Bull is very strong today. I thought today's correction is healthy, but it seems the bull is insatiable and for the KLCI to recover to positive territory.
it seems a lot of foreign funds are beginning to see that its to their benefit to enter now rather than sit at the sideline awaiting for GE results. from my point of view, if this goes on for a strong 3rd & 4th quarter, BN is in shoo-in position to take back majority.
to all, a happy hunting!
White House, Republicans seal deal on fiscal cliff
By Stephen Collinson and Michael Mathes (AFP)
WASHINGTON — The White House and top Republicans struck a deal to avert huge New Year tax hikes and spending cuts known as the "fiscal cliff" that had threatened to send the US economy into recession.
The pact would raise taxes on the richest Americans -- those earning over $450,000 a year -- but exempt everyone else, and will put off $109 billion in budget cuts across the government for two months, top congressional aides said.
Vice President Joe Biden, who negotiated the deal with Republican Senate Majority leader Mitch McConnell, was on Capitol Hill to sell it to Democratic senators, a White House source added.
Tax hikes and spending cuts were due to come into force on January 1. But as global markets, sure to be rocked by a failure to head off the fiscal cliff, are closed for New Year's day, lawmakers have time to vote the deal into law.
A Senate vote was expected overnight on Monday while the House of Representatives was expected to follow suit on Tuesday after a display of dramatic New Year's Eve brinkmanship.
The deal would mean a return to Bill Clinton-era tax rates for top earners to 39.6 percent, starting at a threshold of annual household earnings of $450,000 and above.
Obama had originally campaigned for tax hikes to kick in for those making $250,000 and above and his acceptance of a higher threshold has already angered liberals, though still represents a political victory.
The president said it would extend tax credits for clean energy firms and also unemployment insurance for two million people due to expire later Monday.
It was also expected to include an end to a temporary two percent cut to payroll taxes for Social Security retirement savings and Medicare health care programs for seniors and changes to inheritance and investment taxes.
The president angered Republicans in remarks in which he warned -- in what is certain to be a bitter fight over cutting the deficit -- that he was not done with seeking higher taxes for the rich.
"Now, if Republicans think that I will finish the job of deficit reduction through spending cuts alone... then they've another thing coming," Obama said, and also poked fun at the glacial pace of Congressional deliberations.
Republicans immediately took to the floor of the Senate to complain.
Senator John McCain accused Obama of ridiculing Republicans and of needlessly antagonizing House of Representatives' members required to vote for the deal.
Republican Senator Bob Corker said his heart was pounding with disappointment at Obama's remarks.
"I know the president has fun heckling Congress. I think he lost probably numbers of votes with what he did," he said.
"It's unfortunate he doesn't spend as much time solving problems as he does with campaigns and pep rallies."
Signs that a deal could be close cheered investors Friday as US markets rose before closing for the year. The Dow Jones Industrial Average closed up 166.03 points (1.28 percent) at 13,104.14.
Both sides were Monday already gearing up for the next legislative showdown over the need to lift the government's statutory borrowing limit of $16.4 trillion, which was reached Monday.
The Treasury will now take extraordinary measures to keep the government afloat for an undisclosed period of time until the ceiling is raised. Republicans are already demanding spending cuts in return.
"I think there is going to be a pretty big showdown next time when we go to the debt limit," McCain told CNN.
am sure market will ride the euphoria tomorrow. all that is needed now is a strong mandate back to Najib and his administration and the foreign investors will come flocking back. Nothing spooks the market as an unstable government.
Govt using poor Petronas to pump priming the economy from future shocks in 2H13. Europe and possibly Russia could be hard hit. Singapore just averted a recession from MAS records!
malaysia msci etf is top ranking in term of consistently positif total return for 10 years (covered by QVM LLC)among 15 country. For example, it is still listed in Cincinatti Stock Exchanges (NSE), the oldest one in US at 15.12 notion value. It reflect our market is stable and resilient to global uncertainty. Strong domestic economy are the most last bastion for us.Our blue chip company grabbed by many risk takers not for gamble but for long term roe/roi etc.Just look at the plantation stock, where the direction they are. Buy R.E.A Holding PLC, UK plantation company in Kalimantan, not just palm oil but coal mining seekers.
KClow still talking about jumbo aye??? i am just going through your conversation with jumbo.. and honestly you are one mental dude @KClow.. honestly.. i bet you are calling your mader singh too aye??? anyhow.. you fellows imbeciles listen to you and think i am that fella too.. well the blind leading the blind i reckon...
strong bull more like strong bull crap... this market is so fake... so many stocks making 52 week lows and they are talking about all time high.. yeah for the regularly petgas petdag hlfg BAT.. the low volume tightly held KLCI index counters....
Foreign funds /conglomerates would love to see continuity in the government as the system is already in place and they know exactly what to do to get projects / contracts (which button to push and where, who to grease etc). yes it is greasy alright.
foreign funds initiate a bull run its the retail investors who continue that run.. the reason now why the markets are not going up even with the KLCI at an all time high is because retail investors dont want to get involved.. once burnt twice shy...theory...
like i said before, the buying is now concentrated back in US for the moment. Once the tax regime is finalized, money will float back to this side of the region! get ready!
i am serious! maybank biggest recepient of ETP transactions and disbursement of loans, regional footprints, hot money and the soon divestment of appx 20% of their holdings of BII at 510 rupiah per shares! flush with liquidity!
oh yeah, did i mention dividend announcement is coming in February? hehehehe
mid caps - Mudajaya, CBIP, Wellcal & Presbhd probably! you might want to look at Kfima too but you missed the boat when it was 1.78! you got to factor in your risk tolerance for GE!
the biggest anxiety facing investors is timing of the GE13. looking at the news reports. BN most likely will call for elections upon expiry of their (5 yrs) full term. After March school holidays(23-31) only other alternative is between April 29(Good Friday ) - May 01(Labour Day) holiday break
local retail , local invester , local fund , foreign fund , long term , short term investers all waiting for GE before they put their money in . ...........
according to some experts here the market is in a bull markets... so i guess all investors should invest in this market...according to them.. so dont miss the boat... LOL
hot money will push the market (index) higher prior to announcement of GE 13 election dates. tendency for the market to move sideways (or lower) after the announcement. after that keep our fingers cross. ride the wave when the going is good.
anyway, like in all preemptive moves, one must anticipate donkey dave's gloating when the GE is called! his day will come, to quote a certain jamban! LOL
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by KC Loh > 2012-07-05 16:54 | Report Abuse
Bull is very strong today. I thought today's correction is healthy, but it seems the bull is insatiable and for the KLCI to recover to positive territory. it seems a lot of foreign funds are beginning to see that its to their benefit to enter now rather than sit at the sideline awaiting for GE results. from my point of view, if this goes on for a strong 3rd & 4th quarter, BN is in shoo-in position to take back majority. to all, a happy hunting!