| Latest Forum Topics / Straits Times Index |
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STI to cross 3000 boosted by long-term investors
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WanSiTong
Supreme |
17-Mar-2016 15:02
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Asia Cheers as Yellen Succumbs to Cry-Bullies A reluctant Fed extends the risk-on rally for Asian assets: it' s not so great for fundamental investors. Well, here' s another nice mess you' ve gotten us into, Janet. US Fed Chair Janet Yellen left rates unchanged this week, and confided after the Fed' s two-day policy meeting that, despite continuing improvement in the US economy, weak global economic growth and turbulent markets had spooked the Fed into halving the number of times it expects to raise rates this year, to two from four. Yellen' s capitulation is already producing a predictable whoop of jubilation in Asian markets, as it confirms this column' s observation that the hot money crowd has succeeded in cry-bullying global central bankers into keeping the punchbowl of cheap cash full to overflowing. Stocks in Shanghai and Hong kong rose by more than 1%, while Philippine stocks were up almost 2%. While it' s often the case that Asian stocks move reflexively with those on Wall Street, today it' s all about the US dollar, which fell 1% against the Japanese yen and about 0.7% against the Euro. Even though Tokyo stocks are up, the Fed' s move is bad news for Japan and Europe as well as their respective central bankers, Haruhiko Kuroda and Mario Draghi. As this column explained yesterday, both gentlemen are working furiously to use a negative interest-rate policy to weaken their currencies, boost inflation and revive economic growth. Hearing that Yellen will not be riding to the rescue soon with another rate hike will come as bad news to them. But it' s excellent news for Asia' s smaller markets, since investors hunting for higher yields can no longer count on getting more bang for the buck out of Yellen. Indonesia' s rupiah, which has risen 6% already this year, gained another 0.8% after the Fed' s announcement . Malaysia' s ringgit - what corruption scandal -? rose 1% and South Korea' s won soared by 2.5%. Do not get too excited. While a more reluctant Fed extends the risk-on rally for Asian assets, it does not bode well for investors looking for fundamental value or an upturn in corporate profitability. In the meantime, investors have little choice but to go with the flow. Until higher U.S. rates finally do loom, emerging Asia remains a happy hunting ground. The most attractive markets remain Thailand, Indonesia, South Korea and China. Read more .... l i n k   |
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Isolator
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17-Mar-2016 12:46
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Just the beginning.. Long and enjoy.. | |||||||||||||||||||||||||||||||||||||||||||||||||
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WanSiTong
Supreme |
17-Mar-2016 12:43
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Chinese shares jump to two-month high in Hong Kong as oil gains MAR 17, 201612: 28 PM [HONG KONG] Chinese stocks in Hong Kong headed for a two-month high after oil jumped and US Federal Reserve officials scaled back their forecasts for interest-rate increases. The Hang Seng China Enterprises index rose 1.9 per cent. PetroChina Co. jumped the most in three weeks in Hong Kong after oil climbed for a second day, while Ping An Insurance Group Co. extended gains after reporting an increase in earnings. Chinese stocks have risen this month amid suspected buying by state-backed funds in some of the nation' s biggest companies during annual policy meetings. Premier Li Keqiang said at the close of the National People' s Congress Wednesday the government will use " innovative measures" to keep economic growth on track. The pressure on capital outflows from the country has eased significantly on changes in external and internal market conditions, the State Administration of Foreign Exchange said Wednesday. " The atmosphere in the market is quite favourable, with some buying interest returning" after the close of the NPC meetings, said Zhao Bingtong, a Shenzhen-based trader at Guosen Securities Co. |
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ecekca
Elite |
17-Mar-2016 12:18
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Chill...too much bullish now  
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trader20yr
Senior |
17-Mar-2016 12:03
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After FED decision, US up less than 0.5% and US future also up less than 0.5% ... not the 1%++ type that will really turn markets ... so this FED decision should be an expected  one and so the rally should  not be strong,  should be  short life ... still expect US to drop big big quite soon since  quite long never drop big big already  |
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Octavia
Supreme |
17-Mar-2016 10:15
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A dovish Federal Reserve held the line on interest rates Wednesday and substantially scaled back its expectations for further moves ahead. In addition to the two rate increases this year, the Federal Open Market Committee now projects just two hikes in 2017, according to the latest Summary of Economic Projections. 
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WanSiTong
Supreme |
17-Mar-2016 08:55
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Asian Indexes
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Goldfinger
Supreme |
17-Mar-2016 07:18
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Looks like one big fear factor, aka Fed rate hikes, is fading..
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WanSiTong
Supreme |
17-Mar-2016 06:58
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Stocks close higher as oil rises after Fed U.S. stocks closed higher Wednesday, helped by a rise in oil prices, following the release of the Federal Reserve' s statement and economic projections. " Clearly oil is playing a role," said John Bredemus, vice president, Allianz Investment Management. He also attributed gains in stocks to " a little more clarity around what the Fed is going to do." The Federal Reserve left rates unchanged and reduced projections for the number of rate hikes in 2016 to two from four, a greater drop than many expected. US crude oil futures settled up $ 2.12, or 5.8 percent, at $ 38.46 a barrel, with traders attributing some of the last leg higher to the Fed announcement. Oil gained after weekly crude oil inventories showed a smaller-than-expected build of 1.3 million barrels and following news producers will meet next month in Qatar to discuss a proposal to freeze output. Gold rises after the Fed policy decision Gold futures for April delivery jumped more than 2 percent, or $ 30, to $ 1,261 an ounce in electronic trade post-Fed, following a slightly lower settle earlier in the day. Read more ...... L i n k     |
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WanSiTong
Supreme |
17-Mar-2016 06:51
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AMERICAS MARKETS 
  Wall St. closes at 2016 high as Fed signals fewer rate hikes The S & P 500 closed at its highest level of the year on Wednesday after the U.S. Federal Reserve left interest rates untouched and signaled fewer rate hikes in coming months. The Fed indicated moderate U.S. economic growth and " strong job gains" would allow it to tighten policy this year with fresh projections showing policymakers expected two quarter-point hikes by the year' s end, half the number seen in December. But the U.S. central bank noted the United States continues to face risks from an uncertain global economy. Because of that uncertainty, " the committee judged it prudent to maintain the current policy stance at this meeting," Fed Chair Janet Yellen said. The decision to keep rates steady was in line with analyst predictions, but the Fed' s tone was surprising to some. " Most folks were looking for a slightly hawkish statement and they did not deliver in that," said Tom Porcelli, RBC Capital Markets chief U.S. economist. " It was balanced at best and probably even slightly dovish." Read more ...... L i n k   |
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Isolator
Supreme |
16-Mar-2016 22:51
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Enjoy the oil China related rally.., | |||||||||||||||||||||||||||||||||||||||||||||||||
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Isolator
Supreme |
16-Mar-2016 18:11
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Long oil... | |||||||||||||||||||||||||||||||||||||||||||||||||
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WanSiTong
Supreme |
16-Mar-2016 17:31
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Straits Times Index 2,844.21   0.17%   +4.77
 
 
Singapore stocks close mixed in lowest daily volume for the year MAR 16, 20165: 28 PM ACTIVITY in the local stock market - which had shown signs of slowing over the past week - ground to a virtual standstill on Wednesday ahead of the US Federal Reserve' s Open Markets Committee meeting. However, with the Dow futures rising about 20 points in the late afternoon and with Europe opening higher, the Straits Times Index (STI), which had languished in the red for almost the whole day, managed a 4.77 points rise to 2,844.21. Turnover amounted to a weak 1.3 billion units worth S $ 741 million, a far cry from the S $ 1.75 billion done a little over a week ago. It was the lowest single-day haul this year. Excluding warrants, there were 201 rises against 196 falls . In the commodities sector, Wilmar International' s shares added S $ 0.01 at S $ 3.23 on volume of 6.7 million. Macquarie Warrants (MW) in its daily newsletter said that Macquarie Equities Research likes the plantation sector for 2016 as it has a fundamental tailwind in the form of rising crude palm oil prices. " On Tuesday, palm oil futures for May delivery closed at RM2,611 / mt in Kuala Lumpur, the highest close for an actively traded futures month," noted MW. " Likewise, the world' s largest palm oil producer Wilmar this week closed at its highest since October 2015. "   |
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newbie24
Veteran |
16-Mar-2016 16:56
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A lot will depend on tonight's FED minutes and action (or inaction). Open new positions today only if you are willing to bear the risks... | |||||||||||||||||||||||||||||||||||||||||||||||||
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Isolator
Supreme |
16-Mar-2016 16:47
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So enjoying.... Long oil China related... | |||||||||||||||||||||||||||||||||||||||||||||||||
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WanSiTong
Supreme |
16-Mar-2016 16:32
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European stocks propped up as shares in oil firms rise MAR 16, 20164: 26 PM [LONDON] European stocks rose slightly on Wednesday, as a rise in the shares of energy companies propped up the region' s markets. Investors were expected to trade relatively cautiously before the US Federal Reserve' s latest interest rate decision due later in the day, with the Fed expected to hold interest rates steady. The Fed' s latest policy statement, due to be released at 1800 GMT along with updated economic projections, will show how comfortable policymakers are in proceeding with the gradual rate hike path they embraced late last year.   |
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WanSiTong
Supreme |
16-Mar-2016 16:29
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Dow future up 24Europe 
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Octavia
Supreme |
16-Mar-2016 15:34
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If the first two counters can turned ard significantly ..it will song song gao Joo Koon.
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WanSiTong
Supreme |
16-Mar-2016 15:28
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Asia: Traders play wait-and-see ahead of Fed decision MAR 16, 2016   11:18 AM Asian markets mostly ticked up on Wednesday ahead of the Federal Reserve' s latest policy meeting, with dealers hoping for forward guidance on its plans for interest rates this year. Crude also recovered after a sharp two-day sell-off although there is a growing nervousness over talks between key producers about a possible output freeze aimed at addressing a global supply glut. With few catalysts to drive trade, investors played it safe prior to the conclusion of the Fed meeting and a statement from chair Janet Yellen. " We need to see whether we' ll have one or two rate hikes this year, and whether the next one will come in June." Hong Kong added 0.2 per cent, Shanghai put on 0.2 per cent and Seoul 0.3 per cent while Singapore   and Sydney were marginally higher. However, Tokyo ended the morning session 0.4 per cent lower while the yen dipped a day after the Bank of Japan defended its negative interest rate policy and hinted at further measures aimed at kickstarting lending. Oil prices rose after losing around five per cent on Monday and Tuesday as Iran - back on the scene after nuclear-linked sanctions were lifted - said it would not join an effort to freeze production until its own output reached 4.0 million barrels per day, about double its current level. A meeting proposed by Russia and Saudi Arabia to discuss output limits has been pushed back to April from March 20, after signs some key producing nations do not support the move. However, in morning trade US benchmark West Texas Intermediate was up 1.4 per cent and Brent was up one percent.   Asian Indexes
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Isolator
Supreme |
16-Mar-2016 14:00
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Don't say I never give tips... The choice is yours.... Long and enjoy.., | |||||||||||||||||||||||||||||||||||||||||||||||||
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