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epliew
Supreme |
20-Dec-2010 08:41
Yells: "no worries be happy !" |
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SEOUL: South Korea announced plans Sunday for a levy on foreign borrowing by banks in another attempt to curb potentially destabilising capital inflows. The move is the latest in a series of measures by emerging markets to curb a flood of capital from the United States and elsewhere, which is pushing up the value of their currencies. As pre-emptive and precautionary measures, South Korea decided to impose the levy on non-deposit foreign currency liabilities, the finance ministry said in a statement. The new rules will take effect from the second half of next year, it said, adding the government would seek legislative approval for the move in February. Banks would have to pay the levy in foreign currency. The levy will first apply to domestic banks and foreign bank branches, and its rate will vary according to debt maturity, the ministry said, adding short-term debt would face a higher rate. "If needed the levy will apply to all financial institutions," the ministry said. The levy will be used to provide liquidity when necessary to help the economy cope with external shocks, it said. South Korea is "highly vulnerable to extreme changes" in sudden capital movements, and overseas borrowings are "the most volatile, in particular short-term ones," the ministry said. "A surge of capital inflows could lead to inflation and asset price bubbles, and a sudden reversal of such inflows could possibly result in a systemic risk," it said. Last month the government announced it would restore a tax on foreigners buying Seoul government bonds, warning that excessive capital flows could destabilise the economy and push the local currency, the won, even higher. Taiwan and Indonesia have also taken steps to curb a flood of capital into emerging markets from low-interest regimes in the United States and elsewhere. This has pushed up currencies and damaged export competitiveness. The Federal Reserve's decision to pour an additional 600 billion dollars into the US economy through "quantitative easing" has heightened concerns. Seoul authorities are also considering further limits on foreign-exchange forward positions held by banks. Seoul fears that "hot money" coming into the country could exit just as swiftly -- as it did during the 1997-1998 East Asian financial crisis and the 2008 global crisis, despite South Korea's strong economic fundamentals. |
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epliew
Supreme |
20-Dec-2010 08:39
Yells: "no worries be happy !" |
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epliew
Supreme |
20-Dec-2010 08:38
Yells: "no worries be happy !" |
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MANILA, Dec 20 (Reuters) - Here are news stories and press reports which may influence local financial markets on Monday: WHAT IS HAPPENING IN THE PHILIPPINES -- ALL TIMES LOCAL FOLLOW BY GMT - Central bank to release balance of payments data for November REUTERS NEWS - PHILIPPINES > Philippines' Customs Nov revenue below goal [ID:nSGE6BG02V] > Philippines' bad loan ratio inches up in Oct [ID:nSGE6BG01M] LOCAL PRESS REPORTS (Reuters has not verified these stories) - The government likely kept its budget deficit as of November "much below 300 billion pesos" ($6.8 billion), Budget Secretary Florencio Abad said, putting it well on track to meet this year's target. (BUSINESSWORLD) - The International Monetary Fund's approval of reforms that will shift more voting power to emerging markets will benefit the Philippines, central bank officials said. (BUSINESSWORLD) - The Philippines still has some room to allow the peso - The Civil Aeronautics Board has allowed a partnership between South East Asian Airlines and Singapore-based Tiger Airways - Metro Pacific Investments |
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epliew
Supreme |
20-Dec-2010 08:37
Yells: "no worries be happy !" |
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iPunter
Supreme |
20-Dec-2010 08:19
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It seems to me Gaecia enjoys being a cheerleader of sorts... A mere routine exchange of views is hardly 'fighting'... I always thought it is better to encourage value-added ideas rather than stoke any semblance of unfriendness..
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iPunter
Supreme |
20-Dec-2010 08:07
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http://www.youtube.com/watch?v=DXVN1xQV_-0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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iPunter
Supreme |
20-Dec-2010 08:05
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The only Korean thing I like is this Click |
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genting^2
Veteran |
20-Dec-2010 08:05
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Take profits and keep it under your SAFE.South Korea says exercises to start Monday http://edition.cnn.com/2010/WORLD/asiapcf/12/19/north.korea.tensions/index.html?hpt=T1 |
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iPunter
Supreme |
20-Dec-2010 08:03
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The only Korean thing I like is this Click
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Gaecia
Elite |
20-Dec-2010 01:45
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Anyway gd nite Dan. i nd to turn in soon, will check on your posts tmr. | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Gaecia
Elite |
20-Dec-2010 01:41
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Yes that's wat i meant, historically usd and commodities are usually inversely related unless under extentuating periods of currency turmoil ie. this year's euro crisis marked a parallel move in precious metals and usd due to flight to safety and euro/usd ratio decline for some weeks back then. In precious metals sector my pick will be silver and palladium to outperform the rest however intraday volatility is a challenge.
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Leinadgnow
Senior |
20-Dec-2010 01:21
Yells: "Retired" |
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gaecia.. not neccessarily.. honestly.. gold has been the standard of good as gold - greenback since the bretton wood system ... and as such , the pegging of the dollar to gold or rather the unpegging has seen gold run against the dollar. and not parallel to it.. for instance, when QE2 was released .. gold rose exponentially.. for other commodities, i think that it will go up because of the strong requirements of it in china and india... such as copper and platinium in order to manufacture.. as well as silver etc. thus why i believe commodities would rise.. yup.. but i'm looking at sugar.. copper .. silver and a chance to enter gold when it reconsolidates. | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Gaecia
Elite |
20-Dec-2010 01:09
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Dan, what about US dollar reading from your charts? usu if you're referring to equities boom with CPI data etc, commodities will track parallel direction it won't deviate. | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Gaecia
Elite |
20-Dec-2010 01:04
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Hana juicy, to help them internalise the meaning of not fighting. This time, nothing to do wif moi. Lol |
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icetomato
Elite |
20-Dec-2010 01:00
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This song again!? Haha.. Debate of the demo account again?! Am I experiencing deja vu or what!?
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Leinadgnow
Senior |
20-Dec-2010 00:58
Yells: "Retired" |
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huh? ya.. i'm on live accounts!! lol.. i used dbsvickers as well as igmarkets and Citi... i just use mt4 and chartnexus as well as ig's demo to backtest my ideas and certain theories... i think sugar and copper can buy... platinium also .. cause it's a laggard as compared to gold... However, i feel that the CPI and PPI as well as all the good datas coming of the usa will only make equities jump which conversely will make commodities go down .. gold has had a good run recently.. and i think it's time for it to go down .. but that being said.. in the long term .. definitely gold and platinium as china.. india and other countries are developing at an enormous pace... finite resources.. infinite demands.. therefore dd/ss... and price increase. at least in the next 10 years i think.. so short term.. i'm not so sure about commods.. only know sugar not too bad because sugar crops now all freezed up .. low supply... |
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Gaecia
Elite |
20-Dec-2010 00:38
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Hey Dan, i'd always thought you're already on live trading a/c from your past accounts...u mean not yet? When u trade your eur/usd e mini futures that's for real right? Okay just something about USD its currently hanging in mid air, what's your take? It'll hav a bearing on broad equities, commodities direction and in particular i wanna try silver whether to b or s (only if it turns down frm 30 bucks yet again) but going by how strong this bull is, to short it is smwhat suicidal hor...u think? | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Gaecia
Elite |
20-Dec-2010 00:25
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Its called....read the song title i think daniel can't stand it thou. lol http://www.youtube.com/watch?v=90jJy6sEDLo Cannotfight yup, big boys cannot cat fight. |
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Leinadgnow
Senior |
20-Dec-2010 00:23
Yells: "Retired" |
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friendly banter la gaecia :D hahaha ... i don't like korean stuff sorry.. when i was in seoul :S the food was bad.. lol made me lose 3kg | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Gaecia
Elite |
20-Dec-2010 00:20
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whoa the 2 geniuses here don't be so fierce ya, its making gaecia bite her fingers. Come, let's reach out for Daniel's cheerios, its wholegrain, crunchy & good for your heart. Yum! wanna hear some korean songs to wind down? |
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