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US stocks higher, Dow at 13-month high
NEW YORK: Investors halted a three-day losing streak on the stock market Monday, sending prices broadly higher on a weaker dollar and better-than-expected home sales numbers.
Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high.
Volume was thin ahead of the Thanksgiving holiday, which can exaggerate the size of swings in the market.
Investors found plenty reasons to buy as the day's developments pointed to two trends: an improving economy and interest rates that are expected to stay low.
_ The National Association of Realtors reported that October home sales rose more than 10 percent revived investors' optimism after disappointing data on the housing industry last week raised concerns about the strength of the economic recovery.
_ Charles Evans, head of the Federal Reserve Bank of Chicago, was quoted as saying he saw little risk that the economy would slide back into recession, although unemployment is unlikely to fall until next summer. And James Bullard, president of the Federal Reserve Bank in St. Louis, said the U.S. Fed should continue to buy mortgage-backed securities after the program is supposed to expire in March. That would continue to keep interest rates low.
_ The dollar, a key factor in stock trading in recent months, extended its pullback, sending prices for commodities including gold and oil higher and in turn, the stocks of companies that produce them.
Meanwhile, bond prices retreated as investors regained their appetite for risk. Low interest rates and a resulting slide in the dollar have been big drivers behind the stock market's eight-month rally.
Low interest rates enable investors to borrow cheaply and buy assets like stocks and commodities that have the potential to earn higher yields than cash.
Investors were buying Monday on somewhat contradictory forces in the market.
The strength in housing is a sign of an improving economy, which could argue in favor of raising rates, while the dollar's weakness points to rates remaining low.
Analysts say investors who still have plenty of available cash are primed to buy, and so the market may also be rising on its own momentum.
"There's still $2 trillion of cash that needs to find its way into the stock market," said Phil Orlando, chief equity market strategist at Federated Investors.
Orlando said investors will continue to look for dips in the rally as a way to get into the market, not wanting to end the year without participating in some of the big gains stocks have made.
"Bearish managers are sweating bullets that they're not going to be able to get that cash in the market and they need to do that," he said.
"That is why any pullback we've seen this year has been met with a wave of cash that has pushed stocks up higher."
At the same time, many portfolio managers have cooled their buying, not wanting to risk losing the big returns they've made since stocks began rallying in March.
Those opposing forces are likely to result in choppy trading over the next few weeks, analysts said, which will be exacerbated by light volume as the holidays approach.
The Dow rose 132.79, or 1.3 percent, to 10,450.95, after losing 120 points over the previous three days.
The Dow rose as much as 177 points to a 13-month trading high of 10,495.61.
The Standard & Poor's 500 index rose 14.86, or 1.4 percent, to 1,106.24.
The Nasdaq composite index rose 29.97, or 1.4 percent, to 2,176.01.
Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a low 979.9 million shares, compared with 1.1 billion Friday.
In other trading, the Russell 2000 index of smaller companies rose 10.13, or 1.7 percent, to 594.81.
Many traders were already on vacation for Thanksgiving, and the decreased volume can contribute to price swings.
The ICE Futures U.S. dollar index, a widely used measure of the dollar against other currencies, fell 0.7 percent.
As the dollar fell, gold prices surged to a new high of $1,174 an ounce.
Oil rose 9 cents to $77.56 a barrel on the New York Mercantile Exchange.
The spike in commodities lifted the shares of energy companies and materials producers.
Chevron Corp. rose $1.97, or 2.6 percent, to $78.74. Weyerhaeuser Co. gained $1.25, or 3.3 percent, to $39.11.
Bond prices were mixed.
The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.36 percent from 3.37 percent late Friday.
The yield on the three-month T-bill, considered one of the safest investments, rose to 0.02 percent from 0.01 percent.
The yield on the three-month bill briefly dipped into negative territory last week as worries about the economy took hold and investors retreated to safe havens like the dollar and government debt as they sold stocks.
Investors wanting to lock in profits as the year comes to a close are willing to earn very little to park their cash in a safe place.
"It's not a time for taking chances," said Quincy Krosby, market strategist at Prudential Financial.
The National Association of Realtors said home sales rose 10.1 percent in October to the highest level in two and a half years, spurred by a tax credit for first-time homebuyers.
Analysts had been expecting a 1.4 percent increase in sales.
The credit, due to end at the end of the month, has been extended into 2010.
"You could be completely cynical and say this market is moving up today because volume is low and the dollar is weak, but I would have to add that we're getting confirmation on the sustainability of the economic recovery by the actual fundamentals," Krosby said, referring to the housing report. - AP |
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lama tak singgah sini, mana semua UTC ning
tam99 Post at 19-11-2009 07:47 
busy kot tam....nak kejar target hujung tahun..
aku busy dengan sales, dan busy settle renovate rumah..
penat............................ |
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Markets decline on recovery, China concerns
KUALA LUMPUR: Stock prices in Asia traded broadly lower on Tuesday, despite the overnight rally on Wall Street. Investors continued to stay cautious amid concerns over the strength and sustainability of the recovery, especially relative to stock prices.
On Monday, the Dow Jones industrial average surged 133 points to a 13-month high of 10,451 points. This was fueled in part by data showing US home sales rose 10.1% in October to the highest level in two and a half years, spurred by a tax credit for first-time homebuyers.
However, investors turned more cautious in the region ahead of more key US economic data due in this holiday-shortened week. These include revisions to US 3Q09 gross domestic product, consumer confidence, and FOMC minutes.
Investors are also now closely monitoring the movement of the US dollar and crude oil prices, which highlight the extent of speculative carry trades. There is no doubt that part of the more recent gains have been due to speculative "carry trades", as investors leverage on the depreciating US dollar with low interest rates to seek riskier assets in stocks and commodities.
Financial markets in North Asia also reacted negatively to news that China's central bank was warning banks to control a lending spree, which has underpinned its robust growth in the midst of the global recession. China's Shanghai Composite Index fell 3.5% while Hong Kong's Hang Seng Index fell 1.5%.
The FBM KLCI was in minor positive territory in the morning session, but turned negative in the afternoon. The benchmark index ended the day up 1.2 points to 1,272.1 points. Market breadth was negative with declining stocks beating advancing ones by a 7-to-6 ratio. Trading volume fell from 808 million to 760 million shares.
Actively traded stocks include KNM, Maxis, Time, Sime Darby and Etitech. Major gainers include Petronas Dagangan, UBG and KL Kepong. Losers include Tanjong plc, Hai-O and Maxis.
Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned. |
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Tengah2 nak recover ni, ada Dubai shock lah pulok...raya qurban pon sedang disambut...cubaan... |
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Tauke, mana hang pi...tangkap lembu tak dapat2 lagi ke |
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apa dah jadi dengan dubai ni..........
market hang seng, 4 pct plus drop..china 2-3 percent..habis le pcif
Mobius Says Dubai May Trigger Markets ‘Correction’ (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Zeb Eckert and Reinie Booysen
Nov. 27 (Bloomberg) -- Templeton Asset Management Ltd.’s Mark Mobius said Dubai’s attempt to reschedule debt may cause a “correction” in emerging markets, compounded by Vietnam’s currency devaluation and an “avalanche” of initial share sales.
“This may be the trigger to allow for the market to take a rest and pull back,” Mobius told Bloomberg Television by phone from Hanoi. “I felt that there would be a significant correction in what is an ongoing bull market.”
Stocks dropped around the world, Treasuries jumped and credit default swaps climbed after Dubai World, the government investment company burdened by $59 billion of liabilities, sought to delay repayment of debt. The dollar briefly fell below 85 yen, a 14-year low.
“It will be pretty serious because if Dubai has to default, that could start a wave of defaults in other areas,” said Mobius, who oversees $25 billion in emerging-market assets as executive chairman of Templeton Asset |
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Tengah2 nak recover ni, ada Dubai shock lah pulok...raya qurban pon sedang disambut...cubaan...
tam99 Post at 28-11-2009 08:02
tam, dok balik kg ke..selamat hari raya aidil adha untuk tam dan semua.... |
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Malaysian construction firms in Dubai have minimum exposure
By DANNY YAP
Malaysian construction companies are not likely to be hit by the debt crisis affecting Dubai
PETALING JAYA: Malaysian construction companies are not likely to be hit by the debt crisis affecting Dubai, said industry players. Dubai has been struggling to ease fears of a massive debt default after it moved to delay repayments at two flagship firms, which has shook confidence in the Middle East as a centre for investment.
Master Builders Association Malaysia (MBAM) president Ng Kee Leen said most of the Malaysian construction companies had either pulled out or were at the tail-end of completing their contruction projects there.
“There aren’t many local construction companies left in Dubai,” he told StarBiz yesterday.
Meanwhile IJM Corp Bhd chief executive officer Datuk Krishnan Tan said the company had already completed the bulk of its projects in Dubai.
Ng Kee Leen (right) ... ‘There aren’t many Malaysian construction firms left in Dubai.’
“IJM is not affected. We don’t have much there (construction projects in Dubai). We’re almost done with the construction of Fortune Tower at Jumeirah Lake in Dubai,” he said, adding that currently there was no problem with payments.
A Gamuda Bhd top official said the company was not significantly exposed to the fallout in the construction sector in Dubai.
Interior fit-out (IFO) company LCL Corp Bhd founder and executive chairman Datuk Low Chin Meng said payments were generally slow in Dubai.
“We will shift our focus on interior fit-out (IFO) contracts in cash-rich Abu Dhabi, after the completion of projects in Dubai,” he said.
The company has projects such as Atlantis The Palm Hotel, Dubai Metro System, Dubai Mall and Dubai Marina Hotel.
Concern over the level of debt held by the Government and its affiliated companies had sent jitters throughout the Gulf region and had affected investors confidence level.
Earlier in the year the Dubai’s stock market was down 60% and many residents believed that the property market was on the brink of collapse.
Dubai had borrowed billions to finance its infrastructure and construction companies such as Dubai World, and Emirates Airline.
A local property analyst said Dubai was likely to be on the road to recovery.
“The worst is likely over as the market has bottomed out. The economy was very bad at the start of the year. The housing market fell into a slump and property prices fell as much as 50% even in prime location and many expatriates left the place,” he said.
Early this year, WCT Bhd lost a US$1.3bil (RM4.6bil) contract to build a racetrack in Dubai it had won back in 2007 as the client alleged that WCT and its partner Arabtec Holding PSJC was behind schedule. However, WCT disputes the accusation and is presently fighting to reclaim RM300mil that includes advance payment of RM178mil and a performance bond.
It also seems that the Iskandar growth region in southern Johor will not be affected by the Dubai debt crisis. It was reported that Johor Mentri Besar Datuk Abdul Ghani Othman said this was because only one company from Dubai had invested in a real estate sector in the growth region. He said the company, Damac Properties, was involved in a property project on an 8ha site in the Iskandar region. He added that most of the investors in the growth area are from Saudi Arabia, Kuwait and Abu Dhabi and that the Dubai company had yet to start operation |
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Further corrections expected for KL bourse
Technical outlook
Shares on Bursa Malaysia extended profit-taking declines on Monday, with losses in key plantation and gaming stocks dragging down the FBM KLCI, while lower liners retreated on waning buying interest. The correction continued in the rest of last week, as stock markets in the region ignored the overnight rally on Wall Street triggered by stronger-than-expected existing home sales in October. Extended losses in core banking heavyweights Maybank, CIMB and AMMB was the major factor dampening sentiment last week.
The FBM KLCI peaked at 1,274.77 early Monday, before easing off gradually to a low of 1,268.82 just ahead of a long three-day Aidiladha weekend break, shrinking further to a 5.95-point trading range last week, compared with the 17.68-point trading range the previous week.
The sell signal in daily slow stochastics for the FBM KLCI is in a late stage with the trigger line falling below the mid-point following last week's profit-taking correction but the weekly indicator has just crossed for a sell with the trigger line dipping below 80, which is the overbought line. The 14-day Relative Strength Index (RSI) has deteriorated to a lower reading below 60 following the bearish divergence signal the previous week, but the 14-week RSI stayed overbought with a reading of 72.72.
The daily Moving Average Convergence Divergence indicator (MACD) is also in a late stage sell signal, but the weekly MACD has crossed for a sell signal which implies further correction ahead. Meanwhile, the ADX line on the 14-day Directional Movement Index (DMI) trend indicator continued to weaken at a lower reading of 30.1 as of last Thursday, with the +DI and -DI lines contracting further, signalling a weakening uptrend.
Conclusion
While daily momentum and trend indicators have been fully neutralised with late stage sell signals suggesting less bearish short-term momentum, fresh sell signals on weekly stochastics and MACD imply that the FBM KLCI is not out of the woods yet. Moreover, the beginning of the year-end school holidays with more fund managers expected to go on their year-end vacations and the absence of year-end window-dressing are likely to cause trading momentum to suffer further as market players wind down positions next month.
Nonetheless, immediate downside cushion remained at 1,267, the 38.2 per cent Fibonacci Retracement (FR) of the rally from the 1,233 pivot low of November 2 to the recent pivot high of 1,288. A confirmed breakdown will see stronger retracement supports at 1,260 and 1,254, the respective 50 per cent FR and 61.8 per cent FR levels being challenged. On the upside, immediate resistance is seen at 1,280, with 1,288 as next upper resistance. Looking ahead, a decisive breakout will see more formidable resistance from 1,305, the April 29 2008 pivot high.
Chart wise, remain cautious on core banking stocks CIMB, Public Bank, AMMB and Maybank, despite their having mostly neutralised their overbought technical momentum after the past two weeks of correction. Nonetheless, further sharp falls will be attractive to bargain as investors should look forward to more upside next year. Besides, the first three core banking stocks are fundamental "buys".
Prepare to nibble gaming stocks Genting Bhd and Genting Malaysia on dips as investors should position themselves for medium-term upside as sentiment improve nearer to the opening of its Resorts World Singapore subsidiary in the first quarter on next year. On lower liners, any further sharp dips on construction stocks MRCB, Tebrau, UEM Land and Zelan will be attractive to bargain hunt for technical rebound ahead, as conditions will turn oversold by then.
The subject expressed above is based purely on technical analysis and opinions of the writer. It is not a solicitation to buy or |
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FBM KLCI tue..turun la lagi..turun lagi... |
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bru tadik g update client....mudahnye nak bg update sbb dia phm konsep...huhu.. |
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Yang ponteng training hari ni, rugi.,....
abg LAT present dengan penuh informative pasal market year end..and cerita Dubai crisis.... |
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bru tadik g update client....mudahnye nak bg update sbb dia phm konsep...huhu..
pojikun85 Post at 1-12-2009 17:36
Clients kau akan paham lagi bila tengah menaik ni.... |
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FBM KLCI tue..turun la lagi..turun lagi...:C
amirul_nazri Post at 30-11-2009 16:29
Nak hang seng turung,,,,tapi hampeh...naik pulak dia.. |
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Kerja kami bukan bermusim – Yusli
PENURUNAN bilangan pelabur asing memasuki pasaran tempatan dilihat sebagai membimbangkan. Ini diakui oleh Ketua Pegawai Eksekutif Bursa Malaysia, Datuk Yusli Mohamed Yusoff.
Menurut beliau, amalan perhubungan pelabur (IR) boleh menjadi antara kaedah untuk menarik pelabur-pelabur asing yang kini beralih arah ke China dan Indonesia.
Katanya, tidak banyak syarikat besar tempatan mengamalkannya dalam usaha menjadikan mereka lebih menarik kepada pelabur asing yang kini mencari saham-saham berpotensi di Asia untuk dilabur.
‘‘Kita sebenarnya tidak kurang dengan syarikat berpotensi dan kini berkembang di peringkat serantau,
‘‘Tugas mempromosikan pasaran tempatan bukan hanya di bahu kami sahaja..Ia perlu dilihat secara menyeluruh iaitu bagaimana industri beroperasi,’’ kata beliau kepada wartawan Utusan, MOWARDI MAHMUD, AINUL ASNIERA AHSAN dan CYNTHIA YEOH dalam satu pertemuan di Kuala Lumpur.
Yusli juga berkata, Lembaga Pengarah dan pengurusan tertinggi syarikat tempatan adalah pihak yang perlu memainkan peranan utama menggalakkan IR. |
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sambungan..
Dalam pertemuan itu, Yusli turut membicarakan tentang prestasi semasa bursa, masalah yang dihadapi dan usaha yang dilakukan untuk mengembalikan semula kerancakan urus niaga dalam pasaran saham.
UTUSAN: Bagaimana Datuk melihat prestasi semasa pasaran saham tempatan?
YUSLI: Pada saya, gambaran yang boleh diberikan adalah tidaklah memberangsangkan tetapi tidaklah buruk sekali. Pelaksanaan tawaran awam permulaan (IPO) Maxis Bhd., salah sebuah syarikat telekomunikasi terkemuka tempatan, memberikan impak yang baik kepada pasaran tempatan. Kami turut menerima beberapa cadangan bagi IPO tahun depan.
Apakah masalah yang dihadapi pasaran sekarang berikutan krisis kewangan sejagat?
Pasaran saham tempatan berdepan dengan masalah pelabur-pelabur asingnya kehilangan minat untuk melabur. Penurunan yang ketara ini berlaku sejak pilihan raya lalu dan keadaan itu didapati masih belum lagi pulih. Ini merupakan satu perkara yang membimbangkan. Bagaimanapun, dalam satu aspek yang lain, saya ingin memuji tindakan kerajaan kerana melaksanakan langkah-langkah liberalisasi seperti mana diumumkan sebelum ini. Ia merupakan satu pengumuman yang positif, biarpun belum lagi nampak hasilnya, mungkin masih baru lagi.
Datuk ada menyebut tentang IPO baru tahun depan, berapa banyak yang disasarkan?
Susah hendak kami jangkakan, di dalam persekitaran ekonomi yang biasa, kami selalunya menerima antara 30 hingga 40 cadangan IPO. Namun begitu, kami bukan mengejar kepada bilangan tetapi sebaliknya saiz dan kualiti IPO itu sendiri. Kalau boleh, kami mahu saiz IPO yang besar, sekurang-kurangnya dengan modal pasaran yang bernilai RM1 bilion. Dalam hubungan ini, saya berpendapat adalah lebih baik menerima hanya 10 hingga 20 IPO bersaiz sederhana berbanding 100 IPO bersaiz kecil. Pasaran tempatan mementingkan saiz bukan kuantiti IPO tersebut. Untuk IPO pihak asing pula kami hanya menyasarkan lima hingga 10 IPO sahaja. Jumlah ini, sudah pun cukup baik.
Berbalik kepada persoalan hilangnya minat di kalangan pelabur asing, kenapa begitu?
Faktor utamanya adalah wujudnya persaingan. Rantau Asia menawarkan banyak peluang-peluang pelaburan khususnya di Asia Pasifik. Sekiranya pelabur mahu melabur tentunya pasaran yang lebih besar menjadi tumpuan mereka seperti China. China bukan sekadar memiliki pasarannya yang besar tetapi juga memiliki banyak syarikat-syarikat berpotensi berbanding Malaysia. Malah, boleh dikatakan Indonesia juga menjadi pesaing kepada Malaysia kerana jumlah penduduknya yang besar dan mempunyai potensi cukup baik pada masa depan. Inilah punca Malaysia semakin kurang daya tarikannya. Meskipun begitu, Malaysia sebenarnya masih lagi memiliki banyak syarikat yang tidak kurang hebat prestasinya, kini berkembang di pasaran serantau.
Apa kurangnya kita sehingga berlaku sedemikian?
Daripada aspek polisi kita menawarkan pakej yang baik dan lengkap, kita mempraktikkan tadbir urus, memiliki rangka perundangan yang melindungi para pelabur dan polisi pengagihan dividen yang bagus. Bagaimanapun, dalam aspek lain, apa yang perlu kita ketahui bahawa pelabur asing datang ke Asia mahu mencari syarikat-syarikat besar dan juga potensi pertumbuhan di rantau ini. Malangnya, pasaran kita pula mempunyai lambakan syarikat-syarikat kecil menjadikan pilihan yang boleh ditawarkan begitu terhad. Pelabur-pelabur luar memiliki pelbagai selera, ada antara mereka (jika melabur) mahukan pulangan yang stabil, ada yang menumpukan pertumbuhan dan juga melihat pengagihan dividen. Oleh sebab itu, pasaran kita perlu menawarkan ‘menu’ yang pelbagai kepada pelabur. Apa yang saya lihat adalah selera pelabur kini lebih tertumpu kepada melabur dalam syarikat besar, inilah kekurangan kita.
Bagaimana usaha Bursa Malaysia mengatasi masalah ini?
Kami secara berterusan telah mempromosikan pasaran dan profil syarikat-syarikat tempatan secara agresif dalam usaha menarik perhatian pelabur asing. Kerja ini tidak dilakukan secara bermusim seperti buat setahun kemudian rehat.
Tetapi, ada pihak mendakwa Bursa Malaysia tidak bersungguh- sungguh mempromosikan pasaran tempatan?
Tugas ini sepatutnya bukan hanya diletak pada bahu kami sahaja. Ia perlu dilihat secara menyeluruh iaitu bagaimanakah industri ini sepatutnya beroperasi. Tanggungjawab utama Bursa Malaysia adalah menyediakan platform untuk penyenaraian dan juga urus niaga. Ia adalah memenuhi keperluan mereka yang mahu membuat penyenaraian dan juga pelabur yang mahu melabur. Kami (Bursa Malaysia) perlu juga mempromosikan pasaran secara keseluruhannya, bukan hanya syarikat-syarikat tertentu. Selain bursa, broker saham, peniaga dan penganalisis juga mempunyai peranan. Penganalisis menyediakan laporan penyelidikan dan mengesyorkan saham perlu dibeli atau dijual. Peniaga dan broker pula mempromosi saham.
Jadi apakah sebenarnya masalahnya?
Sebenarnya, syarikat-syarikat tempatan juga perlu mempunyai dan mempraktikkan amalan perhubungan pelabur (IR), kepada pelabur-pelaburnya dan juga media tentang perniagaan yang dijalankan. Syarikat ini perlu memainkan peranan utama dalam memperkenalkan dirinya dan merancakkan lagi urus niaga di pasaran. Setiap syarikat penting sekali mempunyai aktiviti IR yang tersusun.
Bukankah tugas itu dipikul oleh penganalisis pasaran?
Penganalisis pasaran pada kebiasaannya akan memberi maklumat mengenai prospek perniagaan sesebuah syarikat. Daripada maklumat itu, mereka sepatutnya mampu menimbulkan persepsi kepada para pelabur. |
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Category: Belia & Informasi
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Author
Post time 28-11-2009 08:02 AM
harap saper2 leh nolong...
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