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Today is even more flat then pancakes.. Nothing is exciting the market.. Sigh.
Enjoy the weekend all...and look forward to a better week next week.
Cheers.
STI has been trending up. The bull is already here. Question is why is it going to end.
Enjoy your weekend!
I expect September will be a great month, Tanglinboy ...... Let's see if I am wrong. :P
I wonder when is the bull coming back.
STI closed 2,453.20 up 7.10 points with 940m shares traded .... Thought can hit 2,500 this week. Sigh!
Next week will be very interesting with full of activities and summer hoiliday ending. Shiok! Stay positive and focus, guys - cos September will be a good month (in my opinion)!
Huh, surprised that Fed's Benny will be making a speech today .... can't find his schedule to speak today at all.
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TOKYO, Aug 25 (Reuters) - The Nikkei share average fell 0.14 percent on Friday, posting its first weekly loss in five weeks, as Toyota Motor Corp. (7203.T: Quote, NEWS, Research) and other recent gainers declined on concern about the outlook for the key U.S. market.
Softbank Corp. (9984.T: Quote, NEWS, Research) tumbled on a brokerage price cut, while Sony Corp. (6758.T: Quote, NEWS, Research) fell after a second recall of its batteries for notebook computers.
Investors were awaiting a speech by U.S. Federal Reserve Chairman Ben Bernanke later in the day for information about the strength of the world's largest economy.
"It's the end of the week and people are looking ahead to the speech by Bernanke, so I think investors are trying to close out their positions," said Tatsuyuki Kawasaki, director of equities trading division at Kaneyama Securities.
"Investors are worried that we might see the pace of growth in the U.S. economy slow further."
The Nikkei <.N225> ended 21.96 points lower at 15,938.66. For the week it fell 1.04 percent, its first weekly loss since the five days to July 21. It had risen as high as 1.23 percent during the morning before falling steadily in afternoon trade.
The broader TOPIX index <.TOPX> ended down 0.20 percent at 1,619.81.
I think today STI will remain green for some profit taking & fall flat at the ending.
Don't look at the three dragons (Loong) - namely China, our Loong or One-eyed Dragon (he's a gonner anyway).
Look at the Dinosaur (Khong Loong) - the USA. They are the ones calling the shots in market movement. When the Dow is up, the whole world is up. When its down, the whole world is down. Period.
Happy trading today.
Looks like our local dragon "Loong" can't beat the dragon of asia "China" yesterday despite S'pore better economy in his ND rally speech on Sunday.
Dow & Nasdaq down last nite due to higher oil price (or excuse for profit taking after last week's rally?).
Think it will be a ding dong day for STI ....
STI dropped today due to Friday's China interest rate hike .... US market drop now due to oil price hike. Sigh!!
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STI dropped today due to Friday's China interest rate hike .... US market drop now due to oil price hike. Sigh!!
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Investors focus on rates changes, rising oil
By Jeremy Gaunt, European Investment Correspondent
LONDON, Aug 21 (Reuters) - Shifting patterns in global interest rates boosted the euro and lifted demand for bonds on Monday, while oil prices climbed as much as $1 a barrel on Iran's nuclear stalemate with the West.
European and Japanese equities fell in thin August trading.
Crude oil prices drove higher as Iran appeared determined to continue with its atomic fuel programme ahead of a deadline from the United Nations to halt nuclear work.
U.S. light crude for September delivery was up 87 cents at $72.01 a barrel, after gaining $1.08 on Friday.London Brent was up $1.13 at $73.45 a barrel.
The United Nations Security Council has demanded Iran halt its nuclear work by Aug. 31, prompting traders to fear the world's fourth biggest oil exporter might retaliate by withholding exports of more than 2 million barrels per day.
Markets were otherwise digesting a raft of U.S. data last week pointing to benign inflation, slowing housing, falling leading indicators and weakening consumer sentiment.
That slew of information led many investors to expect U.S. interest rates to at last stay level while euro zone rates continue to rise.
One impact was to boost the euro.
"A shift in expectations for rate differentials is driving the euro. The market is pricing in a hawkish ECB," said Benedikt Germanier, currency strategist at UBS in Zurich.
The euro hit a lifetime high against the yen of around 49.10 yen and the dollar hit a one-week low against the euro at $1.2906
Demand for bonds also rose as investors considered a slowing global economy and level rates from the U.S. Federal Reserve.
Euro zone government bond futures climbed to a five-month high and yields on both the benchmark 10-year euro zone bond and 10-year U.S. Treasury note yield were down 2.6 basis points.
"The market seems to be increasingly convinced that the Fed is done for this cycle and that boosts bonds," said a London-based trader.
EQUITIES
European shares fell in quiet trading and amid some concern about the rising oil price.
The FTSEurofirst 300 index of leading European shares was down 0.35 percent and the narrower DJ Stoxx 50 index lost 0.54 percent.
Earlier, Japan's Nikkei average fell 0.85 percent as investors grabbed profits from blue-chip stocks seen as having risen too high too fast.
The sell-off came after a four-week advance by the benchmark Nikkei in which it added nearly 1,300 points.
The Nikkei fell 136.94 points to 15,969.04, while the broader TOPIX index lost 1.05 percent to 1,624.21.