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ShangHai SSE mkt lead US DJ ??
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ericsim
Senior |
19-Aug-2009 21:24
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correction??? drop abt 20% within 10 trading days, something is damn not right. This correction going for another 10days - imagine everyone will be looking for green & long grass to eat liao | ||||
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dealer0168
Elite |
19-Aug-2009 20:47
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Garner Says China Stock Pullback Probably `Corrective' | ||||
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dealer0168
Elite |
19-Aug-2009 20:09
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Stocks Fall as China Slumps; Commodities Drop, Yen, Bonds Rise By Daniel Hauck Aug. 19 (Bloomberg) -- China’s stocks dropped, briefly dragging the benchmark index into a so-called bear market and triggering declines in equities and commodities worldwide. The yen and Treasuries rose as investors sought less risky assets. The MSCI World Index of 23 developed nations sank 0.4 percent at noon in London and futures on the Standard & Poor’s 500 Index slid 0.8 percent. China’s Shanghai Composite Index slumped as much as 5.1 percent, extending its drop from a 2009 high to more than 20 percent, the common definition of a bear market. Copper fell 2.5 percent. The yen strengthened against all 16 of the most-traded currencies tracked by Bloomberg and the pound weakened. The 10-year Treasury yield dropped to its lowest level since July 14. The U.S. and Chinese governments pledged more than $13 trillion to combat the worst financial crisis since the Great Depression, helping to fuel a nine-month rally in the Shanghai Composite that pushed the index’s price-to-earnings ratio to almost double the valuations for the S&P 500, according to data compiled by Bloomberg. Earnings for Chinese companies that reported since July 8 have trailed analysts’ estimates by 12 percent on average, Bloomberg data show. “The focus of global markets is what’s happening in China,” said Bartosz Pawlowski, a London-based emerging-markets strategist at BNP Paribas SA. “China will have to remove liquidity from the market, and it’s likely that commodities will suffer and it means worse sentiment towards risk in general.” Declining Loans The Shanghai Composite lost 4.3 percent today as Maanshan Iron & Steel Co. tumbled 7.5 percent. The company posted a half- year loss for the second consecutive period as the global recession curbed demand from homebuilders and automakers. The Shanghai gauge stands at less than half its record level in October 2007. Stocks have slumped as new loans in July declined to less than a quarter of June’s level and companies including Yunnan Copper Industry Co. reported losses. The gauge is still 53 percent higher for the full year. China’s stock market has foreshadowed moves in global equities the past two years. It peaked on Oct. 16, 2007, two weeks before the MSCI All-Country World Index. The Shanghai index fell 72 percent from its 2007 high and bottomed on Nov. 4, 2008, four months before the MSCI index. The Chinese measure reached its 2009 high on Aug. 4, seven trading days before the global index. The Dow Jones Stoxx 600 Index of European shares retreated 0.9 percent today. A 42 percent rebound since March 9 has driven the regional measure’s valuation to 40.2 times the profits of its companies, near the most expensive level since 2003, weekly data compiled by Bloomberg show. Alcoa, Hewlett-Packard U.S. index futures pared some of their declines after Deere & Co., the world’s largest maker of agricultural equipment, reported earnings that beat analysts’ estimates. Deere rose 2.3 percent. Alcoa Inc., the largest U.S. aluminum producer, slid 4.6 percent in pre-market New York trading. Aluminum, copper, lead and nickel dropped in London and Goldman Sachs Group Inc. downgraded the company’s shares to “neutral” from “buy.” Hewlett-Packard Co. slipped 1.9 percent in pre-market New York trading after the company’s fourth-quarter revenue forecast indicated that lower computer prices are eating into sales. Revenue this quarter will grow about 8 percent from the previous three months, Hewlett-Packard said yesterday, suggesting sales of about $29.6 billion. Analysts in a Bloomberg survey predicted $29.8 billion on average. Emerging Markets The MSCI Emerging Markets Index dropped 0.7 percent and headed for its lowest closing level since July 22. India’s Bombay Stock Exchange Sensitive Index lost 1.5 percent, while Indonesia’s Jakarta Composite index fell 2.5 percent. Hungary’s forint led declines in east European currencies against the euro as the tumble in Chinese shares prompted investors to sell emerging-market assets. Copper for delivery in three months fell 2.5 percent to $5,928 a metric ton on the London Metal Exchange. Crude oil retreated 0.6 percent to $68.81 a barrel in New York. China is the world’s second-largest oil user. Investors are concerned that governments and their central banks will struggle to withdraw stimulus packages that have eased the global economic recession. “Enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects,” billionaire Warren Buffett said. Pacific Investment Management Co., which runs the world’s biggest bond fund, said the dollar will weaken as the U.S. pumps “massive” amounts of money into the economy. Treasuries, King, Cameron Treasuries advanced as investors sought the relative safety of U.S. bonds, driving the yield on the 10-year note 7 basis points lower to 3.44 percent. The two-year yield dropped 5 basis points to 0.98 percent. The Federal Reserve is scheduled to buy Treasuries due from February 2020 to February 2026 today, part of its plan to cap consumer borrowing costs, according to its Web site. The yen strengthened most against the pound after minutes of the Bank of England’s Aug. 6 meeting showed Governor Mervyn King wanted a larger increase in the central bank’s asset- purchase program. The dollar rose versus all 16 major currencies tracked by Bloomberg except the yen. The cost of hedging against losses on U.K. government debt rose to the highest in a month after David Cameron, the leader of the opposition Conservative Party, said high borrowing levels put the country at risk of default. Credit-default swaps tied to Britain rose 2 basis points to 62, according to CMA DataVision prices. That compares with contracts on Germany at 26.5 basis points and Portugal at 63.5 basis points, CMA prices show. Mounting Debt The U.K.’s debt burden is the highest since 1976, when it sought an emergency loan from the International Monetary Fund to keep up overseas payments. The Treasury said in April it will borrow 269 billion pounds ($440 billion) more than previously forecast as the recession cuts tax revenue. Confidence in the world economy surged to a 22-month high in August on signs the first global recession since World War II is approaching an end, a Bloomberg survey of users on six continents showed last week. The U.S. unemployment rate dropped in July for the first time since April 2008, data from the Labor Department showed this month. The Organization of Economic Cooperation and Development said today that the economies of its 30 members collectively stopped shrinking in the second quarter as Japan, France and Germany exited recession. The cost of protecting corporate bonds from default jumped to the highest in a month, according to JPMorgan Chase & Co. prices for credit-default swaps. Contracts on the Markit iTraxx Europe index rose 3.25 basis points to 103.25, and the risk gauge has now climbed 23 percent since Aug. 10. |
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ronleech
Master |
19-Aug-2009 16:42
Yells: "Believe in yourself. Ride with the waves......" |
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SSE did it again..... | ||||
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Blastoff
Elite |
19-Aug-2009 15:50
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No problem. We can learn from each other. 
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nickyng
Supreme |
19-Aug-2009 15:32
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gd qn...let's ask him :)
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TuaPekGong9413
Elite |
19-Aug-2009 15:28
Yells: "deity" |
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if not then hulumas congrat u for what? | ||||
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nickyng
Supreme |
19-Aug-2009 15:24
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to ????
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TuaPekGong9413
Elite |
19-Aug-2009 15:22
Yells: "deity" |
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nickyng getting married | ||||
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nickyng
Supreme |
19-Aug-2009 15:19
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for ???
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Hulumas
Supreme |
19-Aug-2009 15:14
Yells: "INVEST but not TRADE please!" |
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CONGRATULATIONS.
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niuyear
Supreme |
19-Aug-2009 15:00
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If China stop buying US's bad-loan, then, US will be in big shit. If China ask them to pay back the debts and guess what? Citigroup becomes China-Citi bank! LOL. That will be the day SSE will be the leader to lead the world.
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lawrenceleebh
Member |
19-Aug-2009 14:55
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Thanks, Blastoff. Am new here. Lots to learn from all of you. | ||||
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Blastoff
Elite |
19-Aug-2009 14:53
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Here is the link http://www.sse.com.cn/sseportal/en_us/ps/home.shtml
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lawrenceleebh
Member |
19-Aug-2009 14:48
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where to see SSE? | ||||
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cyjjerry85
Elite |
19-Aug-2009 14:45
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yes...the Asia powerhouse cannot be held lightly anymore ...it is poise to overtake DJ as the leading indicator...just tt currently it is not leading us in the positive manner only
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nickyng
Supreme |
19-Aug-2009 14:42
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hmm...notice recently mkt situation in SSE seems to be leading DJ and world mkt hor ? :P | ||||
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