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STI to cross 3000 boosted by long-term investors
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risktaker
Supreme |
17-Sep-2015 08:21
Yells: "Posts are opinions. Do not take it as investment advise " |
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x 0 Alert Admin |
got a feeling today is take profit day... | ||||
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WanSiTong
Supreme |
17-Sep-2015 07:13
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Dow +0.84%16,739.95 / +140.10 Dasdaq +0.59%4,889.24 / +28.72 S & P +0.87%1,995.31 / +17.22 Energy stocks lift Wall St. on eve of Fed rate decision Energy stocks pushed Wall Street higher on Wednesday due to an almost 6-percent jump in oil prices, but many investors stayed on the sidelines a day ahead of the US Federal Reserve' s decision on interest rates. The energy index .SPNY led a broad rally for the S & P 500 benchmark index .SPX with a 2.8 percent increase as crude oil prices settled up 5.7 percent after an unexpected drawdown in US stockpiles. " Energy was what gave it the initial spark and the fact the energy rally kept rolling gave people reassurance they could step into other sectors as well," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. Trading was relatively thin with only 6.6 billion shares changing hands on US exchanges on Wednesday, below the 8.03 billion daily average for the previous 20 trading days, according to Thomson Reuters data. The Fed is due to announce a decision on Thursday afternoon to either end or extend seven years of near-zero interest rates, potentially relieving markets of months of uncertainty as investors have been trying to predict the timing of a hike. But the market' s rise did not indicate any real conviction about what the Fed will decide, said Tom Donino, co-head of trading at FNY Capital Management in New York. " It' s either shorts covering, because they do not want to be short tomorrow ahead of the Fed meeting, or it' s people that want to be long getting long in front of the Fed," said Donino. " The market' s going to be volatile tomorrow . " Wall Street' s top economists are on unfamiliar ground: as the Federal Reserve decides whether to raise interest rates for the first time in years, they are deeply divided on what will happen. Fed fund futures < 0 # FF:> . See only a 30-percent chance that Janet Yellen and her colleagues will pull the trigger this week Of the 80 economists polled by Reuters, only 35 said the central bank is likely to raise rates this week . Markets brace for Fed impact The Dow Jones industrial average .DJI closed up 140.1 points, or 0.84 percent, to 16,739.95, the S & P 500 .SPX gained 17.22 points, or 0.87 percent, to 1,995.31 and the Nasdaq Composite .IXIC added 28.72 points, or 0.59 percent, to 4,889.24 . The materials sector .SPLRCM was the next best gainer behind energy with an 1.44 percent rise after Glencore PLC (GLEN.L) raised $ 2.5 billion through a share placement, boosting mining stocks and metals prices. " That put a little bit of backbone behind people who want to start buying these mining stocks here," said FNY' s Donino. The S & P' s telecommunications index .SPLRCL, the only sector out of ten in negative territory, fell 0.22 percent. Stocks have been volatile since China devalued its currency in August. The S & P 500 has had moves of at least 1 percent in 12 out of the last 19 sessions. NYSE advancing issues outnumbered decliners 2,358 to 707, for a 3.34-to-1 ratio on the Nasdaq, 1,753 issues rose and 1,056 fell, for a 1.66-to-1 ratio favoring advancers. The S & P 500 posted 9 new 52-week highs and 1 low the Nasdaq recorded 39 new highs and 34 lows. |
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tomhanks
Master |
17-Sep-2015 03:49
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Guys, look what the conman says: With so many of alumni of goldman sachs running the US treasury, Does this guy know something? http://www.bloomberg.com/news/articles/2015-09-16/goldman-s-blankfein-says-data-isn-t-compelling-for-rate-increase U.S. economic data don&rsquo t support the case for higher interest rates, Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said. The Federal Reserve&rsquo s end of quantitative easing and higher taxes have acted as a brake on the economy and a form of tightening, Blankfein said Wednesday at a breakfast in New York sponsored by the Wall Street Journal. &ldquo I wouldn&rsquo t do it unless I was compelled,&rdquo said Blankfein, 61. U.S. policy makers will conclude a two-day meeting Thursday where they&rsquo re weighing restrained prices, rising volatility in financial markets and the resilient U.S. labor market. Prices paid by American households declined in August and the Fed&rsquo s preferred gauge of inflation, linked to consumer spending, hasn&rsquo t been above the central bank&rsquo s 2 percent goal since March 2012. Any decision to increase interest rates should be driven by economic data, Blankfein said, adding that even if policy makers raise the benchmark rate, the move won&rsquo t be consequential. Financial markets are vulnerable because of disagreement about what the Fed will do, Goldman Sachs Chief Economist Jan Hatzius said in a Bloomberg Television interview Tuesday. He predicted the central bank probably won&rsquo t act until December, and might even wait until next year. Blankfein also criticized the Chinese government&rsquo s handling of the recent market decline, calling it &ldquo awfully sloppy&rdquo and &ldquo ham-handed.&rdquo Restrictions on selling shares and purchases by the government probably had the opposite effect than intended by scaring away potential buyers, he said. &ldquo If I wanted to invest in China, I wouldn&rsquo t invest now,&rdquo Blankfein said. &ldquo I&rsquo m not going to buy after the Chinese government may have intervened.&rdquo |
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WanSiTong
Supreme |
16-Sep-2015 19:32
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Volatility seen lingering no matter what the Fed does NEW YORK (Sept 16): While investors, traders and forecasters may be on the fence as to whether the Fed pulls the trigger this week on the first US interest rate hike in nearly a decade, Wall Street' s " smart money" is decisive on one thing: market volatility will linger. Heading into Thursday' s potentially momentous decision on interest rates from the Federal Open Market Committee, the Federal Reserve' s monetary policy-setting panel, speculative positions in CBOE VIX index futures are the most net long on record. . To this crowd of hedge funds and other big speculators, it really does not matter what the Fed does Raising rates for the first time since 2006 would almost certainly send waves through equity markets, and not moving will keep the guessing game - and accompanying market gyrations - alive for weeks to come. " There is a general consensus in the market that the Fed meeting will continue the volatility, and if they do not do anything it may sustain the volatility at least for six more weeks till their next meeting," said JJ Kinahan, chief strategist at TD Ameritrade in Chicago. The most recent weekly Commitments of Traders data from the Commodity Futures Trading Commission shows speculative net long positions in VIX futures stood at 37,925 contracts as of Sept. 13. Not only is that a record high, it is more than two standard deviations from the norm . Since VIX futures, a forward-looking gauge of market risk, were introduced in 2004, speculative positions have been skewed toward lower volatility far more often than not. Long VIX futures positions benefit from increased volatility and can be used to protect equity portfolios. Moreover, positioning in VIX futures has flipped like never before over the last month as the Fed guessing game has been compounded by worries over the health of China' s economy and its wobbly stock market. In contrast to the latest positioning, speculators in early August were net short by 64,445 contracts - a reversal of more than 100,000 in five weeks - highlighting the strong conviction of hedge funds and other large speculators that market gyrations are far from over. Longest Vol bout in four years Volatility arrived in earnest for US stocks about four weeks ago as investors got rattled by a free fall in Chinese stocks and a series of unsuccessful measures by authorities there to stem the sell off. That helped push the Standard & Poor' s 500 index into its first formal correction in four years, and the US benchmark remains more than 7% off its record-high close set back in May. Unlike the many fleeting instances of volatility spikes seen in the last couple of years, the current run up has not been quick to recede. On Tuesday the VIX, which measures the cost for protective downside positions on the S & P, closed above 22 for the 17th consecutive day, the longest it has lingered above that level in nearly four years. The index was last down 1.7 points at 22.54 on Tuesday . Given the duration of the current bout of volatility and shocks of similar magnitude in 1998, 2010, and 2011, it is unlikely that calm will return to markets very quickly, MKM Partners derivatives strategist Jim Strugger said in a note. Trading in the options market also points to caution as investors protect their positions and look to replace expiring hedges. " Do I want to hedge for the next Fed meeting, or do I want to hedge for the end of year Fed meeting?" Is a question some traders appear to be asking, Kinahan said. Another factor is that Friday is a " quadruple-witching" day, when options on stocks and indexes, and index and single-stock futures all expire together. The expiry of existing positions and the opening of new positions, called rolling, could make for some heavy trading later this week and add to market volatility. With the Fed decision due at 2 pm Thursday, just hours before all those positions expire, it could make for chaotic trading. " Thursday afternoon has a potential to be really active because what the Fed says in the meeting may spell out to people where they need to hedge to," Kinahan said. |
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WanSiTong
Supreme |
16-Sep-2015 17:47
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China plans to quickly spend RMB200 billion in unused govt funds September 16, 2015: 5:26 PM China plans to invest about RMB200 billion ($ 43.96 billion) in unspent fiscal funds as soon as possible, an official from the state planner said, adding it was not accurate that authorities had seized untapped local government allocations totalling one trillion yuan. Reuters reported on Monday that angry Chinese officials had repossessed up to one trillion yuan of unused money from local governments that failed to splash out on big-ticket projects in order to lie low in an anti-graft crackdown. When asked on Wednesday about the report, Xu Kunlin, the head of the National Development and Reform Commission' s investment office, said the ne trillion yuan figure " should not be taken to be authentic" " My understanding of the situation is around 200 billion yuan of leftover funds have been cleared up, " Mr Xu said, without elaborating." The focus is on re-adjusting the usage of these funds, " he said, adding that the money will be reinvested as quickly as possible in several major construction projects. No details were given. Unspent fiscal budgets are a further drag on China' s economy in a year when growth is grinding toward a low not seen in a quarter of a century. Spooked by China' s biggest-ever and ongoing crackdown on corruption, many Chinese officials in the past 18 months have resorted to dithering over approving major projects to stay out of potential trouble. That has annoyed Beijing, which has scolded procrastinating local governments for their laziness and repeatedly threatened to punish them by recalling their untouched budgets. HSBC Bank estimated in May that China had RMB3.8 trillion of unused fiscal funds carried over from previous years. Mr Xu' s acknowledgement that China will not let fiscal funds sit idle echoed recent comments from the government that it wants to ramp up spending to bolster a stuttering economy. Data released last week showed the world' s second-largest economy lost more steam in August despite five interest rate cuts since November, with growth in investment and factory output both missing forecasts. Analysts said the figures reinforced arguments that China must further loosen policy to stoke its economy and increasing investment is seen by many as the best way to lift growth in the short-term. |
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WanSiTong
Supreme |
16-Sep-2015 16:25
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US will likely get a rate hike tomorrow: UBS Chairman 3 Hours Ago This week it' s all about the US Federal Reserve. Markets are poised, financial leaders are tuned in and everyone is wondering ... will the Fed raise rates on Thursday? While central bankers will not typically give much away, one former policymaker-turned-bank chairman told CNBC that the US' s recent positive economic data showed a rate hike was due. " The underlying economic data in the US warrants a rate hike. The US economy can stand it. The US economy in my view actually needs it medium- to long-term and I' m pretty convinced that the US will see a rate hike, most likely in September, " Axel Weber, now chairman of UBS and formerly president of Germany' s central bank, told CNBC on Tuesday. Weber' s opinion on when the Fed will raise rates is of high interest to financial markets, given his role as the head of the Bundesbank between 2004 and 2011 and his commensurate membership of the European Central Bank' s Governing Council. If the Fed hikes in September as Weber suggests, this would be the first increase after nine years off rock-bottom rates. Policymakers at the US central bank will meet on Wednesday, with their decision to be announced on Thursday. Fed Chair Janet Yellen has previously said that a rate rise is " data-dependent" -and Weber highlighted that the estimate for US economic growth in the first quarter has been upgraded to an annualized 0.6 percent. In addition, second quarter growth came in at a " very good" 3.7 percent annualized. Nonetheless, Weber told CNBC that it would be acceptable for the Fed to hold off raising rates until later in the Fall, as long as it communicated its strategy efficiently throughout. " They need a longer-term anchored communication process to make clear that the current turnaround in policy will be followed by a moderate and more adequate raising of rates. I think getting the medium-term communication right for the Fed, is much more a challenge than getting the first move right, " he said. |
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WanSiTong
Supreme |
16-Sep-2015 16:19
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China shares end up nearly 5% in late-day spike 50 Mins Ago Asian shares advanced on Wednesday, with markets in China spiking in the final minutes of trade, as the morale of investors got a boost from an overnight rally on Wall Street. Major US averages rallied more than 1 percent each on Tuesday, as investors eyed some of the final data reports leading into the Federal Reserve' s highly-anticipated two-day meeting that kicks off later in the global day. Analysts remain divided on whether the US central bank will this week lift short-term interest rates for the first time in nine years. Read MoreHow fast will the Fed hike rates? Heller weighs in " [The] conditions are right for a move and we believe the Fed will raise rates by 25 basis points on September 17," Zal Devitre, head of investments at Citibank Singapore, told CNBC' s " Street Signs Asia." " We need to look at the core mandates of the Fed, which is to ensure full employment, price stability and gentle price inflation [and] we think those have been achieved," Devitre added. By contrast, Keith Fitz-Gerald, chief investment strategist at Moneymorning.com, feels that a tightening in the US monetary policy will " upset global markets" and the move will be " unbelievably irresponsible." |
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WanSiTong
Supreme |
16-Sep-2015 16:14
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China investors focus was on CITIC Securities and the investigations that involve general manager Cheng Boming and Wang Jinling, vice manager of the information technology centre. Both are suspected of insider trading and leaking information. The case is being watched closely as CITIC has been an avid supporter of Beijing' s efforts to rescue the market. There appeared some renewed interest in shares of state-owned enterprises (SOEs) on reform hopes, after China' s two major shipping firms, China Ocean Shipping (Group) Company (COSCO) and China Shipping Group, hinted at prospects of an asset restructuring. The northbound daily quota for the Hong Kong-Shanghai Stock Connect, currently set at 13 billion yuan, saw net inflows of 1.44 billion yuan.
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tomhanks
Master |
16-Sep-2015 15:42
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Yep...china factor, growth slowdown, interest rate hike, greece issue all factored in.... Only thing left is the routine debt ceiling issue which will come up when the Americans wont agree till the last minute in the congress. Well, i guess we are all used to that soap drama by now year after year.
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FATABA
Supreme |
16-Sep-2015 15:39
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Even if there is a rate hike/ which is possible....very honestly its known and talk about too long ...and it should have factor into prices. At most a knee jerk reaction and back to normal or even good upside.
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RoundRound
Elite |
16-Sep-2015 15:33
Yells: "Tikam Tikam can also" |
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I'm cautiously optimise this Thursday Yellen may yell interest rate hike so limiting my exposure to the market. ...just my thought... | ||||
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FATABA
Supreme |
16-Sep-2015 15:27
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STI up 40+ pts is not licking wounds ler. They are more factors I guess....GE confident, interest rate ( up or not honestly its factor in ...anyway quarter pt) . HK/CHINA leading expectation of recovery for their market. ( China growth at 6.5 to 7% is still good) ....
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tomhanks
Master |
16-Sep-2015 15:16
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Shanghai comp and Hang seng ran up lik a boss. STI licking wounds...lol |
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fernvale
Master |
16-Sep-2015 15:10
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suspects funds knew Fed wont hike rates, so they on buying spree. They control the Fed
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FATABA
Supreme |
16-Sep-2015 15:00
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Wow...since 2.30 HSI and SSE are on speed boat....600+ and 160+ as of now..... Are there any news out of China that anyone can share ? |
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WanSiTong
Supreme |
16-Sep-2015 14:53
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China stocks calm after 2-day slump Asia markets rise China stocks calmed down on Wednesday morning after falling 6 percent over the past two days. Hong Kong shares also rises 530 points (2.4%), as investors anxiously await the US Federal Reserve' s decision later in the week on whether to lift rates. Japanese stocks rose 0.80% on Wednesday as investors continued to cover short positions after strong US consumer spending buoyed sentiment, with automakers and electronics shares leading the gains. |
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WanSiTong
Supreme |
16-Sep-2015 13:20
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Noon Market STI gains 0.88% to 2,867.00 at midday September 16, 2015: 12:21 PM Singapore stocks are trading higher at noon on Wednesday amid gains by most Asian stocks ahead of a meeting of the US Federal Reserve. While most analysts had earlier believed that the first rate increase in nearly a decade will come during the September meeting of the Fed' s rate-setting committee, many now believe that the central bank will stay on hold longer amid a weaker global economy and easing Chinese growth By 12.05pm, the Straits Times Index was up 0.88% to 2,867.00. Market breadth was positive. Excluding warrants, gainers outnumber decliners 197 to 115. The Straits Times Index traded between 2,855.78 and 2,870.47, after opening 0.71% higher at 2,862.06. A total of 526.3 million shares worth $ 416.3 million changed hands, giving an average price of about 79 cents per share for the entire market. Capitaland was up 1.4% at $ 2.81 after announcing a project in Vietnam and Global Logistic Properties was up 2.4% at $ 2.10. Recently battered shipping yards are also up, with Ezra Holdings is up 0.8% at 12.1 cents and Yangzijiang Shipbuilding adding 2.5% to $ 1.21 . Most actively traded counters lincluded mDR, Noble Group, Geo Energy Resources and China Sky Chemical Fibre. Natural Cool Holdings last traded at 12.9 cents on Tuesday. The air-conditioning systems provider had entered into a sale and purchase agreement with Nitto Kogyo Corporation, for the proposed disposal of 3.78 million shares in Gathergates Group, representing 100% of the latter' s issued share capital. Asiatravel.com Holdings rose 5% to 23 cents, before the tour package and hotel reservation company requested for a trading halt on its shares pending the release of an announcement. Koda traded flat at 8 cents. The furniture manufacturer proposed to undertake a share consolidation of every five existing shares in the company into one ordinary share. This exercise is to comply with the minimum trading price requirement of 20 cents per share. Companies that went ex-dividend on Wednesday include IEV Holdings and Tan Chong International.] |
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tomhanks
Master |
16-Sep-2015 08:56
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Singapore Shares Poised To Halt Losing Streakhttp://www.nasdaq.com/article/singapore-shares-poised-to-halt-losing-streak-20150915-01218 |
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WanSiTong
Supreme |
16-Sep-2015 08:55
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Stocks To Watch IHC, Healthway, Hyflux, Capitaland, SGX, Technics O & G September 16, 2015: 8:43 AM Here are some stocks that could move the market this Tuesday morning. International Healthway Corp (IHC) intends to form an unlisted wholesale property trust or private REIT with its Australian portfolio of property assets before inviting investors to invest in the REIT. The move by IHC comes after the sale and purchase agreement with a third party for two of the group' s properties in Melbourne was terminated. Meanwhile, Healthway Medical Corporation has called for a trading halt this morning to announce a revision of the terms of its acquisition by IHC after SGX' s trade with caution warning on IHC shares and their subsequent. IHC last traded at 31.5 cents while Healthway last traded at 3.8 cents. Hyflux and consortium partner Mitsubishi Heavy Industries has won a contract to design, build, own and operate a waste-to-energy (WTE) plant in Tuas from Singapore' s National Environment Agency for a period of 25 years. The WTE plant will be able to process 3,600 tonnes of waste per day and generate 120 MW of electricity. The project, valued at an estimated $ 750 million, is expected to be completed by 2019. Hyflux last traded at 63 cents. Capitaland, through a wholly owned subsidiary, has entered into a joint venture with Thien Duc Trading-Construction Company to develop a 2.6-hectare site in District 2, Ho Chi Minh City, Vietnam, into an upscale residential development with about 1,000 homes. The development will have an estimated total project value of US $ 150 million ($ 211 million). Capitaland closed at $ 2.77. Singapore Exchange has formed three independent committees to advise the market regulator on listing, disciplinary and appeal matters ahead of a new disciplinary framework that will take effect next month which will give SGX the ability to impose fines on issuers' office-holders and issue managers, as well as to restrict their access to the market. SGX closed at $ 7.45. A subsidiary of Technics Oil & Gas has clinched a contract worth $ 70.5 million to construct a liftboat. Technics closed at 60 cents. Markets US stocks mounted a mini rally on Tuesday as the main indexes scored their third winning session in the last four. But some market participants found it difficult to pinpoint distinct drivers behind the run-up, especially as the yield on two-year Treasury note jumped to its highest levels in more than four years, suggesting that Treasury investors are bracing for a rate hike. The S & P 500 climbed 25.05 points, or 1.3% to 1,978.09, the Dow jumped 228.89 points, or 1.4%, to 16,599.85 while Nasdaq gained 54.76 points, or 1.1% to 4,860.52. Singapore stocks lost ground though. Apart from a smattering of small-cap news, there was little to drive trading. For most traders, the US Federal Reserve is this week' s big unknown. The Straits Times Index ended the day 1.03% lower at 2,841.94, after trading between 2,837.59 and 2,857.14. Market breadth was negative. Decliners outnumbered gainers 240 to 167. A total of 1.34 billion shares worth about $ 1.5 billion changed hands. |
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WanSiTong
Supreme |
16-Sep-2015 06:54
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Dow +1.40%16,599.85 / +228.89 Nasdaq +1.14%4,860.52 / +54.76 S & P +1.28%1,978.09 / +25.06 Wall St. rallies as clock ticks toward Fed decisionU.S. stocks rallied over 1 percent on Tuesday after data showed healthy growth in consumer spending but did little to remove uncertainty about whether the Federal Reserve will raise rates this week. Speculation about when the Fed will end seven years of near-zero interest rates has dogged Wall Street for several months, with the picture complicated by recent market turbulence that some see as justification for the central bank to hold off. " The debate around the Fed continues, but the Fed will do more damage waiting for December to raise rather than start the normalization process," said Art Hogan, chief market strategist at Wunderlich Securities. " If they don' t raise rates this week, it' s a bad signal." The Commerce Department said core retail sales rose 0.4 percent in August after an upwardly revised 0.6 percent increase in July. It was the latest sign of sturdy economic momentum and suggested the recent stock market selloff had little immediate impact on U.S. household spending. U.S. interest rates futures implied traders place a 27 percent chance the Fed would end its near-zero interest rate policy on Thursday FFU5, up from 23 percent late on Monday, according to CME Group' s FedWatch program. " It' s tough to call," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. " In the context of the world economy and the uncertainty around China, they might give it another month." The Dow Jones industrial average .DJI rose 228.89 points, or 1.4 percent, to end at 16,599.85 points. The S& P 500 .SPX gained 1.28 percent to 1,978.09 and the Nasdaq Composite .IXICadded 1.14 percent to 4,860.52. All 10 major S& P sectors were up, with the industrials index' s .SPLRCI 1.68 percent gain leading advancers and GE (GE.N) rising 2.14 percent. Microsoft (MSFT.O) jumped 2.18 percent, making the biggest single contribution to the S& P' s rally. The financial index .SPSY rose 1.65 percent, led by JPMorgan' s (JPM.N) 2.15 percent rise. Stocks have been volatile since China devalued its currency in August. The S& P 500 has had moves of at least 1 percent in 12 of the past 18 sessions. The S& P remains down 4 percent for 2015 and recently traded at 15.4 times expected earnings, a tad cheaper than the 15-year average of 15.6 times earnings, according to Thomson Reuters Starmine. Shares of Fiat Chrysler Automobiles (FCAU.N) rose 3.42 percent. The United Auto Workers union said it will keep talking with the automaker to reach a new contract for the company' s U.S. factory workers, delaying a possible strike at its most profitable operations. Gray Television (GTN.N) jumped 13.29 percent after the broadcaster said it would buy Schurz Communications' television and radio stations for $442.5 million. Advancing issues outnumbered decliners on the NYSE by 2,124 to 926. On the Nasdaq, 1,930 issues rose and 869 fell. The S& P 500 index showed three new 52-week highs and five new lows, while the Nasdaq recorded 39 new highs and 67 new lows. About 5.8 billion shares changed hands on U.S. exchanges, below the 8.0 billion daily average for the previous 20 trading days, according to Thomson Reuters data. |
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