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Japan govt says economy at standstill
TOKYO
In a monthly report, the government downgraded its assessment of the economy for the first time since Feb 2009. A senior Japanese official said further pressure on the economy, which is mired in stubborn deflation, could tip it into recession.
“If the economy turns out as expected in our main scenario, we may end up describing the current situation as a soft patch,” said the official at the Cabinet Office, which compiled the report. “But if it comes under further downward pressure, it could end up slipping into recession,” he said.
The government also cut its view on exports and industrial output, saying they were weakening,
which prompted the downgrade of its overall economic assessment.
A rise in the yen to a 15-year high against the dollar added to these woes.
Faltering recoveries from the global financial crisis in developed economies have pushed global investors into emerging markets in search of higher returns, driving up their currencies.
The move has been exacerbated by widespread expectations that the United States Federal Reserve will print billions of dollars to try to lift the US economy, sparking concerns that the extra liquidity will find its way into emerging markets.
Japan’s policymakers had earlier prompted the government to draw up a supplementary budget and the central bank to offer cheap loans and to promise to buy assets.
The government said it wanted the Bank of Japan to support the economy through “appropriate and flexible” monetary policy while the two branches work closely together — phrasing it used when it announced ¥5.05 trillion ($$80 billion) in stimulus spending on Oct 8.
The currency tensions will dominate a Group of 20 finance ministers’ meeting in South Korea starting on Friday and a G20 summit in November, as officials look to tackle the economic imbalances and the threat of competitive currency devaluation.
“Currencies will be the topic that many people will be talking about ... at the G20. I hope that good ideas will be put forward there and we will explain the present situation in Japan,” Finance Minister Yoshihiko Noda said.
Japanese Prime Minister Naoto Kan said yesterday he wants to implement stimulus measures as quickly as possible to support the expansion of the economy.
— Japan’s government said yesterday the economy was now at a standstill, highlighting the growing gulf between developed and emerging countries at the heart of global currency tensions.AGENCIES
yeah.. 2molo might be a gd day to short this counter.. :) ..well.. the ball is round.
nickyng ( Date: 19-Oct-2010 20:10) Posted:
ahem...looks like this burger is due for my GRAND entry....tomor break 2.35 will be time to SHORT AHH !! :P
teeth53 ( Date: 19-Oct-2010 19:29) Posted:
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2nd trading day. Traded to a high of $2.33c, a low of $2.17c and closed of at $2.29ct
| GLP |
CPF |
|
2.190 |
2.290c |
+0.120c |
+5.5% |
Volume-262,399,000 |
Mid-day closing and afternoon opening trade
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have fun? better think carefully... before get your fingers burn! good luck!!
chris168 ( Date: 19-Oct-2010 23:19) Posted:
Looking good ... tomorrow can sell liao. LOL I happened to fall on the 4% who didn't get alloted any!!
Still, pretty happy with the open market purchase and the rise today.
Nicky is waiting at the sideline getting ready to shoot it down?? Hehe let the man has his fun ... |
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Looking good ... tomorrow can sell liao. LOL I happened to fall on the 4% who didn't get alloted any!!
Still, pretty happy with the open market purchase and the rise today.
Nicky is waiting at the sideline getting ready to shoot it down?? Hehe let the man has his fun ...
Look like a next capmallasia....everyone will be tied like alaska crab.
ahem...looks like this burger is due for my GRAND entry....tomor break 2.35 will be time to SHORT AHH !! :P
teeth53 ( Date: 19-Oct-2010 19:29) Posted:
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2nd trading day. Traded to a high of $2.33c, a low of $2.17c and closed of at $2.29ct
| GLP |
CPF |
|
2.190 |
2.290c |
+0.120c |
+5.5% |
Volume-262,399,000 |
Mid-day closing and afternoon opening trade
teeth53 ( Date: 18-Oct-2010 20:20) Posted:
Look like it can last for a while, B4 allowing to float lower...Err maybe higher...
Correction here. GLP Closed at...+10.71% or 0.21ct above it offer price on it first trading day.
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GLP all the ways, cheerrrrrrrrrrrr!
2nd trading day. Traded to a high of $2.33c, a low of $2.17c and closed of at $2.29ct
| GLP |
CPF |
|
2.190 |
2.290c |
+0.120c |
+5.5% |
Volume-262,399,000 |
Mid-day closing and afternoon opening trade
teeth53 ( Date: 18-Oct-2010 20:20) Posted:
Look like it can last for a while, B4 allowing to float lower...Err maybe higher...
Correction here. GLP Closed at...+10.71% or 0.21ct above it offer price on it first trading day.
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Starting from 19th October 2010 GLP will be included into the FTSE/ERPA NAREIT series of indexes -->
http://www.ftse.com/Indices/FTSE_EPRA_NAREIT_Global_Real_Estate_Index_Series/Values.jsp on top of that it will also be added into the GRP250 index followed by the GRP Global index at a later time (Jan 2011)
Today's massive vol done is most probably funds buying into GLP... congrats to all who dared to buy today... tmr will see fireworks ... the FTSE ERPA series consists of 7 indexes imagine the liquidity flowing into GLP.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_742CA8C3C1347BCE482577C00040B87B/$file/News_Release_GLP_Trading_Debut.pdf?openelement GLP is going to fly! Imagine how much should an index stock worth? Good news on the 1st day of trading. In all honesty, our govt is strong and what bet placing your funds by foreign BBs with a stock which is GIC. Its branding at its very best. Buy before the fund managers, local and international, start to buy and it starts tomorrow!
Look like it can last for a while, B4 allowing to float lower...Err maybe higher...
Correction here. GLP Closed at
...+10.71% or 0.21ct above it offer price on it first trading day.
GLP Closed at...+10.715 or 0.21ct above it offer price
Opened-$2.16c, Closed-$2.17c, High-$2.19c and low-$2.13c.
Oct 15 - By Charmian Kok (Reuters) Global Logistic Properties (GLP), the logistics unit of Singapore sovereign wealth fund GIC, is set to raise up to S$3.9 billion in Singapore's second-largest initial public offering. Its shares could jump by up to 10 percent when they debut on Monday
| Code |
Name |
Ind |
Rmk |
Open |
Last |
Change |
% Change |
Volume |
Bid Volume |
Bid |
Ask |
Ask Volume |
High |
Low |
Sector |
Ccy |
Mkt |
Off Code |
Feed Code |
R/D |
| MC0 |
GLP |
CPF |
|
2.160 |
2.170 |
0.000 |
0.0 |
514,022,000 |
348,000 |
2.160 |
2.170 |
2,186,000 |
2.190 |
2.130 |
PROP |
SGD |
-- |
MC0 |
MC0_R |
R |
| Time |
Price |
Trade size |
Type |
| 17:05:04 |
2.170 |
4,776,000 |
Buy Up |
| 17:05:03 |
2.170 |
5,892,000 |
Buy Up |
| 17:05:03 |
2.170 |
3,064,000 |
Buy Up |
| 17:05:02 |
2.170 |
3,920,000 |
Buy Up |
me ipo get 1lot buy another 3 lots at 2.15. last done 2.17. let see what happened tommorow...
Closed 2.17 with Buy up 17652 lots Total vol for the day 514,022 lots
Can anybody post the mkt depth ?
Hi everybody, you think i can start selling my GLP now even though i hv not check wz CDP yet. But I had my balance
refund credited into my account. So it means I hv 1 lot. Thks.
Shareinvestor's Scully is correct, it will be at S$2.15. So it will like last time Singtel, after the IPO, will drop further. I hope not the same pace !!!
Those who start selling should be able to net a profit of $200/- (gross profit).
Traded to a high of $2.19ct and a low of $2.13ct, over 80,000 1 lotters must be very happy.
| GLP |
CPF |
|
Open-2.160 |
Close-2.160 |
0.000 |
0.0 |
Volume-337,104,000 |
Those allotted 1 lot is taking a profit of abt
Thanks all for your help. Just checked the CDP account again. It is now updated, both in Holdings and Movement (current) sections. Think they are really overwhelmed by the response and was a tad slow in their updates. Their hotline is also really Hot (can't seem to get through) and web access is slow....Anyway, all the best to all vested!
