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STI to cross 3000 boosted by long-term investors
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krisluke
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27-Jan-2011 15:58
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China c.banker says policy not too tight -media
* China's current monetary policy not overly tight -c.banker
* RRR and interest rate rises are both possible tools * Policy change needs to be swift yet prudent (Adds details, background) BEIJING, Jan 27 (Reuters) - China's current monetary policy is "not overly tight" and must be normalised as soon as possible to ward off inflation, state media quoted central bank governor Zhou Xiaochuan as saying in remarks published on Thursday. A news official with the central bank told Reuters that the interview, reported on the website of China News Service, had been conducted in December, before the country's money markets were hit by the acute squeeze of recent days. [ID:nTOE70Q03W] The central bank has been forced to row back somewhat from its tightening stance, conducting large net injections via its open-market operations for two straight weeks to meet the needs of cash-strapped banks. From Zhou's view in December, however, conditions in the economy were not too tight. "Policy adjustment needs to be as timely as possible to curb price rises and asset bubbles. It needs to be returned to normal as soon as possible," he said. The central bank has raised lenders' required reserves four times and interest rates twice since October, a tightening bias that it confirmed by announcing a shift to a "prudent" stance from its previous "appropriately loose" footing. But Zhou said that "prudent" meant neutral in the central bank's range of policy settings from "tight" to "loose". When asked whether rises in required reserves work better than interest rate increases, Zhou said: "The possibility of both quantitative and pricing tools cannot be excluded." "The central bank has always paid attention to the use of interest rate policy," Zhou added. In the medium term, China's average deposit rates must be higher than growth in the consumer price index to protect households' savings, but it is not always the case at every moment, Zhou said. Zhou also noted that external uncertainties weighed on his outlook. He said the outbreak of the European sovereign debt crisis and the weakening of U.S. economic growth despite its "pretty good" recovery in early 2010 had been surprising. "These incidents make you think that the economic recovery is not strong enough. Under such conditions, we probably need to be more prudent when using some tools," he said. (Reporting by Langi Chiang, Aileen Wang and Simon Rabinovitch; Editing by Ken Wills) |
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bsiong
Supreme |
27-Jan-2011 15:53
Yells: "The Greatest Wealth is Health" |
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FOR YOUR REFERENCE Technical Outlook for STI
/OCBC IR/ |
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krisluke
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27-Jan-2011 13:18
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ya hor, thanks for the reminder hsi and sse telcos gain offset weak properties...
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victorf
Master |
27-Jan-2011 13:04
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still the same call....Market still in NEUTRAL MODE....good luck :)
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krisluke
Supreme |
27-Jan-2011 12:36
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tips resistance at 3250 pts for an aggressive upside. cheers. |
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SGG_SGG
Master |
27-Jan-2011 12:29
Yells: "karma karma karma chameleon" |
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Today children very stubborn. Must use stun gun! |
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niuyear
Supreme |
27-Jan-2011 12:27
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your nick name is good and auspicious, so, you must plea more for STI. I must change my nick name from Niuyear to Tuyear (thisyear is rabbit)
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SGG_SGG
Master |
27-Jan-2011 11:47
Yells: "karma karma karma chameleon" |
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C'mon sweetheart... It's now or never! | |||||||||||||||||||||||||||||||||||||||
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krisluke
Supreme |
27-Jan-2011 10:41
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new ipo update > xmh - .24 cents > zmbh - .385 cents > harry's - .19 cents onli zhbh rocks ipo.. |
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krisluke
Supreme |
27-Jan-2011 10:07
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sian, sse and hsi not performing, hsi almost at 10 years low... i think it better to be back at mar, earliest mid feb to the market. plus asia is in the festival mood, most board will be closed for holiday.
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Hulumas
Supreme |
27-Jan-2011 09:38
Yells: "INVEST but not TRADE please!" |
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Dow is about experiencing correction. Switching from DOW & S&P counters trend to SSE and SZSE are commencing!
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Bluevaio
Senior |
26-Jan-2011 23:14
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Will Dow take out 12000 today? | |||||||||||||||||||||||||||||||||||||||
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krisluke
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26-Jan-2011 19:53
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U.N. food body FAO warns against food export curbs
MILAN (Reuters) - The United Nations' food agency warned food producing countries on Wednesday against introducing export curbs to protect local markets as world food prices rose close to levels that triggered food riots in 2007/2008.
Global food prices rose above 2008 highs in December with the Food Price Index of the U.N. Food and Agriculture Organisation (FAO) at record highs. Wheat and other grains rallied in January on concerns about tight supplies, with Euronext milling wheat futures hitting new contract highs on Wednesday. "FAO strongly advises against such measures, as they often provoke more uncertainty and disruption on world markets and drive prices up further globally, while depressing prices domestically and hence curtailing incentives to produce more food," Richard China, director of the FAO Policy and Programme Development Support Division, said in a statement. Grain prices surged in 2010 as wheat was driven higher by a series of weather events including drought in Russia, which introduced an export ban. In 2008, several countries curbed exports. New price shocks have raised serious concerns about implications for food markets in vulnerable countries, the FAO said in the statement, as it published updated guidelines on how to deal with high food prices in developing countries. This month has seen civil unrest in several countries including Algeria, Jordan and Sudan, due at least in part to high food prices. The agency has called upon countries not to take any policy actions that might appear useful in the short term but could undermine existing markets and have harmful longer-term effects or even aggravate the situation. "In cases where markets are malfunctioning or absent, it may be necessary to take extreme measures that shortcut market mechanisms. In this situation, interventions could also be used to help private sector operators emerge," the agency said. In the medium and longer term, only investment in developing countries' agriculture would ensure sustainable productivity growth, healthy markets, increased resilience to international price spikes and improved food security, FAO's China said. (Reporting by Svetlana Kovalyova; Editing by Anthony Barker) 2011-01-26 13:05:20 |
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krisluke
Supreme |
26-Jan-2011 19:51
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Shanghai rebounds, Hong Kong up, but investors wary
(Fixes day in first paragraph)
* Hang Seng struggles to hold onto gains; up 0.2 pct * Shanghai Comp up 1.2 percent but turnover at 4-mth low * HSBC shares drop on unexpected contraction in UK economy * SJM slumps on family feud, traders see buying opportunity * Short-selling in China ETF shows caution (Updates to close) By Vikram S.Subhedar and Chen Yixin HONG KONG/SHANGHAI, Jan 26 (Reuters) - Hong Kong shares rose for the first time in five days on Wednesday, though losses in banking heayweight HSBC and flagging turnover suggested investor confidence remained frail. The Hang Seng ended up 0.2 percent, with HSBC the biggest drag on the benchmark index after an unexpected contraction in the UK economy hit shares of Europe's largest lender. HSBC's Hong Kong-listed shares fell 1 percent. The Shanghai Composite Index <.SSEC rose 1.2 percent, but turnover shrunk to its lowest in four months as investors continued to worry that Beijing will unleash more policy tightening measures this year to cool inflation. The Shanghai index has lost 4.2 percent this year, making it North Asia's worst performing equity market. "It's quite normal for it to rebound following losses over the past few sessions. But if volume remains thin, the index has little potential to rise," said Chen Shaodan, a senior analyst at China Development Bank Securities in Beijing. Trading activity remained light ahead of the Lunar New Year holidays in early February, while foreign investors remain wary about Chinese shares after the Shanghai index lost more than 14 percent last year. While short-selling of Hong Kong-listed mainland China companies, or H shares, has broadly slowed from levels late last year, exchange traded funds (ETF) have seen activity pick up. The most shorted, China-related ETF is the iShares FTSE A50 which shows short interest is at a six-month high of 6.5 percent, according to Data Explorers. The data provider, which tracks short-selling activity across global markets, said that while the high short-interest for the ETF must be partly hedging, it also reflected recent nervousness about prospects for China's domestically listed shares. A squeeze in China's money markets heading into the Lunar New Year, when cash demand is at its highest, has hit bank funding and hurt the local bond and stock markets. However, some speculators sought opportunities to pick up beaten down shares with the index of small-cap shares rising 1.3 percent, outperforming the broader market's rise. Water companies were the biggest gainers on the Shanghai market after a report said investment in water conservation projects would hit 2 trillion yuan ($303.8 billion) over the next five years. China Gezhouba Group Co Ltd , builder of the mammoth Three Gorges Dam, bounced 6.2 percent after sliding on Tuesday, while Chongqing Three Gorges Water Conservancy and Electric Power jumped by its 10 percent daily limit. HONG KONG EDGY, HSBC WEIGHS In Hong Kong, the Hang Seng dipped in and out of positive territory in choppy trade. While the index has managed to stay above a medium-term upward trend line in place since its May 2010 low, a strong start to the year has stalled as mainland markets continue to underperform. Besides HSBC, Macau casino operator SJM Holdings Ltd was also in focus, sliding nearly 5 percent as a family feud over control fo the company threatened to escalate into an extended legal wrangle for control. Some analysts and traders said the near-term weakness could be a good opportunity to buy the stock given the company's strong revenue from its casino operations. "There is no reason to think that the current kerfuffle will impact SJM's existing businesses over the near term. The brands in Macau remain very strong," said RBS analyst Philip Tulk. Another Hong Kong-based trader at a Japanese bank said the shares already traded at a discount to peers based on forward valuations and any widening of that discount because of weakness would represent a good opportunity to buy for the long term. SJM trades at a 37 percent discount to its peers based on the forward 12-month price-to-earnings multiple using Thomson Reuters Starmine's SmartEstimate, which gives a higher weighting to historically accurate and more recent estimates. (Editing by Kim Coghill) ($1=6.582 Yuan) ASIA-PACIFIC MARKETS Pan-Asia...... Japan........ S.Korea.... S.E. Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency.. Eurostocks........... Oil........... JP bonds... ADR Report.......... LME metals.. US bonds... Stocks News US... Stocks News Europe... DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Taiwan diary Wall Street Week Ahead Eurostocks Week Ahead World forecasts TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks <0#.INDEX> Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt <0#USBMK=> Hong Kong Dollar LME price overview ($1=6.582 Yuan) 2011-01-26 11:00:29 |
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krisluke
Supreme |
26-Jan-2011 19:44
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Oil prices rebound ahead of Fed statement
* Dollar index at 10-week low ahead of Fed meeting
* Brent premium to U.S. crude rises to near $10 a barrel * Coming up: EIA weekly oil inventories at 2030 GMT (Recasts, updates prices, changes dateline to LONDON) By Emma Farge LONDON, Jan 26 (Reuters) - Oil prices bounced higher on Wednesday after two days of losses as the dollar fell to 10-week lows ahead of a U.S. Federal Reserve statement expected to focus on positive economic prospects for the world's top oil consumer. The Fed is expected to underscore reasons for optimism even as it reaffirms its economic stimulus plan to buy $600 billion in government debt in its 1915 GMT statement. Brent crude futures on ICE led the rally, rising by $1.24 to $96.49 a barrel and lifting its premium to the U.S. crude benchmark to near $10. U.S. crude was up 62 cents at $86.81 a barrel by the same time. "The market is looking forward to the Fed decision and there's been a tiny pull-back in the dollar so there's a small rebound higher," said analyst Andrey Kryuchenkov of VTB Capital. The dollar fell to 10-week low against a basket of currencies on Wednesday and helped prod oil prices higher since it makes commodities cheaper for non-dollar buyers. European shares rose on Wednesday in a move that also helped to lift sentiment on the oil market. The rally on crude futures came despite a more-than-expected 2.1 million barrel drop in U.S. crude oil stockpiles last week, according to the American Petroleum Institute. But this bearish news was tempered by a steep 5 million barrel draw in distillate stocks after prolonged period of freezing conditions in the U.S. northeast heating hub. The Energy Information Administration (EIA) is expected to publish its closely watched data on U.S. oil stocks at 2030 GMT. $100 OIL? The two oil benchmarks are now around 3-6 percent below January peaks when prices touched more than two-year highs and sent off alarm bells that oil prices would surge through the $100 a barrel milestone. The Brent front month rose to within 80 cents of $100 a barrel on January 14. Analysts at Credit Agricole CIB and Facts Global Energy said that the immediate risk of a breach of $100 has now receded with prices likely to trend lower through the first quarter. "I think the fall is justified by the disappearance of very cold weather in Europe and the restart of the Alaskan pipeline as well as signs that the Organization of Petroleum Exporting Countries is increasing production," said analyst Christophe Barret at Credit Agricole. Freezing conditions in Europe in December have led to draws in distillate stocks used for heating but temperatures have since turned milder. Worries that inflation could prompt more interest rate hikes in emerging markets has also dampened expectations for future demand growth, which the International Energy Agency already predicts to rise at only about half the pace as last year. India raised its interest rates for the seventh time in 10 months on Tuesday, saying inflation was likely to continue due to rising costs for raw materials and food. Technical charts show that U.S. crude prices have already fallen below their 50-day moving average and some analysts expect it to fall further to $81-$82 a barrel. (Additional reporting by Florence Tan in Singapore; Editing by Alison Birrane) 2011-01-26 13:00:43 |
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krisluke
Supreme |
26-Jan-2011 19:40
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Wall St Week Ahead: Bar set high as stocks eye pullback
(Repeating column initially transmitted late on Friday; Adds State of Union address)
By Edward Krudy NEW YORK, Jan 23 (Reuters) - The much anticipated pullback is finally under way, some investors say, after a mid-week wobble. But the market is showing it still has some juice left -- if earnings can meet towering expectations. This earnings season, if you're good, you're just OK. If you're just OK, you're bad. And if you're bad, you're quickly taken outside and put out of your misery. Only the truly great are lauded -- and even then not very much. In an environment like that, and with a heavily extended market, disappointments are taken hard. The S&P 500 just ended its first down week in eight with underwhelming results from the likes of Goldman Sachs and Freeport McMoRan Copper & Gold weighing on indexes. Some big energy companies such as Chevron Corp and ConocoPhillips are reporting results this week. Expectations have been running up in the sector, the third- largest in the S&P 500, providing plenty of room for disappointment. "We have been climbing up a mountain, and we are on a ledge here, so there is definitely a bit of a pause as people are going to need some evidence of accelerated recovery -- not just baseline recovery," said Rick Meckler, president of investment firm LibertyView Capital Management, in New York. Analysts have beefed up expectations as stocks rocketed late last year on signs of an improving economy. S&P 500 earnings estimates for the current quarter were revised up 1 percent over the last 60 days, according to data from StarMine. Positive revisions were heavily concentrated in the technology, energy and materials sectors. Estimates in the materials sector were raised 5.7 percent; in energy, they rose 4.8 percent, and in technology, 2.3 percent, StarMine said. Unsurprisingly, those three sectors, along with financials, took the brunt of selling last week. Materials shares fell the most, losing 3.3 percent over the week. On top of that, big-gaining "mo-mo" momentum stocks like F5 Networks, Salesforce.com, Netflix Inc and Riverbed Technology, are looking shaky after F5 Networks missed revenue estimates and forecast a weak second quarter. Its shares tumbled more than 20 percent. Wall Street will tune in to President Barack Obama's State of the Union address on Tuesday night, when he is expected to make job creation the No. 1 issue. The Federal Reserve's policy-making panel also will meet for the first time this year, convening on Tuesday and concluding on Wednesday afternoon, when the Federal Open Market Committee's statement will get Wall Street's attention. Some economists believe the FOMC may give a slight nod to signs of improvement in the U.S. economy, especially among consumers and factories. The week's economic data includes consumer confidence, durable goods orders, a first look at January consumer sentiment from the Thomson Reuters/University of Michigan surveys, and the first look at fourth-quarter gross domestic product. CALLING A PULLBACK Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco, said declines in leading sectors are a clear sign of profit taking. He is calling what he terms "a healthy pullback" through the historically weak month of February. "We're looking for a 5 percent to 7 percent pullback range, and I think we started it" on Wednesday, he said. A pullback of that magnitude would take the S&P 500 down to around 1,204, based on Tuesday's closing price. That is still within its uptrend channel from the March 2009 lows, which many technical analysts see as strong support for the market. Most investors agree that stocks are overbought by most measures. Although the recent losses have helped cool the S&P 500's short-term relative strength index, a measure that compares opening and closing highs, on a longer-term weekly basis, the benchmark index is still overbought. Nick Kalivas, an analyst at MF Global in Chicago, is more sanguine. He is looking for a pullback that could take the S&P 500 futures to 1,245 or possibly to 1,220, which would be 4 percent to 6 percent below Tuesday's close. "The market is basically working off an overbought condition," he said. "Profit expectations were very high and the market really has not been able to see enough positive news to keep prices at these high levels." According to Richard Ross, global technical strategist at Auerbach Grayson in New York, a very short-term support line can be drawn at 1,280, the area of the S&P 500's 14-day moving average and the lowest close this week. In the medium term, 1,238 would still be a healthy stop for the benchmark, Ross said. That coincides with both the current 50-day moving average and the 23.6 percent retracement of the rise from Sept. 1 to the recent high on Jan. 18. BUT SOME SEE S&P ABOVE 1,300 Ross maintains his bullish approach despite the benchmark S&P 500's first weekly drop in eight. He said the S&P could reach 1,320 by the end of February before encountering any serious technical headwinds. Investors will also have seasonal trends on their minds as February approaches. The month is historically the second weakest for the S&P 500, with the index down 0.2 percent on average for that month since 1950. However, they can take comfort from "the January effect" that holds the market's direction in January points to stocks' direction for the year. The indicator has a 78.3 percent accuracy rate over the last 60 years, according to the Stock Trader's Almanac. With just six trading days left in January, the S&P 500 is up 2.04 percent for the month. (Wall St Week Ahead appears every Sunday. Questions or comments on this column can be e-mailed to: edward.krudy(at)thomsonreuters.com) (Reporting by Edward Krudy; Additional reporting by Rodrigo Campos; Editing by Jan Paschal) 2011-01-23 18:46:07 |
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chris168
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26-Jan-2011 17:35
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krisluke very happy ah. Money inside the pocket liao. Today many happy faces .....
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Bon3260
Supreme |
26-Jan-2011 17:33
Yells: "Ooo Ooo Aaa Aaa!" |
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I saw window dressing @ sm selected Counters by Fund Mgrs. Hangseng muz up 400pts a day dan can consider rally. If not...
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krisluke
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26-Jan-2011 17:13
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ya. U busy left right pocket all $$$ today. tonite, see chart, overbought maybe profit taking tmr. "money inside pocket is better than money in the market" |
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yummygd
Supreme |
26-Jan-2011 17:04
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tom sure profit taking. |
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