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richtan
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23-Jul-2009 11:35
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Most Asian Stocks Rise; Funai Gains, National Australia Falls By Masaki Kondo and Patrick Rial July 23 (Bloomberg) -- Most Asian stocks rose, led by manufacturers that rely on U.S. demand as American housing prices unexpectedly gained. Financial companies declined after National Australia Bank Ltd. set the price for a share sale. Funai Electric Co., which gets 71 percent of its revenue in North America, added 3.4 percent in Osaka. National Australia Bank, the nation’s top lender by assets, slumped 5.1 percent after pricing its stock sale at a discount. Woolworths Ltd., Australia’s biggest retailer, sank 2.8 percent as Royal Bank of Scotland Group Plc downgraded the stock on valuations. “The sentiment is one of cautious optimism,” said Stephen Halmarick, Sydney-based head of investment markets research at Colonial First State, which holds about $110 billion. “The economy and markets are not likely to continue to recover in a straight line. There are going to be ebbs and flows.” Almost five stocks gained for every three that declined on the MSCI Asia Pacific Index, which added 0.2 percent to 106.86 as of 11:53 a.m. in Tokyo. The gauge has gained 9 percent in the past eight days, the longest winning streak since January. Hong Kong’s Hang Seng Index climbed 2.2 percent. Japan’s Nikkei 225 Stock Average added 0.1 percent, while Australia’s S&P/ASX 200 Index lost 0.2 percent. South Korea’s Kospi Index dropped 0.3 percent. STX Pan Ocean Co., the country’s biggest bulk carrier, lost 1.3 percent after shipping fees slid for a third day. Futures on the U.S. Standard & Poor’s 500 Index gained 0.3 percent. The gauge was little changed yesterday. U.S. Housing Average U.S. home prices rose 0.9 percent in May from April, the Federal Housing Finance Agency said yesterday. Prices were estimated to drop 0.2 percent, according to an economist survey. Funai climbed 3.4 percent to 3,990 yen in Osaka trading. James Hardie Industries NV, the biggest seller of home siding in the U.S., rose 2.1 percent to A$4.85 in Sydney. Toyota Motor Corp., the world’s biggest automaker by market value, added 1.7 percent to 3,660 yen. “Housing is no longer the drag on the market that kept pulling everything down,” said Mitsushige Akino, who oversees the equivalent of $522 million at Ichiyoshi Investment Management Co. in Tokyo. “Volumes remain light though, so shares are likely to remain range-bound until we can get some new sense of direction.” National Australia Bank slumped 5.1 percent to A$22.39. The bank said it will sell shares at A$21.50 each ($18), a discount of 8.8 percent from the previous closing price. Rival Suncorp- Metway Ltd. lost 1.5 percent to A$6.80 and Bank of Queensland Ltd. slid 1.6 percent to A$10.33. Broker Downgrade Woolworths slumped 2.8 percent to A$26.80. Royal Bank of Scotland Group Plc slashed the rating on the stock to “hold” from “buy,” citing valuations. The MSCI Asia Pacific Index’s eight-day rally has come amid better-than-expected earnings from U.S. companies including Apple Inc. and International Business Machines Corp. Shares in the gauge are valued at 24 times estimated net income, near the highest in almost four months. “The market has really run ahead of itself in the last week or so,” Arjuna Mahendran, Singapore-based chief investment strategist for Asia at HSBC Private Bank, which oversees $494 billion in assets, said on Bloomberg Television. “We have reasonable optimism that the spate of above-expectation earnings that have been coming out will continue.” STX dropped 1.3 percent to 11,650 won, while Korea Line Corp., South Korea’s No. 2 shipping line, sank 2.9 percent to 60,300 won. The Baltic Dry Index, a measure of shipping costs for commodities, slid 1.4 percent in London yesterday, bringing its three-day slump to 3.8 percent. Oil Prices Inpex Corp., Japan’s top oil explorer, sank 2.1 percent to 714,000 yen, while closest domestic rival Japan Petroleum Exploration Co. fell 2.5 percent to 4,650 yen. Mitsui & Co., a trading company that gets more than half its profit from commodities, sagged 1.6 percent to 1,121 yen. Crude oil futures in New York dropped as much as 0.6 percent in electronic trading today, extending yesterday’s 0.3 percent decline. Disco Corp., a Japanese maker of precision machinery, rose 3.6 percent to 4,330 yen. First-quarter revenue jumped 42 percent from the previous three months as demand recovered, the company said yesterday in a preliminary report. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net; Shani Raja in Sydney at sraja4@bloomberg.net. Last Updated: July 22, 2009 23:03 EDT |
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richtan
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23-Jul-2009 09:58
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Japanese Exports Fall at Slower Pace as Slump Eases (Update3) By Jason Clenfield and Kyoko Shimodoi July 23 (Bloomberg) -- Japan’s exports fell in June at the slowest pace this year as demand picked up worldwide, helping the trade surplus widen for the first time in 20 months and setting the stage for an economic recovery. Shipments abroad declined 35.7 percent from a year earlier, after dropping 40.9 percent in May, the Finance Ministry said today in Tokyo. The surplus widened to 508 billion yen ($5.4 billion). Faster growth in China is propping up sales for Japanese manufacturers including Komatsu Ltd. and Nissan Motor Co. The recovery in shipments from the record collapse spurred by the financial crisis probably helped the economy grow for the first time in more than a year last quarter. “There’s no doubt China has been a driving force for Japan’s exports,” said Masamichi Adachi, senior economist at JPMorgan Chase & Co. in Tokyo. “Manufacturers will probably continue to increase production amid the improvement in exports, and that’s good for the economic outlook.” The Bank of Japan last week raised its assessment of the economy for a third month, citing rebounds in trade and factory production. “Economic conditions have stopped worsening,” the central bank said. The yen traded at 93.69 per dollar at 10:08 a.m. in Tokyo from 93.59 before the report was published. The Nikkei 225 Stock Average fell 0.1 percent to 9,711.14. Economists predicted exports would decrease 35.1 percent. From a month earlier, shipments rose 1.1 percent. Economy Grows Analysts surveyed by Bloomberg predict the world’s second- largest economy expanded an annualized 2.4 percent in the three months ended June 30, growing for the first time in five quarters. Gross domestic product shrank a record 14.2 percent in the previous three months. Demand picked up in all regions. Exports to China fell 23.7 percent last month from a year earlier, the smallest drop since October. Shipments to the U.S. declined 37.6 percent, the least since December, and sales to Europe slid 41.4 percent, also the best this year. The International Monetary Fund said this month the global economic rebound next year will be stronger than it predicted in April, raising its forecast for world growth to 2.5 percent for 2010 from an April estimate of 1.9 percent. China, which grew 7.9 percent last quarter, has surpassed the U.S. as Japan’s biggest export customer. Government subsidies to encourage consumer spending and investment in building projects have benefited Japanese manufacturers. Most Important “The bottom line is that China’s strong growth will continue to drive Japan’s exports,” said Kiichi Murashima, chief economist at Nikko Citigroup Ltd. in Tokyo. “Exports are the single most important factor for the economic outlook.” Tokyo-based Komatsu, the world’s second-biggest maker of earthmovers, said last month its sales in China probably beat expectations in the quarter ended June 30. The company expects the market to grow to about 15 percent of total sales this business year, compared with 10 percent in 2008. Nissan, whose Chinese sales rose 18 percent in the first five months of the year, will have to increase shipments of engines and transmissions from Japan to feed higher output at its factories in Guangzhou and Hubei, according to Tokyo-based spokeswoman Pauline Kee. Japan will still need demand to pick up from the U.S. and elsewhere because about half of Japan’s exports to China are parts and materials used to make products that are re-exported, according to Nikko Citigroup’s Murashima. “About half of Japan’s export to China eventually go to other industrial countries after assembly,” Murashima said. “So we’re a bit cautious about connecting the strength in Japan’s exports to China to resilience in total exports and the overall economy.” The central bank will release a report later today showing trade volumes on a month-on-month basis, data which correlates closely with the export component of GDP, according to London- based Capital Economics Ltd. To contact the reporters on this story: Jason Clenfield in Tokyo at jclenfield@bloomberg.net; Kyoko Shimodoi in Tokyo at kshimodoi@bloomberg.net Last Updated: July 22, 2009 21:22 EDT |
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richtan
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23-Jul-2009 09:57
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Japan Futures Climb on U.S. Housing; Australia Falls on Oil By Patrick Rial and Satoshi Kawano July 23 (Bloomberg) -- Japanese stock futures climbed as a gain in U.S. housing prices provided evidence the world’s biggest economy is stabilizing, while a dip in oil prices pushed Australian futures lower. U.S.-traded receipts of Toyota Motor Corp., which generates more than a third of its sales in North America, rose 0.6 percent from the closing share price in Tokyo yesterday. Those of Sony Corp., the maker of PlayStation game consoles, advanced 0.7 percent as U.S. home prices unexpectedly climbed in May from the previous month. American depositary receipts of BHP Billiton Ltd., the world’s largest mining company, declined 1.3 percent as crude snapped a five-day winning streak. “Housing is no longer the drag on the market that kept pulling everything down,” said Mitsushige Akino, who oversees the equivalent of $522 million at Ichiyoshi Investment Management Co. in Tokyo. “Volumes remain light though, so shares are likely to remain range-bound until we can get some new sense of direction.” Futures on Japan’s Nikkei 225 Stock Average expiring in September finished at 9,755 in Chicago, up from 9,730 in Osaka and 9,725 in Singapore. Futures for Australia’s S&P/ASX 200 Index lost 0.2 percent in Sydney. New Zealand’s NZX 50 Index lost 0.1 percent in Wellington. In New York, the Standard & Poor’s 500 Index fell 0.1 percent yesterday as better-than-expected earnings from companies including Apple Inc. were offset by a report from Wells Fargo & Co. that nonperforming loans are rising. U.S. Home Prices The MSCI Asia Pacific Index has rallied 19 percent this year and now stands at the highest level since October. Shares in the gauge are valued at 24 times estimated earnings, compared with 16 times and 14 times for U.S. and European benchmarks. Average U.S. home prices rose 0.9 percent from April, the Federal Housing Finance Agency said yesterday. Prices were forecast to drop 0.2 percent, according economists. Additionally, General Motors Co. said yesterday second- quarter sales in Asia surged 38 percent, helping to offset a decline in Europe and North America. Crude oil for September delivery dropped 0.3 percent to settle at $65.40 a barrel in New York after the U.S. Energy Department reported a smaller-than-expected decline in inventories. To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net; Satoshi Kawano in Tokyo at Skawano1@bloomberg.net Last Updated: July 22, 2009 19:33 EDT |
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richtan
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22-Jul-2009 15:07
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Asian Stocks Advance for Seventh Day on Earnings Speculation By Masaki Kondo and Shani Raja July 22 (Bloomberg) -- Asian stocks rose for the seventh day, the longest streak of gains for the MSCI Asia Pacific Index since January, as Shin-Etsu Chemical Co. sought to raise prices and BHP Billiton Ltd. pumped a record amount of crude oil. Shin-Etsu, the world’s largest maker of silicon wafers, climbed 4.9 percent in Tokyo after saying its unit will start talks with chipmakers to boost prices. BHP, Australia’s biggest oil and gas producer, gained 2 percent as new fields helped fourth-quarter output reach an all-time high. China Petroleum & Chemical Corp., the country’s No. 1 refiner, rose 10 percent in Shanghai after Nomura Holdings Inc. said the company’s first- half net income may more than triple. “The market is pricing for a recovery,” said Matt Riordan, who helps manage about $3.2 billion at Paradice Investment Management in Sydney. “The underlying economy is better than people anticipated.” The MSCI Asia Pacific Index added 0.6 percent to 107.21 as of 3:45 p.m. in Tokyo, taking its climb in the past seven days to 9.3 percent. The gauge has surged 52 percent from a five-year low on March 9 amid speculation stimulus policies worldwide will boost global economic growth. China’s Shanghai Composite Index climbed 2.4 percent, the most in Asia today, to a 13-month high. Japan’s Nikkei 225 Stock Average advanced 0.3 percent. Nippon Signal Co., which makes traffic signals, jumped 12 percent in Tokyo, while Nexen Tire Corp. climbed 6 percent in Seoul as brokerages set higher target prices for the stocks. Melbourne-based BHP Billiton led the S&P/ASX 200 Index’s 0.4 percent advance. Gains were limited as lenders fell on plans by National Australia Bank Ltd. to sell shares. ‘Tentative Signs’ Futures on the U.S. Standard & Poor’s 500 Index fell 0.1 percent. The gauge gained 0.4 percent yesterday as Federal Reserve Chairman Ben S. Bernanke said the country’s economy is showing “tentative signs of stabilization.” After markets closed, Apple Inc. became the latest U.S. company to report better-than-expected profit. Hon Hai Precision Industry Co., which assembles Apple’s iPhone, gained 2.3 percent to NT$113.5 in Taipei. Shin-Etsu Chemical climbed 4.9 percent to 4,740 yen, while closest rival Sumco Corp. rose 4.6 percent to 1,579 yen in Tokyo. Shin-Etsu Chemical said today Shin-Etsu Handotai Co., its wholly owned subsidiary, will start negotiations with chipmakers to raise prices for silicon wafers. The Nikkei newspaper earlier said the company will seek a price increase of as much as 40 percent. Toshiba Corp., Japan’s biggest chipmaker, jumped 5 percent to 378 yen. Apple paid $500 million to Toshiba for flash memory chips, according to the transcript of Apple’s earnings teleconference. Investor Survey Optimism for a rebound in corporate profits has helped drive the MSCI World Index up by 6.6 percent in the week through yesterday. The average valuation of companies in the MSCI Asia Pacific Index has risen to 24 times estimated net income, higher than the S&P 500’s 16 times and 14 times for Europe’s Dow Jones Stoxx 600 Index. The first Quarterly Bloomberg Global Poll of financial investors and analysts showed more than a third of investors see greater opportunity and are taking more risk. Two-thirds of respondents say they are optimistic about India’s prospects, as are 70 percent on China. India’s finance ministry said on July 2 the nation’s economy may grow by as much as 7.75 percent this year. China said last week its second-quarter gross domestic product expanded 7.9 percent from a year earlier, accelerating from its slowest growth in almost a decade. Australia’s economy is looking better than the central bank forecast a few months ago, Guy Debelle, an assistant governor at the country’s central bank, said in Melbourne today. Sinopec, BHP Materials and energy stocks posted the biggest gains among the MSCI Asia Pacific Index’s 10 industry groups today. The two groups are the gauge’s best performers this year amid speculation an economic rebound will boost commodities demand. BHP, the world’s biggest mining company, added 2 percent to A$36.90. Fourth-quarter oil production rose 4 percent from a year earlier. “People are snapping up companies that are sensitive to the global economy in anticipation of an earnings recovery,” said Hiroshi Fujimoto, a fund manager at Tokyo-based Shinkin Asset Management Co. in Tokyo, which manages the equivalent of $5.7 billion. “It’s getting more certain the U.S. is bottoming out, while China is firming up ground through large-scale public spending to accelerate its growth.” China Petroleum, known as Sinopec, rose 10 percent to 13.38 yuan following Nomura’s prediction on earnings. The company, China’s No. 1 refiner, is scheduled to report first-half earnings on August 24. Nippon Signal, Nexen Nippon Signal surged 12 percent to 904 yen in Tokyo. Nomura rated the stock a new “buy” with a price estimate of 1,000 yen, saying railway upgrade projects overseas will increase demand for the company’s products. Rival Kyosan Electric Manufacturing Co. gained 9.9 percent to 411 yen. Nexen climbed 6 percent to 6,500 won after a surge in second-quarter profit prompted Good Morning Shinhan Securities Co. and Korea Investment & Securities Co. to raise their share- price estimates. In Sydney, Westpac Banking Corp., Australia’s second- biggest bank by market value, fell 2.4 percent to A$19.82, while Commonwealth Bank of Australia lost 1.6 percent to A$39.10. National Australia Bank said it will raise A$2.75 billion ($2.24 billion) from selling equity to help it weather rising bad loans and finance potential acquisitions. The lender’s shares were halted from trading today. Japanese Developers Property developers were the biggest drag on Japan’s Topix Index today on concern the country’s economy won’t stage a quick recovery. NTT Urban Development Corp. slumped 4.5 percent to 88,800 yen. Tokyo Tatemono Co. lost 2.6 percent to 457 yen. “Real estate is among the industries hardest hit by the recession,” said Kiyoshi Ishigane, a senior strategist at Tokyo-based Mitsubishi UFJ Asset Management Co., which oversees about $52 billion. Tokyo Tatemono President Makoto Hatanaka said in an interview with the Nikkei published July 20 that Japan’s economy will not have a “V-shaped” recovery and office vacancy rates are likely to continue rising outside of Tokyo. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net; Shani Raja in Sydney at sraja4@bloomberg.net. Last Updated: July 22, 2009 02:48 EDT |
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richtan
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22-Jul-2009 11:17
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Most Asian Stocks Rise; Shin-Etsu Chemical Gains, Banks Retreat By Masaki Kondo and Shani Raja July 22 (Bloomberg) -- Most Asian stocks rose, led by material producers after Shin-Etsu Chemical Co. said it will seek a price increase. Banks fell as National Australia Bank Ltd. said it will sell stock. Shin-Etsu Chemical, the world’s largest maker of silicon wafers, climbed 5.1 percent in Tokyo after saying its unit will start talks with chipmakers for a price increase. Hon Hai Precision Industry Co., which makes Apple Inc.’s iPhone, gained 1.4 percent in Taipei after Apple’s earnings beat analyst estimates. Sydney-based Westpac Banking Corp. sank 1.5 percent, while National Australia Bank, the nation’s largest lender by assets, was suspended from trading. Five stocks rose for every three that fell on the MSCI Asia Pacific Index, which added 0.3 percent to 106.96 as of 11:27 a.m. in Tokyo. An 8.7 percent increase in the past six days lifted the measure yesterday to its highest close since Oct. 2. The gauge has gained 52 percent from a five-year low on March 9. “The underlying economy is better than people anticipated and the market is pricing for a recovery,” said Matt Riordan, who helps manage about $3.2 billion at Paradice Investment Management in Sydney. Japan’s Nikkei 225 Stock Average advanced 0.2 percent. Australia’s S&P/ASX 200 Index added 0.5 percent, while South Korea’s Kospi Index lost 0.1 percent. Futures on the U.S. Standard & Poor’s 500 Index fell 0.3 percent. The gauge gained 0.4 percent yesterday as Federal Reserve Chairman Ben S. Bernanke said the country’s economy is showing “tentative signs of stabilization.” Silicon Wafers Shin-Etsu Chemical climbed 5.1 percent to 4,750 yen, while closest rival Sumco Corp. rose 4.5 percent to 1,577 yen in Tokyo. Shin-Etsu Chemical said today Shin-Etsu Handotai Co., its wholly owned subsidiary, will start negotiations with chipmakers to raise prices for silicon wafers. The Nikkei newspaper earlier said the company will seek a price increase of as much as 40 percent. Hon Hai gained 1.4 percent to NT$112.5 as Apple became the latest U.S. company to report better-than-expected earnings. Apple’s third-quarter sales and profit beat analysts’ estimates, as the iPhone and cheaper computers lured customers. Optimism of a rebound in corporate profits has helped fuel a global stock rally in the past week. The average valuation of companies in the MSCI Asia Pacific Index has risen to 24 times estimated net income, higher than the S&P 500’s 15 times and 13.7 times for Europe’s Dow Jones Stoxx 600 Index. The first Quarterly Bloomberg Global Poll of financial investors and analysts showed more than a third of investors see greater opportunity and are taking more risk. Seventy percent of participants in the survey are optimistic about China’s prospects. Westpac fell 1.5 percent to A$20.01. National Australia Bank said it will raise A$2.75 billion ($1.63 billion) from selling equity to help it weather rising bad loans and finance potential acquisitions. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net; Shani Raja in Sydney at sraja4@bloomberg.net. Last Updated: July 21, 2009 22:28 EDT |
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Blastoff
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22-Jul-2009 11:15
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TOKYO Japanese share prices edged up 0.16 per cent in morning trade on Wednesday, mirroring gains on Wall Street where investors welcomed improved earnings reports and sign of an economic recovery. The benchmark Nikkei-225 index rose 15.67 points to 9,667.69 by the lunch break. The broader Topix index of all first section shares climbed 2.04 points, or 0.23 per cent, to 903.59. KUALA LUMPUR At 9.30am on Wednesday, there were 165 gainers, 56 losers and 110 counters traded unchanged on the Bursa Malaysia. The FBM-KLCI was at 1,141.27 up 6.57 points, the FBM2BRD was at 4,927.54 up 53.32 points, and the FBMEmas was at 7,680.73 up 37.30 points. Turnover was at 73.645 million shares valued at RM78.641 million. HONG KONG Hong Kong share prices opened 0.28 per cent higher on Wednesday, with the benchmark Hang Seng Index rising 53.66 points to 19,555.39 in the first few minutes of trading. SHANGHAI Chinese shares were up 1.12 per cent on Wednesday morning led by solar energy firms after China said it would offer power companies subsidies for solar projects, dealers said. The Shanghai Composite Index, which covers A and B shares, was up 35.83 points at 3,249.04. China will subsidise at least 500 megawatts of solar projects by utilities companies over the next two to three years, funding up to 70 per cent of investment costs of solar power projects, the Ministry of Finance said in a statement. The Shanghai A-share index rose 37.56 points, or 1.11 per cent, to 3,410.68, while the Shenzhen A-share index gained 10.20 points, or 0.90 per cent, to 1,147.12. |
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richtan
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22-Jul-2009 10:03
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The Dow Will Hit 10,000 in 2009 by Dr. Mark Skousen, Advisory Panelist Highlights in this issue:
Dear Investment U Reader, Wall Street has been debating the huge run-up in the Dow Jones Industrial Average. Was March the beginning of a huge rally that will take the market to new highs? Have we witnessed the proverbial "dead-cat bounce?" The prognosticators have been unsure, uncertain and uncommittal about what they see coming next... So let me make it clear where I stand: We are in the beginning of a new bull market that will carry us to 10,000 on the Dow by year's-end - and new highs within a couple of years. Yes, the recovery will be volatile. But now is the time to buy, despite the big run up. No doubt there's plenty of bad news out there - rising unemployment with no end in sight, threatened tax increases on capital gains and dividends, anemic corporate profits, commercial real-estate insolvency, federal deficits, continued threats from the Middle East and Afghanistan, the specter of inflation and high interest rates among others... This list goes on and on. But as the old saying goes, "Wall Street climbs a wall of worry." It's all for naught - and I encourage you to look past these sideshows and distractions. I'm convinced the stock market is headed higher - a lot higher. I'll share my reasoning and tell you why Jeremy Siegel feels the same way. Three Reasons the Dow is Going Up Over the past few months, three things have been sticking out to me like huge blinking aircraft landing signals. Here's why we're going to keep moving up..
As Milton Friedman has demonstrated time and time again, after a lag of between six and nine months an easy money policy will cause a sharp recovery in the economy and stocks. Economists call it the "Friedman Effect."
Well, guess what? The lag is over, and the "Friedman Effect" is taking full effect. We can expect higher stock prices and a recovery in the economy by year-end. And as a result of the administration's efforts, housing sales are on the rise and real estate prices are stabilizing. It's why I'm so interested in real estate lately. Take a look at may last column, "Real Estate: The Buy of the Century." http://www.investmentu.com/IUEL/2009/April/buying-real-estate.html Adding more fuel to my position, when I sat down with Wharton's Wizard he showed me an interesting long-term chart of the S&P 500 Index.  The Wizard of Wharton's Long-Term Outlook You'll note that every time the market hit the bottom of his long-term chart, it rallied - sharply. And that's exactly where it was in late February when I met with Professor Siegel - at the bottom. Sure enough, in early March Wall Street rallied - and it hasn't looked back. It's now up 30% from its lows. Between you and me, he called the exact bottom of the stock market within weeks. (Of course, so did a few of our analysts as well.) How far up can it go? I asked this precise question to Professor Siegel last month. He told me that he has just completed a study of how well stocks do after a major crash like the one we just experienced (falling 50% from its highs). His conclusion was pretty striking: After a major bear market, stocks on average rebound 24% the first year of recovery. And just as nice, the average annual return over the next five years is 18%. Since the Dow was around 8,300 at the first of the year, it could climb back to 10,000 by year-end. (And 18,000 by 2013.) We could comfortably hit these numbers with an additional 19% gain. Although many believe the "easy money" has been made - and they may be right - the market will still offer plenty of profitable opportunities in the coming months. It'll be volatile, but it's certainly not too late to get aboard. Good investing, Mark |
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AK_Francis
Supreme |
22-Jul-2009 09:58
Yells: "Happy go lucky, cheers." |
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Ha ha, possible loh.
Solar eclipse passes fr India to China, and now shifting to d Pacific regions, wat an amazing universe phonomena in decades. D 22 Jul 09 Tsunami prediction, boh tai chee liao. Cheers.
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TonyGan
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22-Jul-2009 09:49
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HSI 20K ??? | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Blastoff
Elite |
22-Jul-2009 07:20
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Dow ends at 6-month highS&P finishes at 8-month peak as investors cheer better-than-expected quarterly results. Bernanke's comments keep gains in check.  The Dow Jones industrial average (INDU) ended up 68 points, or 0.8%, closing at its highest level since Jan. 6. Meanwhile, the broader S&P 500 (SPX) index tacked on 3 points, or 0.4%, its highest close in 8 months. The tech-laden Nasdaq composite (COMP) added 7 points, or 0.4%, marking the index's 10th consecutive day of gains, and the longest streak of winning sessions the Nasdaq has had in 12 years. The last time the Nasdaq posted 10 winning sessions in a row was July 1997, according to a Nasdaq spokesperson. After the closing bell, computer and cellphone maker Apple (AAPL, Fortune 500) posted second-quarter profit of $1.35 per share on revenue of $8.34 billion. That easily beat Wall Street estimates of $1.17 per share earnings and revenue of $8.2 billion, according to a consensus estimate of analysts polled by Thomson Financial. Apple shares rose 3% in after-hours trading. Also after the close, search engine Yahoo (YHOO, Fortune 500) said revenue fell by 13% from the same quarter a year earlier to $1.57 billion. After taking out traffic acquisition costs, however, Yahoo posted sales of $1.14 billion, in line with analysts' expectations. Yahoo stock slipped 4% after hours. On Tuesday, Caterpillar (CAT, Fortune 500) rose 8% after issuing a positive outlook, although even bigger gains were pared after executives warned in a conference call that waning demand would make for a tough third quarter. "We have made a tremendous move and a tremendous sentiment change in the last six trading days, since Monday of last week," said Kenny Landgraf, principal and founder of Kenjol Capital Management. Market breadth was mixed. On the New York Stock Exchange, advancers beat decliners 8 to 7 on volume of 1.21 billion shares. On the Nasdaq, decliners beat advancers 5 to 4 on volume of 2.28 billion shares. Bernanke: Fed chairman Bernanke, in prepared testimony before a House committee, said the pace of economic decline has "slowed significantly" but the labor market has gotten worse. He cautioned that improvement is uncertain and likely to be gradual going forward. Investors paid close attention to Bernanke's testimony. "It has been an unprecedented credit crisis and they cut the rates to zero," said Landgraf. "The question is you can't leave them there for ever." As the economy begins to recover, the central bank will have to pull back. "As things start to get engaged and you get some traction in the economy," he said, "how do you lift interest rates without snuffing out the recovery?" Prior to his testimony, Bernanke outlined his "exit strategy" from the current low interest rate policy in a Wall Street Journal guest column. Bernanke defended the aggressive roles of the Fed and its ballooning balance sheet in the current crisis, saying "These actions have softened the economic impact of the financial crisis." Caterpillar: Heavy equipment maker Caterpillar, a gauge of the global economy, said that it is seeing signs of stabilization in the global economy, and that global stimulus efforts -- particularly in China -- are beginning to work. "A lot of their profits come from overseas and a lot of their expectations are driven by the emerging markets needing to grow," said Joe Clark, managing partner at Financial Enhancement Group. For the second quarter, Caterpillar posted better-than-expected earnings on sales that fell short of expectations. However, the company said its third quarter would be tough and that it could post a loss for that period and that it would be forced to implement rolling plant closures. Second-quarter reports: Investors were paying close attention to financial reports from the second quarter for a sense of how companies are managing to navigate the downturn. Drugmakers Merck and the soon-to-be-acquired Schering-Plough announced second-quarter earnings before the bell. Merck (MRK, Fortune 500) reported earnings per share of 83 cents excluding charges, beating expectations of 77 cents from Thomson Reuters. Schering (SGP, Fortune 500) reported 46 cents earnings per share excluding charges, which was close to estimates, and up slightly from 45 cents in the year-ago quarter. On Wednesday, the drumbeat of corporate announcements continues. Investors will look for second-quarter reports from Dow component Boeing (BA, Fortune 500), as well as Delta Air Lines (DAL, Fortune 500), Morgan Stanley (MS, Fortune 500), Wells Fargo (WFC, Fortune 500), and eBay (EBAY, Fortune 500). CIT: Investors are also watching troubled small business lender CIT (CIT, Fortune 500), which confirmed late Monday that bondholders had extended financing that will keep it afloat. The market was generally pleased to see the private sector step up to the plate. "When we look back ten years from now," said Landgraf, and investors see that "the sector came forward and helped out their associates here, we are going to say that is a better deal than that government stepping in." But investors remain uncertain about how long the relief will last as the company faces a difficult restructuring. Bonds: Treasury prices jumped, with the yield on the benchmark 10-year note falling to 3.46% from 3.61% Monday. Treasury prices and yields move in opposite directions. Other markets: In global trade, Asian stocks ended the session mixed. Major European markets ended between 1% and 2% higher. In currency trading, the dollar gained against major currencies, including the euro, British pound and Japanese yen. U.S. light crude oil settled up 74 cents to $64.72 a barrel on the expiration date for the August contract. The weekly crude oil inventories report from the Energy Information Administration is due Wednesday. COMEX gold for August delivery fell $1.90 to $946.90 an ounce. |
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Blastoff
Elite |
21-Jul-2009 14:07
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TOKYO JAPANESE share prices climbed 1.35 per cent in morning trade on Tuesday after Wall Street extended a rally overnight on growing optimism about the outlook for corporate earnings, dealers said. The benchmark Nikkei-225 index rose 126.94 points to 9,522.26 by the lunch break. The broader Topix index of all first section shares gained 14.73 points, or 1.68 per cent, to 893.02. HONG KONG Hong Kong share prices ended the morning 0.19 per cent higher on Tuesday, as confidence returned to the market towards the end of the session after early profit-taking, dealers said. The benchmark Hang Seng Index ended the session up 37.46 points at 19,539.83. Turnover was HK$45.83 billion (S$8.48 billion). SHANGHAI Chinese share prices fell 0.53 per cent by midday Tuesday with coal producers leading the losses due to mild profit taking, dealers said. The Shanghai Composite Index, which covers both A and B shares, was down 17.39 points at 3,249.53. 'There is also some liquidity pressure from tomorrow's online subscription for China State Construction Engineering's IPO,' Guosen Securities analyst Wang Junqing told Dow Jones Newswires. But brokerage firms rose after the securities regulators invited listing applications for a long-awaited Nasdaq-style Growth Enterprise Board, traders said. Applications will be accepted starting on Sunday for the Growth Enterprise Board, which aims to help Chinese high-tech companies raise funds just as Nasdaq helped companies like eBay and Google. The Shanghai A-share index lost 18.23 points, or 0.53 per cent, to 3,411.29, while the Shenzhen A-share index fell 9.60 points, or 0.83 per cent, to 1,150.77. KUALA LUMPUR At 12.30pm today, there were 197 gainers, 319 losers and 240 counters traded unchanged on the Bursa Malaysia. The FBM-KLCI was at 1,140.08 up 0.83 of a point, the FBM2BRD was at 4,892.31 down 5.42 points, and the FBMEmas was at 7,679.84 up 1.87 points. Turnover was at 519.492 million shares valued at RM760.677 million (S$310 million). |
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des_khor
Supreme |
21-Jul-2009 10:59
Yells: "Tell me who is the God or MFT from this forum??" |
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Today is brokage fee day as most counters trade unchange or up and down only 1 bid . |
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richtan
Supreme |
21-Jul-2009 10:41
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Asian Stocks Rise on Recovery Optimism; Commodities Shares Gain By Masaki Kondo and Shani Raja July 21 (Bloomberg) -- Asian stocks advanced as Australia’s treasurer said the worst of the global recession may have passed and after Goldman Sachs Group Inc. raised its estimate for the U.S. Standard & Poor’s 500 Index. Fairfax Media Ltd., Australia’s No. 2 newspaper owner, surged 5.5 percent, while James Hardie Industries NV, the biggest seller of home siding in the U.S., climbed 6 percent in Sydney. Mitsubishi Corp., a Japanese trading company that gets more than half its revenue from resources, jumped 4.7 percent as oil and metals prices advanced. “It looks like the recession is pretty close to an end,” said Nader Naeimi, a Sydney-based strategist at AMP Capital Investors, which manages about $95 billion. “Not only have things stopped getting worse, you’re actually starting to see signs of a recovery.” The MSCI Asia Pacific Index added 1.2 percent to 106.05 as of 10:58 a.m. in Tokyo, headed for a sixth gain. The gauge has climbed 50 percent from a five-year low on March 9 amid optimism stimulus policies worldwide will revive the global economy. The Nikkei 225 Stock Average climbed 1.4 percent in Japan, where stock markets were closed yesterday. Australia’s S&P/ASX Index added 0.1 percent, while South Korea’s Kospi Index rose 0.3 percent. New Zealand’s NZX 50 Index advanced 1.5 percent. Sky City Entertainment Group Ltd., the country’s biggest casino operator, surged 7.3 percent after saying annual profit more than doubled. CIT Rescue Futures on the S&P 500 dipped 0.4 percent. The gauge climbed 1.1 percent in New York yesterday. Shares of CIT Group Inc., which provides financing to almost 1 million small businesses, soared 79 percent after a person briefed on the board’s deliberations said the lender has reached a financing agreement with bondholders. Fairfax surged 5.5 percent to A$1.34 in Sydney, and rival West Australian Newspapers Holdings Ltd. jumped 7.6 percent to A$5.26. Australian Treasurer Wayne Swan told reporters today that the worst of the global recession “may be behind us.” James Hardie, which gets more than three-quarters of its revenue in the U.S., surged 6 percent to A$4.60 in Sydney. Panasonic Corp., the world’s largest maker of plasma televisions, climbed 3.6 percent to 1,250 yen in Tokyo, while Honda Motor Co., Japan’s No. 2 automaker, rose 2.8 percent to 2,545 yen. David Kostin, Goldman Sachs’ U.S. strategist, boosted his year-end estimate for the S&P 500 to 1,060 from 940, citing earnings reports that have been stronger than expected. The gauge closed at 951.13 yesterday. The MSCI Asia Pacific Index last week had its biggest weekly advance since May as Intel Corp. forecast sales that beat analyst estimates and International Business Machines Corp. raised its profit target. Government reports showed economic growth accelerated in China and U.S. manufacturing improved. Relief Rally “The earnings recovery of U.S. companies is following a familiar pattern of conservative guidance being beaten and giving rise to a relief rally,” said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments Ltd. in Tokyo, which manages $28 billion. The MSCI Asia Pacific Index’s rally has lifted average valuations of shares in the benchmark gauge to 24 times estimated earnings, and 1.5 times book value, up from 14 times and 1.2 times respectively at the start of the year. Japan’s Topix index gained 1.7 percent, led by trading companies and metals producers. Mitsubishi, the nation’s largest trading house by market value, added 4.7 percent to 1,779 yen, and Sumitomo Metal Mining Co., Japan’s top nickel producer, leapt 6.3 percent to 1,360 yen. A gauge of six metals in London climbed for a sixth session yesterday, the longest stretch since March 2006, while crude oil rose for a fifth day today. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net; Shani Raja in Sydney at sraja4@bloomberg.net. Last Updated: July 20, 2009 22:01 EDT |
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richtan
Supreme |
21-Jul-2009 10:33
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U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another set of earnings that would beat analyst expectations this week. Prior to Monday’s opening bell, 55 S&P 500 companies reported earnings, of which 71% beat expectations. Monday's rally extended the market's recovery since the 12-year lows in early March. The Nasdaq hit its highest close since Oct 08, while the Dow registered its highest close since Jan 09. On the economic data front, the index of leading economic indictors, which gauges U.S. economic prospects for the next six to nine months, increased in June for the third straight month, suggesting the recession might be drawing to a close. Oil prices had a choppy session on Monday, vacillating between strong gains and corrections. Crude has settled at about US$64.48/bbl.
- refers to NASDAQ composite which consists of all stocks in NASDAQ. Futures value only for NASDAQ 100.
Key Events due this week (Briefing.com) Monday Economics: Leading indicators (Actual: +0.7% vs +0.5% consensus. 1.2% prior) Earnings: Halliburton, Hasbro, Boston Scientific, Texas Instruments and Legg Mason. All exceeded expectations. Tuesday No economic news. Earnings: BlackRock, Caterpillar, Coca-Cola, Freeport-MacMorRan, Lockheed Martin, Merck, Schering-Plough, TD Ameritrade, United Health and Western Union. After bell: AMD, Apple, Seagate, Starbucks and Yahoo. Wednesday Crude Inventories (no consensus vs 2.81m prior) Earnings: Altria, Bank of NY, Boeing, Delta Airlines, Eli Lilly, Morgan Stanley, PepsiCo, Pfizer, Suncor Energy, US Bancorp, Wells Fargo. After bell: Alcon, E*TRADE, eBay, Noble Corp and San Disk. Thursday Initial claims (no consensus vs 522k prior) Existing home sales (4.8m consensus vs 4.77m prior) Earnings: 3M, AT&T, Bristol-Myers, CIT Group, CME Group, Diamond Offshore, Ensco, Ford, Goodrich, IMS Health, Jetblue Airways, McDonald’s, New York Times, Northrop Grumman, Nucor, Philip Morris, PNC Bank, Radio Shack, Starwood Hotels, UPS, US Airways, Wyeth and Xerox. After bell: Amazon.com, Amex, Baidu.com, Capital One, Chubb, Microsoft and Netflix. Friday Michigan sentiment review (64.6 consensus vs 64.6 prior) Earnings: Ingersoll-Rand and Schlumberger. Implication on Singapore The gains registered by the US stocks on Wall Street overnight, coupled with a strong rally by the Nikkei in early morning trading is likely to provide further upside momentum to the local bourses today. With the STI breaking a new 2009 high yesterday, the renewed optimism seems to have return to the local market again. From a technical viewpoint, indicators are still pointing to a steady bullish momentum with the RSI trending up consistently towards the overbought region and the MACD indicator rebounding off the centerline strongly. These suggest that the index is likely to carry on to register more gains in the days ahead. We expect an initial resistance at 2500 (psychological level and gap zone in Sep '08), following which the subsequent resistance will be the 2605 level (minor peak in Sep '08). On the downside, we think that 2424 (Jun '09 high) could be the initial hurdle, ahead of 2361 (minor peak in Jul '09). Next Resistance level: 2605 (minor peak in Sep '08) Immediate Resistance level: 2500 (psychological and gap zone level) STI Current: 2456.15 (Last close: +1.0%) Immediate Support Level: 2424 (Jun '09 high) Next Support Level: 2361 (minor peak in Jul '09) Source: Newswires, OIR. Best Regards, Mr Kelly CHIA Senior Investment Analyst OCBC Investment Research |
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des_khor
Supreme |
21-Jul-2009 10:28
Yells: "Tell me who is the God or MFT from this forum??" |
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The problem in penny sometime just perform a day show.... however gives great return and risk ! | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Hulumas
Supreme |
21-Jul-2009 10:22
Yells: "INVEST but not TRADE please!" |
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Penny stocks are warming up........I keep buying and loading heavily on PENNY stocks today.
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Juzztrade
Veteran |
21-Jul-2009 10:21
Yells: "Techincal and long term investor" |
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HSI must trade above 19500...
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Juzztrade
Veteran |
21-Jul-2009 10:16
Yells: "Techincal and long term investor" |
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HSI now positive...
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des_khor
Supreme |
21-Jul-2009 10:13
Yells: "Tell me who is the God or MFT from this forum??" |
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In action soon.... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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maxcty
Master |
21-Jul-2009 10:13
Yells: "always a learning day for me in trading" |
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STI no energy to cheong already?? | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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