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STI to cross 3000 boosted by long-term investors

ongahhuat888
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20-Feb-2013 10:09

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@Gorgeous , I PM you. Pls Check.

GorgeousOng ( Date: 20-Feb-2013 08:16) Posted:

The Economist
Daily chart: Once considered the workshop of the world, China is now the world shopper as well. View today’s live chart on total merchandise trade between America and China revealing that China has overtaken America as the largest importer and exporter of goods. View live chart here: http://econ.st/Y3531X

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Octavia
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20-Feb-2013 08:57

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Changtian Plastic, CJ Fertilizer, RH Energy, Zhongmin Baihui issue warnings

ANOTHER four firms have sounded the warning bells yesterday on expectations of weaker performances for the fourth quarter and full year ended Dec 31, 2012.

Changtian Plastic & Chemical and Changjiang Fertilizer have projected losses for the quarter and RH Energy foresaw a net loss for the full financial year while Zhongmin Baihui Retail warned of a lower profit after tax for the year.

They notified shareholders in filings to the Singapore Exchange after the market had closed yesterday.

Changtian said an impairment charge recorded for its property, plant and equipment and inventories will contribute to a loss for the three-month period. The China-based chemical products maker had posted lower net profits for the three preceding quarters as well.

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GorgeousOng
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20-Feb-2013 08:16

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Peter_Pan
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20-Feb-2013 08:00

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Huat ah.

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tanglinboy
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20-Feb-2013 07:27

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Dow at 5 year month high since crash!

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GorgeousOng
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20-Feb-2013 05:48

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Good morning my friends!Are you ready for an exciting day? Yes! I am! What about you?Today I must snag a 100lb of Marlin not mackerel or tuna hor!:)))) Here you go ...all the marine counters.... Huat Huat Huat!

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Peter_Pan
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20-Feb-2013 02:28

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Obama Pressures Congress for Deal to Avert Automatic Cuts

By Margaret Talev & Roger Runningen - Feb 20, 2013 12:20 AM GMT+0800

President Barack Obama stepped up pressure on Congress to avert “brutal” automatic $1.2 trillion in budget cuts set to kick in March 1, saying it would harm the economy and curtail vital services.

Obama said that if the spending reductions take effect, the U.S. may lose hundreds of thousands of jobs, military readiness would be damaged, aid to state and local governments would shrink and the ability of the government to respond to natural disasters or other emergencies will be diminished.

Enlarge image

U.S. President Barack Obama said today that if lawmakers can’t agree on a broad deal to replace the across-the-board spending reductions, Congress should “at minimum” pass a temporary, smaller package that provides more time for negotiations. Photographer: Brendan Smialowski/AFP via Getty Images

Obama Pressures Congress on Averting Sequestration

12:18

Feb. 19 (Bloomberg) -- President Barack Obama speaks about the need for Congress to avert the automatic $1.2 trillion in budget cuts set to kick in March 1. Obama said if lawmakers can’t agree on a broad deal to replace the across-the-board spending reductions, Congress should “at minimum” pass a temporary, smaller package that provides more time for negotiations. (Source: Bloomberg)

If lawmakers can’t agree on a broad deal to replace the across-the-board spending reductions, Congress should “at minimum” pass a temporary, smaller package that provides more time for negotiations, Obama said today in Washington.

“Nobody should want these cuts to go through,” he said.

By law, the cuts, spread over nine years, would be equally divided between defense and non-defense spending. While both parties agree the cuts may damage the recovery and hamper national security, neither side has shown movement to break the impasse as the deadline nears.

Obama spoke hours after the leaders of his 2010 deficit commission offered a $2.4 trillion plan to reduce the debt. The proposal by Democrat Erskine Bowles, President Bill Clinton’s former chief of staff, and Republican Alan Simpson, a former senator from Wyoming, would accomplish debt savings over 10 years in steps, rather than through one major piece of legislation.

Alternative Plan

Under their plan, one quarter of the deficit reduction would come from health-care changes, including lower payments to Medicare and Medicaid providers and higher Medicare premiums for top earners. Another quarter would come from a rewrite of tax laws that would scale back most exemptions and deductions. Part of the savings would be used for deficit reduction and the rest to reduce income tax rates.

The U.S. economy stalled during the last three months of 2012, marking the worst quarter since the recession ended three and a half years ago, as defense spending tumbled by the most since 1972. Without action by Congress, the across-the-board budget cuts set to begin next month represent another potential drag on the economy.

The president said he would insist on combining higher revenue through the tax code with spending cuts that won’t harm the economy, and cutting alone would hinder growth.

“Deficit reduction is not an economic plan,” he said.

Obama returned to Washington last night after spending the President’s Day holiday weekend playing golf with partners including Tiger Woods at Floridian, a private course and club in Palm City, Florida. Congress is on a recess this week.

Republican Stance

Republicans say they will stand firm in opposing any plan to avert the cuts that relies on revenue to close the budget gaps and they’ve accused Obama of failing to offer specifics.

Senate Republican leader Mitch McConnell of Kentucky, released a statement before Obama spoke accusing the president of engaging in political posturing rather than negotiations.

“Today’s event at the White House proves once again that more than three months after the November election, President Obama still prefers campaign events to common sense, bipartisan action,” McConnell said in an e-mailed statement.

Tax Breaks

Obama has said he wants to curb tax breaks for top earners and change the treatment of profits in buyout deals, known as carried interest. He’s also said he’s willing to work on trimming costs in the Medicare health insurance plan for the elderly by cutting payments to drug companies, raising premiums for the wealthy and changing medical reimbursement procedures.

Senate Democrats have proposed delaying the automatic reductions by 10 months. Their alternative $110 billion plan would cut defense spending, end direct aid payments to farmers and set a minimum income-tax rate on top earners.

The Congressional Budget Office estimates that the automatic cutbacks could subtract 0.6 percent from the gross domestic product’s growth this year, enough to eliminate 750,000 jobs.

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Peter_Pan
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20-Feb-2013 02:13

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STI is about to enter a new bull market.

Tempest ( Date: 20-Feb-2013 01:43) Posted:

Shorties LL diam loh.. Hahaha..

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Tempest
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20-Feb-2013 01:43

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Shorties LL diam loh.. Hahaha..

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Peter_Pan
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20-Feb-2013 00:04

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Charging Ahead...The Dawn of A New Era

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skk888
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19-Feb-2013 23:45

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wah now totally no chanting liao??. very bullish market.. wonder how those who hold short for so long.. finance charge gonna kill and mounting unrealized loss..
just made some small $$ from BAC.. may enter short DJI soon..

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Peter_Pan
Supreme

19-Feb-2013 23:32

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U.S. stocks climb anticipating M& A activity

By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) — U.S. stocks climbed on Tuesday, with sentiment lifted by hopes for a merger between retailers Office Depot Inc. and OfficeMax Inc.

The Wall Street Journal reported Monday, a market holiday, that OfficeMax OMX +25.02% and Office Depot ODP +16.78% were in advanced merger talks, with an announcement possible as early as this week. See more about the reported talks.

After marking a seventh straight week of gains on Friday, the S& P 500 index SPX +0.44% on Tuesday climbed 6.12 points, or 0.4%, to 1,525.91.Shares of both office-supply chains rallied, along with electronics retailer Best Buy Co. Inc. BBY +3.38% after its upgrade to buy from hold by Stifel, Nicolaus & Co.

The Dow Jones Industrial Average DJIA +0.36% rose 53.03 points to 14,034.7

The Nasdaq Composite COMP +0.38% added 8.84 points, or 0.3%, to 3,200.87.

Advancers outran decliners 2-to1 on the New York Stock Exchange, where 97 million shares traded as of 9:45 a.m. Eastern.

At 10 a.m. Eastern, a gauge of homebuilder sentiment is expected to show a rise in February from January.

The men who led President Barack Obama’s 2010 deficit-reduction commission on Tuesday proposed a new plan. Democrat Erskine Bowles and Republican Alan Simpson are calling for steps to cut the deficit by $2.4 trillion during the next decade. Read Politico piece.

The two are pitching their plan as Democrats and Republicans squabbled over how to stop $1.2 trillion in spending cuts scheduled to begin March 1.

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Peter_Pan
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19-Feb-2013 22:10

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Goldman Sachs eases fears of 2013 double-dip recession

February 19, 2013, 7:59 AM

Time to stop worrying about a double-dip recession. Forget lackluster growth readings and depressing surveys, it’s (almost) full speed ahead for the U.S. economy.

That’s the message, more or less, from Goldman Sachs top economist Jan Hatzius, who in his latest note argues that the tail risks for the economy have diminished. And that’s even as the first take on the U.S. economy for the fourth quarter fleshed out thatactivity shrank 0.1% in the final months of 2012, well below expectations.

Recent data on jobless claims, retail and auto sales and manufacturing activity all suggest an earlier acceleration, showing that the world’s largest economy didn’t buckle under the $200 billion tax increasethat took effect in the beginning of the year, Hatzius pointed out.

“But the more important reason is that Republicans in Congress seem to have given up on the idea of using the debt ceiling to force additional spending cuts,” he said. “So the tail risk that the overall fiscal drag will be much larger than the 1½-2 percentage points we assume for 2013, and that this will push the economy below ‘stall speed’ and into a renewed recession, looks much lower now.”

But will the fiscal tail risks re-enter the limelight further down the road? Nope, Hatzius said. The deficit has already fallen from 10% of GDP in fiscal 2009 to 7% in 2012 and is likely to shrink to only 3% in 2015 due to lower spending, higher tax rates and a cyclical improvement in the economy.

“The longer-term budget outlook remains much more problematic, mainly because of the sharp projected increases in federal health care spending. But even in this area we have seen a bit of good news recently, as actual spending has come in well below official projections,” he said.

It’s not all just happy times ahead in the short term though. Goldman Sachs to its view that growth will remain slow in 2013 as tax increases and government spending cuts look set to offset the private-sector improvement. In 2014, however, we can expect a substantial acceleration on the back of a more neutral fiscal policy.

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kingkongdotcom
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19-Feb-2013 20:29

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Market is so bullish, and now only news come out. Here economy positive, there investor confident....bla bla bla. All the economy analyst is the biggest market manipulator to lure the retail investor

Is time for me to cut down my position.

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GorgeousOng
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19-Feb-2013 19:47

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Cucu..hahaaa! ))))

iPunter ( Date: 19-Feb-2013 18:33) Posted:

Cakap ketawa sahaja lah... Zouk mana bagus? Suroh cucu semua jangan pergi disko Tak baik.

GorgeousOng ( Date: 19-Feb-2013 16:08) Posted:

Hahaaa !Zouk tak sesuai kepada orang tua. Saya line dancing sahaja lah!:)))
Hahaaaa! Zouk is not suitable for old folks! I only do line dancing!:))

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Peter_Pan
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19-Feb-2013 19:46

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Obama to apply fresh pressure on Republicans to avoid cuts

By Steve Holland

WASHINGTON | Tue Feb 19, 2013 6:01am EST

(Reuters) - President Barack Obama will make a fresh push on Tuesday to force congressional Republicans to make concessions that will head off budget cuts that appear increasingly likely to kick in starting on March 1.

Obama, just back from a three-day golf getaway in Florida, will appear at the White House at 10:45 a.m. EST (1545 GMT) with emergency responders who would lose their jobs if the cuts go into effect.

A White House official said he would urge Congress to approve a $110 billion tax increase and spending cut plan that would postpone more severe spending cuts set to begin March 1.

If Congress fails to act, about $85 billion in across-the-board spending cuts begin on March 1 and continue through September 30 as part of a decade-long $1.2 trillion budget savings plan.

Half the cuts would be shouldered by the Pentagon and the other half scattered among many other government agencies.

The non-partisan Congressional Budget Office has estimated that, if fully implemented, these cuts would hold back U.S. growth and prevent the creation of about 750,000 jobs this year.

But with Democrats and Republicans far apart on how to avoid the automatic cuts, they are widely expected to go into effect on March 1. In subsequent weeks a replacement measure could be negotiated at the same time Congress works on a deal to fund government agencies that run out of money on March 27.

Obama has been adamant that any budget agreement to replace the cuts reflect a " balanced approach" and include both budget cuts and tax increases.

He wants to raise revenue by eliminating tax loopholes enjoyed mostly by the wealthy.

But Republicans feel they have raised taxes enough after reluctantly agreeing to increase them on the wealthy as part of a deal that avoided the " fiscal cliff" of higher taxes and spending cuts that would have kicked in at the end of 2012.

Republicans want deeper spending cuts to reduce America's $1 trillion annual deficits and $16 trillion national debt.

The White House effort to force Republicans to act is focused on dramatizing just who would lose jobs if the cuts go into effect.

The emergency workers he will appear with on Tuesday are " the kinds of working Americans whose jobs are on the line if congressional Republicans fail to compromise on a balanced solution," said a White House official.

" With less than two weeks before these cuts hit, the president will challenge Republicans to make a very simple choice: do they protect investments in education, health care and national defense or do they continue to prioritize and protect tax loopholes that benefit the very few at the expense of middle and working class Americans?" , the official said.

To give Congress time to act on a long-term solution, Obama will urge congressional Republicans to accept the smaller $110 billion package that Democrats proposed last week.

" The president will urge congressional Republicans to compromise and accept this solution so these devastating cuts that will hurt our economy and middle class families won't hit," the official said.

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GorgeousOng
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19-Feb-2013 19:39

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If I translate in English not so fun lah! I know you can understand a little. Just try to read a few more times sure you will get the joke. Enjoy:)))

iPunter ( Date: 19-Feb-2013 19:04) Posted:

Adui ! Saya pun mahu ketawa juga, tetapi tak faham...

Kak minta boleh tulis lagi di-bahasa Engeris ka?

GorgeousOng ( Date: 19-Feb-2013 18:13) Posted:

After 5pm entertainment :))) enjoy:)
昨天遇见一股友，聊天。

我说 :"最近股市暴跌，我晚上都睡不好，你呢？睡眠质量如何？ "
他说 :"还行，像婴儿般睡眠！ "
我说 :"羡慕死我了。 "
他说 :"是睡一个小时，醒了，哭一会儿，再睡一会。

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Peter_Pan
Supreme

19-Feb-2013 19:29

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Current risk to the rally will be the sequester nearing 1 march. Will there be a solution? We shall watch and see. This is also part of the reason many investors are still sidelined waiting for a big market correction.

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Peter_Pan
Supreme

19-Feb-2013 19:25

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Stock futures edge higher as sequester looms

Home builders’ report due ahead of Wall Street open

By William L. Watts, MarketWatch

FRANKFURT (MarketWatch) — Stock index futures indicated Wall Street was on track Tuesday to pick up slightly above where it left off ahead of a three-day weekend, finding a modicum of support on hopes of a pickup in merger activity.

Upside was limited, though, by concerns over big spending cuts set to take effect in less than two weeks unless politicians take action.

Futures on the Dow Jones Industrial Average DJH3 +0.13% rose 25 points, or 0.2%, to 13,973, while S& P 500 Index futures SPH3 +0.13% gained 2.1 points to 1,519.20.

Click to Play

Grading colleges by student debt

The U.S. Government is supplying new data to help prospective students figure out which colleges offer the best bang for the buck. Image: Getty

Nasdaq 100 futures NDH3 +0.19% gained 4.25 points to 2,765.50.

U.S. markets were closed Monday for the Presidents Day holiday.

“There is no real negotiation between Democrats and Republicans on a compromise and the beginning of the sequester on March 1, therefore seems to be inevitable,” wrote strategists at futures brokerage R.J. O’Brien in Chicago.

The sequester refers to an estimated $85 billion in spending cuts that will otherwise take place from March through September, carrying the potential to slice into U.S. growth and raise unemployment. See: J.P. Morgan cuts GDP forecast on sequester fears.

“Once the spending cuts hit, Republicans and Democrats will assess the extent of the stock market damage and any public outcry at defense industry layoffs, furloughs of government workers, and cuts in services for services such as meat inspections and flight controllers,” with the reaction shaping prospects for compromise, the R.J. O’Brien strategists said.

Investors will be watching shares of two major office-supplies retailers. According to The Wall Street Journal, Office Depot Inc. ODP +2.00% and OfficeMax Inc. OMX -1.29% are in advanced discussions to merge. See: OfficeMax, Office Depot mull merger: WSJ .

“After lying dormant for a while as corporate executives focused on survival, animal spirits are in evidence with some $140 billion worth of M& A deals announced in February,” said Gary Jenkins, director of Swordfish Research, a credit-research firm.

While many smaller companies still find it difficult to borrow, “ the fact is if you can access funds then you can do so at a historically low rate of interest. This restoration of confidence has given equity markets a boost in spite of the rather woeful economic data,” he said.

Investors face a light economic calendar Tuesday that features only the National Association of Homebuilders February index at 10 a.m. U.S. Eastern. Economists surveyed by MarketWatch expect it to rise to 49 from a level of 47 in January.

Wednesday will bring data on January housing starts, producer prices and the minutes of the Federal Reserve’s latest policy meeting, while Thursday features the Consumer Price Index for February and weekly jobless claims. See: Economy, like battleship, plods forward .

European shares gained ground, with the Stoxx 600 Europe index XX:SXXP +0.61% up 0.6%. Read about European stocks .

The German ZEW economic expectations index in February posted a stronger-than-expected rise, hitting its highest level since April 2010. See: German Feb. ZEW expectations index rises .

Stocks in Hong Kong and Shanghai slumped Tuesday after local Chinese government entities imposed further restrictions on home purchases, while Japanese shares retreated after the country’s finance minister denied Tokyo was considering purchases of foreign bonds. See: Shanghai, Hong Kong stocks slide .

ReutersEnlarge Image

President Barack Obama, left, and House Speaker John Boehner

Before Wall Street opens on Tuesday, Medtronic Inc. MDT -0.11% , the Minneapolis medical-technology major, will report for its fiscal third quarter. A survey of analysts by FactSet produced consensus estimates of profit of 91 cents a share on revenue of $4.03 billion.

Also reporting after Wall Street finishes regular trading is Herbalife Ltd. HLF +1.23% . The Los Angeles nutritional-products maker, the subject of a trading dispute between the hedge-fund manager William Ackman and the takeover investor Carl Icahn, is expected to report fourth-quarter profit of $1.03 a share on revenue of $1.05 billion.

Computer-maker Dell Inc. DELL +0.73% is also slated to report earnings after the bell, with analysts surveyed by FactSet producing a consensus estimate of 39 cents a share. the company is in the process of executing a $24 billion plan to go private, but is facing growing resistance from big shareholders.

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Peter_Pan
Supreme

19-Feb-2013 19:08

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At Last, China Bulls Are Having Moment in the Sun

Published: Tuesday, 19 Feb 2013 | 1:37 AM ET

By: Katie Holliday I Writer CNBC Asia

Keren Su | China Span | Getty Images

The long awaited recovery in Chinese stocks is here to stay, with the Shanghai Composite Index building on the surge seen late last year. Now analysts are expecting it to rally further, up to 30 percent in the Year of the Water Snake.

Until December, when the market jumped over 14 percent, it had been a disappointing year for Chinese equities with the Shanghai index touching lows not seen since the financial crisis, as concerns over slowing growth in the world's second largest economy hit investor sentiment.

But as 2012 came to a close the market erased earlier losses posting a more than 3 percent gain for the full year on improving economic data. Since the start of 2013 stocks have rallied 7 percent and analysts tell CNBC that the China bulls' time in the sun is going to last.

30 Percent Pop

Kerry Series, founder and CIO of Eight Investment Partners, said the Chinese stock market should be trading at 30 percent above its current value by the end of 2013.

(Read More: How to Trade a Chinese Recovery)

" The fact is that China's growth is reaccelerating. We think the average Asian stock market ought to rise, or needs to rise, by 20 percent to get to the long-term average valuation. In China's case we think it ought to rise by more than that, so we could easily see a rise of 30 percent in Chinese stocks generally," Series told CNBC's" Cash Flow" on Tuesday.

Encouraging economic indicators have emerged from China since the start of the year, after government official data showed growth had picked up to 7.9 percent in the final quarter of 2012, up from 7.4 percent in the previous quarter. The leadership transition has also fueled hopes of much anticipated market reform and the opening up of the market to more foreign investment.

(Read More: China's New Leader - Harbinger of Reform?)

Ryan Tsai, senior investment analyst at Coutts, told CNBC's Asia " Squawk Box" that he expected a further rally on the China's stock market of up to 20 percent. His bullish outlook was based on an improving economic outlook and reasonable stock valuations.

Chinese stocks are currently trading at around 12.2 times price to earnings, compared to Hong Kong's little under 12 times and Japan's 19.2 times.

" We expect 15 -20 percent upside by the end of the year. The Shanghai Composite could hit between 2,800 and 3,000," said Tsai. The index was trading around 2,390 by mid-day on Tuesday.

Philip Chan, Chinese equity strategist at Shenyin Wanguo Securities, said a " 20 percent pop" within 2013 was not impossible, but added it was important to highlight that the Shanghai Composite has already seen a good run.

" The market is already up 22 percent on its early December low," said Chan. " However, I would say a 20 percent pop is still possible. Markets are focused on two crucial NPC [National People's Congress] meetings in March, where some incremental policy changes - such as policies to promote alternative energy, or the financial markets, could have the potential to provide a boost to markets," he said.

" Policies could be introduced to help consolidate the overcapacity in solar energy panel market, for example, or there could be policies which explain more about future changes to the Hukou system [the government's household registration system], which will have implications on land/property and therefore on downstream sectors related to property," he added.

China's new leadership led by Xi Jinping will also take official charge in mid-March. The positive impact of the leadership change has already been priced into Chinese stocks, said Chan, but the announcement of policy details could still move markets.

Shanghai Composite 1 Year Performance

How to Play the Rally

Chinese equity strategists are focusing on cyclical stocks to play the uptick in the market. " Cyclicals, such as copper, steel, oil & gas will all do well. Lots of cyclical stocks are related to the property sector. So if the property sector continues to do okay, which is broadly expected, these sectors will also do well," said Chan.

Coutts' Tsai also backed cyclicals including financials: " The big theme this year, at least for the first-half, is we want to be overweight cyclical sectors. We are not structurally positive on banks but we see the economy improving and banks are the way to play that," he said.

Tsai said the largest downside risk to China's growth this year would be if the government moved to tighten its monetary policy sooner than expected.

" This would be because of a rise in inflation and in property prices. That would lead the policymakers to want to tighten," said Tsai.

Last year China's central bank cut interest rates in June and July and has also eased monetary policy by lowering reserve ratio requirements for banks three times since November 2011.

Chinese inflation eased to 2 percent in January, down from a seven-month high in December of 2.5 percent. Consumer prices have fallen steadily from a high of 6.5 percent in July 2011.

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