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STI to cross 3000 boosted by long-term investors
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krisluke
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07-Feb-2011 21:59
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Iran unveils missiles, satellites as warning to foes
TEHRAN (Reuters) - Iran showed off new missile and satellite technology on Monday, and told its enemies it had " complete domination" of the entrance to the oil-rich Gulf.
  As part of Iran's annual revolution celebrations, a time traditionally marked by new technological and military advances, President Mahmoud Ahmadinejad unveiled locally-made satellites while a senior commander showed off mass produced missiles.   " We should reach a point where we will be able to provide our knowledge and technology in the aerospace field to other countries," Ahmadinejad said in a speech, unveiling the satellites he said were for scientific purposes, and showing film of a satellite-carrier rocket.   Although Iran is not engaged in any military conflict, it is on constant alert against possible attacks from the United States and Israel which have not ruled out possible pre-emptive strikes to stop Tehran getting nuclear weapons.   Iran says it has no intention of making nuclear bombs and that its atomic programme, which is the subject of U.S., European and U.N. sanctions, is entirely peaceful.   In 2009, Iran launched a domestically-made satellite into orbit for the first time, a step that increased the West's fear that the Islamic Republic is seeking to build a nuclear bomb and missile delivery systems.   The chief commander of the Revolutionary Guards, Mohammad Ali Jafari, said the new mass-produced missile would be able to target enemies at sea.   " Its speed is three times greater than the speed of sound and it cannot be traced and deactivated by enemies," official news agency IRNA quoted Jafari as saying.   Another Guards commander, Ali Fadavi reiterated Iran's threat to close the Strait of Hormuz, the narrow channel through which 40 percent of the world's seaborne oil trade passes.   " The Persian Gulf and the Strait of Hormuz are under the complete domination of the Revolutionary Guards ... and it would be blocked in case of a threat," he said, according to the semi-official Mehr news agency.   Foreign analysts say Iran would be reluctant to take such a drastic step as it would cut off its own oil exports.   (Reporting by Hossein Jaseb Writing by Reza Derakhshi Editing by David Stamp) |
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krisluke
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07-Feb-2011 20:46
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Korea’s stock market capitalization returned to the $1 trillion level for the first time in three years in 2010 as an economic recovery and corporate profit gains led to strong rallies, the bourse operator said Monday.
The country’s total market cap of its main board and the tech-heavy junior market reached $1.92 trillion at the end of 2010, up 30.8 percent from a year earlier, the Korea Exchange said, citing data from the World Federation of Exchanges.
It was the first year-end reading over the $1 trillion milestone since the $1.12 trillion seen at the end of 2007 before the global financial crisis pummeled global stock markets, the KRX said. As of end-2010, Korea accounted for 1.99 percent of the total world stock market cap, ranking as the 17th-largest bourse in the world, the KRX said. The total global market cap stood at $54.9 trillion as of the end of last year, 14.9 percent more than a year earlier, according to the local bourse operator. The global figure marks the highest level since 2007 when the world market cap hit an all-time high of $60.9 trillion, it added.  (Yonhap News) |
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krisluke
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07-Feb-2011 20:01
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not says to follow, but as a guide to the performance of asia market. I think so...
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krisluke
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07-Feb-2011 19:54
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Several reports out of China despite being closed about additional cooling measures for the property market. 5 major state owned banks in Shenzhen has confirmed they have gotten rid of their preferential interest rate for first-time homebuyers Another move aimed at cooling the housing market. According to Midland Realty in Hong Kong, the 4 major housing estates in Hong Kong in January all surpassed their 1997 peak for property prices Sales on new homes fell to a 2-year low in January though are expected to pick up again after the New Year. ***Speakers/Geopolitical/In the press*** - (CH) ANZ Bank sees China raising interest rates 4 times in 2011 with GDP hitting 9.6% - (NZ) New Zealand raises minimum wage by about 2% to NZ$13/hour - (JP) Japan Ministry of Finance (MOF): Will increase lending to IMF by $1.6B in order to assist Ireland - (AU) Latest Newspoll is showing the PM Gillard and her Govt have the lowest approval rating since the ousting of former PM Kevin Rudd - Australian Media - (KS) South Korea's financial regulator, Financial Services Commission, to probe the Nov 11th decline in the domestic equity markets - US financial press ***Equities*** - Hyundai Motor Co: US Exec: US market share could rise to over 5% in 2011 v 4.6% y/y 2011 US sales could rise by 10% y/y - QAN.AU: CEO Joyce: May add new long haul routes in order to keep the business " relevant" - Interview with Australian Press - NSANY: Admitted that there will be a delay in deliveries for the electric Leaf vehicle - FT - SUN.AU: CEO Snowball: Will increase margins to 3% by 2012 despite recent flood and cyclone Denies that premiums will increase by 30% due to recent natural disasters - The Australian ***FX/Fixed Income/Commodities*** (CH) China is adding to its reserves of rare-earth metals - US financial press
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rotijai
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07-Feb-2011 19:38
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i realise that nowadays STI doesnt follow DJ or euro markets.. so it is not so relevant to follow them anymore (unless there's a global incident like eygpt's protest) ? |
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krisluke
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07-Feb-2011 19:35
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Posted on | February 7, 2011 | one week in DJ
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krisluke
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07-Feb-2011 19:18
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Eurozone Investor Confidence Highest In More Than Three Years(RTTNews) - An indicator of investor sentiment in the Eurozone rose to the highest level in three-and-a-half year high, despite the currency bloc facing debt woes, a new survey showed on Monday. |
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krisluke
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07-Feb-2011 18:29
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Singapore Foreign Currency Reserves Rise (RTTNews) -  Singapore's total reserve assets rose to S$290.5 billion in January from S$289 billion in the previous month, the Monetary Authority said on Monday. The city-state's special drawing rights amounted to S$2 billion, while its reserve position with the International Monetary Fund was at S$502.4 million. Singapore is the tenth largest holder of foreign exchange reserves in the world. by RTT Staff Writer |
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krisluke
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07-Feb-2011 18:25
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Asian Markets End Mixed (RTTNews) -  Mixed trading was witnessed among the major markets open for trading across the Asian region on Monday, the first day of a fresh trading week. The markets in China and Taiwan were closed for holidays ahead of Lunar New Year celebrations. Among the other markets that functioned during the day, the markets in Australia, Japan, India, and South Korea ended in positive territory while the markets in HongKong, Singapore and Indonesia ended in negative territory with moderate losses. In Australia, the benchmark S& P/ASX200 Index advanced 5.80 points, or 0.12 percent and closed at 4,868.50 points, while the All-Ordinaries Index ended at 4,964.30 points,, representing a gain of 5.50 points, or 0.11 percent. On the economic front, a report released by the Australian Industry Group revealed that an index measuring construction activity in the country came in at 40.2 in January, declining for the eighth consecutive month. That's down from 43.8 in December, due largely to the massive flooding in the country's northeast. A reading above 50 indicates expansion, while a score below means contraction. Among the individual categories, home building dropped 2.2 points to 37.3, while engineering work plunged 19.6 points to 38.7 and commercial work declined 5.6 points to 38.6. A report released by the Australian Bureau of Statistics revealed that retail sales in Australia climbed a seasonally adjusted 0.2 percent in December, coming in at A$20.358 billion. That was below forecasts for an increase of 0.5 percent following the upwardly revised gain of 0.4 percent in November. By individual industry, cafes, restaurants and takeaway food services declined 0.8 percent on month, while other retailing fell 0.3 percent, as did department store sales and clothing, footwear and personal accessory retailing eased 0.1 percent. Food retailing was relatively unchanged, while household goods retailing added 0.5 percent. Results of a monthly survey conducted by the ANZ Bank revealed that total job advertisement in Australia were up a seasonally adjusted 2.4 percent in January compared to the previous month, standing at 192,120 while rising for the 12th consecutive month. That followed a gain of 1.2 percent in December, which was revised down from 2.0 percent. Internet job ads added 2.5 percent on month to 183,136, while newspaper ads eased 0.1 percent on month to 8,992. Light sweet crude oil futures for March delivery was trading at $89.20 a barrel in electronic trading, up $0.17 per barrel from previous close at $89.03 a barrel in New York on Friday. Banking stocks ended in positive territory on optimism about global economic recovery. ANZ Bank advanced 0.21%, Commonwealth Bank of Australia gained 0.77%, National Australia Bank rose 0.60% and Westpac Banking Corp. was higher by 0.65%. Investment banking company Macquarie Group however bucked the trend and ended in the red with a loss of 1.32%. Retail related stocks ended weaker on weaker than expected retail sales data for January. David Jones plunged 4.23%, Harvey Norman shed 3.62%, Metcash Ltd slipped 0.24%, and Woolworths declined 0.24%. JB Hi-Fi Ltd, however, bucked the trend and ended in the green with a gain of 1.83%. In Japan, the benchmark Nikkei 225 Index gained 48.52 points, or 0.5%, to 10,592.04 while the broader Topix index of first section issues advanced 5.07 points, or 0.5%, to 940.43. On the economic front, preliminary data released by the Cabinet Office in Japan revealed that Japan's leading index rose to 101.4 in December from 100.6 in the prior month. The reading came in line with economists' expectations. The coincident index also improved for the second consecutive month in December. Matching consensus forecast, the index came in at 103.1, up from 102.4 in November. At the same time, the lagging index rose to 89.1 from 87.8 in the prior month. A statement released by the Ministry of Finance revealed that Japan's reserve assets totaled $1.09 trillion at the end of January, down $3.2 billion from the previous month. Japan's foreign currency reserves amounted to $1.03 trillion, while its gold and SDR reserves totaled $32.6 billion and $20.9 billion respectively. The country's reserve position with the International Monetary Fund amounted to $4.7 billion. Light sweet crude oil futures for March delivery was trading at $89.20 a barrel in electronic trading, up $0.17 per barrel from previous close at $89.03 a barrel in New York on Friday. Automotive stocks ended in positive territory. Toyota Motor Corp. gained 0.87 percent, Suzuki Motor Corp. added 0.25 percent, Nissan Motor Co. remained unchanged from previous close and Mitsubishi Motor Corp. climbed 1.71 percent. Real estate related stocks advanced on optimism about economic recovery. Sumitomo Realty & Development gained 0.97 percent, Mitsubishi Estate Co Ltd climbed 1.20 percent, Mitsui Fudosan Co added 0.24 percent and Heiwa Real Estate was higher by 0.37 percent. Shares of marine transport related companies ended in positive territory. Mitsui OSK Lines gained 1.30 percent, Kawasaki Kishen Kaisha Ltd climbed 1.44 percent and Nippon Yusen advanced 1.67 percent. Among the other major markets, the Chinese market and the Taiwanese market were closed for public holiday. In Hong Kong, the benchmark HangSeng Index ended in the negative territory with a sharp loss of 355.37 points, or 1.49% at 23,553.59. In Indonesia, the benchmark Jakarta Composite Index ended in the red with a modest loss of 8.46 points, or 0.24%, at 3,487.71. In Singapore, the Strait Times Index ended in the negative territory with a modest loss of 18.94 points, or 0.59% at 3,192.18. In South Korea, the benchmark KOSPI Index ended in the green with a modest gain of 9.71 points, r 0.47%, at 2,081.74. In India, the benchmark BSE Sensex was trading in the green with a modest gain of 24.28 points, or 0.13%, at 18,032.43 while the broader Nifty Index is gaining 5.00 points, or 0.09% at 5,400.75. by RTT Staff Writer |
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krisluke
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07-Feb-2011 18:19
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krisluke
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07-Feb-2011 16:53
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Indonesia Posts Strong GrowthIn Jakarta, Indonesia officials have reported that gross domestic product grew 6.1 per cent last year, as South-east Asia’s biggest economy confirmed its position among the top ranks of emerging markets. ‘Our domestic growth in 2010 reached 6.1 per cent,’ Central Statistics Agency chairman Rusman Heriawan told reporters. Rusman Heriawan said the resource-rich country of 240 million people posted 6.9 per cent growth in the fourth quarter compared with 5.8 per cent a year earlier, making it one of the best performers in the Group of 20 rich and developing countries. The full-year growth figure compared with 4.5 per cent in 2009 and was in line with expectations, putting Indonesia on course to reach its target of 6.0-6.5 per cent growth in 2011. The Jakarta index moved higher on the data, with the benchmark index 0.1 per cent firmer at 3,499.613 at midday. The Jakarta Composite Index soared around 40 per cent last year but has shed more than five per cent so far in 2011 due to concerns about rising inflation, on top of persistent infrastructure bottlenecks and endemic corruption. |
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krisluke
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07-Feb-2011 16:51
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What to expect this week and down the line… The economic this week is light, and all eyes are focusing on when Egypt’s embattled President will either ankle or be forced out and into exile. The US market is in a good long rally, and although many talking heads are calling for a pull back, it may not happen. The NAS is leading and ready to break through its recent highs. The Techs and Financial always lead the Bull’s Charge, they have been in the lead since March 9, 2009, as money continues to flow into tech stocks. It was in play again last Friday driving the index higher. This market does not want to fall back, the Bears try to push it down, and the bids stand and keep coming up. Remember, the US Fed’s money “faucet” is wide open still + we are seeing the retail buyer getting interested, as some join in now seeing the big cap leaders in recovering nicely. This week I will be watching to see if the leading NAS holds the break, and buying continues to upside plays, while always being on the alert for plays on the downside. The Big money is staying in the market, the Key is to be alert for when and where it moves. Money always rotates around the market, savvy players follow that movement as it pushes the good stocks higher. You can see my pics on the movement daily on www.livetradingnews.com Hot Picks. Check it out. It is clear that this US market up leg know this leg is extended in here, but the rule is always say with the move as long as they move up, and mark new buy points. Thank you US Fed. Chairman Bernanke said last week that he will stand by that open Money Faucet, as he believes that the unemployment rate is still too high, and that there are still too few jobs being created for any kind of self-sustaining recovery, and that means that he will keep pumping that liquidity into the US economy. There is a Strong lateral base under this rally and that augurs more upside ahead. We all know that a market can run North a lot longer that many believe it can or should. Remember, the Trend is Your Friend, but it is also important to be ever alert and nimble and always take what the market gives. |
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krisluke
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07-Feb-2011 16:40
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Oil falls as investors look past Egypt unrest
* OPEC member comments aid prices
  * US oil seen at $88.06-$90/bbl-technicals   * Coming Up: U.S. employment index 1500 GMT (Adds details, updates prices)   By Seng Li Peng   SINGAPORE, Feb 7 (Reuters) - U.S. crude futures reversed gains from earlier on Monday to fall below $89 a barrel, as investors looked past the political crisis in Egypt and took note of heavy inventories in the U.S.   Oil prices were also earlier buoyed by comments made by OPEC members at the weekend. Kuwait said oil prices could exceed $110 a barrel if Egypt's unrest continued, and Venezuela said prices could more than double to $200 if the Suez Canal closed.   Iran -- which holds the rotating OPEC presidency -- said there would be no need for an emergency OPEC meeting even if oil prices hit $120.   " But the fall in prices now does not surprise me," said Tony Nunan, a risk manager with Tokyo-based Mitsubishi Corp.   " There was a panic reaction towards the Egyptian crisis earlier, but there should be a technical correction in prices to the mid $80s level."   U.S. crude for March fell 38 cents to $88.65 a barrel at 0809 GMT, while ICE Brent rose 14 cents to $99.98 a barrel.   Oil prices fell nearly 2 percent on Friday as an unfounded report from Egypt set off speculation that President Hosni Mubarak could step down shortly.   Opposition groups including the banned Muslim Brotherhood held talks with the government on Sunday to resolve Egypt's political crisis, but said their core demand for the removal of the president was not met.   Demonstrators in central Tahrir Square, focal point of an uprising that has rocked the Arab world and alarmed Western powers, said they would intensify their 12-day battle to oust the president who has vowed to stay on until September.   What really worries traders is that unrest in Tunisia and Egypt could fuel similar protests in bigger oil producers such as Libya -- or even Saudi Arabia, creating massive uncertainty over oil supplies.   " OPEC (Organization of the Petroleum Exporting Countries) is more than happy to see those levels (above $95 a barrel), and jobs data in the U.S. is also positive, but in my opinion, $90 a barrel is going to hurt the economy's recovery," said Benson Wang of Commodity Broking Services in Sydney, who added that the unrest in Egypt will be resolved.   " But crude supplies are still heavy," said Wang, pointing out that fundamentals are not strong enough to sustain the high crude prices.   Domestic U.S. crude stocks rose 2.59 million barrels to 343.16 million barrels in the week to Jan. 28, data from EIA showed.   Egypt controls the Suez Canal and the Suez-Mediterranean (SUMED) oil pipeline, which together moved over 2 million bpd of crude and oil products in 2009.   More than 34,000 vessels passed through the canal in 2009, of which nearly 2,700 were oil tankers carrying some 29 million tonnes of oil, according to the U.S. Energy Information Administration.   " The Suez remains open and people are more comfortable now with the situation and they know that sooner or latter, Egypt's president will go. These took some of the premiums off crude prices," said Nunan.   Venezuela's oil minister Rafael Ramirez, who is usually hawkish on prices, said on Friday that OPEC would call an emergency meeting if the canal closed.   " There is sufficient oil (in the market) and there have been no interruptions, but if they close Suez, that could take the oil price to $200," he told reporters.   OPEC members will meet with consumers at an energy conference in Riyadh on Feb. 22 and are expected to talk informally about output levels.   The dollar held its ground against a basket of major currencies early in Asia on Monday, with markets growing wary of a reversal in a bearish trend after the greenback bounced off multi-month lows versus the euro late last week.   The dollar index , which tracks the greenback against a basket of major currencies, slipped 0.07 percent to 77.988 at 0811 GMT but still above a three-month low of 76.881 plumbed on Wednesday.   On the data front, the U.S. economy added a meager 36,000 jobs in January, far less than expected, as severe snow storms slammed large parts of the nation, but the unemployment rate fell to its lowest level since April 2009.   The positive data, which reflected an optimistic economic outlook, pushed the Asian stocks up to near a three-year high.   South Korea and Japan led gains, with the former ending up below a record high and the latter closing at a nine-month peak.   Japan, which is the best performing Asian market this year with year-to-date gains of more than 3 percent, has benefited from a shift into developed markets and generally strong corporate earnings. The index closed at 0.5 percent higher. (Reporting by Seng Li Peng Editing by Ed Lane) |
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krisluke
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07-Feb-2011 16:28
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(RTTNews) -  European stocks are poised to open higher on Monday, taking cues from a positive close on Wall Street Friday and firm Asian cues, as signs of life in the U.S. labor market help offset worries about the political unrest in Egypt.
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krisluke
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07-Feb-2011 16:22
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HK stocks slide as crude price slip hits oil cos
HONG KONG, Feb 7 (Reuters) - Hong Kong shares slid on Monday, with losses accelerating into the close as weakness in oil producers weighed, although overall turnover remained subdued with mainland markets still closed for the Lunar New Year holiday.
  The Hang Seng Index < .HSI> fell 1.49 percent to 23,553.59 after trading slightly higher at the open. The index jumped 1.8 percent on the last trading day before the holiday. (Reporting by Vikram Subhedar Editing by Chris Lewis) (vikram.subhedar@thomsonreuters.com +852 2843 6975 Reuters Messaging: vikram.subhedar.reuters.com@reuters.net)) |
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krisluke
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07-Feb-2011 15:15
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HK shares ease as crude price dip pulls down oil cos
By Vikram S.Subhedar
  HONG KONG/SHANGHAI (Reuters) - Hong Kong shares fell on Monday, reversing earlier gains as weakness in oil producers weighed on the index, but overall turnover remained subdued with mainland markets still closed for the Lunar New Year holidays.   The Hang Seng index was down 0.5 percent at 23,791.5 after trading slightly higher at the open. The index had jumped 1.8 percent on the last trading day before the holiday.   Hong Kong's benchmark is up 3.3 percent so far this year, helped largely by a strong performance in the first two weeks of January.   However, that rally stalled in the second half of the month as a tepid Shanghai market and a pull back in risky emerging market assets prompted profit-taking, with market players saying investors remain wary.   " Client conviction is low," said a Hong Kong-based equity trader at a large U.S. bank.   " Its too high to buy and shorting is not working and that's keeping volumes low," said the trader, adding that there was talk that inflation in China in March would reach 6 percent.   Concern over rising consumer prices, in particular food, has hit emerging markets in Asia this year as funds pulled money from high inflation countries such as Indonesia and India, favouring developed markets and North Asia instead.   Investors pulled $7 billion out of emerging market equity funds in the week of February 4, the biggest outflow in three years, data from fund tracker EPFR Global showed, putting a sizeable dent in the record inflows seen in this category in 2010.   A nearly 2 percent fall in oil prices on Friday weighed on major oil producers, which were the biggest drag on the Hang Seng index.   CNOOC fell 1.6 percent while refiner Sinopec dropped 2.3 percent, easing from an over two-year high.   Macau casino operators were broadly lower with shares of Wynn Macau Ltd. the hardest hit, down 5.5 percent, after worse-than-expected revenue from rival Las Vegas Sands prompted investors to cash in on recent gains.   Wynn shares hit a record high on January 28 and are still up over 11 percent this year, building on last year's mammoth 82.2 percent rise.   Bucking the weak trend, shares of Hutchison Whampoa rose to their highest level in over 3 years, up 1.2 percent on healthy volume. Shares of Hutch have gained 21 percent this year.   Paul Cheung, an analyst at Samsung Securities in Hong Kong, said along with improving returns from investments in Hutch's 3G business, the market had become more excited about prospects of further asset spin-offs.   Last month, Hutch announced that it would raise up to $6 billion via a Singapore listing of its port unit. |
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niuyear
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07-Feb-2011 14:14
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.................You are seeing money going to the U.S. market because valuations are more attractive." ............... Now,   everyone is interested in   going back to US market.
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Hulumas
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07-Feb-2011 11:01
Yells: "INVEST but not TRADE please!" |
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But, overall inflows more than outflows!
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iPunter
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06-Feb-2011 21:11
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krisluke
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06-Feb-2011 21:04
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ECB will hike rates if no yr-end slowdown in inflation
* ECB will raise rates if inflation doesn't slow by yr-end
  * Spain needs deeper structural reforms   * Euro not at risk, but cant' ignore market pressure   (Recasts with inflation comments, adds details, quotes)   By Judy MacInnes   MADRID, Feb 6 (Reuters) - The European Central Bank will have to raise interest rates if the rate of inflation does not begin to slow by the end of 2011, ECB Executive Board member Jose Manuel Gonzalez-Paramo said.   " The ECB is confident that the current uptick in inflation is temporary, linked to the price of certain raw materials. We hope it will begin to fall again at the end of the year," Gonzalez-Paramo said in an interview with the ABC newspaper on Sunday.   " But if that doesn't happen we will need to raise rates. We cannot let (inflation) get out of control. The loss of credibility in anchoring inflation has very serious, negative consequences," he said.   The ECB left euro zone interest rates at a record low of 1 percent on Thursday and tempered speculation of a near-term rate hike by saying last month's larger-than-expected inflation jump had not altered its assessment of medium-term price risks.   Gonzalez-Paramo ruled out the risk of stagflation in the eurozone, with the inflation rate running close to 2 percent, but acknowledged that Spain " is a situation apart" as it has to absorb the impact of a decade-long property boom turning sour.   " Spain is looking for a new path. It has to refocus its resources ... More structural reforms are needed," he said.   While Spain has embarked on a series of structural reforms, including an overhaul of its labour laws and pension system, the key to the country's recovery is a reform of collective wage bargaining.   " The key objective is the reform of the collective bargaining system. The country's recovery lies there and not to be aware of that is doing the economy no favours," Gonzalez Paramo said.   Linking salaries to inflation is outdated and " prevents any adjustment to the labour market," he added.   Spain's government, unions and employers associations signed a broad social pact last week on job creation and industrial development, but left difficult issues such as collective wage bargaining procedures for future talks.   The euro is not at risk, but the market's perception of some governments' lack of commitment to fiscal obligations cannot be ignored, Gonzalez-Paramo said.   " It's very important to know what the market is thinking," he said. (Editing by David Holmes) |
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