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From left, with Forex/Elliot Wave Expert Don Schellenberg, NextVIEW's Paul Yeo and Stephen Lai, "CNBC Chart Man" Daryl Guppy at Bursa Malaysia 2005 -
From left, Forex experts Dar Wong and Don Schellenberg at Singapore Asia Trader and Investor Convention, ATIC 2009 -
From top left, with Trading coach Stuart McPhee and Professional licensed futures trader Brent Penfold at Singapore Asia Trader and Investor Convention, ATIC 2007. -
With Trading Coach and Author of best-selling trading book, Trading for a Living, Dr. Alexander in 2008. -
Interviewed in a business TV Channel in Pakistan while conducting a course and invited to speak at the Karachi Stock Exchange.
Showing posts with label News Alert. Show all posts
Showing posts with label News Alert. Show all posts
Saturday, October 17, 2009
Thursday, October 8, 2009
The demise of the dollar
By Robert Fisk, The Independent
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
The Americans, who are aware the meetings have taken place – although they have not discovered the details – are sure to fight this international cabal which will include hitherto loyal allies Japan and the Gulf Arabs. Against the background to these currency meetings, Sun Bigan, China's former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. "Bilateral quarrels and clashes are unavoidable," he told the Asia and Africa Review. "We cannot lower vigilance against hostility in the Middle East over energy interests and security."
This sounds like a dangerous prediction of a future economic war between the US and China over Middle East oil – yet again turning the region's conflicts into a battle for great power supremacy. China uses more oil incrementally than the US because its growth is less energy efficient. The transitional currency in the move away from dollars, according to Chinese banking sources, may well be gold. An indication of the huge amounts involved can be gained from the wealth of Abu Dhabi, Saudi Arabia, Kuwait and Qatar who together hold an estimated $2.1 trillion in dollar reserves.
The decline of American economic power linked to the current global recession was implicitly acknowledged by the World Bank president Robert Zoellick. "One of the legacies of this crisis may be a recognition of changed economic power relations," he said in Istanbul ahead of meetings this week of the IMF and World Bank. But it is China's extraordinary new financial power – along with past anger among oil-producing and oil-consuming nations at America's power to interfere in the international financial system – which has prompted the latest discussions involving the Gulf states.
Brazil has shown interest in collaborating in non-dollar oil payments, along with India. Indeed, China appears to be the most enthusiastic of all the financial powers involved, not least because of its enormous trade with the Middle East.
China imports 60 per cent of its oil, much of it from the Middle East and Russia. The Chinese have oil production concessions in Iraq – blocked by the US until this year – and since 2008 have held an $8bn agreement with Iran to develop refining capacity and gas resources. China has oil deals in Sudan (where it has substituted for US interests) and has been negotiating for oil concessions with Libya, where all such contracts are joint ventures.
Furthermore, Chinese exports to the region now account for no fewer than 10 per cent of the imports of every country in the Middle East, including a huge range of products from cars to weapon systems, food, clothes, even dolls. In a clear sign of China's growing financial muscle, the president of the European Central Bank, Jean-Claude Trichet, yesterday pleaded with Beijing to let the yuan appreciate against a sliding dollar and, by extension, loosen China's reliance on US monetary policy, to help rebalance the world economy and ease upward pressure on the euro.
Ever since the Bretton Woods agreements – the accords after the Second World War which bequeathed the architecture for the modern international financial system – America's trading partners have been left to cope with the impact of Washington's control and, in more recent years, the hegemony of the dollar as the dominant global reserve currency.
The Chinese believe, for example, that the Americans persuaded Britain to stay out of the euro in order to prevent an earlier move away from the dollar. But Chinese banking sources say their discussions have gone too far to be blocked now. "The Russians will eventually bring in the rouble to the basket of currencies," a prominent Hong Kong broker told The Independent. "The Brits are stuck in the middle and will come into the euro. They have no choice because they won't be able to use the US dollar."
Chinese financial sources believe President Barack Obama is too busy fixing the US economy to concentrate on the extraordinary implications of the transition from the dollar in nine years' time. The current deadline for the currency transition is 2018.
The US discussed the trend briefly at the G20 summit in Pittsburgh; the Chinese Central Bank governor and other officials have been worrying aloud about the dollar for years. Their problem is that much of their national wealth is tied up in dollar assets.
"These plans will change the face of international financial transactions," one Chinese banker said. "America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate."
Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.
By Robert Fisk, The Independent
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
The Americans, who are aware the meetings have taken place – although they have not discovered the details – are sure to fight this international cabal which will include hitherto loyal allies Japan and the Gulf Arabs. Against the background to these currency meetings, Sun Bigan, China's former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. "Bilateral quarrels and clashes are unavoidable," he told the Asia and Africa Review. "We cannot lower vigilance against hostility in the Middle East over energy interests and security."
This sounds like a dangerous prediction of a future economic war between the US and China over Middle East oil – yet again turning the region's conflicts into a battle for great power supremacy. China uses more oil incrementally than the US because its growth is less energy efficient. The transitional currency in the move away from dollars, according to Chinese banking sources, may well be gold. An indication of the huge amounts involved can be gained from the wealth of Abu Dhabi, Saudi Arabia, Kuwait and Qatar who together hold an estimated $2.1 trillion in dollar reserves.
The decline of American economic power linked to the current global recession was implicitly acknowledged by the World Bank president Robert Zoellick. "One of the legacies of this crisis may be a recognition of changed economic power relations," he said in Istanbul ahead of meetings this week of the IMF and World Bank. But it is China's extraordinary new financial power – along with past anger among oil-producing and oil-consuming nations at America's power to interfere in the international financial system – which has prompted the latest discussions involving the Gulf states.
Brazil has shown interest in collaborating in non-dollar oil payments, along with India. Indeed, China appears to be the most enthusiastic of all the financial powers involved, not least because of its enormous trade with the Middle East.
China imports 60 per cent of its oil, much of it from the Middle East and Russia. The Chinese have oil production concessions in Iraq – blocked by the US until this year – and since 2008 have held an $8bn agreement with Iran to develop refining capacity and gas resources. China has oil deals in Sudan (where it has substituted for US interests) and has been negotiating for oil concessions with Libya, where all such contracts are joint ventures.
Furthermore, Chinese exports to the region now account for no fewer than 10 per cent of the imports of every country in the Middle East, including a huge range of products from cars to weapon systems, food, clothes, even dolls. In a clear sign of China's growing financial muscle, the president of the European Central Bank, Jean-Claude Trichet, yesterday pleaded with Beijing to let the yuan appreciate against a sliding dollar and, by extension, loosen China's reliance on US monetary policy, to help rebalance the world economy and ease upward pressure on the euro.
Ever since the Bretton Woods agreements – the accords after the Second World War which bequeathed the architecture for the modern international financial system – America's trading partners have been left to cope with the impact of Washington's control and, in more recent years, the hegemony of the dollar as the dominant global reserve currency.
The Chinese believe, for example, that the Americans persuaded Britain to stay out of the euro in order to prevent an earlier move away from the dollar. But Chinese banking sources say their discussions have gone too far to be blocked now. "The Russians will eventually bring in the rouble to the basket of currencies," a prominent Hong Kong broker told The Independent. "The Brits are stuck in the middle and will come into the euro. They have no choice because they won't be able to use the US dollar."
Chinese financial sources believe President Barack Obama is too busy fixing the US economy to concentrate on the extraordinary implications of the transition from the dollar in nine years' time. The current deadline for the currency transition is 2018.
The US discussed the trend briefly at the G20 summit in Pittsburgh; the Chinese Central Bank governor and other officials have been worrying aloud about the dollar for years. Their problem is that much of their national wealth is tied up in dollar assets.
"These plans will change the face of international financial transactions," one Chinese banker said. "America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate."
Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.
Saturday, September 19, 2009
Tuesday, September 8, 2009
Preparing for the Worst
by Robert Kiyosaki
"Is the crisis over?" is a question I am often asked. "Is the economy coming back?"
My reply is, "I don't think so. I would prepare for the worst."
Like most people, I wish for a better future for all of us. Life is better when people are working, happy, and spending money.
The stock market has been going up since March 9, 2009. Talk of "green shoots" fill the air. Yet, in spite of the more positive news, I continue to recommend that people prepare for the worst. The following are some of my reasons:
1. I believe the stock market is being manipulated. I suspect the government, banks, and Wall Street are doing everything they can to keep the market from crashing. Our leaders know that nothing makes the world feel better than a raging bull market.
Do I have any proof that the market is being manipulated? No. I just smell a rat, or a pack of rats. I believe greed, self-interest, arrogance, and fear control the financial markets. I suspect those in charge will do anything to keep us all from panicking... and I don't blame them. A global panic would be ugly and dangerous.
2. In my view, this global crisis has been caused by the Federal Reserve Bank, the U.S. Treasury, Wall Street, and the central banks of the world. They caused the problem, profited excessively in doing so, and now profit by being asked to fix the problem.
Every time I hear a politician mention the word stimulus, my mind flashes back to high school biology class, when I touched battery wires to a dead frog to make it twitch. Today, you and I are the dead frogs. Pretty soon the dead frog will be fried frog.
In the 1980s, our government's hot money stimulus was measured only in the millions of dollars. By the 1990s, the government had to ramp the stimulus voltage into the billions in order to get the frog to twitch. Today the frog has jumper cables with trillions in high-voltage hot money pouring through the lines.
While most us feel better when we have more high-voltage money in our hands, none of us feel good about higher taxes, increasing national debt, and rising inflation for the long term. Another old saying goes, "Sometimes the cure is worse than the disease." I say the government stimulus cure is killing us frogs.
3. Old frogs don't hop. Another reason I am cautious about the future is that the Western world has a growing number of old frogs. Between 1970 and 2000, the economy responded to bailouts and stimulus packages because the baby boomers of the world were entering their greatest earning years -- their purchasing power increased, and demand for homes, cars, refrigerators, computers, and TVs boosted the economy.
The stimulus plans seemed to work. But when a person turns 60, their spending habits change dramatically. They stop consuming and start conserving like a bear preparing for winter. The economy of the Western world is heading into winter. Hot wires and hot money will not get old frogs to hop. Old frogs will simply join the bears and stick that money in the bank as they prepare for the long, hard winter known as old age. The businesses that will do well in a winter economy are drug companies, hospitals, wheelchair manufacturers, and mortuaries.
4. The dying frog economy will lead us to the biggest Ponzi schemes of all: Social Security and Medicare. If we think this subprime financial crisis is big, it's my opinion that this crisis will be dwarfed by the crisis brewing in Social Security and Medicare...Medicare being the biggest crisis of all. As old frogs head for the big lily pad in the sky, they will demand young frogs spend even more in tax dollars just to keep old frogs from croaking.
5. The 401(k)Ponzi scheme. A Ponzi scheme, like the scheme Madoff ran, depends upon young money to pay off old money. In other words, a Ponzi scheme needs tadpoles to finance old frogs. The same is true for the 401(k) and other retirement plans to work. If young money does not come into the stock market, the old money cannot retire. One reason so many people my age are worried, not only about Social Security and Medicare, is because they're concerned about getting their money out of the stock market before the other old frogs decide to drain the swamp.
The facts are that the 401(k) plan has a trigger that requires old frogs to begin withdrawing their money at a certain age. In other words, as baby boomers grow older, more and more will be required, by law, to begin withdrawing their money from the market. You do not have to be a rocket scientist to know that it is hard for a market to keep going up when more and more people are getting out.
The reason the 401(k) has this law related to mandatory withdrawals is because the Federal government wants to collect the taxes that they deferred when the worker's money went into the plan. In other words, the taxman wants their pound of flesh. Since they allowed the worker to invest without paying taxes, the government wants their tax dollars when the employee retires. That is why the laws require older workers to sell their shares ¬-- and pay their pound of flesh.
Demographics show that we are entering a battle between young and old. I call it the "Age War." The young want to hang onto their money to grow their families, businesses, and wealth. The old want the tax and investment dollars of the young to sustain their old age.
This war is not coming...it is upon us now. This is one of many reasons why I remain cautious and say, "The worst is yet to come."
by Robert Kiyosaki
"Is the crisis over?" is a question I am often asked. "Is the economy coming back?"
My reply is, "I don't think so. I would prepare for the worst."
Like most people, I wish for a better future for all of us. Life is better when people are working, happy, and spending money.
The stock market has been going up since March 9, 2009. Talk of "green shoots" fill the air. Yet, in spite of the more positive news, I continue to recommend that people prepare for the worst. The following are some of my reasons:
1. I believe the stock market is being manipulated. I suspect the government, banks, and Wall Street are doing everything they can to keep the market from crashing. Our leaders know that nothing makes the world feel better than a raging bull market.
Do I have any proof that the market is being manipulated? No. I just smell a rat, or a pack of rats. I believe greed, self-interest, arrogance, and fear control the financial markets. I suspect those in charge will do anything to keep us all from panicking... and I don't blame them. A global panic would be ugly and dangerous.
2. In my view, this global crisis has been caused by the Federal Reserve Bank, the U.S. Treasury, Wall Street, and the central banks of the world. They caused the problem, profited excessively in doing so, and now profit by being asked to fix the problem.
Every time I hear a politician mention the word stimulus, my mind flashes back to high school biology class, when I touched battery wires to a dead frog to make it twitch. Today, you and I are the dead frogs. Pretty soon the dead frog will be fried frog.
In the 1980s, our government's hot money stimulus was measured only in the millions of dollars. By the 1990s, the government had to ramp the stimulus voltage into the billions in order to get the frog to twitch. Today the frog has jumper cables with trillions in high-voltage hot money pouring through the lines.
While most us feel better when we have more high-voltage money in our hands, none of us feel good about higher taxes, increasing national debt, and rising inflation for the long term. Another old saying goes, "Sometimes the cure is worse than the disease." I say the government stimulus cure is killing us frogs.
3. Old frogs don't hop. Another reason I am cautious about the future is that the Western world has a growing number of old frogs. Between 1970 and 2000, the economy responded to bailouts and stimulus packages because the baby boomers of the world were entering their greatest earning years -- their purchasing power increased, and demand for homes, cars, refrigerators, computers, and TVs boosted the economy.
The stimulus plans seemed to work. But when a person turns 60, their spending habits change dramatically. They stop consuming and start conserving like a bear preparing for winter. The economy of the Western world is heading into winter. Hot wires and hot money will not get old frogs to hop. Old frogs will simply join the bears and stick that money in the bank as they prepare for the long, hard winter known as old age. The businesses that will do well in a winter economy are drug companies, hospitals, wheelchair manufacturers, and mortuaries.
4. The dying frog economy will lead us to the biggest Ponzi schemes of all: Social Security and Medicare. If we think this subprime financial crisis is big, it's my opinion that this crisis will be dwarfed by the crisis brewing in Social Security and Medicare...Medicare being the biggest crisis of all. As old frogs head for the big lily pad in the sky, they will demand young frogs spend even more in tax dollars just to keep old frogs from croaking.
5. The 401(k)Ponzi scheme. A Ponzi scheme, like the scheme Madoff ran, depends upon young money to pay off old money. In other words, a Ponzi scheme needs tadpoles to finance old frogs. The same is true for the 401(k) and other retirement plans to work. If young money does not come into the stock market, the old money cannot retire. One reason so many people my age are worried, not only about Social Security and Medicare, is because they're concerned about getting their money out of the stock market before the other old frogs decide to drain the swamp.
The facts are that the 401(k) plan has a trigger that requires old frogs to begin withdrawing their money at a certain age. In other words, as baby boomers grow older, more and more will be required, by law, to begin withdrawing their money from the market. You do not have to be a rocket scientist to know that it is hard for a market to keep going up when more and more people are getting out.
The reason the 401(k) has this law related to mandatory withdrawals is because the Federal government wants to collect the taxes that they deferred when the worker's money went into the plan. In other words, the taxman wants their pound of flesh. Since they allowed the worker to invest without paying taxes, the government wants their tax dollars when the employee retires. That is why the laws require older workers to sell their shares ¬-- and pay their pound of flesh.
Demographics show that we are entering a battle between young and old. I call it the "Age War." The young want to hang onto their money to grow their families, businesses, and wealth. The old want the tax and investment dollars of the young to sustain their old age.
This war is not coming...it is upon us now. This is one of many reasons why I remain cautious and say, "The worst is yet to come."
Wednesday, June 10, 2009
The international reserves of Bank Negara Malaysia amounted to RM322.5 billion as at 29 May 2009, up RM2.1 billion or 0.66% from RM320.4 billion as at 30 April 2009. In US dollar terms, the international reserves of the central bank amounted to USD88.3 billion end May, an increase of USD0.5 billion or 0.57% from USD87.8 billion a month earlier. According to Bank Negara Malaysia, the reserves position as at end May is sufficient to finance 8.3 months of retained imports and is 3.8 times the short-term external debt.
Malaysia's long-term currency rating has been downgraded from "A+" to "A" by International ratings agency, Fitch. Fitch cited the country's growing budget deficit as the main concern. In a statement Tuesday, Fitch mentioned that they are expecting the budget deficit to rise 7.7% of the country’s gross domestic product this year. The budget deficit peaked last year when the government announced a RM67 billion economic stimulus package to deal with the global economic slowdown. They also added that Malaysia’s primary deficit of 6.4% of GDP would be among the worst, after only Latvia, Bahrain, Ireland and Vietnam.
Despite bearish news, the Kuala Lumpur Composite index climbed 3.97 points higher at 1075.76 points.
For more Malaysian, Singapore and US news update, please visit www.nextview.com
****
N.I.N.E.
Malaysia's long-term currency rating has been downgraded from "A+" to "A" by International ratings agency, Fitch. Fitch cited the country's growing budget deficit as the main concern. In a statement Tuesday, Fitch mentioned that they are expecting the budget deficit to rise 7.7% of the country’s gross domestic product this year. The budget deficit peaked last year when the government announced a RM67 billion economic stimulus package to deal with the global economic slowdown. They also added that Malaysia’s primary deficit of 6.4% of GDP would be among the worst, after only Latvia, Bahrain, Ireland and Vietnam.
Despite bearish news, the Kuala Lumpur Composite index climbed 3.97 points higher at 1075.76 points.
For more Malaysian, Singapore and US news update, please visit www.nextview.com
****
N.I.N.E.
Wednesday, May 13, 2009
Share prices on Malaysia stock exchange closed marginally lower Tuesday as buying activities in the afternoon session limit the earlier losses.
The benchmark KLCI eased 2.48 points or 0.24% to 1,023.02 points. It opened 5.32 points lower at 1,020.18 points, and traded between 1,013.36 and 1,023.73 points during the day.
Share prices on the Singapore stock exchange closed marginally higher on lower volume Tuesday following buying activities in the afternoon session that pulled the market out of the red.
The benchmark FT Straits Times Index added 12.03 points or 0.56% to 2,178.13 points. It opened 1.67 points lower at 2,164.43 points and traded between 2,135.37 and 2,191.51 points during the day.
More...
In the United States (Excerpts from Yahoo.com) :
Stocks ended mixed but well off their lows Tuesday as early concerns about a barrage of stock offerings eased and rising oil prices lifted energy stocks. The Dow Jones industrials rose 50 points, while broader indicators fell.
The benchmark KLCI eased 2.48 points or 0.24% to 1,023.02 points. It opened 5.32 points lower at 1,020.18 points, and traded between 1,013.36 and 1,023.73 points during the day.
Share prices on the Singapore stock exchange closed marginally higher on lower volume Tuesday following buying activities in the afternoon session that pulled the market out of the red.
The benchmark FT Straits Times Index added 12.03 points or 0.56% to 2,178.13 points. It opened 1.67 points lower at 2,164.43 points and traded between 2,135.37 and 2,191.51 points during the day.
More...
In the United States (Excerpts from Yahoo.com) :
Stocks ended mixed but well off their lows Tuesday as early concerns about a barrage of stock offerings eased and rising oil prices lifted energy stocks. The Dow Jones industrials rose 50 points, while broader indicators fell.
Investors also pulled money from technology stocks after the Nasdaq composite index closed at a six-month high last week. The slide Monday and mixed finish Tuesday makes it difficult to tell whether Wall Street might be able to restart its stalled two-month rally.
The Dow rose 50.34, or 0.6 percent, to 8,469.11 after falling 155 on Monday. The S&P 500 index slipped 0.89, or 0.1 percent, to 908.35 and the Nasdaq fell 15.32, or 0.9 percent, to 1,715.92.
****
N.I.N.E.
Thursday, May 7, 2009
Share prices on Malaysia stock exchange closed at its 7½-month high Wednesday, thanks to the positive performance of the regional bourses, despite a weak opening in the morning session.
Share prices on the Singapore stock exchange continued with its strong rally Wednesday, with its benchmark index gaining more than 5% and continued as one of Asia’s best performing equity markets for the day.
Wall Street closed higher Wednesday led by finance stocks, as the report on stress test due Thursday suggested major banks are better capitalized than earlier thought coupled with better than expected job loss figure.
Click here for more...
Share prices on the Singapore stock exchange continued with its strong rally Wednesday, with its benchmark index gaining more than 5% and continued as one of Asia’s best performing equity markets for the day.
Wall Street closed higher Wednesday led by finance stocks, as the report on stress test due Thursday suggested major banks are better capitalized than earlier thought coupled with better than expected job loss figure.
Click here for more...
Wednesday, May 6, 2009
Wall Street closed marginally lower Tuesday in a relatively tight trading market as traders took profit from the recent run-up and the wait and see stance by investors pending the bank stress test report due Thursday. The Dow Jones Industrial Average eased 16.09 points or 0.19% to 8410.65 point.Click here for more
Share prices on Malaysia stock exchange closed marginally lower Tuesday despite a strong opening in the morning session, but its benchmark index managed to close above the 1000 level. Click here for more
Share prices on the Singapore stock exchange continued with its upward trend Tuesday, gaining for the fourth straight day and maintained as one of Asia’s best performing equity markets for the day. Click here for more
Share prices on Malaysia stock exchange closed marginally lower Tuesday despite a strong opening in the morning session, but its benchmark index managed to close above the 1000 level. Click here for more
Share prices on the Singapore stock exchange continued with its upward trend Tuesday, gaining for the fourth straight day and maintained as one of Asia’s best performing equity markets for the day. Click here for more
Monday, May 4, 2009
It was a crazily bullish day in the Asian markets. Investors are so confident and their risk-appetite increased from the better-than-expected corporate earnings smaller contraction in the economic growth. The global manufacturing cycle seems to be increasing in momentum. Investors have set aside worries about the swine flu (H1N1) outbreak which could turn into a global pandemic.
Taiwan benchmark index soared 5.6 percent, after increasing more than 6 percent last Friday. China's PMI data seems to show recovery for the economy. Investors see mega deals that would spur Chinese investments in Taiwan.
Other big gainers in the region include Hong Kong and Singapore. Hong Kong Hang Seng Index surged 860 points or 5.54 percent to close 16,381 points, breaking above the 16,000 points technical resistance level. Singapore FTSE Straits Times Index rose 108.43 points or 5.56 percent to close above the 2,000 points psychological resistance level at 2,028.71 points.
China's Shanghai Composite closed 3.32 percent higher at 2,559.51 points. Despite the political uncertainty, Thailand's SET Index closed 2.96 percent higher at 506.26 points. Kuala Lumpur Composite Index went up 1.88 percent to close at 1009.38 points while Japan's Nikkei up 1.7 percent at 8.977.37 points on the first of May. Japan is on holiday for three days starting today.
Commodities prices up as well
U.S. crude oil went up 25 cents to $53.45 a barrel and gold price was up $8 an ounce at $893.80.
The US Dow Jones Industrial Average is expected to extend its rally after increasing 44.29 points on Friday. The Dow is currently at 8,212.41 points and is expected increase 2 percent today. NextVIEW's Chief Market Strategist Benny Lee added that the US may extend the gains this week before move into a correction.
****
N.I.N.E.
Taiwan benchmark index soared 5.6 percent, after increasing more than 6 percent last Friday. China's PMI data seems to show recovery for the economy. Investors see mega deals that would spur Chinese investments in Taiwan.
Other big gainers in the region include Hong Kong and Singapore. Hong Kong Hang Seng Index surged 860 points or 5.54 percent to close 16,381 points, breaking above the 16,000 points technical resistance level. Singapore FTSE Straits Times Index rose 108.43 points or 5.56 percent to close above the 2,000 points psychological resistance level at 2,028.71 points.
China's Shanghai Composite closed 3.32 percent higher at 2,559.51 points. Despite the political uncertainty, Thailand's SET Index closed 2.96 percent higher at 506.26 points. Kuala Lumpur Composite Index went up 1.88 percent to close at 1009.38 points while Japan's Nikkei up 1.7 percent at 8.977.37 points on the first of May. Japan is on holiday for three days starting today.
Commodities prices up as well
U.S. crude oil went up 25 cents to $53.45 a barrel and gold price was up $8 an ounce at $893.80.
The US Dow Jones Industrial Average is expected to extend its rally after increasing 44.29 points on Friday. The Dow is currently at 8,212.41 points and is expected increase 2 percent today. NextVIEW's Chief Market Strategist Benny Lee added that the US may extend the gains this week before move into a correction.
****
N.I.N.E.
Tuesday, April 28, 2009
No, this time it is not the bird flu or the flu markets get when US sneezes. The pigs who are normally slaughtered in the markets controlled by bulls and bears are having their revenge. The swine flu's death count in Mexico grew to about 150 people from 100. The stocks of airlines, hotels and other tour related companies suffered losses in the US. Starwood Hotels and Resorts Worldwide Inc fell 11 percent, cruise operator Carnival Corp. fell 13.5 percent and Delta Air Lines Inc. dived 14.3 percent. However, pharmaceutical companies see marginal increase. GlaxoSmithKline gained 7.6 percent.
The Dow fell 51.29 points , or 0.6 percent, to 8,025.00. Before the US market opened, stocks in the rest of the markets were also lower.
The Dow fell 51.29 points , or 0.6 percent, to 8,025.00. Before the US market opened, stocks in the rest of the markets were also lower.
Wednesday, April 15, 2009
Make your way to Suntec Singapore Hall 401 this Saturday and Sunday (18th and 19th April) or visit www.theatic.net
Wednesday, March 4, 2009
World's greatest investor and one of the richest men in the world Warren Buffet said that he did some dumb things in 2008 investment that saw his share price lose almost half its value in one and a half years. In his annual letter to Berkshire Hathaway shareholders, Warren Buffett says he did some "dumb things in investments". Buffett also predicts the economy will "be in shambles throughout 2009.
Those who have invested in his company after 2004 and hold till today incue loss in capital. Those who invest in early 2008 loses up to half of their capital!
From CNBC:
The mistake of commission: buying a large amount of ConocoPhillips stock just as energy prices were near their peak. Buffett writes, "I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year." He still thinks oil will eventually go well above its current $40-$50 range, "but so far I have been dead wrong." Even if energy prices do rise, "The terrible timing* of my purchase has cost Berkshire several billion dollars."
Buffett also reveals that he spent $244 million for shares of two Irish banks that "appeared cheap" to him. At the end of the year, they were written down to their market price of $27 million, for a loss of 89 percent, and they've continued to drop.
The letter also reveals a 9.6 percent decline in Berkshire's book value per-share last year, making 2008 the company's worst year since Buffett took over in 1965. Book value fell by $11.5 billion during the year. There has been only one annual decline before this one. In 2001, book value fell 6.2 percent. "By yearend, investors of all stripes were bloodied and confused, much as if they were small birds that had strayed into a badminton game."
Read more here from CNBC
They are not spared from laying-off staffs too.
Berkshire reduced staffing last year in half of its nearly 80 operating units, and said more job cuts were coming in an economy unlikely to recover before 2010.
* Maybe he should consider technical analysis?.....
****
N.I.N.E.
Those who have invested in his company after 2004 and hold till today incue loss in capital. Those who invest in early 2008 loses up to half of their capital!
From CNBC:
The mistake of commission: buying a large amount of ConocoPhillips stock just as energy prices were near their peak. Buffett writes, "I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year." He still thinks oil will eventually go well above its current $40-$50 range, "but so far I have been dead wrong." Even if energy prices do rise, "The terrible timing* of my purchase has cost Berkshire several billion dollars."
Buffett also reveals that he spent $244 million for shares of two Irish banks that "appeared cheap" to him. At the end of the year, they were written down to their market price of $27 million, for a loss of 89 percent, and they've continued to drop.
The letter also reveals a 9.6 percent decline in Berkshire's book value per-share last year, making 2008 the company's worst year since Buffett took over in 1965. Book value fell by $11.5 billion during the year. There has been only one annual decline before this one. In 2001, book value fell 6.2 percent. "By yearend, investors of all stripes were bloodied and confused, much as if they were small birds that had strayed into a badminton game."
Read more here from CNBC
They are not spared from laying-off staffs too.
Berkshire reduced staffing last year in half of its nearly 80 operating units, and said more job cuts were coming in an economy unlikely to recover before 2010.
* Maybe he should consider technical analysis?.....
****
N.I.N.E.
Tuesday, March 3, 2009
Singing in the tune of "London Bridge is Falling Down"
U.S. Dow Jones Falling Down, Falling Down, Falling Down,
U.S. Dow Jones Falling Down, everyone is worry,
Build it up with stee moo lus, stee moo lus, stee moo lus,
Build it up with stee moo lus, Obama says "hurry",
Stee moo lus will crash and burn, crash and burn, crash and burn,
Stee moo lus will crash and burn, there goes my money,
U.S. Dow Jones Falling Down, Falling Down, Falling Down,
U.S. Dow Jones Falling Down, so does economy.
US Dow Jones Industrial average plunged almost 300 points or 4.24% to close at 6,763.29 points, lead by steep falls in banking shares. AIG posted a record US$61.7 loss and the goverment is likely going to pump in more money, which raised concerns about the extent of damage to the financial system.
Dow to fall to 6,000? read article here from Benny Lee on the 24th of February and here from Daryl Guppy on the 26th of February.
****
N.I.N.E.
U.S. Dow Jones Falling Down, Falling Down, Falling Down,
U.S. Dow Jones Falling Down, everyone is worry,
Build it up with stee moo lus, stee moo lus, stee moo lus,
Build it up with stee moo lus, Obama says "hurry",
Stee moo lus will crash and burn, crash and burn, crash and burn,
Stee moo lus will crash and burn, there goes my money,
U.S. Dow Jones Falling Down, Falling Down, Falling Down,
U.S. Dow Jones Falling Down, so does economy.
US Dow Jones Industrial average plunged almost 300 points or 4.24% to close at 6,763.29 points, lead by steep falls in banking shares. AIG posted a record US$61.7 loss and the goverment is likely going to pump in more money, which raised concerns about the extent of damage to the financial system.
Dow to fall to 6,000? read article here from Benny Lee on the 24th of February and here from Daryl Guppy on the 26th of February.
****
N.I.N.E.
Tuesday, February 24, 2009
The US market sentiment continue to deteriorate as investors have no confidence on the new US$787 billion package which are set to bailout out companies that are facing financial difficulties. The Dow Jones industrial average (DJI) tumbled 251 points or 3.4% to its lowest close since May 7, 1997, bring stock market back to 12 years ago. It broke the major support level at 7,400 points. With this breakout on the major support level, more bearish pressure is expected in the US.
Excerpt from Yahoo:
"Investors pounded most financial stocks even as government agencies led by the Treasury Department said they would launch a revamped bank rescue program this week. The plan includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.
****
N.I.N.E.
Excerpt from Yahoo:
"Investors pounded most financial stocks even as government agencies led by the Treasury Department said they would launch a revamped bank rescue program this week. The plan includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.
Although the government has said it doesn't want to nationalize banks, many investors are clearly still concerned that this could be a possibility as banks continue to suffer severe losses because of the recession. They're also worried that banks' losses will keep escalating as the recession sends more borrowers into default."
Daily DJI chart as at 23 February 2009 using NextVIEW Advisor. Click on chart for larger view.
The DJI is expected to find the next support level at between 5,600 and 6,000 points as forecasted by market experts Benny Lee and Daryl Guppy in N.I.N.E. Markets in the Asian region are expected to be bearish today with the poor performance in the US.****
N.I.N.E.
Tuesday, February 10, 2009
We begin this New Year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organisations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health. Every new year, I adopt a couple of old maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older. This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.* Hard work: All hard work brings a profit, but mere talk leads only to poverty.
* Laziness: A sleeping lobster is carried away by the water current.
* Earnings: Never depend on a single source of income. [At least make your Investments get you second earning]
* Spending: If you buy things you don't need, you'll soon sell things you need.
* Savings: Don't save what is left after spending; spend what is left after saving.
* Borrowings: The borrower becomes the lender's slave.
* Accounting: It's no use carrying an umbrella, if your shoes are leaking.
* Auditing: Beware of little expenses; A small leak can sink a large ship.
* Risk-taking: Never test the depth of the river with both feet. [Have an alternate plan ready]
* Investment: Don't put all your eggs in one basket.
I'm certain that those who have already been practicing these principles remain financially healthy. I'm equally confident that those who resolve to start practicing these principles will quickly regain their financial health.
Let us become wiser and lead a happy, healthy, prosperous and peaceful life.
Thursday, February 5, 2009
The are many opinions about the current global economic crisis. Some say economy may recover in 2009, stock market may bottom out, some say it's going to get worst in second half of 2009. Some say the slow down may last up to 2 more years. Some say there is going to be anarchy and some even said it may lead to World War III. What do you think? Can we get out of this economic and financial mess this year?
See the video for some of the people's opinions on the Davos Debates...
Kofi Annan
Bollywood Actor Amitabh Bachchan
Harvard's Peter Galison
Zurich's Financial CEO James Schiro
Bob Forbes of Forbes FY!
Arianna Huffington of huffingtonpost.com
Buddhist monk Matthieu Ricard
Chairman of Intel Craig Barrett
More HERE from Youtube
****
N.I.N.E.
See the video for some of the people's opinions on the Davos Debates...
Kofi Annan
Bollywood Actor Amitabh Bachchan
Harvard's Peter Galison
Zurich's Financial CEO James Schiro
Bob Forbes of Forbes FY!
Arianna Huffington of huffingtonpost.com
Buddhist monk Matthieu Ricard
Chairman of Intel Craig Barrett
More HERE from Youtube
****
N.I.N.E.
Thursday, January 29, 2009
Markets in Asia moved generally higher today. Some markets have been closed especially on Monday because of the Chinese New Year. The Chinese are ushering into the year of the OX or bull. The bull is a hardworking animal in the Chinese astrology. Therefore, it does not symbolize a "bull" in the financial markets. Rather, it prompts believers to work harder. This may be true as economies are slowing down and those who do not work hard may get axed.Korea, Singapore and Malaysia indices, which were closed for two days ended on a bullish note today with 64.58 points (5.91%), 80.85 points (4.80%) and 6.94 points (0.8%) gain respectively. Japan's Nikkei and Thailand SET index which were opened since Monday has gained 361 points (4.6%) and 14.8 points (3.4%) from last Friday. Hong Kong, China and Taiwan stock exchanges are still closed. Australia's All Ordinaries which closed on Monday, up 135 points or 4.1% since last Friday.
European markets end higher as finance stocks surge. London's FTSE closed 100.8 points (2.4%). France's CAC40 index closed 122 points higher (4.1%). U.S. stocks rose on Wednesday, capping the S&P 500's longest winning streak since November, as financial stocks soared on optimism the Obama administration was making progress on a plan to relieve banks of money-losing assets (Reuters). The US DOW was bullish with 200 points higher or 2.5%.
Are investors really gaining confidence on the rescue plans set up by their goverments? Or is it just a technical rebound or a would be dead cat bounce? Market Strategist Mr. Benny Lee thinks that the rebound was due because of its oversold nature and should advance about 10% from the recent lows in the respective countries indices. However Mr. added that "the rebound may just be temporary as the down trend pressure is still strong and market is expected to be in a volatile mode balanced by investors confidence on the government financial stimulus and the deepening global recession".
****
N.I.N.E.
Monday, January 19, 2009
The US Dow Jones Industrial Average closed 68.73 points higher on Friday at 8,281.22 points after a rebound on Thursday. Prior to that, the market experienced 6 days of falling prices. Before the US market opens, the rest of the markets have also rebounded from a series of down days.
Japan's Nikkei closed 206.81 (2.6%) higher at 8,230.15 points, Hong Kong's Hang Seng Index inches up 12.55 points at 13,255.51, Singapore's Straits Times Index closed 1.5% higher at 1,730.45 points, Australia's All ordinaries closed at 3,494.90, 18.1 points higher. London's FTSE closed 0.63% higher at 4,147.06 points. France's CAC40 index climbed 0.70% higher at 3,016.75 points. Kuala Lumpur's Composite Index however fell 1 point to close at 896.47.
US Wall street is looking forward this week to big fourth quarter earnings from corporates like Google, United Airways, General electric, Microsoft, Johnson&Johnson and hundreds of others. However, the week is shortened with markets closed today for Martin Luther King Jr. Day. On Tuesday attention will be focused to Washington with the inauguration of President-elect Barack Obama.
****
N.I.N.E.
Japan's Nikkei closed 206.81 (2.6%) higher at 8,230.15 points, Hong Kong's Hang Seng Index inches up 12.55 points at 13,255.51, Singapore's Straits Times Index closed 1.5% higher at 1,730.45 points, Australia's All ordinaries closed at 3,494.90, 18.1 points higher. London's FTSE closed 0.63% higher at 4,147.06 points. France's CAC40 index climbed 0.70% higher at 3,016.75 points. Kuala Lumpur's Composite Index however fell 1 point to close at 896.47.
US Wall street is looking forward this week to big fourth quarter earnings from corporates like Google, United Airways, General electric, Microsoft, Johnson&Johnson and hundreds of others. However, the week is shortened with markets closed today for Martin Luther King Jr. Day. On Tuesday attention will be focused to Washington with the inauguration of President-elect Barack Obama.
****
N.I.N.E.
Monday, December 22, 2008
Tuesday, December 16, 2008
Markets continue to weaken after reounding from their lows. Investors are still worried about the future outlook for the equity markets and also the prices of commodities because of slowing economies worlwide. Below are the prices of stock market indices and major commodities. Click here to compare the prices about one and a half month ago.
World Indices Quotes snapshot from NextVIEW Advisor
Commodities Price Quotes snapshot from NextVIEW Advisor
****
N.I.N.E.
World Indices Quotes snapshot from NextVIEW Advisor
Commodities Price Quotes snapshot from NextVIEW Advisor
****
N.I.N.E.
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