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STI to cross 3000 boosted by long-term investors
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Sgshares
Elite |
01-Dec-2011 14:47
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DATA SNAP: Swiss Economic Growth Slows In 3Q As Franc Hits Exports ZURICH (Dow Jones)--Switzerland's economy slowed in the third quarter, as the strong Swiss franc's drag on exports outweighed solid domestic consumption, data released Thursday showed. Gross domestic product expanded 0.2% in the third quarter from the previous three months and 1.3% from the same period a year earlier, the State Secretariat for Economic Affairs, or Seco, said. The data compared with economists' forecasts for quarterly growth of 0.1% and an annual expansion of 1.7%. In the second quarter, the Swiss economy expanded a revised 0.5% from the preceding quarter and 2.2% from a year earlier. " Positive growth impulses were generated by private and government consumption as well as by construction investment," Seco said. " By contrast, declining exports and fixed asset investments had a negative impact on GDP growth," it said. Swiss exports, excluding precious metals and jewels, declined 0.9% in the third quarter, while sales of precision instruments and timepieces only edged " slightly lower" , it said. The Swiss National Bank has long warned of slowing economic momentum, and said in September growth could come to a standstill in the second half of the year. SNB Vice President Thomas Jordan said in a newspaper interview Sunday that the economy faces a difficult period, and possibly even a contraction in GDP. Most analysts expect the Swiss economy to stagnate at best in the final quarter of the year, with a mild contraction in GDP in the first quarter of 2012. Seco, which currently forecasts GDP growth of 1.9% in 2011, slowing to 0.9% next year, is scheduled to update its growth and inflation estimates on Dec. 13. -By Neil MacLucas, Dow Jones Newswires +41 43 443 8046 neil.maclucas@dowjones (END) Dow Jones Newswires December 01, 2011 01:45 ET (06:45 GMT) |
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Isolator
Supreme |
01-Dec-2011 14:33
Yells: "STI is hard landing to below 2000..." |
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One must know intentional pump can only last awhile..... hmmm.... | |||||||||||||||||||||||
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belgeran
Veteran |
01-Dec-2011 14:19
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oo.. and what's ipunter sifu's view of tonight's Dow? =D
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iPunter
Supreme |
01-Dec-2011 13:52
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Tomorrow, the STI will take its cue from tonight's Dow closing...  |
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Sgshares
Elite |
01-Dec-2011 13:42
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Asian Manufacturing Weakens, Raises Concerns About Region's Resilience -- Chinese manufacturing contracts for first time in almost three years, the official PMI shows -- Industrial activity also weakens in Australia, South Korea and Taiwan By Natasha Brereton-Fukui Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Manufacturing activity in China shrank in November for the first time in nearly three years, while output elsewhere in Asia also softened, raising questions about the region's ability to drive the global economy amid sluggish demand from the West. The disappointing data come hot on the heels of Beijing's decision Wednesday to cut banks' reserve requirement ratio for the first time in nearly three years, a move analysts say could mark the beginning of a sustained monetary-easing campaign. A Purchasing Managers Index released Thursday by China's government dropped to 49.0 in November from 50.4 in October, worse than the 49.7 forecast and entering contractionary territory for the first time since February 2009. A separate China PMI produced by HSBC and Markit, which fell to 47.7 in November compared with 51.0 in October, was the weakest since March 2009 and supported the bearish view on the region's powerhouse. " The November PMI suggests that China's industrial activities are already heading for a major downturn," Daiwa Capital Markets economist Mingchun Sun wrote in a research note. " Although policymakers have officially changed the tone from tightening to loosening, we believe the slowdown is likely to accelerate in the coming months as it takes time for policy loosening to show its positive impact on the economy." Other analysts said China would avoid a hard landing by taking the necessary monetary and fiscal policy steps. Signs elsewhere in the region were also less than upbeat. In South Korea, manufacturing activity contracted for a fourth straight month in November and at a faster pace than in October, with the HSBC PMI falling to 47.1 from 48.0. Taiwan's manufacturing activity also continued to soften in November, albeit at a slightly slower pace. The HSBC PMI edged up to 43.9 from 43.7 in October. In both countries, the contraction in activity reflected declines in domestic and export orders. Australian manufacturing activity softened but the decline slowed, with the Australian Industry Group/PricewaterhouseCoopers manufacturing index rising to 47.8 in November from 47.4 in October. -By Natasha Brereton-Fukui, Dow Jones Newswires +65-6415-4044 natasha.brereton-fukui@dowjones.com --Aaron Back, In-Soo Nam, Aries Poon and James Glynn contributed to this item. (END) Dow Jones Newswires November 30, 2011 23:54 ET (04:54 GMT) |
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settowin
Veteran |
01-Dec-2011 13:38
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3% from prev clse is 81 points. Now STi is 64.5 points, so can say can argh. Watch it close above 100 points today. Hopes are high for those who are holding positions,and smart shortists would have closed most positions, I think.
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jo3yloh
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01-Dec-2011 12:30
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the greeks are selfish..can understand why they are angry. but they're not thinking abt the bigger picture.. if the government continues to be nice, the country falls out of euro and the whole country will go down, instead of that few.
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louis001
Master |
01-Dec-2011 12:09
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DOW up 4.24%...... HSI now hit 5.8%, up 1000+pts.... the BIG question is can STI hit up 3% today ??? now...2771 at 2.6%...... |
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Sgshares
Elite |
01-Dec-2011 12:07
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Greece's New Government Faces Challenge As Unions Strike ATHENS (AFP)--Greece's new government will see its resolve tested Thursday as unions take to the streets against the latest austerity cuts demanded by its European peers in return for funds to keep the country afloat. Thursday's general strike, the sixth this year, would shut down public services, disrupt train and ferry services and see state hospitals on emergency staffing levels. The protests, likely to see a set-piece stand-off in central Athens between riot police and demonstrators, follow similar strikes across Europe as opposition grows to spending cuts and tax increases introduced by governments fearful of getting sucked into the euro-zone debt quagmire. The two top unions, private-sector GSEE and the civil service ADEDY, say they are fighting to avoid more of the same. " There must be no illusions, austerity will continue in 2012 and so will our mobilization because insecurity and the threat of unemployment persist," GSEE chairman Yiannis Panagopoulos said. During two days of protests last month, Athens saw violent clashes between the police and demonstrators and then between communist and union protesters in and around central Syntagma Square. Police said 70,000 took part in that demonstration while unions claimed 200,000 but on Thursday the protests are expected to be smaller, with people knowing that elections are due to be held early next year. The new coalition government, headed by former European Central Bank vice president Lucas Papademos and in power since only Nov. 11, is pressing ahead with more spending cuts and tax hikes to try and balance the public books. The cabinet now includes members of the opposition conservative and far-right nationalist parties who previously attacked economic reforms agreed with the EU, the ECB and the International Monetary Fund in return for bailout funds. The coalition partners have pledged, however, to support the measures which go to a vote--and are expected passage--in parliament just before another euro-zone debt crisis summit in Brussels on Dec. 8-9. GSEE and ADEDY, officially with a million members, have held over a dozen general strikes in the last two years as Greece, saddled with a EUR350 billion debt mountain, has struggled to keep its head above water. " Greece is the guinea pig and Europe's legal and political culture is being put to the test," ADEDY chairman Costas Tsikrikas said. Civil servants, once considered among the country's luckiest job holders, have suffered wage cuts of 40%-50% since May last year, Tsikrikas said. The ranks of the unemployed--already at over 800,000--would swell further under a plan to oust 150,000 civil servants by 2013, he said. A first wave of state redundancies hit this week with 20,000 civil servants nearing retirement told to clear their desks. " This is a cursed day for the public service and state employees...We are determined to fight to overcome these barbaric policies," the union said. (END) Dow Jones Newswires November 30, 2011 22:58 ET (03:58 GMT) |
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Sgshares
Elite |
01-Dec-2011 12:03
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HONG KONG (MarketWatch) — Rival manufacturing surveys released Thursday
confirmed manufacturing activity in China slipped into contraction in
November, with the grim conditions now seen as pushing Beijing towards
monetary-policy easing to support growth.
China cuts reserve requirement to boost economyBeijing reverses some of its recent increases in bank reserve requirements. While not a surprise, it does suggest that China is now worried about global growth too. Both survey results printed below the key 50 level that separates contraction from expansion, with HSBC’s result the weakest since March 2009, while the CFLP’s PMI was negative for the first time since February 2009. Manufacturing output and new business orders were down sharply, while both input and output prices were falling at their fastest pace since March 2009, HSBC’s survey found. Optimism checkIHS Global Insights China analyst Alistair Thornton said the result showed the Chinese economy was slowing much faster than had been expected, and that the cooling would be seen in weaker industrial production figures for November and slowing gross domestic product growth in the fourth quarter. “This should provide a check on yesterday’s unbridled optimism in global markets,” Thornton said. He linked the downbeat PMI reading to the central bank’s easing of required reserves for major lenders late Wednesday, saying: “The government has stepped into the ring. The loosening campaign has begun.” HSBC economist Hongbin Qu also saw the data suggesting a reversal in Chinese policy, saying: “Growth is set to overtake inflation as Beijing’s top policy concern. This is likely to invite an across-the-board policy easing, which is likely to come as early as year-end.” However, the HSBC survey did have a few bright spots, with new export business received by manufacturers picking up in November, while overall employment numbers rose fractionally. |
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belgeran
Veteran |
01-Dec-2011 11:48
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oo... ipunter sifu, seems like there's some more juice to squeeze in HSI.. | |||||||||||||||||||||||
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louis001
Master |
01-Dec-2011 11:23
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risktaker
Supreme |
01-Dec-2011 10:51
Yells: "Sometimes you think you know, but in fact you dont" |
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We are looking at some china related counters as CHINA started lossen its monetary policy..... Why are you so concern with the past figures ? What we are concern is future figues - whats going to happen next when China start lossen and when other central banks pump liquidity into the system :) However our main concern is PLAN from EURO ZONE on their debt issue. Which we will likely to hear from them next week since the whole are joining forces to prevent another major crisis .. i am more likely on the positive note. We are looking at some undervalue penny stocks that have been hammered.... Good Luck if you manage to spot them.
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Sgshares
Elite |
01-Dec-2011 10:39
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China's official PMI falls to contractionary 49.0 |
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Sgshares
Elite |
01-Dec-2011 10:38
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HSBC China PMI falls to 47.7 vs. 51.0 Oct. reading |
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EdwardLiu
Senior |
01-Dec-2011 10:04
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CHINA'S official Purchasing Managers Index fell to 49 in November compared with 50.4 in October, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, said in a statement today The decline is likely to intensify market concerns about a slowdown in the world's second-largest economy, with the index falling into contractionary territory for the first time since February 2009, when the Chinese economy was reeling from the effects of the global financial crisis Meanwhile, the input prices subindex, an indicator of inflationary pressure, declined to 44.4 from 46.2 in October. CFLP analyst Zhang Liqun said in a statement that though growth is likely to keep moderating, " there won't be a large downturn" . |
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jo3yloh
Member |
01-Dec-2011 09:56
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sifu...still can oooooooomphh? ltr hsbc de pmi report come out i abit scared leh.
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Isolator
Supreme |
01-Dec-2011 09:49
Yells: "STI is hard landing to below 2000..." |
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Already reach limit for Ooooomph.... Take care.... lol | |||||||||||||||||||||||
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Sgshares
Elite |
01-Dec-2011 09:15
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LOS ANGELES (MarketWatch) -- China's manufacturing contracted slightly in October, according to a government-sponsored survey released Thursday. The China Federation of Logistics & Planning reported its manufacturing Purchasing Managers' Index fell to 49.0, below the previous month's 50.4 reading and less than the 50 level that separates contraction from expansion. The result missed a 49.7 forecast from a Dow Jones Newswires survey. A private-sector version of the manufacturing PMI was due out from HSBC later in the day. | |||||||||||||||||||||||
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iPunter
Supreme |
01-Dec-2011 09:12
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There's much Ooooooooomph! ... |
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