, while overtime held at 2.9 hours. That brought the average weekly earnings up to $614.34. Workers’ average hourly wages rose 0.2 percent to $18.56 from June, and climbed 2.5 percent from July 2008. Consumer Spending Even so, economists predict consumer spending, which accounts for 70 percent of the economy, will be slow to gain speed. Wages and salaries fell 4.7 percent in the 12 months through June, the biggest drop since records began in 1960, according to Commerce Department data issued Aug. 4. Companies like Verizon and Boeing are still trimming expenses. New York-based telephone carrier Verizon last month said it may slash more than 8,000 jobs in the second half. Chicago-based Boeing, which is planning to eliminate about 10,000 workers, or 6 percent of its labor force, has agreed to allow some machinists to volunteer for a “layoff with benefits” to help mitigate job cuts, the International Association of Machinists and Aerospace Workers said July 28. ‘Challenging Times’ Emerson Electric Co., a maker of industrial equipment, will cut an additional 5,000 to 6,000 positions in the next few quarters, after it posted its third straight drop in quarterly earnings, the longest stretch since 2002. The St. Louis-based company has already eliminated 20,000 jobs. “Emerson is still seeing very difficult and challenging times around the world,” Chief Executive Officer David Farr said on an Aug. 4 conference call. Administration officials including Lawrence Summers, director of the White House National Economic Council, predict most new jobs resulting from Obama’s stimulus program will come only in 2010. The unemployment rate may not peak until the second half of 2010, Treasury Secretary Timothy Geithner said on ABC last week, even as the economy shows signs of improvement. To contact the reporter on this story: Shobhana Chandra in Washington schandra1@bloomberg.net Last Updated: August 8, 2009 00:00 EDT |
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| 08-Aug-2009 23:10 |
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Market News that affect STI
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| 08-Aug-2009 22:58 |
Midas
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Midas
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Hi shipper1, Many thanks also for your support, I m extremely touched by u, another true friend. Happy National Day to u n your family, enjoy the time with your family and temp put mkt aside.
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| 08-Aug-2009 22:55 |
Midas
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Midas
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Hi Chee Meng, Many thanks for your support, I m extremely touched by u, a true gentlemen. Happy National Day to u n your family, enjoy the time with your family and temp put mkt aside.
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| 08-Aug-2009 22:52 |
Midas
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Midas
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Comparing the 2, seems tat Midas is better, so obviously should justify higher prices right.
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| 08-Aug-2009 00:34 |
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DOW
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Obama Pleased by Job Numbers, Expects Rate to Rise (Update1) By Edwin Chen Aug. 7 (Bloomberg) -- The Obama administration is “pleased, but not satisfied” that the nation’s unemployment rate dipped to 9.4 percent last month and still expects it to hit 10 percent before a recovery takes hold, White House press secretary Robert Gibbs said. “We’re still losing jobs and we have work to do,” Gibbs said this morning. “Without seeing some genuine, positive, sustained job growth, you’ll likely to see the rate continue to go up.” President Barack Obama will make remarks on the economy at 1:30 p.m. Washington time from the White House. In his weekly radio address on Aug. 1, Obama said it will take “many more months” for the U.S. to shake off the recession. The Labor Department reported today that the unemployment rate dropped to 9.4 percent in July from 9.5 percent in June. Payrolls fell by 247,000 after a loss of 443,000 a month earlier. The nation has lost about 6.7 million jobs since the recession began in December 2007, the biggest decline in any economic slump since World War II. Obama is putting the economy back at the forefront of his remarks to the public as polls show it remains the top concern of Americans. At a fundraiser last night for Creigh Deeds, the Democratic candidate for governor in Virginia, Obama said his polices have “brought this economy back from the brink” of a depression. Stocks gained and Treasuries dropped after the jobs report stoked optimism for a recovery in the second half of the year. To contact the reporter on this story: Edwin Chen in Washington at echen32@bloomberg.net Last Updated: August 7, 2009 10:55 EDT |
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| 08-Aug-2009 00:30 |
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A or B
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Hehehe... My sympathy to tat moron/idiot whom enjoys giving me bad rating, I sympathise with him/her for accumulating bad karma for himself/herself and his/her next generation. This person is worse than a beast with no love and concern for their next generation, whereas tat bad rating does not cause me to lose an iota of blood, a pound of flesh or a single penny. See my below post
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| 08-Aug-2009 00:25 |
Midas
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Midas
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Hehehe... My sympathy to tat moron/idiot whom enjoys giving me bad rating, I sympathise with him/her for accumulating bad karma for himself/herself and his/her next generation. This person is worse than a beast with no love and concern for their next generation, whereas tat bad rating does not cause me to lose an iota of blood, a pound of flesh or a single penny. See my below post
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| 08-Aug-2009 00:10 |
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A or B
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A TA practitioner like me will never believe in buy n hold, simple logic, just pullout any long term chart (3 to ten years) and look at the roller coaster ride up and down, most charts look like a flame or mountain summit, if u were to buy at the foot or any point along the mountain/flame and hold long term, u may end up selling at the same price or even at a loss, unless u are extremely lucky to sell at the summit. In a nutshell, whether u make money or not depends on luck, but with TA skill, if u know how to spot reversal patterns, remember the 3 golden mantras (do a search on it), know when to cut-loss and let profits run with trailing stops, u make make more money, less those losses as TA is not infallible.
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| 07-Aug-2009 23:56 |
Midas
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Midas
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IMO, dun worry, I think it will be reached, but as a TA trader, I dun buy n hold and wait for 1.19, but trade the reversal signs to maximise my profits.
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| 07-Aug-2009 23:42 |
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DOW
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Below is my daily chart analysis for sharing and exchange pointers. My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA. If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by rating it as "bad post", accumulating for yourself and your next generation, "bad" karma for your "bad" deeds. If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR. 
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| 07-Aug-2009 23:29 |
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| 07-Aug-2009 23:21 |
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| 07-Aug-2009 23:06 |
Midas
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Midas
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Glad tat today, I gone bargain hunting and bot as much as I can at 83.5, though did not catch the low (no way to time n catch the low, if get is by luck). The reason I bot is the 15ema n 25ema had been providing very strong support since few months ago, but prepared to exit if reversal sign appears. Saw my post earlier:
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| 07-Aug-2009 22:43 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Ho Sei Liow!! Tues STI should go up, period definitely stop. Period will end, cannot last forever, otherwise bleed to death. Glad tat today gone bargain hunting, those apnic sell will regret n rush in to buy back, help push mkt higher.
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