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| 29-Jul-2009 10:13 |
Midas
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Midas
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This is good news for China's infrastructure stock like Midas as China's stimulus spending is more inclined to infrastructure spending like train networks: U.S., China Pledge to Sustain Stimulus, Rebalance World Growth By Rebecca Christie and Rob Delaney July 28 (Bloomberg) -- U.S. and Chinese economic leaders pledged to keep up stimulus efforts and to rein in trade and investment imbalances that contributed to the global crisis. “It is vitally important for China and the United States to see through their commitments to repair the financial system and lay the foundation for recovery,” Treasury Secretary Timothy Geithner said at the end of the first Strategic and Economic Dialogue talks under the Obama administration in Washington. China’s Vice Premier Wang Qishan said the two will press for an “expansion” of the recovery. While the gathering ended with little sign of disputes over the yuan and market access that surrounded talks in the Bush administration, analysts expressed skepticism whether the two governments can secure “balanced” growth. The U.S. pledged to curb the budget deficit and boost household savings, and China committed to rely less on overseas demand for its goods. “These statements are made in good faith, but the issue is that you can’t just wave a magic wand and get there overnight,” said Huw McKay, senior international economist at Westpac Banking Corp. in Sydney. “These things take long periods of time.” The two sides indicated that while economic data improved in recent months, a self-sustaining rebound has yet to emerge. In the U.S., President Barack Obama is implementing a $787 billion fiscal stimulus and Federal Reserve Chairman Ben S. Bernanke doubled the central bank’s balance sheet to about $2 trillion. China has a 4 trillion yuan ($585 billion) stimulus. ‘Strong’ Responses “Both countries pledged to maintain their strong policy responses until recovery is secured,” the U.S. Treasury said in a statement. Zhou Xiaochuan, the Chinese central bank governor, said China will wait for the U.S. to begin to pull back on its stimulus measures before deciding whether it will do the same. “If we see that the U.S. starts to exit its expansionary fiscal and monetary policies, then China will see what it will do at that time,” Zhou said at a press briefing today. The People’s Bank of China governor also said that “I believe that the Federal Reserve of the U.S. will make appropriate arrangements to prevent high inflation.” The U.S. Treasury highlighted China’s commitments to liberalize business and investment rules, including letting international banks underwrite Chinese bonds, raising the threshold for foreign direct investments that need government approval, and loosening limits on interest rates. ‘Sustainable’ Deficit China’s officials reiterated their concern at the record American budget deficit, and were told by Obama’s aides that there’s a plan to achieve a “sustainable” deficit by 2013. Their comments today indicated they accepted the U.S. presentation. “Credible steps will be taken by the U.S. to control the deficit,” China’s Finance Minister Xie Xuren said at a press briefing today. “The Treasury secretary stated clearly that they are placing a lot of importance on this issue.” At stake is sustaining demand for U.S. debt from China, the largest foreign holder of Treasuries. The federal deficit is on course to reach $1.8 trillion this year; China’s investments in Treasuries reached $801.5 billion in May, about 100 percent more than at the start of 2007. “We are joined at the hip with China and that means both countries need to be sensitive to each other’s needs, each other’s problems,” Mickey Kantor, a former U.S. Trade Representative, said in an interview from Los Angeles. Yuan Policy China’s Treasuries holdings also are the result of holding down the value of the yuan, a policy that U.S. lawmakers have charged is designed to provide a subsidy for its exports. The yuan has hovered around 6.83 per dollar since July last year after gaining about 21 percent since China lifted a strict peg to the dollar in July 2005. Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, told reporters yesterday that “compared with previous meetings” between Chinese and U.S. officials, “the U.S. side doesn’t lay as much emphasis on renminbi exchange-rate reform and opening of capital markets.” The yuan is a denomination of the renminbi. The effort to produce more “balanced” growth comes after Bernanke and other officials blamed imbalances in trade, spending and investment for helping spark the crisis. Trade, Investment U.S. consumers relied on borrowing to finance their purchases, contributing to an export boom from Asia. As China and other Asian nations accumulated dollars from trade surpluses, they bought bonds and depressed global yields. Lower borrowing costs helped stoke the housing and credit booms that turned to bust in 2007. China and the U.S. will aim to “bring about more balanced and sustainable global economic growth after a global recovery is firmly established,” the two sides said in a fact sheet on the economic side of the talks. “Building a consumption-based economy is overdone and overhyped” with regard to China, Donald Straszheim, who heads Straszheim Global Advisors Inc. in Los Angeles. “It will take a generation, not just a few years, for China’s consumer sector to really develop.” In the U.S., officials will take steps to reduce its current-account deficit, boost private savings and cut its budget deficit once a recovery is “firmly established,” Geithner said. The U.S. savings rate reached 6.9 percent in May, the highest level since 1993, as Americans consumers curtailed spending. Geithner said he expects those gains to be part of a more permanent shift. “We’re more likely to decide that these changes we’ve seen in private savings already are durable,” Geithner said. “We’ve learned some tough lessons as a country. I think the basic lesson, the importance of living within our means, is best for the country, and at the household level, is an important, necessary lesson.” To contact the reporters on this story: Rebecca Christie in Washington at Rchristie4@bloomberg.net; Robert Delaney in Washington at robdelaney@bloomberg.net Last Updated: July 28, 2009 21:37 EDT |
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| 29-Jul-2009 10:05 |
Others
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Market News that affect STI
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Nikkei still  up strongly:
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| 29-Jul-2009 09:56 |
China Hongxing
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Good News for China Hongxin
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Hi phil1314, Many thanks for expressing your appreciation, but remember to dyodd as I might also be wrong at times.
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| 29-Jul-2009 09:48 |
Midas
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Midas
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Bollinger band looks had constricted and now starting to expand with price on upward bias, just my view, dyodd | ||||
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| 29-Jul-2009 09:09 |
China Hongxing
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Good News for China Hongxin
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I switched from CHHX into Midas and further increased my stake in Midas, but dyodd
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| 28-Jul-2009 14:39 |
China Hongxing
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Good News for China Hongxin
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Hi snooty, So sorry, thus why I always remind newbies to learn TA so tat we can be independant of others, I also always remind newbies to remember the old adage: "Learn to fish n u can fend for yourself for life, rely on others n u are at the mercy of others" Any price is a good price to off-load either if u are contented with the profits or if u are TA inclined, at any sell sign from your interpretation of the charts or if it hits your stop-loss point or if u intend to reallocate your funds n looking out for other stocks. I suggest u click on my nick, take your time, slowly read al of my past sharings, advice n particularly the thread in "Others - Learning TA" tat I created with newbies in mind. l wish u all the best
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| 28-Jul-2009 14:28 |
China Hongxing
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Good News for China Hongxin
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I may or may not come back to this stock depending on how are my funds deployed and also whether any buy opportunity in this stock in the future.
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| 28-Jul-2009 14:25 |
China Hongxing
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Good News for China Hongxin
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Thanks a lot, long time no hear from you, glad tat u are still here. Same to u. hope all of us HUAT AHHH!!!
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| 28-Jul-2009 12:46 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Msny thanks for your compliments. Sure, if I happen to detect anything, but no promise, must still be on your own guard.
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| 28-Jul-2009 12:42 |
China Hongxing
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Good News for China Hongxin
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Sold all my red star for very good handsome profit, no regrets even if it moves up subsequently, shall not be monitoring this stock any more, on lookout for other buy opportunities in other stocks. | ||||
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| 28-Jul-2009 10:49 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Only GOD will know.
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| 28-Jul-2009 10:27 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Noticed tat so far, the mkt has been very resilient with buyers coming in on every dip . | ||||
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| 28-Jul-2009 09:47 |
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DOW
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From Philip Securities: US Market NewsStocks rose slightly on Monday in a late rally as investors rotated into financial shares, Upbeat data on new home sales underpinned financial stocks, the session's strongest sector and prompted The Dow Jones US home construction index shot up 4.3 per cent after data showed US new home sales posted The Dow Jones industrial average rose 15.27 points, or 0.17 per cent, to close at 9,108.51. The Standard & Poor's500 Index gained 2.92 points, or 0.30 per cent, to 982.18. The Nasdaq Composite Index added 1.93 points, or 0.10per cent, to end at 1,967.89
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| 28-Jul-2009 09:45 |
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DOW
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From Philip Securities: US Market News
Stocks rose slightly on Monday in a late rally as investors rotated into financial shares, which had lagged in the
recent two-week run-up.
Upbeat data on new home sales underpinned financial stocks, the session's strongest sector, and prompted
investors to snap up the shares of several regional banks, which had been among the worst hit by credit losses tied
to a weak housing market.
The Dow Jones US home construction index shot up 4.3 per cent after data showed US new home sales posted
their biggest monthly gain in eight years in June, suggesting the housing market may be starting to recover from its
worst slump since the Great Depression of the 1930s.
The Dow Jones industrial average rose 15.27 points, or 0.17 per cent, to close at 9,108.51. The Standard & Poor's
500 Index gained 2.92 points, or 0.30 per cent, to 982.18. The Nasdaq Composite Index added 1.93 points, or 0.10
per cent, to end at 1,967.89
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| 28-Jul-2009 09:08 |
Others
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DOW
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DOW made a strong pull up during the last 3 hours, the bull is still young and very strong. 
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| 28-Jul-2009 00:48 |
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DOW
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About 75 percent of S&P 500 companies have topped analysts’ estimates so far, with per-share earnings dropping 26 percent on average, according to Bloomberg data. Bullish Analysts Wall Street firms lifted forecasts on S&P 500 companies 896 times in June and lowered 886, according to data compiled by JPMorgan Chase & Co. The last time analysts were bullish on a net basis was in April 2007, before more than $1.5 trillion of bank losses tied to subprime loans spurred the first global recession since World War II, the data show. The S&P 500 has erased more than half its loss since the Sept. 15 collapse of Lehman Brothers Holdings Inc. The benchmark index for U.S. equities has climbed 45 percent from a 12-year low on March 9 after the nation’s largest banks were profitable at the start the year and the government and Federal Reserve pledged $12.8 trillion to revive growth. To contact the reporter on this story: Lynn Thomasson in New York at lthomasson@bloomberg.net. Last Updated: July 27, 2009 11:45 EDT |
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| 28-Jul-2009 00:27 |
China Hongxing
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Good News for China Hongxin
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Sure, no problem, u are most welcome. By the way, there is a user manual which u can refer, but still feel free to post here, if any thing not clear, hopefully either me or other forumers can advise.
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| 28-Jul-2009 00:21 |
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DOW
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U.S. New-Home Sales Climb 11%, Most in Eight Years (Update1) By Courtney Schlisserman July 27 (Bloomberg) -- Purchases of new homes in the U.S. climbed 11 percent in June, the biggest gain in eight years, underscoring evidence that the deepest housing slump since the Great Depression is starting to stabilize. Sales increased to a 384,000 annual pace, higher than any forecast of economists surveyed by Bloomberg News and the most since November, figures from the Commerce Department showed today in Washington. The number of houses on the market dropped to the lowest level in more than a decade. Falling prices and a drop in mortgage rates have started to lure buyers even as the unemployment rate rises. Economists estimate that the worst U.S. recession in five decades is on the verge of ending as downturns in housing and manufacturing ease. “We are making some progress in absorbing this huge inventory overhang” and that “is a fundamental step we need to take to begin to see home prices improve,” said Robert Dye, a senior economist at PNC Financial Services Group in Pittsburgh. At the same time, rising joblessness means “a rebound will be modest at best,” he added. Builders’ stocks jumped, with the Standard and Poor’s Supercomposite Homebuilding Index gaining 2.3 percent. The broader S&P 500 Stock Index was up 0.1 percent at 980.35 at 10:10 a.m. in New York. Treasuries, which fell earlier in the day, remained lower, with benchmark 10-year note yields rising to 3.75 percent from 3.66 percent at last week’s close. Economists’ Forecasts Economists forecast new home sales would rise to a 352,000, according to the median of 62 projections in a Bloomberg News survey. Estimates ranged from 335,000 to 377,000. Commerce revised May’s reading up to a 346,000 rate from a previously reported 342,000. The median price of a new home decreased 12 percent to $206,200 from $234,300 in June 2008. Last month’s value compares with $219,000 in May. Sales of new homes were down 21 percent from June 2008. They reached a record-low 329,000 in January, down 76 from the July 2005 peak. The jump in sales in June was led by a 43 percent surge in the Midwest. Purchases increased 29 percent in the Northeast and 23 percent in the West. They dropped 5.3 percent in the South, to the lowest level since January 1991. Properties for Sale Builders had 281,000 houses on the market last month, down 4.1 percent from May and the fewest since February 1998. The number of unsold properties fell a record 36 percent from June 2008. It would take 8.8 months to sell all homes at the current sales pace, the lowest level since October 2007. Other reports underscore the stabilization in housing. The Wells Fargo/National Association of Homebuilders sentiment index has risen in five of the past six months and existing home sales have increased for three months in a row. Even so, foreclosure filings reached a record in the first half of the year, providing competition for homebuilders and pushing down the value of all houses. Also, rising unemployment, which economists forecast will top 10 percent by early 2010, threatens to restrain any recovery in housing. Standard Pacific Corp., the U.S. homebuilder that gets most of its revenue from California, is among companies seeing a stabilization. It’s net loss, the 11th consecutive drop, narrowed to $23.1 million in the second quarter from $249 million a year earlier, the Irvine, California-based company said last week. Revenue fell 29 percent. ‘A Lot Closer’ “While we still obviously have not achieved the level of profitability that we ultimately need, we are a lot closer than we were a couple of quarters ago and believe that we are in pretty good shape in the short run,” Chief Executive Officer Ken Campbell said in a July 22 statement. Federal Reserve policy makers have committed to a $1.25 trillion program to purchase securities backed by home loans in an effort to put a floor under the housing market and lower borrowing costs. Those purchases, as well as direct government purchases of Treasuries, drove the rate on 30-year mortgages to a record-low 4.78 percent in April, according to figures from Freddie Mac. Rates have since hovered around 5 percent. Fed Chairman Bernanke said July 21 that the economy is showing “tentative signs of stabilization” and the “decline in housing activity appears to have moderated.” Another incentive is the $8,000 tax credit for first-time buyers that is part of the Obama administration’s economic stimulus plan. Purchases have to be completed before Dec. 1. NVR Inc., the fourth-largest U.S. homebuilder, said last week that new orders increased 2 percent in the second quarter compared with a year earlier. The rate of cancellations fell to 14 percent from 19 percent in the second quarter of 2008 and 15 percent in the first three months of this year. To contact the reporter on this story: Courtney Schlisserman in Washington cschlisserma@bloomberg.net Last Updated: July 27, 2009 10:16 EDT |
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| 28-Jul-2009 00:14 |
China Hongxing
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Oh yah, those target prices tat u see given by broking houses, I just used it as a guide, notice tat they are never ever accurate, at most times, they are a moving target, adjusting up and down from time to time, to me they are not reliable.
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| 28-Jul-2009 00:10 |
China Hongxing
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Basically, I trade day to day based on my TA interpretation, n never believe in such thing as target price.
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