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Suddenly All See RED
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Farmer
Master |
21-Aug-2007 15:53
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We're definitely not out of the woods yet. I read that this crisis will take at least a few months to settle down, and hopefully by then, no other new crisis reappear. |
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moneymaking
Member |
10-Aug-2007 17:00
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With all these governemnt commitment to help solving this issue, will it be possible that the issue is a big issue to be worried about ? I bet the financial market will slowly put this issue behind. |
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KiLrOy
Master |
10-Aug-2007 16:29
Yells: "I buy only what I can see." |
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So we are poised for a lesser loss for TODAY and coming weekend. :) |
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tiandi
Senior |
10-Aug-2007 16:20
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Asia's central banks join campaign to calm marketshttp://sg.biz.yahoo.com/070810/3/4aict.html |
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mediacraze
Member |
10-Aug-2007 16:19
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Hi KiLroy I saw the same trend as well, may be due to this news: HONG KONG/SINGAPORE, Aug 10 (Reuters) - Central banks from Tokyo to Sydney injected extra cash into banking systems or pledged to do so on Friday, as Asia joined a global campaign by monetary authorities to calm panicky credit markets. The Bank of Japan and the Reserve Bank of Australia added more money than usual to prevent short-term rates from spiking, albeit on a much smaller scale than the European Central Bank's record 94.8 billion euro ($130.6 billion) injection on Thursday. "What the central banks are doing is a concerted effort to inject liquidity. And the worrying thing is that they do that when the system is not functioning the way it should," said Jimmy Koh, a currency strategist at United Overseas Bank. At the same time, Malaysia, Indonesia, the Philippines and Taiwan stepped in to support their currencies by selling U.S. dollars, traders said, as escalating credit market worries hit risky assets around the region. [ID:nSP35818] The moves came after the ECB pumped a record amount of cash into Europe's money markets to make sure that banks had adequate short-term funds for lending. The U.S. Federal Reserve followed suit on a smaller scale. [ID:nL09825727] The trigger was news that France's biggest-listed bank, BNP Paribas <BNPP.PA>, had frozen $2.2 billion worth of funds hit by U.S. subprime mortgage woes. TIGHTER SQUEEZE Investors fear the damage caused by the U.S. subprime meltdown runs deeper than originally estimated and will put an even tighter squeeze on credit markets worldwide. The central bank actions calmed money markets, but more subprime problems are likely to surface in coming weeks, said Moe Ibrahim, a fund manager with The Asia Debt Fund in Singapore, which manages about $365 million. "There's a variety of scenarios you can envision, all the way from it being a relatively contained phenomenon to something which has much broader implications that cause the world to collapse like a deck of cards," he said. A Bank of Japan official said the bank injected funds at its regular money market operation on Friday due to a slight rise in the benchmark overnight call rate. The bank for the world's second-largest economy offered to supply 1.0 trillion yen ($8.45 billion) in funds -- at the higher end of market expectations. The Reserve Bank of Australia pumped more than twice the usual amount of money into the banking system, injecting A$4.95 billion ($4.19 billion). The banks acted to ensure there were enough funds for money markets to operate smoothly and to prevent short-term rates from spiking. The moves did not represent a substantive shift in monetary policy, analysts said. But financial markets took a battering, in part because the unusual ECB move unsettled traders. Asian stocks slumped and the yen extended its gains as investors dumped riskier assets following a rout in global markets. [MKTS/GLOB\]. The flight to safety shored up Japanese government bonds and U.S. Treasuries [US/T&D]. OPEN TAP Elsewhere in the region, central banks pledged to open the tap on the first signs of a seizure in money markets. The Bank of Korea's head of monetary policy, Jang Byung-wha, told Reuters the central bank was ready to act to maintain stability in the local financial system, such as supplying extra funds, if a credit crunch arises. The South Korean won <KRW=> hit a two-month low against the dollar after a senior Bank of Korea official said the central bank would not sell dollars to support the currency, breaking with the regional trend. Singapore also said that it was ready to inject cash, but noted it saw no problems for now. "If there are liquidity bottlenecks, certainly we will come in to inject more liquidity. At this stage, the liquidity management is unchanged," Ong Chong Tee, deputy managing director of the Monetary Authority of Singapore, told a news conference. Traders said that while the monetary authority had not directly injected any funds it had left the surplus cash in the market. The MAS was not immediately available for comment. The Hong Kong Monetary Authority said it saw no need to pump money into the banking system but was monitoring markets. Hong Kong short-term interbank rates jumped as market liquidity tightened. (With additional reporting by Saeed Azhar and Vidya Ranganathan in Singapore) ((Editing by Jack Reerink; Reuters Messaging: jeffrey.hodgson.reuters.com@reuters.net; (852) 2843 6314)) |
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Forglory
Member |
10-Aug-2007 16:17
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MAS stepped in? |
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KiLrOy
Master |
10-Aug-2007 15:47
Yells: "I buy only what I can see." |
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local Market recovering slightly. I think STI will end off not too bad today. What do you all think? |
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Happyseah
Senior |
10-Aug-2007 15:21
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European stocks -- European stocks set to drop furtherPARIS, Aug 10 (Reuters) - European stocks are expected to fall sharply on Friday, adding to the previous session's drop as mounting worries over the crisis in the U.S. subprime mortgage sector rattle equity markets worldwide. Spread betters in London expect the FTSE 100 index (.FTSE: Quote, Profile, Research) to open down 97 to 104 points, the CAC 40 (.FCHI: Quote, Profile, Research) down 50 to 121 points (.FCHI: Quote, Profile, Research) and the DAX (.GDAXI: Quote, Profile, Research) down 76 to 134 points. U.S. stocks sank on Thursday, with the Dow and S&P down nearly 3 percent, after French bank BNP Paribas (BNPP.PA: Quote, Profile, Research) froze three funds that invested in U.S. subprime mortgages, prompting central banks to take steps to reassure investors. Asian shares also dropped overnight, with the Nikkei losing more than 2 percent. "The Dow collapsed again last night to finish the day almost 400 points lower as credit woes tightened their grip and expectations are for European markets to follow this lead as Friday's session gets underway," Matt Buckland, trader at CMC Markets wrote in a note. Shares of European financial institutions will be in the spotlight again after U.S. peers plummeted as investors took fright at BNP Paribas' subprime confessions that came less than 10 days after the bank said it was not affected by the crisis. Goldman Sachs Group (GS.N: Quote, Profile, Research) fell nearly 6 percent after a second fund managed by the investment bank was under pressure to sell assets after falling in value. Bear Stearns Cos. (BSC.N: Quote, Profile, Research) lost 5.8 percent |
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skeleton
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10-Aug-2007 15:19
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This is what globalisation is all about...when you celebrate your NDP in RED, whole world will celebrate together with you and make sure every one sees RED. Good Luck
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Centaur
Veteran |
10-Aug-2007 10:17
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what an irony, wed STI just register its biggest 1 day gain in 4 years, lost all within the first hour of the next trading day... |
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synnexo
Veteran |
10-Aug-2007 10:09
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Dude, This is a bottomless pit. It's spreading globally. Even those not affected also claim that they are drag down by this crisis. |
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Farmer
Master |
10-Aug-2007 10:03
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The main problem I read is that nobody at this time seems to know the depth of this crisis.....ie it's still in UNKNOWN status. And that is why the market is reacting globally, which is the norm. |
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fruitty
Senior |
10-Aug-2007 10:02
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goodness, a sea of red at sgx... |
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Centaur
Veteran |
10-Aug-2007 10:00
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All our local banks are very safe with minimal credit exposure to US Subprime. Don't see the need for MAS to step in at all. With our solid economy, its quite obvious that investors over react. |
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tanwk3
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10-Aug-2007 09:55
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World Central Banks start to act. US Federal inject $23b to banking system yesterday and ECB lends $1230b in funds to clam credit markets. BOJ added $8.49b to financial system today to supply cash due to credit crunch. Singapore MAS is ready to supply cash if necessary. |
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Farmer
Master |
10-Aug-2007 09:18
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This is just the beginning of the biggest US Housing bubbles burst in history!!! Remember, "the optimist sees opportunity in every danger, the pessimist sees danger in every opportunity". Major correction maybe a good chance to bottom fish if you intend to stay long and do your homework promptly. I would recomend value stocks like SPH, Singtel, ST Engg, ComfortDelgo, SMRT...etc which are not only defensive, they pay good dividends. |
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skeleton
Member |
01-Aug-2007 16:04
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3 decisions one can make in such situation, BUY, SELL or HOLD. Judging from the sell and buy volumes today, not heavy but prices drop across all board are drastic.....meaning ??? Not many investors are actually selling nor buying but many are being Force Sell at below BID PRICES hence the big drop and we see red red ??? When i gamble blackjack in casinos, always tell myself, don't try to outsmart myself by taking another card (to get near 21 points) even if i have only 12 or 13 points and the banker is having a card of number 4 or 5....even if the banker is having a picture now and i have only 15 points, i will still stay put and not try to get another card....reason is simple...stay alive and the chance is still alive unless you are a risk taker....then you will have the EXTRA 2 more decisions to make today...BUY or SHORT at HUGE VOLUME....prepare to collect money or run road. 
My mood more conservative today, only scoop up a few counters at moderate volume and held onto my other counters...I believe in 3 months at most, i will be seeing profits better than what i have wanted....Only my wild guesses and my believes. Good Luck all
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cyjjerry85
Elite |
01-Aug-2007 15:32
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i do agree with you very much on this point Farmer |
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Farmer
Master |
01-Aug-2007 15:13
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This is just the beginning of the end of the super bull market! Remember, "the optimist sees opportunity in every danger, the pessimist sees danger in every opportunity". Major correction maybe a good chance to bottom fish if you intend to stay long and do your homework promptly. I would recomend value stocks like SPH, Singtel, ST Engg, ComfortDelgo, SMRT...etc which are not only defensive, they pay good dividends. Just my overdue 2 cts worth! |
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gho485
Senior |
01-Aug-2007 12:13
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wow sti 91 pts down...think this is a big 'sell' reaction from investors. i reckon its a little overdone. we may see it picking up towards the end of today..there is no need for a major sell off... looking at picking up sales |
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