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STI to cross 3000 boosted by long-term investors
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krisluke
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08-Feb-2011 20:09
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  Brazil Just Reported 5.99% Year-Over-Year Inflation Image: By kaysha on flickr Today's big numbers are out. First from Brazil: Year over year inflation of 5.99% was just a touch hotter than expectations. On a month over month basis, prices rose 0.83%.
All the fun stuff happens in South America this week, it's a big one for fresh inflation data.
We forecast January’s CPI inflation at 0.74% month-over-month, in line with the latest consensus forecast, 0.74%, according to central bank’s weekly survey. This result would be a virtual stability from the CPI inflation of January’s first half, 0.76%, but higher than December’s monthly print of 0.63%. Food prices should post a 1.0% increase, exerting, together with transportation costs, the main upward pressures. We forecast January’s exclusion core at 0.60% month-over-month. This indicates that there are additional impacts rather than just food inflation. Over the last 12 months, CPI inflation should remain at 5.9%, the same increase registered previously.
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krisluke
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08-Feb-2011 19:56
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Rate Hikes Could Be A Leading Indicator Of The Next Big Bull Market In ChinaAaron Boesky, CEO at Marco Polo Pure Asset Management says the conventional wisdom is wrong about high rates and lower equity prices – at least in China.  Boesky says rate hikes were a leading indicator of the last multi-year bull market in Chinese stocks and believes that this time could be the same.  He cites the following chart:
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krisluke
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08-Feb-2011 19:50
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  HAPPY NEW YEAR: China Just Hiked Rates Again China just hiked rates again. The timing comes as China finishes its New Year holiday. The benchmark lending rate has risen to 3%. Markets generally just moved lower on the news. Gold and other commodities are lower on the news. |
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krisluke
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08-Feb-2011 19:46
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One Simple Chart That Explains Why Germans Resent Bailing Out The Rest Of EuropeThis weekend, France and Germany were rebuffed in their plan for a " pact for competitiveness" which would have seen eurozone member states adopt similar labor and tax policies to Germany.
The 7-year age gap of Female retirement between Germany and Greece, Italy, and Austria is definitely the most glaring labor number, but across the board only Spain (same ages) and Ireland look close to the Germany retirement model. Consider how difficult it was for France to raise its retirement age, and you'll understand why this is no easy issue for European leaders. Corporate income tax rates are high in Germany compared to the rest of the eurozone, and one aim would be to make those more unified. This is likely to hit Slovakia, but will be much more harsh on Ireland, who count their low tax rates as a key source of economic growth..
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krisluke
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08-Feb-2011 19:41
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The U.S. Trying To Make Brazil Its Chief Ally In The Currency War Against China  Image: wikimedia commons  
With the world currency war raging, the U.S. is searching for allies, and is now focused on enlisting Brazil as its ally, according to the Financial Times.
Brazil has been the biggest loser in the currency war thus far, facing rising inflation and the potential for problems in the country's banking sector as a result of its policies. U.S. Treasury Secretary Timothy Geithner is appealing to Brazil to side with the U.S., as it experiences a flood of cheap Chinese goods damaging its own manufacturing sector. Brazil may outline its agreement with the U.S. over the yuan in a statement as early as March, according to the FT. There were rumors that Brazil was going to stand against China at the start of the year. Now it seems they'll form an alliance with the U.S. to do so. |
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krisluke
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08-Feb-2011 18:45
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CURRENCIES The March Dollar closed higher due to short covering on Monday as it consolidates above the 10-day moving average crossing at 77.88. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 78.60 are needed to confirm that a short-term low has been posted. If March renews the decline off January's high, November's low crossing at 76.18 is the next downside target. First resistance is today's high crossing at 78.44. Second resistance is the 20-day moving average crossing at 78.60. First support is last Wednesday's low crossing at 77.00. Second support is November's low crossing at 76.18. The March Euro closed higher due to short covering on Monday as it consolidates some of last week's decline but remains below the 10-day moving average crossing at 136.75. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 135.00 would confirm that a short-term top has been posted. If March renews the rally off January's low, the 75% retracement level of the November-January decline crossing at 139.06 is the next upside target. First resistance is last Wednesday's high crossing at 138.56. Second resistance is the 75% retracement level of the November-January decline crossing at 139.06. First support is today's low crossing at 135.02. Second support is the 20-day moving average crossing at 135.00. The March British Pound closed higher due to short covering on Monday as it consolidates some of the decline off last Thursday's high. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are diverging and are turning bearish signaling that a double top with November's high might have been posted with last Thursday's high. Closes below the 20-day moving average crossing at 1.5930 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 1.6274. Second resistance is weekly resistance crossing at 1.6295. First support is the 10-day moving average crossing at 1.6012. Second support is the 20-day moving average crossing at 1.5930. The March Swiss Franc closed higher due to short covering on Monday but remains below the 20-day moving average crossing at .10486. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If March extends last week's decline, the reaction low crossing at .10327 is the next downside target. If March renews the rally off January's low, December's high crossing at .10762 is the next upside target. First resistance is last Wednesday's high crossing at .10723. Second resistance is December's high crossing at .10762. First support is today's low crossing at .10421. Second support is the reaction low crossing at .10327. The March Canadian Dollar closed lower due to profit taking on Monday as it consolidates some of last week's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off August's low, weekly resistance crossing at 101.95 is the next upside target. Closes below last Monday's low crossing at .9932 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 101.63. Second resistance is weekly resistance crossing at 101.95. First support is the reaction low crossing at 99.57. Second support is last Monday's low crossing at 99.32. The March Japanese Yen closed lower on Monday confirming last Friday's key reversal down. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI have turned bearish signaling that a short-term top might be in or is near. Closes below the reaction low crossing at .12019 would confirm that a short-term top has been posted. If March renews the rally off January's low, December's high crossing at .12365 is the next upside target. First resistance is last Friday's high crossing at .12341. Second resistance is December's high crossing at .12336. First support is the 20-day moving average crossing at .12138. Second support is the reaction low crossing at .12019. |
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krisluke
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08-Feb-2011 18:43
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PRECIOUS METALS April gold closed higher on Monday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1353.40 are needed to confirm that a short-term low has been posted. If April renews the decline off January's high, the 25% retracement level of the 2009-2010-rally crossing at 1307.10 is the next downside target. First resistance is the 20-day moving average crossing at 1353.40. Second resistance is the reaction high crossing at 1394.70. First support is January's low crossing at 1309.10. Second support is the 25% retracement level of the 2009-2010-rally crossing at 1307.10. March silver closed higher on Monday as it extends the rally off January's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, the reaction high crossing at 29.845 is the next upside target. Closes below the 10-day moving average crossing at 28.100 would temper the near-term friendly outlook. First resistance is today's high crossing at 29.450. Second resistance is the reaction high crossing at 29.845. First support is the 10-day moving average crossing at 28.100. Second support is January's low crossing at 26.300. March copper closed lower due to profit taking on Monday as it consolidates some of this winter's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 439.87 would confirm that a short-term top has been posted. First resistance is today's high crossing at 463.75. First support is the 10-day moving average crossing at 444.33. Second support is the 20-day moving average crossing at 439.87. |
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krisluke
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08-Feb-2011 18:42
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GRAINS March Corn closed down 3 3/4-cents at 6.74 3/4. March corn closed lower due to profit taking on Monday as it consolidated some of last Friday's rally but not before posting a new contract high. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally, the 87% retracement level of the 2008-2009-decline crossing at 7.19 1/4 is the next upside target. Closes below the 20-day moving average crossing at 6.50 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at 6.82 1/2. Second resistance is the 87% retracement level of the 2008-2009-decline crossing at 7.19 1/4. First support the 10-day moving average crossing at 6.60 3/4. Second support is the 20-day moving average crossing at 6.50 1/2. March wheat closed up 5-cents at 8.58 3/4. March wheat closed higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are diverging but are neutral to bullish signaling that additional gains are possible near-term. If March extends this winter's rally, the 50% retracement level of the 2008-2010-decline crossing at 8.80 3/4 is the next upside target. Closes below the 20-day moving average crossing at 8.19 1/4 are needed to confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 8.72 3/4. Second resistance is the 50% retracement level of the 2008-2010-decline crossing at 8.80 3/4. First support is the 10-day moving average crossing at 8.47 3/4. Second support is the 20-day moving average crossing at 8.19 1/4. March Kansas City Wheat closed up 10 3/4-cents at 9.53 1/2. March Kansas City wheat closed higher on Monday as it extends this winter's rally. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought, diverging but are neutral to bullish signaling that additional gains are possible near-term. If March extends this winter's rally, monthly resistance crossing at 9.90 is the next upside target. Closes below the 20-day moving average crossing at 9.02 3/4 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 9.60 1/2. Second resistance is monthly resistance crossing at 9.90. First support is the 10-day moving average crossing at 9.34 3/4. Second support is the 20-day moving average crossing at 9.02 3/4. March Minneapolis wheat closed up 2 3/4-cents at 9.91 1/4. March Minneapolis wheat closed higher due to short covering on Monday ending a two-day correction off last Thursday's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought, diverging and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 9.41 3/4 are needed to confirm that a short-term top has been posted. If March extends this winter's rally, monthly resistance crossing at 10.74 is the next upside target. First resistance is last Thursday's high crossing at 10.16 1/4. Second resistance is monthly resistance crossing at 10.74. First support is the 10-day moving average crossing at 9.81 3/4. Second support is the 20-day moving average crossing at 9.41 3/4. SOYBEAN COMPLEX March soybeans closed down 9-cents at 14.24 1/2. March soybeans closed lower on Monday as it consolidates recent gains. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. If March extends the rally off November's low, monthly resistance crossing at 15.45 1/2 is the next upside target. Closes below the 20-day moving average crossing at 14.09 1/2 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 14.52 1/2. Second resistance is monthly resistance crossing at 15.45 1/2. First support is the 20-day moving average crossing at 14.09 1/2. Second support is the reaction low crossing at 13.64 1/4. March soybean meal closed down $0.80 at $382.40. March soybean meal closed lower due to profit taking on Monday as it consolidated some of last Tuesday's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 370.60 would confirm that a short-term top has been posted. If March extends this winter's rally, monthly resistance crossing at 394.70 is the next upside target. First resistance is last Wednesday's high crossing at 390.70. Second resistance is monthly resistance crossing at 394.70. First support is the 20-day moving average crossing at 380.40. Second support is the reaction low crossing at 370.60. March soybean oil closed down 57-pts. at 58.41. March soybean oil closed lower due to profit taking on Monday as it consolidates below the upper boundary of the trading range of the past seven weeks, which crosses at 59.10. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but are turning neutral to bearish hinting that a double top with January's high crossing at 59.10. Closes below the 20-day moving average crossing at 57.65 would temper the near-term friendly outlook. Multiple closes above January's high crossing at 59.10 would open the door for a possible test of the 75% retracement level of the 2008-decline on the weekly continuation chart crossing at 60.54. First resistance is last Thursday's high crossing at 59.69. Second resistance is the 75% retracement level of the 2008-decline on the weekly continuation chart crossing at 60.54. First support is the 20-day moving average crossing at 57.65. Second support is January's low crossing at 55.40. |
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krisluke
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08-Feb-2011 18:40
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ENERGY MARKETS March crude oil closed lower on Monday and below the 10-day moving average crossing at 88.93 tempering the near-term friendly outlook. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last week's high, January's low crossing at 85.11. If March renews the rally off January's low, January's high crossing at 93.46 is the next upside target. First resistance is last Monday's high crossing at 92.84. Second resistance is January's high crossing at 93.46. First support is today's low crossing at 87.41. Second support is January's low crossing at 85.11. March heating oil closed lower due to profit taking on Monday as it consolidates some of this winter's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 266.76 are needed to confirm that a short-term top has been posted. If March renews this winter's rally, weekly resistance crossing at 283.95 is the next upside target. First resistance is last Thursday's high crossing at 280.41. Second resistance is weekly resistance crossing at 283.95. First support is today's low crossing at 269.10. Second support is the 20-day moving average crossing at 266.76. March unleaded gas closed higher due to short covering on Monday as it consolidated some of last Friday's decline but remains below the 10-day moving average crossing at 246.33. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If March extends last Friday's decline, January's low crossing at 236.92 is the next downside target. If March renews this winter's rally, weekly resistance crossing at 267.54 is the next upside target. First resistance is last Thursday's high crossing at 253.44. Second resistance is weekly resistance crossing at 267.54. First support is last Friday's low crossing at 242.90. Second support is January's low crossing at 236.92. March Henry natural gas gapped down and closed sharply lower on Monday renewing the decline off January's high. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 87% retracement level of the October-January rally crossing at 3.975 is the next downside target. Closes above the 20-day moving average crossing at 4.447 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 4.359. Second resistance is the 20-day moving average crossing at 4.447. First support is today's low crossing at 4.101. Second support is the 87% retracement level of the October-January rally crossing at 3.975. |
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krisluke
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08-Feb-2011 18:39
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STOCK INDEXES & MARKETS The March NASDAQ 100 closed higher on Monday and above January's high thereby renewing the rally off last July's low. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging but remain bullish signaling that sideways to higher prices are possible near-term. Today's close above January's high crossing at 2346.50 opens the door for additional gains and a possible test of weekly resistance crossing at 2358.54. Closes below last Monday's low crossing at 2248.50 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2359.75. Second resistance is weekly resistance crossing at 2358.54. First support is the 20-day moving average crossing at 2305.70. Second support is last Monday's low crossing at 2248.50. The March S& P 500 index closed higher on Monday as it extends the rally off last August's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remains bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally, the 75% retracement level of the 2008-2009-decline crossing at 1356.30 is the next upside target. Closes below last Monday's low crossing at 1270.00 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1320.00. Second resistance is the 75% retracement level of the 2008-2009-decline crossing at 1356.30. First support is the 10-day moving average crossing at 1296.05. Second support is last Monday's low crossing at 1270.00. The Dow closed higher on Monday as it extends the rally off last year's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this winter's rally, the 75% retracement level of the 2007-2009-decline crossing at 12,289 is the next upside target. Closes below the 20-day moving average crossing at 11,899 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 12,188. Second resistance is the 75% retracement level of the 2007-2009-decline crossing at 12,289. First support is the 10-day moving average crossing at 12,007. Second support is the 20-day moving average crossing at 11,899. |
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krisluke
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08-Feb-2011 18:22
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(RTTNews) - Most of the markets open for trading in Asia/Pacific region ended in negative territory. The Chinese Market is closed for Lunar New Year Holidays. Among the other markets, the markets in Australia and Japan managed to end in the green with modest gains on optimism about global economic recovery. However, the markets in Hong Kong, Indonesia, India, Singapore, South Korea and Taiwan ended in negative territory with moderate losses. In Australia, the benchmark S& P/ASX200 Index gained 21.90 points, or 0.45 percent and closed at 4,890.40 points, while the All-Ordinaries Index ended at 4,983.10 points,, representing a gain of 18.80 points, or 0.38 percent. On the economic front, results of a survey released by the National Australia Bank revealed that business confidence bounced back during January in Australia. NAB's Business confidence index for January 2011 was plus-4, an improvement of seven points from the minus-3 reading in December. Business conditions, however, deteriorated. NAB's conditions index fell to minus-6, a drop of 12 points from the December reading of plus-six. NAB said the floods in Queensland and Victoria sent January business conditions sharply lower. A report released by the Australian Bureau of Statistics revealed that the number of overseas visitor arrivals to Australia rose a seasonally adjusted 0.3% compared with a month earlier in December to 505,800. This followed an increase of 1.1% in November and a decrease of 2.1% in October. Overseas visitors made a record 5.9 million short-term trips to Australia in 2010, up from the 5.6 million movements recorded during both 2008 and 2009. Light sweet crude oil futures for March delivery was trading at $87.52 a barrel in electronic trading, up $0.04 per barrel from previous close at $87.48 a barrel in New York on Monday. Banking stocks ended in positive territory following release of the quarterly results from the major commercial banks. ANZ Bank gained 0.74 percent, Commonwealth Bank of Australia advanced 0.84 percent, National Australia Bank climbed 1.92 percent and Westpac Banking Corp. was higher by 1.11 percent. Investment banking company Macquarie Group, however, ended in the red with a loss of 0.32 percent after the company stated that its second half results will be down five percent on subdued equity volumes. Retail stocks continued to remain soft for the second successive day on weaker retail sales data. In Japan, the benchmark Nikkei 225 Index finished 43.94 points, or 0.41 percent higher to 10,635.98 while the broader Topix index of first section issues added 3.57 points, or 0.38 percent, to close at 944.00. On the economic front, a report released by Japan's Ministry of Finance revealed that the country posted a current account surplus of 1.195 trillion yen in December, jumping 30.5 percent on year. That beat expectations for a 24.2 percent annual increase to 1.13 trillion yen following the 15.7 percent annual contraction in November to 926.2 billion yen. The adjusted current account surplus came in at 1.555 trillion yen, up from the 1.530 trillion yen surplus in the previous month. The trade balance missed expectations with a 23.2 percent increase on year to 768.8 billion yen. Analysts had expected a surplus of 779.7 billion yen following the 259.7 billion yen surplus a month earlier, which represented a 46.6 percent annual contraction. A report released by Bank of Japan revealed that M3 money stock in the country was up 2.3 percent on year in January, coming in at 784.5 trillion yen. That matched expectations for a 2.3 percent increase, and also the rate of growth in December. The Bank of further noted that M3 money stock rose 1.8 percent to 1,085.3 trillion yen - again matching both the forecast and the previous rate of gain Light sweet crude oil futures for March delivery was trading at $87.52 a barrel in electronic trading, up $0.04 per barrel from previous close at $87.48 a barrel in New York on Monday. Insurance related stocks led the list of gainers in the market. T& D Holdings surged up 3.57 percent, Tokio Marine Holdings climbed 3.15 percent. MS & AD Insurance Holdings advanced 2.55 percent and NKSJ Holdings was up by 3.15 percent. Real estate related stocks also ended in positive territory. Mitsubishi Estate climbed 2.06 percent, Mitsui Fudosan advanced 0.12 percent and Tokyu Land Corp. was up 0.23 percent. Heiwa Real Estate remained unchanged from previous close. Among the other major markets, the Chinese market was closed for public holiday for Lunar New Year celebrations. In Hong Kong, the benchmark HangSeng Index ended in the negative territory with a loss of 69.290 points, or 0.29% at 23,484.30. In Indonesia, the benchmark Jakarta Composite Index ended at 3459.93, down 27.77 points, or 0.80% from previous close. In Singapore, the Strait Times Index ended in the negative territory with a loss of 6.82 points, or 0.21% at 3,185.36. In South Korea, the benchmark KOSPI Index ended in negative territory with a minor loss of 12.04 points, or 0.58%, at 2,069.70. In Taiwan, the benchmark Taiwan Weighted Index ended at 9,111.46, down 33.89 points, or 0.37% from previous close. In India, the benchmark BSE Sensex ended in the red with a loss of 261.49 points, at 17,775.70, while the broader Nifty index ended at 5312.55, down 83.45 points. For comments and feedback: contact editorial@rttnews.com Copyright(c) 2011 RTTNews.com. All Rights Reserved |
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enghou
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08-Feb-2011 17:49
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DBS Techncial View   No change in our STI view – Upside to 3438, the current consolidation should end at 3165 worst case 3090 and the index would have to rise above 3230 on the close before the current consolidation is technically considered to have ended. Life Is Great  |
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krisluke
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08-Feb-2011 17:39
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Asian currencies hit multi-year highs against dollar TOKYO - Several Asian currencies soared against the US dollar on Tuesday as a rally by regional shares rekindled risk appetite and interest in the units, dealers said. The Taiwan dollar and Malaysian ringgit struck highs not seen since the Asian financial crisis in 1997, while South Korea's won was at its strongest for two-and-a-half years. The rallies among regional units came as analysts said they expect central banks this year to adopt a strategy of keeping their currencies strong and interest rates high in order to tame inflation, a growing problem in Asia. " The final tool in the armoury of the region's authorities is FX appreciation," Fiona Lake, a Goldman Sachs analyst, wrote in a research note. " Korea, Indonesia and Taiwan have shown greater desire for currency appreciation to help tackle inflation," Dow Jones Newswires quoted Lake as saying. Emerging Asian markets have seen huge inflows of foreign money as their economies came through the global downturn quicker than Western countries, but this has led to rising inflation concerns and interest rate hikes. Indonesia, China, India, Malaysia, South Korea and Thailand have all increased their lending rates and have also introduced other measures to cut down on the inflows and keep price rises from getting out of hand. In afternoon Asian trade, the dollar fell to 1,104.32 Korean won from 1,107.35, to Tw$28.91 from Tw$28.98 and to 8,915.50 Indonesian rupiah from 8,975.25. The greenback also turned down against the euro as players bought back the common European currency on bargain hunting after it fell on the back of weaker-than-expected German economic data, dealers said. The euro bought US$1.3622, up from US$1.3581 in New York late Monday. Against the Japanese unit, the common currency rose to 112.07 from 111.78. The dollar edged down to 82.26 yen from 82.32 yen. The euro fell on Monday after data showed German industrial orders tumbled 3.4 percent in December, much worse than forecasts for a drop of 1.5 percent. " Profit taking (on the euro) emerged after the German data overseas, which then triggered short covering in Tokyo," said Yusuke Fujishima, a dealer at Mitsubishi UFJ Trust and Banking. Besides the technical buy-backs, two dealers cited rumours that Asian central banks were buying the euro. One dealer said he had heard the banks were converting their dollars from intervention operations to limit gains in their currencies, according to Dow Jones Newswires. However, the dollar was being supported by higher yields on US Treasury bonds amid expectations for a recovery in the world's largest economy, dealers said. Investors were also reassessing the prospect of rate hikes in the eurozone, which had boosted the single currency in recent weeks. " For US bond yields to gain further, better US economic indicators and more hawkish Fed comments are needed," Satoshi Tate, senior dealer at Mizuho Corporate Bank, told Dow Jones Newswires. He added that investors would likely pay attention to speeches later Tuesday by the Federal Reserve presidents of Atlanta, Dallas and Richmond. Against other Asian currencies, the dollar fell to S$1.2724 from S$1.2751 on Monday and to 30.70 Thai baht from 30.82, while it also dropped to 43.45 Philippine pesos from 43.67. |
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krisluke
Supreme |
08-Feb-2011 01:59
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Egypt  peace may about time to  lai liao CAIRO : The stock exchange is to reopen on Sunday, two weeks after it was closed with share prices plunging due to the outbreak of Egypt's political crisis, the body's spokesman said. The Cairo bourse closed down 10 points on the day on January 27, after 70 billion Egyptian pounds (12 billion dollars) was wiped off shares in 48 hours, and authorities initially decided to keep it shut until January 30. Egypt has been in the grip of largescale street protests against President Hosni Mubarak, spooking domestic and international investors, but economic life has gradually been returning to normal after the start of political talks. " The exchange, closed because of events, will reopen February 13. Between now and then the situation should stabilise," spokesman Hisham Turk told AFP. " The banking system should by then be working at full capacity and the opening should be steady," he explained. Egypt's banks were also temporarily closed during the crisis, amid fears that depositors would rush to withdraw their cash, but reopened on Sunday when long lines formed in front of many branches. - AFP /ls |
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krisluke
Supreme |
08-Feb-2011 01:50
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Demand drops for latest BTO project SINGAPORE: The latest three Build-To-Order (BTO) projects by the Housing Board Development in Bukit Batok and Yishun are not seeing the same level of interest as the previous project in Punggol. At the latest available update, the three developments in Yishun and Bukit Batok drew about 1.99 applicants for each unit offered. In contrast, the Punggol Topaz BTO project launched in December had nearly seven applicants for each unit offered. The Golden Daisy BTO project in Bukit Batok, which comprises 180 studio apartments, had three applicants for each unit. Studio apartments are only available to those aged 55 and above and have elderly-friendly features such as support grab bars and ramps. The two other projects are Orchid Spring and Vista Spring in Yishun, offering 1548 units. Vista Spring is the more popular of the two BTO projects in Yishun. There were more than two applicants for each of the 276 five-room units. The other BTO project in Yishun, Orchid Spring, had about 1.5 applicants for each unit. Five-room flats proved to be more popular, with 2.5 applications for each unit offered. In contrast, the 192 two-room units received only 124 applications, or 0.7 applications per unit. Market watchers said launching the projects over the Lunar New Year period could have been the reason for the poorer response as property activity usually slows down during this period. Flat buyers may also be waiting for upcoming launches. ERA key executive officer Eugene Lim said: " I would suspect that many of the first-time buyers are actually waiting on the wings for the DBSS (Design, Build and Sell Scheme) site to launch, because for DBSS you can expect condo-style finishes and fittings as well as layout" . Mr Lim added that DBSS flat buyers paid only a slightly higher price than a BTO flat. The DBSS project is expected to be launched in the first half of this year. Application closes at midnight. -CNA/fa/wk |
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krisluke
Supreme |
08-Feb-2011 01:23
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Budget 2011 will be out on Feb 18: MOF  THE Budget 2011 Statement will be delivered by Minister for Finance, Tharman Shanmugaratnam, in Parliament on Friday, February 18. A 'live' webcast of the delivery of the Budget Statement will be available at the Singapore Budget website, http://app.singaporebudget.gov.sg/budget_2011/emailalert/index.asp The Budget Statement will also be uploaded progressively on the website as the speech is being delivered. To subscribe to the Budget Statement mailing list and receive it via email after it has been delivered, members of the public can sign up for the free service on the website from 26 January till 2pm on February 18. |
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krisluke
Supreme |
07-Feb-2011 22:48
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After undergoing intensive safety tests, ride is ready to roll
By LEE U-WEN
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Hulumas
Supreme |
07-Feb-2011 22:41
Yells: "INVEST but not TRADE please!" |
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Yes, you are right . . . I feel the same too!
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Hulumas
Supreme |
07-Feb-2011 22:40
Yells: "INVEST but not TRADE please!" |
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No, I won't do so!
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krisluke
Supreme |
07-Feb-2011 22:33
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  After quite a long weekend, investors and traders must be wondering how the Singapore market will open on Monday. Being closed for two days while the rest of the world trades on, it is possible that the market might run away when it opens, in a manner of speaking. That is not such a good idea if one had a position to close urgently or if one could not bear to miss the train.
Up till this point, the inputs are all based on price. They are most important and can tell a sufficiently clear story. If the picture is not clear enough, we could put in some indicators to help us.
Once you are done with the above, put together the pieces and make it into a story that is consistent with technical rules, plausible to common sense judgment and inline with other input. These can be news headlines, vibes or even the chart analysis of other market indices. View Full-sized Image Now let’s apply these steps to the Straits Times Index.
Putting It Together Till date, STI is moving uptrend with no potential reversal in sight. Indicator study shows that it may be temporarily oversold so that is a boon to bullish traders. That said, the index is near to a critical 2-year high formed in May 2008 so bulls again have to watch out when the index nears that level. On the other hand, the story also says that bears have no sign to support them and should keep watch further. |
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