Posted by Keyman188 > 2020-03-25 08:13 | Report Abuse

Dow Surges Most Since 1933 on Stimulus Deal Hopes: Markets Wrap

(March 24, 2020, 5:55 AM GMT+8 Updated on March 25, 2020, 4:22 AM GMT+8)

U.S. stocks had the best day in almost a dozen years as investors rediscovered their appetite for risk with Congress closing in on an unprecedented spending bill to prop up the slumping economy. The dollar halted a 10-day winning streak.

The S&P 500 rebounded from the lowest level since 2016, notching a third straight Tuesday turnaround -- and the biggest one-day gain since October 2008 -- after starting the week with a rout. The Dow Jones Industrial Average rose more than 11% to clock its biggest advance since 1933.

Lawmakers are negotiating the final sticking points in a roughly $2 trillion stimulus bill to help the U.S. economy get through the coronavirus pandemic, and House Speaker Nancy Pelosi said she was hopeful a deal could be reached today.

“U.S. equities are responding to the possibility of this gargantuan fiscal stimulus package and some certainty in the political situation,” Stephen Dover, head of equities at Franklin Templeton, said in a phone interview.

The Stoxx Europe 600 Index also surged, led by health-care and industrial companies, even as data began to show the extent of economic damage to the region from the coronavirus pandemic. Benchmarks across Asia jumped, with Korea’s index soaring almost 9% after the government announced measures to stabilize markets.

The dollar slumped against developed and emerging currencies alike, in a tentative sign of reduced stress after the greenback’s steepest appreciation since the global financial crisis and longest winning streak since 2012. European bonds tracked Treasuries lower.

About $26 trillion has evaporated from equity markets since mid-February, and investors have been left sifting the wreckage and weigh the chances of a lasting rebound. On the one hand, Wall Street has begun to argue that liquidations are nearing an end with real-money investors like pension funds ready to step in, and there are signs of improvement in some of world’s regions that were hardest-hit by the virus. On the other, the number of infections globally continues to accelerate and many of the largest economies are grinding to a halt.

Tuesday’s gain in risk assets follows an unprecedented move by the Federal Reserve to backstop large swaths of the financial system. Still, key gauges of U.S. manufacturing and services in March fell the most on record, suggesting the deep toll the pandemic has already taken.

“Sentiment has improved, but to call it a turning point is too strong a word for now,” said James McCormick, global head of desk strategy at NatWest Markets. “It is more of a tug-of-war. Policy bazooka is in place, but will be fighting against very weak data and still worrying trends on Covid-19 data. We are more neutral on risk assets now.”

Elsewhere, emerging-market stocks jumped alongside their currencies. Gold extended recent a recent surge and industrial metals rallied.


##https://www.bloomberg.com/news/articles/2020-03-23/asian-stocks-look-to-steady-dollar-gains-markets-wrap?srnd=premium-asia

Posted by Keyman188 > 2020-03-25 08:16 | Report Abuse

DJIA...S&P500......Wild rebound & solid gain by more than 10%...

As I foresee...KLCI today will retest 1326 lvl.....

IF solid stand this level, next level will retest 1354 level.....

Posted by Keyman188 > 2020-03-25 10:20 | Report Abuse

KLCI easily surpassed 1325 just 15 min...

See today whether can touch another level...1354.....

Posted by Keyman188 > 2020-03-25 11:45 | Report Abuse

If strong support @ 1325 this few days...

No chance to go back 1220 & below............

Posted by Keyman188 > 2020-03-25 13:57 | Report Abuse

White House and Senate strike a deal on coronavirus stimulus bill

(PUBLISHED TUE, MAR 24 20207:26 AM EDTUPDATED MOMENTS AGO)

~ The White House and Senate leaders reached a deal early Wednesday on a massive $2 trillion coronavirus stimulus bill to combat the economic impact of the outbreak, NBC News reports.

~ Treasury Secretary Steven Mnuchin agreed to enhanced oversight of a $500 billion bailout fund that Democrats had criticized, according to a senior administration official.

~ One of the key issues that had yet to be resolved is the terms of the airline aid and oversight that comes with it, two sources said.


The White House and Senate leaders reached a deal early Wednesday on a massive $2 trillion coronavirus stimulus bill to combat the economic impact of the outbreak, NBC News reports.

On Tuesday, leaders in both parties had said that they were closing in on an agreement. Multiple people familiar with the situation told CNBC that they were still close to a deal, although talks continued as they worked through the text and hashed out final details. Two of the people had cautioned that talks could spill into Wednesday morning.

One of the key issues was the terms of the airline aid and oversight that comes with it, two of the people said. Democrats have pushed for a number of stipulations along with aid to the industry, including longterm bans on stock buybacks, limits on executive compensation, commitments not to furlough workers and board representation.

Meantime, President Donald Trump stressed in a press conference Tuesday that the money the U.S. lends “will be coming back” to it. The airlines have pushed for half of their aid in grants, arguing debt from loans would be too onerous.

One of the sources said there continued to be questions around oversight of the $500 billion fund that Republicans have proposed to support distressed companies. Treasury Secretary Steven Mnuchin has said the Federal Reserve could leverage the loans in the fund to offer up to $4 trillion in financing. The mechanics, though, are still in question, said the source.

Democrats, still angry over the leeway banks got in the 2008 bank bailout, have argued the fund gives the Treasury too much discretion. One option being considered is a weekly check-in with companies borrowing from the fund, the source said.

Still, House Speaker Nancy Pelosi, D-Calif., Senate Minority Leader Chuck Schumer and National Economic Council Director Larry Kudlow all spoke optimistically about the fund Tuesday. They said there are plans to add more oversight to that fund, with the addition of an oversight board and an inspector general.

“It will be completely transparent,” Kudlow said at a coronavirus task force briefing Tuesday at the White House.

Schumer had earlier in the day indicated in a speech on the Senate floor the fund was a key focus for Democrats.

Still, the two parties have worked already worked through a number of disagreements.

For the Democrats, that includes securing more funding for hospitals, and a state and local stimulus fund as part of their “Marshall Plan.” Schumer touted on the Senate floor unemployment insurance on steroids, which promised beneficiaries insurance for four months.

A draft bill from early Tuesday afternoon has had language stipulating a $350 billion fund for small businesses to mitigate layoffs and support payroll.

It also offered cash payments of up to $1,200 for individuals, $2,400 for married couples and $500 per child. Those amounts are reduced if an individual makes more than $75,000 or a couple makes more than $150,000.

President Donald Trump, describing the proposal as a $2 trillion package, said Tuesday that “we are working to pass the biggest and boldest financial relief package in American history.”


##https://www.cnbc.com/2020/03/24/coronavirus-updates-congress-gets-closer-to-a-deal-on-massive-stimulus-bill.html

Posted by Keyman188 > 2020-03-25 15:51 | Report Abuse

Too Late Now to Hedge Risks, $16 Billion Credit Manager Says

(March 25, 2020, 2:04 PM GMT+8)

If you didn’t already start hedging against the risk of a deep sell-off in credit markets last month, don’t bother now.

Ville Talasmaki, who helps manage about $16 billion of credit investments for Finnish financial group Sampo Oyj, says the warning signs had been plain for a while.

“There’s not much you can do to hedge yourself against the crisis anymore,” Talasmaki said by phone. “All the wise decisions should have been made in February and before that when you had all the warning signs and red flags waving in front of you.”

With panic setting in as the fallout of the coronavirus spreads, the market appears no longer to be functioning rationally. As a result, good-value corporate bonds have been being dumped indiscriminately, Talasmaki said.

For the risky end of the debt market -- high-yield bonds and leveraged loans -- “it’s brutal out there; overall, the picture is one in which “you’ve thrown out the baby with the bath water,” Talasmaki said.

Now, with historic stimulus packages unveiled by the European Central Bank and the Federal Reserve, there are signs that sentiment is improving. For higher rated credits in particular, the panic appears to have subsided.

“As long as the liquidity backstop by the ECB is credible, then the risk is low for this to become a full-blown risk or a catastrophe in Europe,” Talasmaki said.

The next step as an investor is to be ready to buy when the recovery sets in.

“History has taught us that the first investments after the crisis are the best ones,” Talasmaki said. “Ones where the issuer is forced to pay a higher price, a premium, for accessing the market.”


##https://www.bloomberg.com/news/articles/2020-03-25/too-late-now-to-hedge-risks-16-billion-credit-manager-says?srnd=premium-asia

Posted by Keyman188 > 2020-03-25 17:08 | Report Abuse

Purposely shy behind 1325 little bit to reserve for tomorrow....

KLCI just closed @ 1324.50...Wakakaka...Wakakaka.....

Tomorrow see you @ 1340....Friday see you @ 1354...........

Posted by Keyman188 > 2020-03-26 00:04 | Report Abuse

Former Fed Chairman Ben Bernanke sees ‘very sharp’ recession, followed by ‘fairly quick’ rebound

(PUBLISHED WED, MAR 25 20208:51 AM EDTUPDATED 2 HOURS AGO)

~ Former Federal Reserve Chairman Ben Bernanke expressed optimism about the longer-term picture for the U.S. economy.

~ While the country is in for a “sharp, short” recession,” he sees a “fairly quick rebound” ahead.

~ Bernanke guided the Fed during the financial crisis and accompanying Great Recession.


Former Federal Reserve Chairman Ben Bernanke sounded an optimistic tone on the longer-term state of the economy, predicting in a CNBC interview Wednesday that while the U.S. is facing an acute recession, it shouldn’t last.

“It is possible there’s going to be a very sharp, short, I hope short, recession in the next quarter because everything is shutting down of course,” he said on “Squawk Box.”

“If there’s not too much damage done to the workforce, to the businesses during the shutdown period, however long that may be, then we could see a fairly quick rebound.”

During the financial crisis that exploded in 2008, Bernanke guided the Fed through its efforts to save the economy. He was the first central bank chairman to pull its benchmark interest rate down to near zero, and the Bernanke Fed implemented a slew of programs that have been resurrected to deal with the current crisis.

While he guided the Fed through the financial crisis and accompanying Great Recession and is recognized authority on the Great Depression, he said the current situation bears only minor resemblance to those two periods.

“This is a very different animal from the Great Depression” which he said “came from human problems, monetary and financial shocks. This is has some of the same feel, some of the feel of panic, some of the feel of volatility that you’re talking about. It’s much closer to a major snowstorm or a natural disaster than a classic 1930′s-style depression.”

In fact, he said, the current situation is almost the opposite of the financial crisis, where problems in the banking system infected the broader economy. This time, issues in the broader economy brought on by the coronavirus are infecting the banks.

He stressed the important of getting the coronavirus itself under control so that policy can do its work.

“Nothing is going to work, the Fed is not going help, fiscal policy is not going to help if we don’t get the public health right, if we don’t solve the problem of the virus, of the infection, so making sure that the risk has declined sufficiently before put people back in the line of fire,” Bernanke said.

“So I think the public health is the most important one,” he added. “If we can get that straight, then we know how to get the economy working again. Monetary and fiscal policy can do their thing and we won’t have anything like the extended downturn we saw even, I don’t think, in the Great Recession, much less the Great Depression of the ’30s.”

Earlier Wednesday, St. Louis Fed President James Bullard expressed similar sentimentsabout the economy, telling CNBC he expects a big short-term hit but a strong rebound.

He praised the work being done by Chairman Jerome Powell and the rest of the current Fed.

The Powell Fed has pulled benchmark borrowing rates down to near-zero and implemented a slew of programs aimed at keeping liquidity flowing to the financial system and businesses.

“I think the Fed has been extremely proactive, and Jay Powell and his team have been working really hard and gotten ahead of this and shown they can set up a whole bunch of diverse programs that will help us keep the economy functioning during this shutdown period, so that when the all-clear is sounded, we will have a much better rebound than we otherwise would,” Bernanke said.



##https://www.cnbc.com/2020/03/25/former-fed-chairman-ben-bernanke-sees-very-sharp-recession-followed-by-fairly-quick-rebound.html

Posted by bnmacai > 2020-03-26 01:13 | Report Abuse

1500 tomorrow.

Posted by bnmacai > 2020-03-26 01:13 | Report Abuse

next week 1600

Posted by bnmacai > 2020-03-26 01:13 | Report Abuse

May will be at 1800

Posted by Keyman188 > 2020-03-26 09:43 | Report Abuse

No more huge selling pressure in the short term period....

See you...KLCI @ 1354...1388...soon...........

Posted by Keyman188 > 2020-03-26 12:37 | Report Abuse

Senate passes $2 trillion coronavirus stimulus package, sending it to the House (PUBLISHED WED, MAR 25 202011:31 PM EDTUPDATED 11 MIN AGO)

~ The Senate passes a $2 trillion economic relief package to respond to the coronavirus pandemic.

~ It now heads to the House, which hopes to approve it by Friday.

~ The legislation, approved as waves of layoffs hit workers and hospitals look for resources, may not be the last action Congress takes to help a reeling economy and health care system.


The Senate passed a historic $2 trillion coronavirus relief package Wednesday night, as it tries to stem the destruction the pandemic has brought to American lives and wallets.

The chamber approved the mammoth bill in a unanimous 96-0 vote after days of furious negotiations, partisan sniping and raised tempers on the Senate floor. The bill now heads to the House, which will push to pass it by voice vote Friday morning as most representatives are out of Washington.

“This is a proud moment for the United States Senate and for the country and we’re going to win this battle in the very near future,” Senate Majority Leader Mitch McConnell, R-Ky., told reporters after the vote.

The 880-page legislation includes direct payments to individuals, stronger unemployment insurance, loans and grants to businesses and more health care resources for hospitals, states and municipalities. It includes requirements that insurance providers cover preventive services for the coronavirus disease COVID-19.

The Senate rushed to pass the sweeping aid bill as data are expected to show a historic spike in unemployment claims after businesses across the country shuttered to try to slow the outbreak’s spread. Some hospitals have started to buckle under a flood of patients, asking for critical supplies such as masks and ventilators.

Coronavirus cases in the U.S. number more than 68,000, while deaths have now topped 1,000, according to data compiled by Johns Hopkins University.

The chamber approved the plan to combat the outbreak as the crisis started to thin its ranks. Sen. Rand Paul, R-Ky., did not vote after testing positive for COVID-19, and neither did GOP Sens. Mitt Romney and Mike Lee of Utah, both in isolation after contact with their colleague. Sen. John Thune, a South Dakota senator and second-ranking Republican, also missed the vote after feeling ill.

While the Senate took precautions Wednesday such as keeping votes open longer to reduce crowding, senators still huddled in groups and chatted.

Speaking before the chamber passed the bill, McConnell said the Senate would not return until April 20. However, he said lawmakers would be “nimble” as the evolving crisis could force further action to boost the American economy or health care system.

“If circumstances require the Senate to return for a vote sooner than April the 20th we will provide at least 24 hours of notice,” he said.

Before passing the bill, the Senate first rejected an amendment proposed by Sen. Ben Sasse, R-Neb., to cap unemployment insurance at a recipient’s previous wages. The bill adds $600 per week to the benefits a recipient would normally get for up to four months. Sasse’s amendment failed in a 48-48 vote.

The senator and three of his GOP colleagues threatened to delay passage of the legislation if they could not get a vote on an amendment. Sen. Bernie Sanders, I-Vt., then suggested he could hold up the bill’s approval if they did not back down from their opposition.

While the snag caused fears the bill would not pass, hitting U.S. stock indexes just before markets closed Wednesday, it ultimately did not stop the Senate from approving the proposal.

In a letter to colleagues Wednesday night, House Majority Leader Steny Hoyer said the chamber will convene at 9 a.m. Friday to consider the legislation. The Maryland Democrat said that “in order to protect the safety” of representatives and staff and “prevent the further spread of COVID-19,” he and House Minority Leader Kevin McCarthy, R-Calif., expect the House will take a voice vote.

“Members who want to come to the House Floor to debate this bill will be able to do so. In addition, we are working to ensure that those who are unable to return to Washington may express their views on this legislation remotely,” he wrote.

House approval would send the package to President Donald Trump’s desk. He has expressed support for the agreement his Treasury Secretary Steven Mnuchin negotiated with Senate Republicans and Democrats.

During a White House coronavirus briefing Wednesday, Trump said he would sign the legislation “immediately” after Congress passes it.


##https://www.cnbc.com/2020/03/25/senate-passes-2-trillion-coronavirus-stimulus-package.html

Posted by Keyman188 > 2020-03-26 20:57 | Report Abuse

Bursa Malaysia relaxes margin financing rules to ease forced selling pressure on market

(theedgemarkets.com / March 26, 2020 20:22 pm +08)


KUALA LUMPUR (March 26): Bursa Malaysia Securities Bhd has announced the temporary relaxation of margin financing rules to ease the pressure of forced selling on the market, amid the virus-driven equity rout.

“Due to uncertainties in the global as well as local market arising from the COVID-19 outbreak, selling pressures have impacted the share prices, resulting in forced selling pressure to many counters and affecting investors, especially those with margin accounts.

"In view of the above, and as part of the market management measures, the exchange will facilitate Participating Organisations (POs) to accord the appropriate flexibilities to their clients and also to manage the POs’ credit risks. The measures are aimed at mitigating the forced selling pressure on the market, as well as safeguarding investors’ interest in respect to those who have pledged their shares for financing," the exchange regulator said in a circular to POs this evening.

These flexibilities may also allow investors to provide other types of collateral for purposes of margin financing, as may be necessary, it said.

To facilitate these measures, it has temporarily modified the relevant provisions of the Rules and Directives of Bursa Malaysia.

In particular, Rule 7.30(12) - which dictates that the PO must liquidate the client’s margin account in the event that the equity in the account falls below 130% of the outstanding balance - has been modified to remove the mandatory liquidation requirement. So, the PO now has the discretion to decide whether to liquidate the margin account or otherwise, in accordance with its credit policy.

As such, the provision in Rule 7.30(14), which states that no further margin financing can be extended following the events stated in the rule above, has been waived for consistency.

Besides that, it is no longer mandatory for a PO to request for additional margin, and to impose haircuts on any collateral and securities purchased and carried in margin accounts upon the occurrence of: i) unusual rapid changes in value of the securities, ii) the non-existence of an active market for the securities, iii) suspension of the securities from trading, or, iv) no possibility of immediate liquidation for the securities.

“A PO will instead have the discretion to decide whether to request such additional margin or impose a haircut, in accordance with its credit policy,” it said. This is a modification to Rule 7.30(19).

The bourse also modified a paragraph which requires the assignment of zero value to all other types of collateral. Instead, a PO must now refer to its credit policy in assigning a value to other types of collateral, including bonds, collective investment schemes, unit trusts, gold and immovable properties.

The waiver and modification of these rulings will take effect tomorrow (March 27) until Sept 30, 2020.

The bourse also took note of the extended Movement Control Order (MCO) and encouraged all POs, which provide counter service to their clients and customers, to limit their respective counter service hours to between 10am to 3pm during business days.



##https://www.theedgemarkets.com/article/bursa-malaysia-relaxes-margin-financing-rules-ease-forced-selling-pressure-market

Posted by Keyman188 > 2020-03-27 11:44 | Report Abuse

What I expected KLCI.....towards 1354 today...

(I already told you @ 25/03/20).......chun or not chun you judge....




Posted by Keyman188 > Mar 25, 2020 5:08 PM | Report Abuse X

Purposely shy behind 1325 little bit to reserve for tomorrow....

KLCI just closed @ 1324.50...Wakakaka...Wakakaka.....

Tomorrow see you @ 1340....Friday see you @ 1354...........

Posted by Keyman188 > 2020-03-27 12:17 | Report Abuse

Today having special announcement by PM.......

KLCI very high chance break 1355 today........

Posted by Keyman188 > 2020-03-27 14:46 | Report Abuse

Trump says the US and China are ‘working closely together’ in fight against the coronavirus (PUBLISHED FRI, MAR 27 20201:49 AM EDTUPDATED 13 MIN AGO)

China and the U.S. aim to work more closely together in light of the spread of the coronavirus, leaders of both countries said in a phone call Friday Beijing time.

U.S. President Donald Trump said in a tweet that he spoke with his Chinese counterpart Xi Jinping “in great detail” about the COVID-19 pandemic, which has so far killed more than 24,000 people globally.

“China has been through much & has developed a strong understanding of the virus,” Trump said on Twitter. “We are working closely together. Much respect!”

The phone conversation followed a video conference meeting of G-20 leaders during which Xi gave a speech calling for greater international cooperation.

In the call with Trump, Xi said that U.S.-China relations are at a critical juncture, and hoped the U.S. would make substantial action in improving the relationship, according to a Chinese-language state media report translated by CNBC.

“The Chinese side is willing to continue to provide information and experience with the U.S. without reservation,” the report of Xi’s comments said.

The Chinese state media report of the call noted Trump said China’s experience gave him “great inspiration.”


##https://www.cnbc.com/2020/03/27/donald-trump-speaks-to-chinas-xi-jinping-on-coronavirus.html

Posted by Keyman188 > 2020-03-30 17:29 | Report Abuse

JPMorgan Says the Market Rout Is Probably Past Its Worst Now

(March 30, 2020, 12:21 PM GMT+8 Updated on March 30, 2020, 3:17 PM GMT+8)

~ Conditions for market stabilization, revival mostly met: JPM

~ Most risky assets should trade higher in next quarter: Normand


Strategists at JPMorgan Chase & Co. have concluded that most risk assets -- a universe that typically includes stocks and credit -- have seen their low points for the recession that’s gripped economies around the world.

Conditions that JPMorgan had set for market stabilization and revival have largely been met, with recession-like pricing, a reversal in investor positioning and extraordinary fiscal stimulus, strategists led by John Normand wrote in a note Friday. Coronavirus infection rates remain a “wild card,” as they remain high even if they’re “slowing” in the U.S. and Europe.

“Risky markets should remain volatile as long as infection rates create uncertainty about the depth and duration of the Covid recession, but enough has changed fundamentally and technically to justify adding risk selectively,” Normand wrote. “Most risky markets have probably made their lows for this recession, except perhaps oil and some EM currencies beset by debt-sustainability issues.”

Most risk assets should trade higher in the second quarter of the year, Normand said. He recommends that investors average into oversold markets, particularly those where central banks are buying directly. (Averaging into markets entails spreading out the purchases over time rather than diving in in one go.)

Not everyone sees the bottom as necessarily in.

Goldman Sachs Group Inc.’s David Kostin reiterated in a note Friday that he expects the market to turn lower in coming weeks. He cited a checklist for a sustained rally similar to Normand’s -- of slowing viral spread, evidence that fiscal and monetary policy stimulus is working, and a bottoming in investor positioning and flows.

Gavekal Research Ltd.’s Anatole Kaletsky said in a note Monday that it’s too early to buy equities, citing reasons including “surprisingly complacent” investor sentiment and historical data showing bear markets almost never end on a single massive sell-off without retesting the bottom.



##https://www.bloomberg.com/news/articles/2020-03-30/jpmorgan-says-the-market-rout-is-probably-past-its-worst-now?srnd=premium-asia

Posted by Keyman188 > 2020-03-30 17:33 | Report Abuse

UBS, HSBC Advise Top Clients to Buy Asia Stocks Amid Equity Rout

(March 30, 2020, 11:02 AM GMT+8 Updated on March 30, 2020, 11:36 AM GMT+8)

~ Consider structured products for Singapore bank shares: UBS

~ “We are quite near the bottom in Asian equities”: DBS’s Hou


The rout in Asian equity markets this year has not been for the faint-hearted. Yet, investment experts at private banks say it’s time for clients to indulge in a bit of bargain hunting.

Wealth managers such as UBS Group AG and DBS Group Holdings Ltd. are recommending clients dip their toes in structured products based on regional stocks, while Bank of Singapore Ltd. has upgraded Asia ex-Japan equities. Concerns about the health crisis’ economic repercussions have wiped out $5.5 trillion in Asian stock-market value since Jan. 20 when traders began reacting to virus fears. The region’s benchmark index, which snapped a four-day advance to fall 1.8% as of 11:35 a.m. in Singapore, is set for its worst quarter since 2008, led by energy shares.

While the past week’s rebound has failed to convince most investors that the market has hit a bottom, private banks are not sitting idle. Here’s what investment chiefs are recommending to clients.

UBS

“Look for oversold names,” Kelvin Tay, the Asia Pacific chief investment officer for UBS’s wealth-management unit, wrote in a note Wednesday. Historically low valuations for regional stocks excluding Japan are offering opportunities in companies related to online consumption, such as gaming, e-commerce and food delivery, he added. The Swiss bank is also recommending China property shares listed in Hong Kong, Japanese automation and machinery companies and 5G-related firms.

In an interview earlier this month, Tay said investors can consider structured products such as equity-linked notes and reverse convertible notes on Singapore bank stocks for lower “entry points.” “You are talking about banks yielding 6% and a tier-1 capital ratio of about 15% -- you can’t get it anywhere else in the world,” he said.

DBS

“We are quite near the bottom in Asian equities,” said Hou Wey Fook, DBS Bank’s chief investment officer, pointing to valuation indicators trading near historical lows, implied volatility levels, and “playbooks from SARS” and the global financial crisis. Within the region’s equities, the Singapore-headquartered bank favors China shares.

Clients have been investing in beaten-down Singapore real estate investment trusts and health-care stocks by purchasing securities or structured products enhancing yields, added Joseph Poon, group head of DBS Private Bank. He said there’s been an up-tick in clients’ trading volume this year.

HSBC

According to Patrick Ho, HSBC Private Banking’s chief market strategist for North Asia, investors still need to manage the “very weak economic and profit data of the coming weeks and months.” But in the meantime, the private bank is recommending companies with “above average” profitability, strong balance sheets, the ability to pay stable dividends and strong brand presence.

Ho said he has identified such firms in the consumer, technology and telecommunication sectors in Asia as well as China’s real estate.


##https://www.bloomberg.com/news/articles/2020-03-30/what-private-banks-are-telling-clients-about-asian-equities?srnd=premium-asia

Posted by Keyman188 > 2020-03-30 17:35 | Report Abuse

Waaahhh....suddenly most of the investment bank (JP Morgaon, UBS, DBS & HSBC) buy call equity after massive sell down....

Posted by Lucky81 > 2020-03-30 17:44 | Report Abuse

price support and share dumping

Posted by Lucky81 > 2020-03-30 17:45 | Report Abuse

be sceptical

Posted by Keyman188 > 2020-03-30 22:11 | Report Abuse

February pending home sales jump over 9% annually, ahead of major coronavirus impact

PUBLISHED MON, MAR 30 202010:00 AM EDT

~ Pending home sales, which measure signed contracts on existing homes, rose 2.4% in February compared with January. Sales were  up a steep 9.4% annually, according to the National Association of Realtors. 

~ “Numbers in the coming weeks will show just how hard the housing market was hit, but I am optimistic that the upcoming stimulus package will lessen the economic damage and we may get a V-shaped robust recovery later in the year,” said Lawrence Yun, NAR’s chief economist.


Homebuyer demand was strengthening markedly just before COVID-19 began its spread across the U.S.

Pending home sales, which measure signed contracts on existing homes, rose a stronger than expected 2.4% in February compared with January. Sales were  up a steep 9.4% annually, according to the National Association of Realtors. That is the highest pace in exactly three years.

“February’s pending sales figures show the housing market had been very healthy prior to the coronavirus-induced shutdown,” said Lawrence Yun, NAR’s chief economist. “Numbers in the coming weeks will show just how hard the housing market was hit, but I am optimistic that the upcoming stimulus package will lessen the economic damage and we may get a V-shaped robust recovery later in the year.”

Regionally, pending home sales in the Northeast rose 2.8% for the month and were 5.9% higher than a year ago. In the Midwest, they increased 4.5% monthly and 14.9% annually.

Pending home sales in the South were up just 0.1% monthly, but 7.1% annually. In the West, where home prices are highest, sales grew 4.6% for the month and jumped 10.8% from a year ago.

The spring housing market was set up to be one of the best since the last recession. Closed sales of existing homes  in February jumped 7% annually to the highest level since February 2007, according to the National Association of Realtors. Those closings were based on deals made in December and January. Signed contracts to buy newly built homes also soared in February, up 14% annually.

While it is impossible to know exact numbers, one estimate is that home sales this spring will drop 35% annually, according to Capital Economics. The market was already struggling with record low inventory, and now some sellers are de-listing their properties. They either don’t want people touring their homes or don’t wan to sell into a down market. 


##https://www.cnbc.com/2020/03/30/february-pending-home-sales-jump-over-9percent-annually-ahead-of-coronavirus-impact.html

Posted by Keyman188 > 2020-03-31 09:10 | Report Abuse

China says manufacturing activity expanded in March, topping expectations for a contraction

(PUBLISHED MON, MAR 30 20209:06 PM EDT)

~ China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak.

~ Analysts polled by Reuters had expected the official PMI to come in at 45 for the month of March, from a record low of 35.7 a month earlier.


~ China’s manufacturing activity slowed dramatically earlier this year as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease, formally known as COVID-19.


China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak.

Analysts polled by Reuters had expected the official PMI to come in at 45 for the month of March.

In February, the official PMI hit a record low of 35.7.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

Earlier this year, manufacturing activity slowed dramatically in China as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease, formally known as COVID-19.

On Monday, China’s Ministry of Industry and Information Technology said that as of March 28, the resumption of work rate for industrial enterprises was 98.6%, and the return of workers stood at 89.9%.

A private PMI survey by Caixin and IHS Markit will be released on Wednesday.

The Caixin/Markit survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion of big businesses and state-owned companies.


##https://www.cnbc.com/2020/03/31/china-reports-march-manufacturing-pmi-amid-coronavirus-outbreak.html

Posted by Keyman188 > 2020-03-31 09:58 | Report Abuse

KLCI heading to test 1355 level again...Global market lead by China Market due to surpass expectation of PMI....

Posted by ahbah > 2020-03-31 10:03 | Report Abuse

FOMO ... is the latest pandemic which is spreading like wild fire throughout the globe now !

Posted by Keyman188 > 2020-03-31 10:54 | Report Abuse

White House, Congress Weigh Next Stimulus With Virus Spreading

(March 31, 2020, 8:55 AM GMT+8 Updated on March 31, 2020, 10:21 AM GMT+8)

~ Officials consider aid for mortgage markets, travel industry

~ Pelosi says states and local governments will need more help


The White House and congressional Democrats are preparing for a fourth round of economic stimulus to get the U.S. through its coronavirus outbreak, even while they’re still arguing over the $2 trillion measure President Donald Trump signed Friday.

White House officials have compiled lists of requests from government agencies totaling roughly $600 billion, according to people familiar with the matter. The proposals include more state aid as well as financial assistance for mortage markets and the travel industries.

House Speaker Nancy Pelosi told reporters on Monday that Democrats are “collecting information, taking inventory” on what might be needed in another round of stimulus. She also indicated states and local governments need more federal assistance, and said there could be further direct payments to everyday Americans.

And in an interview with the New York Times published on Monday, she indicated that another possible move was getting rid of the limit on state and local tax deductions, or SALT, that was part of the 2017 tax overhaul and affects California, Pelosi’s home state, and New York.

But a spokesman for Chuck Grassley, an Iowa Republican and chairman of the Senate Finance Committee, dismissed the idea as “a nonstarter.”

“Millionaires don’t need a new tax break as the federal government spends trillions of dollars to fight a pandemic.” said the spokesman, Michael Zona.

The U.S. outbreak isn’t expected to peak for another two weeks, according to projections by the Institute for Health Metrics and Evaluation at the University of Washington, and the president has urged Americans to continue “social distancing” practices that have devastated the economy until May.

Trump said early Monday that he’s considering hazard pay for health care professionals in a subsequent bill. He said Sunday that he’s assigned the Treasury and Labor secretaries to work on restoring a tax break for corporate restaurant spending that was repealed as part of his 2017 tax overhaul. Such a change stands to benefit the president’s company, the Trump Organization, which rents space to restaurants at many of its resort properties.

Many of the priorities Pelosi outlined for a fourth round on Monday were part of an alternative stimulus bill House Democrats proposed last week, but were rejected by Senate leaders in negotiations with Trump’s administration.

Senate Impeachment Trial Of President Trump
Ted CruzPhotographer: Stefani Reynolds/Bloomberg
There’s bipartisan momentum building for another stimulus measure in Congress. Senator Ted Cruz, a Texas Republican, said Monday on Bloomberg Television that “if the crisis continues for substantially longer I have no doubt that the Congress will have to act again.”


##https://www.bloomberg.com/news/articles/2020-03-31/white-house-congress-weigh-next-stimulus-with-virus-spreading?srnd=premium-asia

Posted by Keyman188 > 2020-03-31 11:43 | Report Abuse

Larry Fink says economy will recover from coronavirus, ‘tremendous opportunities’ in markets

(PUBLISHED MON, MAR 30 20204:00 PM EDTUPDATED 3 HOURS AGO)

~ Larry Fink, CEO of the world’s biggest asset manager BlackRock, told shareholders that the economy will recover from the coronavirus pandemic, and when it does, there will be “tremendous opportunities” to be had.

~ “In my 44 years in finance, I have never experienced anything like this,” FInk said in an annual letter to shareholders, citing the mounting cost of the virus to human life, markets and businesses small and large.

~ “As dramatic as this has been, I do believe that the economy will recover steadily, in part because this situation lacks some of the obstacles to recovery of a typical financial crisis,” Fink said.


Larry Fink, CEO of the world’s biggest asset manager BlackRock, told shareholders that the economy will recover from the coronavirus pandemic, and when it does, there will be “tremendous opportunities” to be had.

“In my 44 years in finance, I have never experienced anything like this,” Fink said in an annual letter to shareholders, citing the mounting toll of the virus to human life, markets and businesses small and large.

“As dramatic as this has been, I do believe that the economy will recover steadily, in part because this situation lacks some of the obstacles to recovery of a typical financial crisis,” Fink said. “Central banks are moving quickly to address problems in credit markets, and governments are now acting aggressively to enact fiscal stimulus.”

Late last week, President Trump signed a historic $2 trillion stimulus bill to cushion the economic blow from the pandemic. The law expands unemployment benefits, sends $1,200 checks to individuals, offers loans to small businesses and includes a $500 billion Fed program to prop up corporations. The move follows a series of actions from the Federal Reserve to stabilize the financial markets that companies and lenders rely on.

“At BlackRock, we take a long-term view of markets, and we take a long-term view in the way we run our company,” he said. “The world will get through this crisis. The economy will recover. And for those investors who keep their eyes not on the shaky ground at our feet, but on the horizon ahead, there are tremendous opportunities to be had in today’s markets.″

BlackRock manages $7.4 trillion for clients around the world and has the industry’s biggest ETF franchise. The furious decline in stock markets this month have created an opportunity for some clients to move more into equities, Fink said. He cautioned that it is “impossible” to know if markets have bottomed and that heavily indebted companies will struggle in the weeks ahead.

“For some clients, the recent sell-off created an attractive opportunity to rebalance into equities,” Fink said. “Indeed, many of our clients – even those who generally have a heavy allocation to fixed income due to their risk profiles – are looking to increase their equity allocation in this market.”


##https://www.cnbc.com/2020/03/30/larry-fink-says-economy-will-recover-from-coronavirus.html

Posted by Keyman188 > 2020-03-31 17:17 | Report Abuse

If tonight DJIA & S&P500 no big deal with green closing....

Tomorrow very very high possibility can break 1354 level & heading to test 1388 level..........

Happy Trading All !!!!!!!!!!!!!!!!!!!...............

Posted by Keyman188 > 2020-04-04 23:10 | Report Abuse

Bilateral friendship: Malaysia & China join forces to save economy

##https://www.enanyang.my/news/20200404/白天双边友好汇集力量-br马中联手救经济/

Posted by firehawk > 2020-04-04 23:40 | Report Abuse

If tonight DJIA & S&P500 no big deal with green closing....

Tomorrow very very high possibility can break 1354 level & heading to test 1388 level..........

--------------------------------------------------

seemed like making a correct prediction is not easy .....

although very very high posibility!

Posted by Keyman188 > 2020-04-06 08:06 | Report Abuse

Bill Gates Says Virus Death Toll May Not Reach Experts’ Worst Case

(April 6, 2020, 2:58 AM GMT+8)

The coronavirus death toll in the U.S. could be “well short” of recent estimates from top health officials if social distancing measures are done properly, billionaire philanthropist Bill Gates said Sunday.

The Microsoft Corp. co-founder has called in recent days for a national lockdown to control the spread of the Covid-19 virus, something the U.S. has fallen short of so far.

Gates spoke as experts, including Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health, predicted a deadly week for the U.S., warned the pandemic isn’t yet under control, and suggested it could take on a seasonal nature.

Members of President Donald Trump’s health team last week suggested between 100,000 and 240,000 deaths over the next two months from the coronavirus pandemic. Gates said that wasn’t inevitable.

“If we get the testing fixed, we get all 50 states involved, we’ll be below that. Of course, we’ll pay a huge economic price,” added Gates, whose net worth is $97 billion, according to the Bloomberg billionaires list, making him the world’s second-richest person.

On CBS’s “Face the Nation,” Fauci joined Trump and Surgeon General Jerome Adams in predicting a rough week to two weeks for the U.S. as rising caseloads strain health resources in some areas and deaths continue to rise.

Bad Week
“This is going to be a bad week,” Fauci said. “Things are going to get bad and we need to be prepared for that. It is going to be shocking to some.”

Within a week or slightly more, the U.S. coronavirus curve should start to flatten, Fauci predicted.

Coronavirus cases in the U.S. surpassed 324,000 on Sunday, the world’s highest, with more than 9,000 deaths, according to figures from Johns Hopkins University.

Scott Gottlieb, former commissioner of the U.S. Food and Drug Administration, said the U.S. still lacks an “all-hands-on-deck approach” to vaccine or treatment development for Covid-19.

Absent that, there’s little hope for a “V-shaped recovery” or for the economy to rebound to more than 80% of potential, Gottlieb said on CBS.

“We need to prepare for what it looks like when you have a slower economy and more people unemployed in the fall,” said Gottlieb, special partner at New Enterprise Associates, a venture capital firm that invests in the health-care and biotech sectors.

“It is fair to say things won’t go back to truly normal until we have a vaccine,” Gates said on Fox.


##https://www.bloomberg.com/news/articles/2020-04-05/gates-says-virus-death-toll-may-not-reach-experts-worst-case?srnd=premium-asia

Posted by Keyman188 > 2020-04-06 08:08 | Report Abuse

US future early morning jumped by 300++ point after Bill Gates had commented the current Covid-19 circumstances....

Not bad......Bill Gates just talk a few words also can twist market turn to positive....

Posted by Keyman188 > 2020-04-06 08:22 | Report Abuse

Stocks are set to jump at Monday’s open, Dow futures rise more than 400 points (PUBLISHED SUN, APR 5 20206:04 PM EDTUPDATED MOMENTS AGO)

U.S. stock futures rose on Sunday night as Wall Street tried to recover from another decline last week while investors shook off rising tensions between Saudi Arabia and Russia.

Dow Jones Industrial Average futures traded more than 400 points higher, or 2.1%. S&P 500 and Nasdaq 100 futures also climbed more than 2%.

Last week, the major averages posted their third weekly decline in four. The Dow slid 2.7% while the S&P 500 lost 2.1%. The Nasdaq Composite closed last week down 1.7%. Stocks are also deep in bear-market territory as concerns over the coronavirus outbreak have virtually shut down the global economy and have dampened sentiment around corporate profits.

However, some on Wall Street think the market could start to turn a corner soon.

Billionaire investor Bill Ackman, founder of Pershing Square Capital Management, said in a series of tweets he is “beginning to get optimistic.” He said cases in New York, a hot spot for the coronavirus in the U.S., “appear to be peaking” while some treatments “appear to help.”

“If this is true, the severity and death rate could be much lower than anticipated, and we could be closer to herd immunity than projected,” Ackman also said. “While it is hard to be positive when we know that tens of thousands more will die and many more will get severely sick, I have no choice but to be more optimistic about the intermediate future based on the data and facts I have seen recently.”

Last month, Ackman called for the U.S. to completely shut down for 30 days as a way to curb the coronavirus outbreak. “Hell is coming,” Ackman told CNBC’s “Halftime Report” on March 18.

The number of coronavirus-related hospitalizations has fallen slightly in New York while discharges are up, Gov. Andrew Cuomo said Sunday. Italy also reported Sunday its smallest daily increase in deaths in two weeks.

To be sure, the number of coronavirus cases continues to increase sharply. More than 1.2 million coronavirus cases have been confirmed, according to Johns Hopkins University. The U.S. is by far the country with the most cases at over 330,000. On Saturday, Trump warned “there will be a lot of death,” noting the U.S. faces its “toughest week” in its fight against the virus.

Marc Chaikin, CEO of Chaikin Analytics, advises investors to remain cautious.

“Until the spread of the COVID-19 virus peaks and we are closer to a reopening of the U.S. economy, sell rallies and sit on your cash,” said Chaikin. “If we are fortunate to see an effective treatment there will be plenty of capital gains opportunities. For me, capital preservation is more important than capital gains.”

Stock futures shook off a massive decline in oil prices as a key meeting between major oil producing countries was delayed. U.S. crude fell more than 7% to $26.12 per barrel.

The meeting between OPEC and Russia was scheduled for Monday, but sources familiar with the matter told CNBC it will “likely” take place Thursday. The delay comes after President Donald Trump told CNBC last week he expected both countries to cut production by up to 15 million barrels.

Trump’s comments helped U.S. crude post its biggest-ever weekly gain. West Texas Intermediate futures rallied 12% last week. WTI also jumped 24% on Thursday for its best day on record, lifting equity prices that day as concern about financial and job losses in the energy sector eased.

Crude has taken a beating this year as Saudi Arabia-led OPEC and Russia failed to reach a deal on production cuts while the global spread of the coronavirus dampens the demand outlook for oil. Year to date, WTI has lost more than half of its value.


##https://www.cnbc.com/2020/04/05/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-04-06 08:33 | Report Abuse

Suddenly US (DJIA) big jumped by 600++ point....

What happen ???................

Posted by Keyman188 > 2020-04-06 08:42 | Report Abuse

Suddenly global market u-turn today...

DJIA future big jumped by almost 700 poit....

Nikkei 225 up 500++ point....

Australia up 160++ point....

Why suddenly big big u-turn???..........

Posted by Keyman188 > 2020-04-06 12:27 | Report Abuse

Maybank lead the market moving up today............

Posted by Keyman188 > 2020-04-06 13:43 | Report Abuse

Russia and Saudi Arabia are ‘very, very close’ to an oil production deal, says Russia’s Dmitriev (PUBLISHED MON, APR 6 20201:32 AM EDT)

~ The deal will bring “so much important stability to the market” and the two sides are “very close,” said Kirill Dmitriev, CEO of Russia’s sovereign wealth fund RDIF.

~ A virtual meeting between OPEC and its allies was scheduled to happen on Monday, but is now “likely” to take place on Thursday instead, sources told CNBC.

~ Dmitriev also said Russia is working closely with U.S. authorities to have American producers participate in the output cut.


Russia and Saudi Arabia are “very, very close” to a deal on oil production cuts, according to the chief executive of Russia’s sovereign wealth fund RDIF.

“I think the whole market understands that this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close,” said Kirill Dmitriev, CEO of the Russian Direct Investment Fund.

A virtual meeting between OPEC and its allies was scheduled to happen on Monday, but is now “likely” to take place on Thursday instead, sources familiar with the matter told CNBC. Reductions in oil output were expected to be discussed at the meeting.

Oil futures both fell on Monday morning in Asia, with U.S. West Texas Intermediate crude down 3.63% at $27.31 and Brent crude losing 2.05% to trade at $33.41.

Dmitriev pointed to comments by Russian President Vladimir Putin last week when he proposed a combined production cut of 10 million barrels per day, according to a Reuters report.

″(Putin) talked about how important this oil deal is, so Russia is committed,” Dmitriev told CNBC’s “Capital Connection” on Monday.

He added that Russia is working closely with U.S. authorities to have American producers participate in the output cut.

“I think it’s Russia, Saudi Arabia, U.S., other countries that need to step in to stabilize the markets and to bring stability in the world that is about to see probably the greatest recession ever.”


##https://www.cnbc.com/2020/04/06/russia-saudi-arabia-are-very-close-to-an-oil-production-deal-rdif.html

Posted by Keyman188 > 2020-04-06 14:02 | Report Abuse

“People have to remember that, if you wait around for these theme parks (Disney Theme Park) to go back to full scale, up and running, with everything, all the people coming back, the stocks will have already bounced,” Maley added. “Always remember that the stocks always bounce long before the fundamentals go back to normal.”


##https://www.cnbc.com/2020/04/03/disney-shares-are-a-buy-if-they-fall-to-this-level-technical-analyst-says.html?&qsearchterm=matt%20maley



^^^I love this Fund Manager comments.......

Posted by Keyman188 > 2020-04-06 14:14 | Report Abuse

Stocks are set to jump, with Dow futures pointing to 900 point gain

PUBLISHED SUN, APR 5 20206:04 PM EDTUPDATED MOMENTS AGO

U.S. stock futures rose on early Monday morning as Wall Street tried to recover from another decline last week.

Dow Jones Industrial Average futures traded 872 points higher, implying a gain of about 906 points at the Monday open. S&P 500 and Nasdaq 100 futures also pointed to robust Monday opening gains for the two indexes.


##https://www.cnbc.com/2020/04/05/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-04-06 22:32 | Report Abuse

El-Erian foresees more volatility but finds Monday’s rally on medical news encouraging

PUBLISHED MON, APR 6 20209:11 AM EDT

~ Economist Mohamed El-Erian said he finds Monday’s rally in stock futures encouraging because the optimism is fueled by developments around the coronavirus.  

~ “I am feeling better. We’re having a bounce on medical issues, not on policy issues, not on technical issues,” El-Erian told CNBC.

~ “I’ve always said it’s a medical solution that forms a bottom for this market,” he added.


Economist Mohamed El-Erian said he finds Monday’s rally in stock futures encouraging because the optimism is fueled by positive developments around the coronavirus.  

“I am feeling better,” El-Erian said on CNBC’s “Squawk Box.” “We’re having a bounce on medical issues, not on policy issues, not on technical issues.”  

U.S. stock futures were indicating a strong open Monday: Dow futures pointed to a gain of more than 700 points, up more than 3%. Futures for the S&P 500 and Nasdaq also were pointing to similar percentage gains. 

Stocks finished lower last week, their third weekly decline in four. The Dow finished down 2.7% while S&P 500 lost 2.1%. 

Some positive signs around the progression of the COVID-19 pandemic emerged over the weekend, including the first daily decline in coronavirus-related deaths in New York, the epicenter of the U.S. outbreak. Slowing death rates in Europe also offered hope to investors. 

“It’s about people, fewer people dying, fewer people getting infected,” El-Erian said. “I’ve always said it’s a medical solution that forms a bottom for this market.” 

El-Erian, chief economic advisor at Allianz, said the second reason he feels good about Monday’s bounce is because it shows “the ability of this market to get ahead of what the economists are saying.” 

El-Erian has for weeks been urging investors to approach the coronavirus with caution, pointing to unprecedented levels of uncertainty. Last week, he told CNBC the market could still set new lows.

El-Erian on Monday repeated his belief that more uncertainty lies ahead, saying Monday’s positive moves are “a bright spot in an otherwise still gloomy picture.”  

“I think that we need more than just one spot. I still think that the overall paradigm is going to be like last week — volatile around a downward trend,” he said. 


##https://www.cnbc.com/2020/04/06/coronavirus-el-erian-encouraged-by-mondays-rally-on-medical-news.html

Posted by Keyman188 > 2020-04-07 00:52 | Report Abuse

Yellen says the Fed doesn’t need to buy equities now, but Congress should reconsider allowing it

PUBLISHED MON, APR 6 202010:54 AM EDTUPDATED AN HOUR AGO

~ “I frankly don’t think it’s necessary at this point ... but longer term it wouldn’t be a bad thing for Congress to reconsider the powers that the Fed has with respect to assets it can own,” Yellen told CNBC’s Sara Eisen.

~ Normally, the Fed is only allowed to own government debt and agency debt with government backing, Yellen said.

~ The central bank has also received special powers during the coronavirus outbreak to buy other assets such as corporate debt through exchange-traded funds.

~ Still, “the Fed ... is far more restricted than most other central banks,” Yellen said.


Former Federal Reserve Chair Janet Yellen thinks the central bank is not in a position where it needs to buy equities but thinks lawmakers should give it more leeway for the future. 

“It would be a substantial change to give the Federal Reserve the ability to buy stock,” Yellen told CNBC’s Sara Eisen on “Squawk on the Street.” “I frankly don’t think it’s necessary at this point. I think intervention to support the credit markets is more important, but longer term it wouldn’t be a bad thing for Congress to reconsider the powers that the Fed has with respect to assets it can own.”

Normally, the Fed is only allowed to own government debt and agency debt with government backing, Yellen said. The central bank has also received special powers during the coronavirus outbreak to buy other assets such as corporate debt through exchange-traded funds. The Fed has also cut rates to zero and launched an unlimited quantitative easing program to help stabilize markets. Still, the Fed would need additional authority to buy stock exchange-traded funds. 

Other central banks — including the Bank of Japan — have been purchasing some of their countries’ stocks to mitigate the recent carnage sparked by the coronavirus outbreak. 

“The Fed ... is far more restricted than most other central banks,” Yellen said. “Even with respect to owning corporate debt, the Fed is not allowed to directly own corporate debt and most other central banks are.”

Yellen’s remarks came as the number of coronavirus cases around the world nears 1.3 million, according to Johns Hopkins University. In the U.S. alone, more than 330,000 cases have been confirmed. 

To be sure, New York — the state with the most confirmed cases — reported fewer deaths on Sunday than on Saturday as well as a decline in hospitalizations. Some countries in Europe also saw a slower death rate over the weekend. 

This helped lift equity prices around the world. However, even after Monday’s rally of more than 4% for the S&P 500, the broad market average is still down over 20% from a record set late February. The equity landscape outside of the U.S. is just as grim. The iShares MSCI ACWI ex-U.S. (ACWX) ETF, which tracks stocks outside of the U.S., is down more than 20% year to date. 


##https://www.cnbc.com/2020/04/06/yellen-says-the-fed-doesnt-need-to-buy-equities-now-but-congress-should-reconsider-allowing-it.html

Posted by Keyman188 > 2020-04-07 00:54 | Report Abuse

Stock market live updates: Dow rises 1,200, up 20% from low, Yellen’s shocking forecast

PUBLISHED MON, APR 6 20207:46 AM EDTUPDATED MOMENTS AGO



##https://www.cnbc.com/2020/04/06/stock-market-live-updates-dow-futures-up-750-nasdaq-futures-up-4percent-bottom-in.html

Posted by Keyman188 > 2020-04-07 17:22 | Report Abuse

Buy Malaysian stocks at rare crisis-level valuations, Areca says

(Bloomberg / Bloomberg April 07, 2020 16:42 pm +08)


KUALA LUMPUR (April 7): Value has emerged in Malaysian equities battered by the global pandemic, offering investors a chance to hunt for bargains, according to Areca Capital Sdn Bhd Chief Executive Officer Danny Wong Teck Meng.

“It is a rare opportunity to pick up stocks at crisis-level valuations without being in an actual financial crisis,” he said. “Pandemics come and go, markets eventually go past it and move on.”

The FTSE Bursa Malaysia KLCI Index sank 15% in the first quarter amid a global rout. Valuations are near their cheapest in almost a decade. The gauge has climbed more than 11% from a March 19 low. Local institutional funds bought a net US$1.1 billion of shares in March while foreign investors were net sellers, stock exchange data show.

He also said there will unlikely be a major sell-down of foreign funds going forward as overseas holdings are at an all-time low following a streak of outflows over the past few years. International funds have dumped a net US$1.9 billion worth of shares so far this year, Bloomberg-compiled data show.

Malaysia’s market is quite attractive, with the KLCI now priced in two standard deviation below 10-year mean in terms of price-to-book value and price-to-earnings ratios, Wong said.


##https://www.theedgemarkets.com/article/buy-malaysian-stocks-rare-crisislevel-valuations-areca-says

Posted by Keyman188 > 2020-04-09 00:38 | Report Abuse

Cramer says he and hedge fund billionaire David Tepper are confused by the market’s recent rally

PUBLISHED WED, APR 8 202011:30 AM EDTUPDATED MOMENTS AGO

~ CNBC’s Jim Cramer said Wednesday that he and hedge fund billionaire David Tepper are not sure why the stock market has rallied in recent days.

~ “I spoke to Dave Tepper yesterday and we were both kind of marveling, ‘Jeez it’s been bullish. Why?’” Cramer said on “Squawk on the Street.”

~ “There’s a curious disconnect between when you speak to the companies, most of which are closed, and what’s going on in the market,” he added.


CNBC’s Jim Cramer said Wednesday that he and hedge fund billionaire David Tepper are not sure why the stock market has rallied in recent days while the coronavirus pandemic continues to upend daily life in the U.S.

“I spoke to Dave Tepper yesterday and we were both kind of marveling, ‘Jeez it’s been bullish. Why?’” Cramer recalled on “Squawk on the Street.”

Cramer’s comments came shortly after Wednesday’s open on Wall Street, which saw the Dow Jones Industrial Average rallying one day after a more than 900-point advance completely fizzled by the close.

While still in a bear market, the Dow as of Tuesday’s close gained about 24% since its coronavirus-driven March 23 low. A bear market is defined as a decline of at least 20% from recent 52-week highs. The Dow hit an all-time high in February before state stay-at-home orders around the nation went into effect.

In the past couple weeks, investors have been responding to bits of optimistic news in the fight against the coronavirus, including recent signs that new cases in the U.S. may be starting to slow.

“There’s a curious disconnect between when you speak to the companies, most of which are closed, and what’s going on in the market,” Cramer said. “I keep thinking maybe the market knows something we don’t.”

Cramer has often referenced interviewing Tepper in early February as a key moment in his understanding of the coronavirus. The founder of Appaloosa Management said then that the virus could be a “game-changer” for financial markets.

The “Mad Money” host also expressed caution Tuesday about the market’s bounce, contending he thought Wall Street was more optimistic about a return to something resembling normal life than most Americans. 

“There is a happy days are here again Wall Street impression versus what I hear ... people saying, ‘Can I get a mask? How do I get a mask? Do I want an N95?’” Cramer said then. “I don’t want to risk it. I think America doesn’t want to risk it.”


##https://www.cnbc.com/2020/04/08/cramer-says-he-and-david-tepper-confused-by-the-market-recent-rally.html

Posted by Keyman188 > 2020-04-09 08:37 | Report Abuse

Today "Kosong" candlestick patterns........

Be Alert...................................

Posted by Keyman188 > 2020-04-09 22:04 | Report Abuse

Stock rally builds steam to end the week, Dow now up 500 points

PUBLISHED WED, APR 8 20206:06 PM EDTUPDATED MOMENTS AGO

Stocks jumped on Thursday after the Federal Reserve gave more details on how it will support the economy amid the coronavirus pandemic. 

The Dow Jones Industrial Average jumped 500 points, or 2.1%. The S&P 500 gained 2% while the Nasdaq Composite advanced 1.6%. Thursday’s gains put the major averages on pace for strong weekly gains. The U.S. stock market will be closed Friday due to Good Friday. 

The Fed announced as slew of programs, including loans geared towards small and medium sized businesses, that will total up to $2.3 trillion. The central bank also gave more details on its plans to buy investment-grade and junk bonds. 

“This Fed is the most aggressive Fed. They do not want to be known as the reason why we went into a depression,” CNBC’s Jim Cramer said on “Squawk Box” on Thursday. “I’m very impressed. The Fed is on its game and this is what is needed because we got to fight off a depression, we got to get America open for business.”

Thursday’s announcement was enough to outweigh another massive jump in weekly jobless claims. 

More than 6 million Americans filed for unemployment benefits last week. Economists expected an increase of 5 million. The latest data built on the record-shattering prior two readings of 6.6 million and 3.3 million. 

Major weekly gains

The Dow was up more than 12.9% for the week after Thursday’s open, putting the 30-stock average on pace for its biggest weekly gain since 1938. The S&P 500 was up 12.1% week to date, on pace for its best week since 2008. The Nasdaq had gained 10.9% and was headed for its best weekly performance since 2008. 

Wall Street’s weekly surge comes amid increasing hope that the situation around the coronavirus was improving. In recent days, the number of new daily confirmed cases has dropped globally and in the U.S. New York state has also reported a decline in its virus-related hospitalization rate. 

But some believe that stocks are now getting ahead of themselves and investors should exercise caution. 

“I think this is kind of buy the rumor and potentially we sell the news when reality sets in of what we are going to see what’s on the other side,” billionaire investor Mark Cuban said Wednesday on CNBC’s “Closing Bell.” 

“I think people are naturally optimistic right now in terms of the market. I just don’t think they’re really factoring in what we’re going to see on the other side,” he added.

After Thursday’s rally, the Dow is up more than 30% from its March low and the Nasdaq is down 9% this year.

“The stock market is at a very uncertain point now. The impact of the coronavirus on future earnings is yet to be determined. We aren’t out of the woods,” said Nancy Davis, chief investment officer at Quadratic Capital.


##https://www.cnbc.com/2020/04/08/stock-market-futures-open-to-close-news.html

Posted by Jokers2020 > 2020-04-09 22:07 | Report Abuse

Bull market is back..get ready

Posted by Keyman188 > 2020-04-09 22:17 | Report Abuse

Powell says the economic recovery can be ‘robust’ after the coronavirus is contained

(PUBLISHED THU, APR 9 202010:00 AM EDTUPDATED MOMENTS AGO)

Federal Reserve Chairman Jerome Powell said Thursday that the economic rebound following the coronavirus-induced shutdown “can be robust” despite the sharp downturn.

In the meantime, he said the central bank is committed to doing whatever it can to support the flow of cash to businesses and households both through a plethora of financing programs and by keeping interest rates anchored near zero.

Powell spoke during a webinar for the Brookings Institution the same morning that the Fed announced a new $2.3 trillion financing initiative directed at small and larger businesses as well as households and state and local governments.

“At the Fed, we are doing all we can to help shepherd the economy through this difficult time,” he said in prepared remarks. “When the spread of the virus is under control, businesses will reopen, and people will come back to work. There is every reason to believe that the economic rebound, when it comes, can be robust.”

The economy received more bad news Thursday morning as weekly jobless claims hit 6.6 million, just a shade below the previous week’s record high.

Nevertheless, Powell pointed out that the economy has been strong before prevention efforts aimed at halting the coronavirus spread put a large share of the U.S. productive capacity offline.

“We entered this turbulent period on a strong economic footing, and that should help support the recovery,” he said. “In the meantime, we are using our tools to help build a bridge from the solid economic foundation on which we entered this crisis to a position of regained economic strength on the other side.”

But he added that while the Fed has worked to provide loans, Congress likely will have to provide direct cash injections to those areas of the economy that need it.

He also reiterated the Fed’s pledge to keep borrowing costs low as the efforts to stabilize the economy and subdue the virus continue.

“We have also committed to keeping rates at this low level until we are confident that the economy has weathered the storm and is on track to achieve our maximum-employment and price-stability goals,” he said.


##https://www.cnbc.com/2020/04/09/fed-chair-powell-says-the-economic-recovery-can-be-robust-after-coronavirus.html

Posted by Keyman188 > 2020-04-09 22:54 | Report Abuse

Oil jumps 12% amid report Saudi Arabia and Russia have reached a deal, cut could reach 20 million barrels per day

PUBLISHED THU, APR 9 20208:59 AM EDTUPDATED MOMENTS AGO

Oil prices jumped on Thursday on reports that Saudi Arabia and Russia have reached a deal on a deep output cut, according to Reuters which cited two sources, and that cuts could reportedly be as high as 20 million barrels per day.

The reported deal comes as a virtual meeting between OPEC and its allies, known as OPEC+, kicked off in which some of the world’s largest producers were set to discuss production policy as the coronavirus pandemic saps demand for crude.

U.S. West Texas Intermediate jumped 12% to trade at $28.36 per barrel, while international benchmark Brent crude rose 8.5% to trade at $35.79 per barrel.

“We’re optimistic that they’ll reach an agreement between the Saudis and Russians in an effort to stabilize the markets,” U.S. Energy Secretary Dan Brouillette said Thursday on CNBC’s “Squawk Box” ahead of the meeting. “I think they can easily get to 10 million, perhaps even higher, and certainly higher if you include the other nations who produce oil, nations like Canada and Brazil and others. Easily, easily done,” he added.

The virtual meeting, which was initially planned for last Monday, began around 10 a.m. ET. President Donald Trump had fueled hopes of a cut far larger than any deal OPEC+ has ever agreed on before, suggesting the energy alliance could take between 10 million to 15 million barrels of crude off the market.

The meeting comes as relations between some of the world’s largest producers has grown fraught, and Saudi Arabia and Russia have signaled that any cut would need to include action from non-OPEC nations such as the U.S., Canada and Norway.

“OPEC+ is trying mightily to cobble together a sizable production cut, and they are in full spin mode to try and rally prices,” Again Capital’s John Kilduff told CNBC. The “teleconference will be a make-or-break moment for the oil market. The math on a 10 million barrel per day cutback, which is the minimum necessary to stabilize the situation, is almost impossible to compute.”

Energy ministers from the Group of 20 major economies will convene for their own extraordinary meeting on Friday, in which Energy Secretary Dan Brouillette will participate.

The G-20 presidency said Tuesday that the meeting would be held “to foster global dialogue and cooperation to ensure stable energy markets and enable a stronger global economy.”

When it comes to U.S. energy companies, Trump has commented that market forces will prevail, and on Wednesday said that producers have “already cut way back.” Brouillette echoed this on Thursday, telling CNBC that the “demand downturn has led to production cuts in the United States of about 2 million barrels per day thought the reminder of 2020.”

RBC global head of commodities research Helima Croft said she believes the chances “are greater than even” that “a broad framework agreement to curb output by a big headline number” can be achieved, but noted that “the situation remains extremely fluid.” 

“There are several land mines lurking right below the surface that could still blow up the negotiations at the 11th hour,” she said in a note to clients Thursday.

But even if a deal is reached, many argue that prices will stay lower for longer due to the unprecedented demand destruction caused by the coronavirus. In other words, the supply side is a secondary story to the demand hit.

“Even if a production-cut agreement is reached, which will surely give prices a short-term boost, we believe the enthusiasm will subside at some point and the reality of the size of the demand’s imbalance will eventually hit the market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy.


##https://www.cnbc.com/2020/04/09/oil-jumps-ahead-of-make-or-break-opec-meeting.html