Posted by Keyman188 > 2020-03-19 17:44 | Report Abuse

Hard to say nowadays...

Too pessimistic selling off everyday ....

You see global market already down almost 30% ~ 45% still bleeding everyday...

Even though Fed, ECB, all countries' central bank come out rescue financial market also seem like not sufficient to diagnosis this unprecedented health crisis....

Unless suddenly got vaccine to cue this virus then different story...

If not mistaken, this year alone, all "White Knight" already flooded liquidity market by $ 6.5 trillion....

Posted by Keyman188 > 2020-03-19 17:48 | Report Abuse

Honest speaking...

I never ever seen this type of meltdown for my past 27 years in the market.....

Perhaps I still young...perhaps I only small potato....perhaps I never seen "Big Snake Pissing"....

Posted by ahbah > 2020-03-19 19:15 | Report Abuse

J.P. Morgan economists forecast the U.S. economy to shrink 14% in the next quarter, and the Chinese economy to drop more than 40% in the current one, one of the most dire calls yet as to the scale of the fallout.

https://www.theedgemarkets.com/article/cash-king-emergency-stimulus-fails-stop-market-panic-0

Posted by ahbah > 2020-03-19 19:20 | Report Abuse

“I’d say the market is uninvestable at this point,” said Daniel Cuthbertson, managing director at Value Point Asset Management in Sydney. “Until we get a containment of global contractions, the market is just going to be directionless.”

Posted by ahbah > 2020-03-19 19:29 | Report Abuse

(March 19): Foreign investors dumped Asian bonds in February on mounting fears over the economic damage done by the coronavirus pandemic on regional countries.

Foreigners sold a net US$3.88 billion worth of regional bonds last month, their largest net selling since April 2018, according to data from regional banks and bond market associations in Indonesia, Malaysia, Thailand, South Korea and India.

Posted by Keyman188 > 2020-03-19 20:28 | Report Abuse

recession is already here: ‘Jobs will be lost, wealth will be destroyed’

(PUBLISHED THU, MAR 19 20207:46 AM EDTUPDATED 7 MIN AGO)


~ Bank of America said the U.S. is now in a recession.

~ “We are officially declaring that the economy has fallen into a recession ... joining the rest of the world, and it is a deep plunge,” the firm said in a note to clients Thursday.

~ “Jobs will be lost, wealth will be destroyed and confidence depressed,” the firm added.


##https://www.cnbc.com/2020/03/19/bank-of-america-says-the-recession-is-already-here-jobs-will-be-lost-wealth-will-be-destroyed.html

Posted by ahbah > 2020-03-19 21:13 | Report Abuse

As at 6pm, the ringgit was quoted at 4.4080/4120 compared with yesterday’s close of 4.3737/3844.

The ringgit has reached its lowest level since April 2017, and the local note is expected to decline even further as oil prices continue to remain under US$30 (RM132) per barrel, global equities continue to plunge and emerging market currencies remain under pressure due to falling demand.

Posted by Keyman188 > 2020-03-20 23:47 | Report Abuse

12 years after Lehman, European banks face a new credit crisis

(PUBLISHED FRI, MAR 20 20209:36 AM EDT)


~ The European banking index is down by more than 70% since 2008.

~ One of the main legacy issues from the crisis is the level of bad loans.

~ Deutsche Bank said Friday that the coronavirus outbreak is likely to hurt its financial targets for the year.


European banks are under intense pressure as the coronavirus halts all major economies, at a time when these institutions were still struggling with the legacy issues of the 2008 financial crash. 

The region’s lenders have undergone a massive transformation since 2008 by increasing capital positions and complying with tougher regulations. They have, nonetheless, struggled to return to their pre-crisis market levels. The European banking index was still down by more than 50% from March 2008 to the start of this year. Virus-fueled selling in global markets means that the same index is now down 70% from March 2008.

"European banks remain vulnerable and fragile from the financial and debt crises and the coronavirus crisis delivers a fresh hit to the financial sector, compounding investor uncertainty,” Athanasia Kokkinogeni, Europe senior analyst at the research firm DuckerFrontier, told CNBC Thursday.

One of the main legacy issues from the crisis is the level of bad loans — which includes loans where the borrower is in default. The latest figures from the European Banking Authority (EBA) show that as of June of 2019, the weighted average ratio of non-performing loans stood at 3%, in comparison with 6% in 2015.

However, the coronavirus outbreak is expected to exacerbate that level of bad loans in banks’ balance sheets, given that many small and medium-sized businesses have been forced to close and will struggle to repay their debts.

“The banking sector seems to be better equipped to deal with shocks than back in 2008 if we look at capital ratios,” Maartje Wijffelaars, economist at Rabobank, told CNBC via email.

“That said, in most euro zone member states, non-performing loan ratios are still higher than back in 2008, even though they have come down substantially since their peak,” she added.


##https://www.cnbc.com/2020/03/20/coronavirus-hits-european-banks-as-they-still-face-post-crisis-issues.html

Posted by Keyman188 > 2020-03-21 11:17 | Report Abuse

Lai...lai...lai...

Don't talk so much....

Waiting long que....


1200 lvl...

1150 lvl...

1100 lvl...

1060 lvl...

950 lvl...

900 lvl...

800 lvl...

Posted by Keyman188 > 2020-03-21 11:38 | Report Abuse

Covid-19 outbreak: How bad can it get for the economy?

(theedgemarkets.com / March 21, 2020 10:45 am +08)

KUALA LUMPUR (March 21): What had started as a viral flu outbreak has now turned into a global pandemic. The Covid-19 coronavirus outbreak has put most countries around the world on lockdown, and has crippled economic activity across the globe.

Close to 250,000 people have been infected across 181 countries thus far, and with more than 10,000 deaths reported. Already, there have been reports of potential bankruptcies as a result of the global lockdowns, and the International Labour Organization estimates that almost 25 million jobs could be lost worldwide as a result of Covid-19.

In Malaysia alone, more than 1,000 people have been infected by Covid-19 as at the time of writing, with three fatalities reported. The growing number of cases in Malaysia resulted in the government imposing a two-week Movement Control Order (MCO) nationwide that started on Wednesday.

Meanwhile, the benchmark FBM KLCI dropped below the 1,300 mark for the first time in a decade on Monday. Year to date, the index has lost more than 300 points, or 30% year-to-date to close at 1,219.72 points last Thursday.

A tumble in crude oil prices, with benchmark Brent crude plunging 60% year-to-date to trade at US$26 per barrel drove the ringgit to a four-year low of 4.42 to the dollar.

So just how much worse can it get? The Edge spoke to economists on whether they see an impending recession -- one just as bad as the 1997/98 Asian Financial Crisis and the 2008/2009 Global Financial Crisis, or worse.

In our accompanying stories, we take a look at how the outbreak has impacted manufacturing supply chains, as well the small-to-medium enterprises (SME) and participants of the gig economy.


##https://www.theedgemarkets.com/article/covid19-outbreak-how-bad-can-it-get-economy

Posted by tien171 > 2020-03-21 13:13 | Report Abuse

RAM: Malaysian bond yields spiked in March following heavy offloading by foreign investors

Yasmin Syazwina/theedgemarkets.com
March 20, 2020 17:27 pm +08

KUALA LUMPUR (March 20): The yields of 10-year Malaysia Government Securities spiked to 3.58% on Thursday, from 2.84% at end-February, according to RAM Rating Services Bhd (RAM), as investors flee to safe-haven assets on fears of a global recession, even as central banks continue to cut rates and ease monetary policy.

"The move to safety so far this month, follows heavy offloading by foreign investors in February that was triggered by the unbridled spread of Covid-19 throughout the world and the political upheaval in the country.

"A staggering RM8.1 bil of net outflows was seen in February. In terms of supply, issuance of MGS/GII (Malaysian Government Securities/Government Investment Issues) and corporate bonds remained robust, with RM12.0 billion and RM10.7 billion, respectively, in February," RAM said in a statement.

Nevertheless, the current spike in MGS yields is seen as a knee-jerk reaction and yields are likely to retreat on account of further global monetary policy easing, including another potential rate cut by BNM in coming months, RAM said.

Like other central banks across the world, Bank Negara Malaysia has moved to ease its monetary policy, amid persistent coronavirus-led headwinds that are roiling markets everywhere.

Yesterday, it lowered the statutory reserve requirement ratio to 2% from 3%, to release more liquidity into the banking system, after making two overnight policy rate cuts, totaling 50 basis points in the last two months to 2.75%.

Posted by KAQ4468 > 2020-03-21 14:49 | Report Abuse

Below 1000 points Bursa

Posted by AIntelligence > 2020-03-21 14:57 | Report Abuse

I think 800 pts, blue chips not drop enough, 3rd liners could be at bottom already.

Posted by Keyman188 > 2020-03-21 15:03 | Report Abuse

KLCI lowest for past history :-

801 (Oct'08)

267 (Aug'98)

Posted by Keyman188 > 2020-03-21 15:07 | Report Abuse

KLCI lowest for past history :-

801 (Oct'08)

267 (Aug'98)


Now 2020, so KLCI ????


Honest speaking lahh....

Very high possibility not below 1000 pt lvl for this century....

Posted by Stncwsss > 2020-03-21 15:09 | Report Abuse

I expect 500

Posted by ahbah > 2020-03-21 15:13 | Report Abuse

U all oreadi clear your portfolio to kosong in order protect our hard

earn moni from covid-19's attack ?

Posted by Keyman188 > 2020-03-21 15:47 | Report Abuse

Fund allocation...

35% of investment fund - during range 1200 ~ 1300

35% of investment fund - during range 1050 ~ 1200

30% of investment fund - during below 1050...............


Example :-

Assumption investment fund : $ 200,000

During 1200 ~ 1300 lvl, intend to purchase 5 Co. (35% of total investmet funds allocation)

Co.A @ 2.00 = allocation of $ 18,500 = 9,200 units

Co.B @ 1.70 = allocation of $ 15,500 = 9,100 units

Co.C @ 1.50 = allocation of $ 14,000 = 9,300 units

Co.D @ 1.30 = allocation of $ 12,000 = 9,200 units

Co.E @ 1.10 = allocation of $ 10,000 = 9,000 units


If index further decelerated to 1050 ~ 1200 lvl, then another 35% of total investment funds allocation

Co.A @ 1.50 = allocation of $ 19,000 = 12,600 units

Co.B @ 1.30 = allocation of $ 16,500 = 12,700 units

Co.C @ 1.10 = allocation of $ 14,000 = 12,700 units

Co.D @ 0.90 = allocation of $ 11,500 = 12,700 units

Co.E @ 0.70 = allocation of $ 9,000 = 12,800 units


If index further decelerated below 1050, then balance 30% of total investment funds allocation

Co.A @ 1.10 = allocation of $ 19,000 = 17,200 units

Co.B @ 0.90 = allocation of $ 15,500 = 17,200 units

Co.C @ 0.70 = allocation of $ 12,000 = 17,100 units

Co.D @ 0.50 = allocation of $ 8,500 = 17,000 units

Co.E @ 0.30 = allocation of $ 5,000 = 16,600 units


## So total share holding & average price for each company :-

Co.A = $ 56,220 / 39,000 units = $ 1.4415

Co.B = $ 47,460 / 39,000 units = $ 1.2169

Co.C = $ 39,890 / 39,100 units = $ 1.0202

Co.D = $ 31,890 / 38,900 units = $ 0.8198

Co.E = $ 23,840 / 38,400 units = $ 0.6208


%% At the end, the final average price of each company almost lower than the price during 1050 ~ 1200 index level

Posted by moven00 > 2020-03-21 16:06 | Report Abuse

Turun lah, kasi dia Turun. Bagus bagus teruskan...leburkan.

Posted by Keyman188 > 2020-03-22 09:14 | Report Abuse

Coronavirus live updates: FDA OKs ‘emergency use’ test, global cases top 300,000 (PUBLISHED SAT, MAR 21 20209:10 AM EDTUPDATED 3 HOURS AGO)

~ The coronavirus has infected more than 303,180 and killed at least 12,944 worldwide, according to data from Johns Hopkins University.

This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks.

Global cases: More than 303,180
Global deaths: At least 12,944
U.S. cases: At least 24,148
U.S. deaths: At least 285
The data above is from Johns Hopkins University.

6:00 pm: Cases top 300,000 worldwide as US becomes one of worst hit countries
The number of people who have tested positive for the deadly coronavirus, or COVID-19, has topped 300,000 as the pandemic continues to spread around the world, with the situation in the U.S., Italy and Spain deteriorating even as the pandemic has stabilized in China, where the virus first emerged.

At least 303,180 people have tested positive for the virus worldwide as of Saturday at 5:13 pm ET, according to data from Johns Hopkins University. The number of cases in the U.S. has surged to at least 24,148, making it one of the worst hit countries in the world. Only China, Italy and Spain are harder hit than the U.S. - Spencer Kimball, Emma Newburger


##https://www.cnbc.com/2020/03/21/coronavirus-live-updates-us-hospitals-seek-100-billion-in-aid.html

Posted by Keyman188 > 2020-03-22 09:25 | Report Abuse

Malaysia Growth Seen as Low as 2% on ‘Triple Whammy’ of Troubles
(March 22, 2020, 8:00 AM GMT+8)

Malaysia’s economy is set to grow at its slowest pace since the 2009 financial crisis as it struggles with a trio of troubles: coronavirus, oil-price crash and political upheaval.

Analysts from Fitch Ratings to United Overseas Bank Ltd. now expect Malaysia’s economy to grow about 2% this year. That compares with the government’s estimate that gross domestic product will expand 3.6%-4%, which already accounts for the virus’s impact. The central bank is set to release its annual report on the economy Wednesday, where it’s expected to revise its outlook.

Malaysia is grappling with the most cases of Covid-19, the disease caused by the coronavirus, in Southeast Asia. That prompted the government to ban overseas travel and close shops and schools from March 18-31, with a warning that the lockdown could be extended. An abrupt change in government last month and an ongoing price war in the oil market have compounded troubles for Malaysia.

“Malaysia is facing a triple whammy of political, oil price and coronavirus shocks,” said Thomas Rookmaaker, director of Asia-Pacific Sovereigns at Fitch Ratings.

CORPORATE IMPACT OF MALAYSIA LOCKDOWN:

~ Airlines: AirAsia Group Bhd., Malaysia Airlines Bhd. cancel thousands of flights, offer unpaid leave to staff

~ Banks: Malayan Banking Bhd., CIMB Group Holdings Bhd. shares trade at multi-year lows

~ Leisure: Genting Malaysia Bhd. injects $40 million to U.S. unit for debt refinancing


Policy makers have unveiled a raft of measures to bolster the economy. On Monday, Prime Minister Muhyiddin Yassin added cash handouts and electricity discounts to a 20 billion ringgit ($4.6 billion) package announced by his predecessor, while Bank Negara Malaysia cut the Statutory Reserve Ratio March 19 as part of moves to release 30 billion ringgit of liquidity into the banking system.

The central bank has cut its policy rate to the lowest in a decade, most recently lowering rates by 25 basis points to 2.50% on March 3. The bank is due to meet again on rates May 5.

The moves “won’t help the economy in the sense of getting people back dining and shopping, but will ease pressure on the banking system, which is a good thing,” said Stephen Innes, chief market strategist at AxiCorp Ltd..


##https://www.bloomberg.com/news/articles/2020-03-22/malaysia-growth-seen-as-low-as-2-on-triple-whammy-of-troubles?srnd=premium-asia

Posted by Keyman188 > 2020-03-23 00:22 | Report Abuse

New York state has more coronavirus cases than France or South Korea as infections soar to 15,168

(PUBLISHED SUN, MAR 22 202011:42 AM EDTUPDATED MOMENTS AGO)

~ New York state now has more coronavirus cases than France or South Korea.

~ The number of confirmed infections soared to 15,168, according to new data released by Gov. Andrew Cuomo.

~ “New York is testing more people than any state in the country and, per capita, more than any country in the globe,” Cuomo said, adding that the state has tested 61,000 people.


New York state now has more coronavirus cases than France or South Korea as the number of confirmed infections soared to 15,168, according to new data released by Gov. Andrew Cuomo on Sunday.

The outbreak across the state is the worst in the United States. New York now has more COVID-19 cases than several countries struggling to manage their own caseloads, including France, South Korea, Switzerland, and the U.K., according to data compiled by Johns Hopkins University. Within the U.S., Washington state has the next highest number of cases at 1,647 followed by California at 1,518, according to a chart Cuomo presented at a press conference in Albany.

“New York is testing more people than any state in the country and, per capita, more than any country in the globe,” Cuomo said, adding that the state has tested 61,000 people. Roughly 15,000 of those tests are new, identifying 4,800 new cases in the last day, he said.

Cuomo said he’s asked the federal government to nationalize the purchase of medical equipment and has signed off on several locations to build temporary hospitals to treat coronavirus patients.

Cuomo said the U.S. Army Corps of Engineers will build temporary hospitals in Stony Brook, Westbury, Westchester, New York, and the Jacob K. Javits Convention Center in New York City, which will contain four federal hospitals with 250 beds each.

New York state is also running a clinical trial beginning Tuesday of a treatment regimen of hydroxychloroquine and azithromycin, two drugs that doctors in Africa and elsewhere say they’ve seen good results in fighting the virus.

Cuomo said the federal government needs to nationalize the purchase of needed medical supplies, adding that the shortage of personal protective gear like masks and life-saving equipment like respirators is leading to price gouging. Masks that used to cost 85 cents are now $7, “why because I’m competing against other states,” he said.

“Currently when states are doing it, we are competing against other states. In some cases, we’re savaging other states,” Cuomo said. “This is just an impossible situation to manage, if we don’t get the equipment, we could lose lives that we could otherwise save if we had the equipment.”

New York City is the new epicenter of the COVID-19 outbreak in the U.S., Mayor Bill de Blasio said Friday.


##https://www.cnbc.com/2020/03/22/new-york-state-has-more-coronavirus-cases-than-france-or-south-korea-as-infections-soar-to-15168.html


*** Very high possibility, coming week, US market (DJIA) will definitely plummeted to the range of 15,000 ~ 16,000


Tragedy...Tragedy...Tragedy...

Posted by Keyman188 > 2020-03-23 07:31 | Report Abuse

Coronavirus stimulus bill fails in key Senate procedural vote
(PUBLISHED SUN, MAR 22 20204:08 PM EDTUPDATED 18 MIN AGO)

~ A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening.

~ The stalemate came hours after Democratic leaders warned that the bill was not to their liking. And stock futures cratered as the two parties failed to agree on the terms of the package.

~ Still, President Donald Trump expressed optimism that lawmakers would eventually reach a deal. “I think you’ll get there,” Trump told reporters at the coronavirus task force press briefing shortly after the vote became final.


A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening.

The stalemate came hours after Democratic leaders warned that the bill was not to their liking because they said it did too much to bail out companies and not enough to help workers. Stock futures cratered as the two parties failed to agree on the terms of the package.

Still, President Donald Trump expressed optimism that lawmakers would eventually reach a deal. “I think you’ll get there,” Trump told reporters at the coronavirus task force press briefing shortly after the vote became final.

Efforts to forge a deal and pass the bill took on added urgency as several members of Congress, including GOP Sen. Rand Paul, tested positive for the coronavirus. Other Republican senators who had been in contact with Paul, including Mitt Romney of Utah, quarantined as a precaution.

The key Senate vote, originally scheduled for 3 p.m. ET Sunday, was moved 6 p.m.

The measure, at least in its current form, looked like it was heading for demise earlier Sunday as Democratic leaders aired their concerns with it.

“From my standpoint, we’re apart,” House Speaker Pelosi, D-Calif., told reporters earlier Sunday.

“Leader McConnell had to postpone his 3 p.m. cloture vote on the motion to proceed because, thanks to Leader Chuck Schumer and Senate Democrats, he did not have the 60 votes required,” Pelosi said in a statement Sunday.

Congressional aides said that pressure to come to a deal quickly could force the two parties to come to a resolution sooner rather than later. Yet as of Sunday evening, it remained unclear whether a deal was achievable.

Senate Republicans last week rolled out a roughly $1 trillion proposal after working closely with the administration, in a bid to slow the potentially catastrophic impact of the coronavirus on the economy. More than 26,000 have tested positive for the illness in the United States, a number that is expected to surge as more tests are distributed. The bill included small business loans, direct payments for individuals and billions in aid for industries like airlines whose businesses have been hit hard by the virus and efforts to stop its spread.

Larry Kudlow, the president’s top economic advisor, said Saturday that the bill could end up pumping $2 trillion into the economy through government spending and Federal Reserve action.

Senate Republicans and Democrats worked all weekend on a revised bill, working towards to goal of a formal vote on Monday. But by Sunday, there were still disagreements, with Democrats arguing the bill shortchanges workers.

“I oppose this bill as it currently stands and am urging Republicans to return to the negotiating table so we can reach an agreement that does much more to support the workers, families, and communities on the front lines of this pandemic,” said Sen. Patty Murray, D-Wash.

The proposed bill now sets aside an up to $500 billion fund to support “severely distressed business.” That includes $58 billion for passenger and cargo airlines and $17 billion for businesses critical to maintaining national security, according to a draft bill obtained by CNBC.

A previous draft bill allocated $150 billion for distressed businesses, in addition to $58 billion for airlines and cargo carriers.

While the new proposed bill adds certain restrictions that Democrats had pushed for – like a ban on stock buybacks while a loan is outstanding and maintaining payroll “to the extent practicable” – those concessions were not enough. Trump reiterated Sunday evening that he did not want stock buybacks permitted in the measure.

“In the midst of an unprecedented national crisis, Republicans can’t seriously expect us to tell people in our communities who are suffering that we shortchanged hospitals, students, workers, and small businesses but gave big corporations hundreds of billions of dollars in a secretive slush fund,” said Murray, whose home state is one of the hardest-hit by the disease’s outbreak.


##https://www.cnbc.com/2020/03/22/coronavirus-stimulus-congress-struggles-to-reach-a-deal.html


*** More worse if the stimulus aid failed to pass through

Expected : DJIA - 15,000 ~ 16,000 this few days

Posted by Keyman188 > 2020-03-23 08:08 | Report Abuse

U.S. Stock Futures Hit Limit Down; Oil Tumbles: Markets Wrap

(March 23, 2020, 4:46 AM GMT+8 Updated on March 23, 2020, 7:28 AM GMT+8)

U.S. equity futures tumbled at the start of trading Monday after a surge in the global death toll from the coronavirus and a failure as yet by Congress to agree on an aid plan. Crude oil slumped.


S&P 500 futures dropped 5% and hit limit down after the index lost more than 4% on Friday. Australian equities tumbled more than 8% and Asian contracts pointed lower. The dollar climbed against major peers. New Zealand’s dollar fell with the country’s bond yields after its central bank joined other countries in saying it will start buying bonds to stimulate the economy. As investors attempt to assess the severity of the upcoming downturn, Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the virus.

Markets are “pricing a global recession, which we expect; stay defensive,” Goldman Sachs Group Inc. strategists Kamakshya Trivedi and Zach Pandl, wrote in a note Sunday. “The uncertainties around the depth and duration of the hit to the global economy remain high and the momentum in our own, and other, economic forecasts continues to be sharply negative with downside risks.”

The 10-year Treasury yield fell back below 1% last week and the dollar steadied after vaulting more than 8% in the previous eight sessions as the Fed coordinated action with global central banks to beef up dollar liquidity swap line arrangements.

Investors are grappling with a faster pace of coronavirus infections against flickers of optimism that have followed extraordinary government actions to protect the global economy, from plans for stimulus and cash handouts to nationalizing companies.

The New Zealand central bank said it will buy up to NZ$30 billion ($17 billion) of government bonds in the secondary market over the next 12 months. In the U.S., Democrats blocked the U.S. Senate from advancing a massive aid package as House Speaker Nancy Pelosi said the measure fell short of her goals.


##https://www.bloomberg.com/news/articles/2020-03-22/dollar-dips-in-early-trading-kiwi-declines-on-qe-markets-wrap?srnd=premium-asia

Posted by Keyman188 > 2020-03-23 17:16 | Report Abuse

Despite this morning KLCI plummeted by 61 pt...

Despite whole day KLCI plummeted below 1260......

But....

Volume suddenly reduced to 2.8 billion share changed hand....

If compare last week, if this kind of plummeting incident, average share volume about 4 ~ 5 billion changed hand.....

Posted by Keyman188 > 2020-03-23 17:19 | Report Abuse

Seem like good sight strong support @ 1220 pt....

Posted by Keyman188 > 2020-03-23 17:36 | Report Abuse

Stocks have ‘at least 10% to 15%’ further to fall: Scaramucci

(PUBLISHED MON, MAR 23 20204:58 AM EDT)


~ The U.S. is in a “protracted bear market” and stock prices could fall further, according to Anthony Scaramucci, an investor and former White House communications director.

~ In the short term, however, he said he is optimistic because of the expectation that Congress will approve economic stimulus for the country.

~ He also said U.S. President Donald Trump could emerge from this crisis “very strong” if he executes on the stimulus. “I think it’s still a toss-up, going into November,” he added.


The U.S. is in a “protracted bear market” and stock prices could fall further, according to Anthony Scaramucci, an investor and former White House communications director.

“I actually think we’re now in a secular bear market,” he told CNBC’s “Capital Connection” on Monday. “As the economic data comes out, we’re going to be in a fairly steep recession.”

His comments come as America and the world grapple with the fallout from the ongoing coronavirus pandemic. Global markets have been volatile and under pressure as cases continue to rise past 294,000. The World Health Organization has also reported nearly 13,000 deaths.

The Dow Jones Industrial Average is down 32.81% from the beginning of the year, while the S&P 500 index has fallen 28.66% over the same period.

“We’re in a protracted bear market,” said Scaramucci, who is founder and managing partner at investing firm SkyBridge. “I think there’s at least 10% to 15% more to go in equity prices here.”

In the short term, however, he said he is optimistic because of the expectation that Congress will approve economic stimulus for the country.

On Sunday evening, a huge funding package failed to get enough votes in a key Senate procedural vote.

“I predict that they will get a deal done. They know how sensitive this is for markets,” Scaramucci said. “It may come before the (market) opening, but if it doesn’t, my guess is it will come after tomorrow’s close.”

He said the stimulus will send a message to U.S. citizens that the government is there for them “in a time of crisis like this.”

“I’ve told people, this is so much worse than the global financial crisis. It’s literally 9/11 plus the global financial crisis,” he added.


##https://www.cnbc.com/2020/03/23/stocks-have-at-least-10percent-to-15percent-further-to-fall-scaramucci.html

Posted by ahbah > 2020-03-23 17:44 | Report Abuse

“We’re in a protracted bear market,”

I am in "half living mode". The other half got burn by the mkt !

Posted by ahbah > 2020-03-23 17:55 | Report Abuse

By NST Business - March 23, 2020 @ 12:40pm

KUALA LUMPUR: A sharp contraction of the global economy, at least in the second quarter, appears imminent, Moody’s Investors Service said.

Uncertainty will remain for at least several months as to how long it will take to contain the spread of the virus and how businesses and households will cope with the resulting financial losses.

*** A sharp contraction of the global economy ***

Posted by ahbah > 2020-03-23 18:00 | Report Abuse

“First, let’s acknowledge that none of us can predict when the market will bottom,” said Brian Levitt, global market strategist at Invesco, in a Friday note.

Posted by ahbah > 2020-03-23 18:05 | Report Abuse

“Honestly, we think a more reasonable target for this global recession that is only beginning is at least a 74% decline from February’s highs to mark the bottom. There were just too many excesses in this one. The purging... has only just begun.”

Posted by Jengacam > 2020-03-23 19:45 | Report Abuse

900 la

Posted by ahbah > 2020-03-23 22:57 | Report Abuse

In our call of the day, Morgan Stanley said U.S. GDP growth would plunge 30% in the second quarter, hitting a 74-year low. The forecast is worse than that of Goldman Sachs, which predicted a 24% drop, but more optimistic than Federal Reserve Bank of St. Louis President James Bullard’s 50% drop forecast.

Posted by ahbah > 2020-03-23 22:59 | Report Abuse

The U.S. unemployment rate could hit 30% in the coming months due to the coronavirus crisis, according to Federal Reserve Bank of St. Louis President James Bullard.

Posted by ahbah > 2020-03-24 17:25 | Report Abuse

The flash eurozone composite purchasing managers index in March plummeted to a reading of 31.4 from 51.6 in February, which is a record low since the series began in July 1998. The services PMI plunged to 28.4 from 52.6 in February.

Any reading below 50 indicates contracting conditions. "The March PMI is indicative of GDP slumping at a quarterly rate of around 2%, and clearly there's scope for the downturn to intensify further as even more draconian policies to deal with the virus are potentially implemented in coming months," said Chris Williamson, chief business economist at IHS Markit.

Posted by ahbah > 2020-03-25 15:45 | Report Abuse

Most adults would receive direct payments of $1,200, while children would see $500 checks. Hospitals would receive some $150 billion under the deal and small businesses would get $367 billion in aid.

The deal came as President Donald Trump freshly warned of the impact on U.S. economy from the coronavirus

Durian runtoh from The Firer !

Posted by apolloang > 2020-03-25 15:47 | Report Abuse

directors,politicians salary reduce 80% to donate to the poor better

Posted by Keyman188 > 2020-04-14 17:41 | Report Abuse

Markets have not hit the ‘absolute bottom’ yet, says Mark Mobius

(PUBLISHED TUE, APR 14 20204:11 AM EDT)

~ “I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mark Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.

~ Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.

~ Mobius also suggested that the damage from a protracted shutdown would be “incredible,” and called for the economy to open up again “in some way.”


Markets probably have not hit the “absolute bottom” yet, said veteran emerging markets investor Mark Mobius, who urged investors to keep cash on hand for buying opportunities.

“I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.

Earnings season is set to kick off Tuesday with JPMorgan Chase, Wells Fargo and Johnson & Johnson reporting numbers. The first batch of results will give investors a sense of how devastating the hit to corporations could be from the pandemic.

Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.

Markets have, meanwhile, been volatile in the past month as the number of coronavirus cases and fatalities in the U.S. spiked sharply. Since the S&P 500′s all-time high on February 19, it’s down almost 19%.

The question on investors’ minds have been whether markets have reached a bottom. But Mobius urged people to keep more cash on hand in case another bottom occurs.

“Although there are some opportunities to buy, I would say it’s probably a good idea to keep some powder dry for another downturn. We might see a double bottom,” he said.

Mobius also suggested that the damage from a protracted shutdown would be “incredible,” and called for the economy to open up again “in some way.”

Many affected countries are under lockdown or stay-home measures because of the outbreak and authorities are debating when things can go back to normal.

But Mobius said: “I think we have to open up again in some way, because otherwise the collateral damage is going to be incredible. You think about the people who live day to day ... you got to get the economy going again.”

U.S. President Donald Trump last week said he wanted the economy to “open as soon as possible,” but won’t do so “until we know this country is going to be healthy.”

The U.S. Department of Health and Human Services reportedly projected that lifting stay-at-home orders, school closures and social distancing after just 30 days would lead to an infection spike this summer.


##https://www.cnbc.com/2020/04/14/mark-mobius-on-markets-bottom-investing-coronavirus.html

Posted by CharlesT > 2020-04-14 17:43 | Report Abuse

Wait loh...wait for another 10 years like ttb

Posted by CharlesT > 2020-04-14 17:45 | Report Abuse

Mark Mobius is TTB"s abang adik...everyday shouting for mkt crash doomday etc since many many years ago

Posted by Keyman188 > 2020-04-14 17:55 | Report Abuse

No matter how...

This month already wildly rebound back by 13.75% from last month low...

So no point battle with more & more resistance level....

Too bad...Today I finally have disposed quite substantial my portfolio...


1) CMSB @ 1.26 / 1.27 (all)

2) Muhibbah @ 1.03 (all)

3) Gadang @ 0.370 (all)

4) UMW @ 2.18 (1/3)

5) BAT @ 10.86 (1/3)


The rest holdings will closely monitor this coming few days then re-decide.....

Posted by Keyman188 > 2020-04-14 19:04 | Report Abuse

JPMorgan reports big decline in first-quarter earnings from coronavirus, but posts record markets revenue

PUBLISHED TUE, APR 14 20206:20 AM EDTUPDATED MOMENTS AGO

~ JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Tuesday.

~ Here’s what Wall Street expects: Earnings: $1.84 per share, a 31% decline from a year earlier, according to Refinitiv.

~ Revenue: $29.67 billion, a 0.6% decline from a year earlier.

~ Trading Revenue: Fixed income $4 billion, equities $2.08 billion


##https://www.cnbc.com/2020/04/14/jpmorgan-chase-jpm-earnings-q1-2020.html

Posted by freetospeak > 2020-04-14 19:10 | Report Abuse

dun b surprise dj will rally on bad earning...with 3 bad major unempolyment rally...i am not surprise.

Posted by Keyman188 > 2020-04-14 20:21 | Report Abuse

总警长：若病例继续增加·“行管令或延至6月”

(八打灵再也14日讯）全国总警长丹斯理阿都哈密提醒民众，如果因民众冥顽不宁而导致冠状病毒病病例继续增加，那么行动管制令可能会延长到六月份。

马来文报章《大都会日报》引述阿都哈密指出，为了阻断冠病传播，警方执行行管令不会有任何松懈，任何违令者都会被逮捕。

首相丹斯理慕尤丁宣布行管令将二度延长至4月28日，而明天我国将踏入第三阶段的行管令，而国防部高级部长拿督斯里依斯迈沙比利今日也宣布，自明日起，任何违反行管令的人士都会被警方逮捕及提控上庭，而不会再发出1000令吉的罚单，以确保民众不会再违反行管令。

除了严厉对付违反行管令的人士，军警人员也陆续在全国各地进一步增加路障以及封锁一些路段，以收紧民众的移动范围。


##https://www.sinchew.com.my/pad/con/content_2253591.html

Posted by Keyman188 > 2020-04-14 20:22 | Report Abuse

总警长：若病例继续增加·“行管令或延至6月”

(八打灵再也14日讯）全国总警长丹斯理阿都哈密提醒民众，如果因民众冥顽不宁而导致冠状病毒病病例继续增加，那么行动管制令可能会延长到六月份。

马来文报章《大都会日报》引述阿都哈密指出，为了阻断冠病传播，警方执行行管令不会有任何松懈，任何违令者都会被逮捕。

首相丹斯理慕尤丁宣布行管令将二度延长至4月28日，而明天我国将踏入第三阶段的行管令，而国防部高级部长拿督斯里依斯迈沙比利今日也宣布，自明日起，任何违反行管令的人士都会被警方逮捕及提控上庭，而不会再发出1000令吉的罚单，以确保民众不会再违反行管令。

除了严厉对付违反行管令的人士，军警人员也陆续在全国各地进一步增加路障以及封锁一些路段，以收紧民众的移动范围。


##https://www.sinchew.com.my/pad/con/content_2253591.html

Posted by Keyman188 > 2020-04-15 21:02 | Report Abuse

New York manufacturing hits record low reading of -78.2 amid coronavirus collapse

PUBLISHED WED, APR 15 20208:39 AM EDTUPDATED MOMENTS AGO

Manufacturing in the New York area fell by its biggest margin ever to a historic low far worse than anything seen during the Great Recession.

The Empire State Manufacturing Index for April hit -78.2, worse even than the -32.5 expected by economists surveyed by Dow Jones. The worst reading the index had seen was -34.3 during the financial crisis.

The index measures companies reporting better vs. worse conditions over the past month. Just 7% reported stronger conditions, while 85% said things had weakened.

As businesses shut down due to coronavirus restrictions, it was no surprise that firms in New York, which has been the epicenter of cases in the U.S., would experience a downturn or near total stoppage. However, the outlook ahead wasn’t much better, with the future expectations index registering a 7% reading.

“New orders and shipments declined at a record pace. Delivery times lengthened, and inventories fell. Employment levels and the average workweek both contracted at a record pace,” the New York Federal Reserve said in a release. “Input price increases slowed considerably, while selling prices declined modestly. Though current conditions were extremely weak, firms expected conditions to be slightly better six months from now.”

Nearly 59% of companies reported fewer employees against just 3.3% saying they had more. About 77% said new orders had fallen, while 76% reported a decline in shipments.


##https://www.cnbc.com/2020/04/15/new-york-manufacturing-hits-record-low-reading-of--78point2-amid-coronavirus-collapse.html

Posted by Keyman188 > 2020-04-15 21:05 | Report Abuse

Citigroup’s first-quarter profit tumbles 46% as bank sets aside more money for loan losses

PUBLISHED WED, APR 15 20207:59 AM EDTUPDATED 25 MIN AGO

~ Citigroup reported a sharp drop in its first-quarter profit as the bank built its loan-loss reserves by $4.9 billion.

~ Although the results were better than anticipated, it’s difficult to compare reported earnings to analyst estimates in light of the coronavirus pandemic.


##https://www.cnbc.com/2020/04/15/citigroup-q1-2020-earnings.html

Posted by Keyman188 > 2020-04-15 21:09 | Report Abuse

Goldman’s profit tumbled 46%, but bank posts strongest bond-trading results in 5 years

PUBLISHED WED, APR 15 20207:18 AM EDTUPDATED MOMENTS AGO

~ Goldman Sachs on Wednesday said first quarter profit dropped 46% as the coronavirus pandemic wiped out results in its asset management division. 

~ The bank said it earned $1.21 billion in the quarter, or $3.11 a share, missing the $3.35 estimate of analysts surveyed by Refinitiv.

~ While results were dragged down by losses in debt and equity holdings housed in the asset management business, the firm’s trading division exceeded expectations, helping companywide revenue of $8.74 billion top the $7.92 billion estimate. 

~ Goldman shares slipped 3.3% in premarket trading.


## https://www.cnbc.com/2020/04/15/goldman-sachs-gs-earnings-q1-2020.html

Posted by Keyman188 > 2020-04-15 21:13 | Report Abuse

Stock market live updates: Dow futures off 500, shocking economic data, bank earnings plunge

PUBLISHED WED, APR 15 20207:40 AM EDTUPDATED 7 MIN AGO



##https://www.cnbc.com/2020/04/15/stock-market-today-live.html



^^^ Prepare for 2nd waive & perfect storm coming around the corner

Posted by Keyman188 > 2020-04-15 23:51 | Report Abuse

The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’

PUBLISHED WED, APR 15 202010:19 AM EDTUPDATED 18 MIN AGO

Consumer and manufacturing reports for March showed the hit to the economy from the coronavirus was even swifter and deeper in the early weeks of the shutdown than expected.

March retail sales fell 8.7%, the most ever in government data, and New York regional manufacturing activity hit an all time low, declining a shocking 78.2%. Industrial production declined 5.4% and manufacturing was down 6.3%, a record reflecting the 28% decline in auto production as plants shut down.

The economic reports showed the double whammy of state shutdowns in mid-March on two pillars of the economy — the consumer and business. Both reports were even more dire than expected, and foreshadow even worse declines in April’s activity, with state shutdowns affecting areas responsible for more than 90% of the economy.

March retail sales fell 8.7%, a record drop, with the only sign of activity at grocery and beverage stores, which saw sales grow by 25.6%. Economists expected an 8% decline in monthly sales. The consumer accounts for 70% of the economy.

“The economy is clearly in ruins here,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “Nobody is buying cars, down 25.6%, nobody is buying furniture, down 26.8%, and eating and drinking places were down 26.5%.”

The economic decline, which started in the first quarter is expected to reach its trough in the second quarter. Economists expect an unprecedented drop of more than  30% in GDP for the second quarter. JPMorgan economists expected a 40% decline in the second quarter, on top of a 10% drop in the first quarter.

But now already negative first quarter GDP forecasts may also worsen, showing the economy began contracting at a rapid pace when businesses closed down, states ordered residents to stay home and President Donald Trump told Americans to stay out of restaurants and practice safe distancing.


Cont....


##https://www.cnbc.com/2020/04/15/the-economic-data-is-even-worse-than-wall-street-feared-the-economy-is-clearly-in-ruins-here.html