Posted by Keyman188 > 2020-06-07 23:45 | Report Abuse

温兴提醒,见好就收✋......  

Just sincere reminder, once you have reached your desired target, time for taking rest & breath...  


Opportunity always will be given for those well prepare...  


Very soon time will tell you the truth...... 


Too sad to say Keyman188 not simply talk 3 talk 4 talk cock... 


Keyman188 always not only do the best but always learn from the best... 


^^^Please refer to whatever Keyman188 highlighted previous posts & comments...... 


Only brilliant traders...investors will comprehensively perceive what Keyman188 advise now... 


**Sometimes great advice must repeat & repeat to coach people' brain...  



---------------别人笑我太疯癫... 我"说"他人看不清......-----------------------

Posted by Keyman188 > 2020-06-08 11:41 | Report Abuse

温兴提醒,见好就收✋......

Just sincere reminder, once you have reached your desired target, time for taking rest & breath...


KLCI already rebounded back to pre-Covid-19 level (from 1207 ~ 1556 level...by +349 pt)......


Current KLCI level unable justifiable with real economic data company performance result......


Opportunity always will be given for those well prepare...


Very soon time will tell you the truth......


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


Too sad to say Keyman188 not simply talk 3 talk 4 talk cock...


Keyman188 always not only do the best but always learn from the best...


^^^Please refer to whatever Keyman188 highlighted previous posts & comments......


Only brilliant traders...investors will comprehensively perceive what Keyman188 advise now...


**Sometimes great advice must repeat & repeat to coach people' brain...



---------------别人笑我太疯癫... 我"说"他人看不清......-----------------------

Posted by Keyman188 > 2020-06-11 12:10 | Report Abuse

温兴提醒,见好就收✋......

Just sincere reminder, once you have reached your desired target, time for taking rest & breath...


KLCI already rebounded back to pre-Covid-19 level (from 1207 ~ 1590 level...by +383 pt)......


Current KLCI level unable justifiable with real economic data & corporate earnings performance......


Opportunity always will be given for those well prepare...


Very soon time will tell you the truth......


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


Too sad to say Keyman188 not simply talk 3 talk 4 talk cock...


Keyman188 always not only do the best but always learn from the best...


^^^Please refer to whatever Keyman188 highlighted previous posts & comments......


Only brilliant traders...investors will comprehensively perceive what Keyman188 advise now...


**Sometimes great advice must repeat & repeat to coach people' brain...



---------------别人笑我太疯癫... 我"说"他人看不清......-----------------------

Posted by Keyman188 > 2020-06-11 16:33 | Report Abuse

Today KLCI start bleeding by 22++ point...

The game just started..............



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



温兴提醒,见好就收✋......

Just sincere reminder, once you have reached your desired target, time for taking rest & breath...


KLCI already rebounded back to pre-Covid-19 level (from 1207 ~ 1590 level...by +383 pt)......


Current KLCI level unable justifiable with real economic data & corporate earnings performance......


Opportunity always will be given for those well prepare...


Very soon time will tell you the truth......


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


Too sad to say Keyman188 not simply talk 3 talk 4 talk cock...


Keyman188 always not only do the best but always learn from the best...


^^^Please refer to whatever Keyman188 highlighted previous posts & comments......


Only brilliant traders...investors will comprehensively perceive what Keyman188 advise now...


**Sometimes great advice must repeat & repeat to coach people' brain...



---------------别人笑我太疯癫... 我"说"他人看不清......-----------------------

Posted by Keyman188 > 2020-06-11 19:18 | Report Abuse

U.S. Futures Slump on Fed Caution and Virus Fears: Markets WrapBy 

June 11, 2020, 5:34 AM GMT+8Updated on June 11, 2020, 6:24 PM GMT+8

U.S. equity futures tumbled with stocks globally on Thursday as fears of a second wave of the virus and a cautious outlook from the Federal Reserve clouded hopes for a speedy economic recovery.

Contracts on the S&P 500 Index extended their losses by as much as 2% a day after Fed Chairman Jerome Powell suggested the pandemic could inflict long-lasting damage on the economy. Reports of coronavirus infection rates jumping in parts of America added to the risk-off mood. The Stoxx Europe 600 Index sank, with sectors scooped up in the recent rally such as banks and travel leading declines.

Treasuries continued higher alongside German bunds on haven demand, while the dollar rebounded from Wednesday’s losses.

“This is the first time we’ve had a little bit of negative newsflow recently” on developments in the coronavirus, Dean Turner, economist at UBS Global Wealth Management, told Bloomberg TV. “Put that in the context of how far markets have come in the last few weeks, it’s not at all surprising that we get a little bit of profit-taking at this stage.”

Stocks are catching their breath after a strong rally from March lows as investors weigh a rocky road to economic recovery against promised stimulus measures. U.S. virus cases now top 2 million, with fears of a second wave in Texas and Florida. Treasury Secretary Steve Mnuchin said the U.S. “definitely” needs more fiscal stimulus, supporting prospects for another round this summer. European policy makers meet Thursday on whether to boost aid.

Markets are shifting while investors digest the Fed’s decision to leave its policy settings unchanged while pledging to keep buying bonds. Powell said the central bank had a briefing on yield-curve control, amid expectations from some economists that the central bank will follow Australia’s and Japan’s in adopting such a tool.


##https://www.bloomberg.com/news/articles/2020-06-10/asia-stocks-to-slip-dollar-declines-on-powell-markets-wrap?srnd=premium-asia

Posted by Keyman188 > 2020-06-11 20:16 | Report Abuse

Dow futures drop 700 points on virus second wave concern, airline and retail shares fall

PUBLISHED WED, JUN 10 20206:05 PM EDTUPDATED 18 MIN AGO

~ Concerns about a second wave of coronavirus cases have risen as U.S. states push deeper into reopening.

~ Investors were also digesting the Federal Reserve’s updates on the economy and monetary policy.


Stock futures fell sharply in early trading Thursday as coronavirus cases increased in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy dropped in premarket trading.

Futures on the Dow Jones Industrial Average dropped 721 points, or 2.7%. The move implied an opening decline of about 740 points. S&P 500 futures fell 2.2%. Nasdaq-100 futures dropped 1.6%.

Shares of United Airlines, Delta, American and Southwest all dropped more than 10% in premarket trading. Carnival Corp. and Norwegian Cruise Line shares fell more than 11%. Gap and Kohl’s shares also fell more than 8% each.

Concerns about a second wave of coronavirus cases have risen as U.S. states push deeper into reopening. Texas has reported three consecutive days of record-breaking Covid-19 hospitalizations. Nine California counties are reporting a spike in new coronavirus cases or hospitalizations of confirmed cases, AP reported Wednesday.

Overall coroanvirus cases in the U.S. topped 2 million, according to the latest figures from Johns Hopkins University.

The downdraft in futures followed two straight days of losses for the 30-stock Dow and S&P 500 as investors ditched reopening trades for the megacap tech names. The S&P 500 dipped 0.5% on Wednesday, and the Dow slid about 280 points. Meanwhile, the Nasdaq Composite climbed 0.7% to a record closing high of 10,020.35, also its first-ever close above 10,000.

The Nasdaq has risen for eight days in the past nine sessions, bringing its 2020 gains to nearly 10%. The S&P 500 is down 1.2% this year after briefly turning green for 2020 earlier this week. The Dow is down 5.4% for 2020.

Both the S&P 500 and the Dow are still up more than 45% from the coronavirus low. The incredible comeback started with investors betting on technology companies like Amazon that were doing well despite the pandemic, but in the last month reopening bets like airlines have been the biggest gainers. Now investors are rotating back into those tech names and taking profits in the rest of the market.

Crude oil lost 4% in early trading.

On Wednesday, investors assessed the Federal Reserve’s updates on the economy and monetary policy. The policymakers voted unanimously to keep interest rates unchanged and indicated no rate increases through 2022.

“The Fed understands we are just in the beginning phases of the economic recovery and making rash changes to policy or forward guidance is premature at this time,” Charlie Ripley, senior investment strategist for Allianz Investment Management, said in an email.

The Fed also said it will at least maintain the current pace of bond purchases for the coming months. Additionally, it expects the U.S. economy to contract by 6.5% in 2020 before expanding by 5% in 2021.

Investors are awaiting the new jobless claim data for the week ending June 6, which is set to come out at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones expect filings for unemployment insurance claims to total 1.595 million last week, which is down from 1.775 million in the week before.

Posted by Keyman188 > 2020-06-12 07:59 | Report Abuse

Stocks suffer their worst day since March, with the Dow plunging more than 1,800 points

PUBLISHED WED, JUN 10 20206:05 PM EDTUPDATED 2 HOURS AGO

Stocks suffered their biggest one-day pull-back in three months on Thursday as traders grew concerned about the number of coronavirus cases increasing in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines.

The Dow Jones Industrial Average plunged 1,861.82 points, or 6.9%, to close at 25,128.17. The S&P 500 slid 5.9% to 3,002.10 while the Nasdaq Composite dropped 5.3%. to end the day at 9,492.73. The major averages posted their worst day since March 16, when they all dropped more than 11%. The S&P 500 also logged in its first three-day losing streak since early March.

“You’re seeing the psychology in the market get retested today” as traders weigh the the recent uptick in coronavirus hospitalizations and a grim outlook from the U.S. central bank, said Dan Deming, managing director at KKM Financial. “The sense is maybe the market got ahead of itself, which makes sense given the fact that we’ve come so far so fast.”

“The reality is this thing’s going to linger longer than probably the market had anticipated,” Deming said.

Traders dumped airlines, cruise operators and retailers after piling into those names over the past month amid expectations of a swift economic recovery. Shares of United Airlines, Delta, American and Southwest all dropped more than 11%. Carnival Corp. and Norwegian Cruise Line shares fell at least 15.3% each. Gap and Kohl’s shares closed lower by 8.1% and 11.2%, respectively.

Concerns about a second wave of coronavirus cases have risen as U.S. states push deeper into reopening. Texas has reported three consecutive days of record-breaking Covid-19 hospitalizations. Nine California counties are reporting a spike in new coronavirus cases or hospitalizations of confirmed cases, AP reported Wednesday. Treasury Secretary Steven Mnuchin told CNBC’s Jim Cramer, however, that “we can’t shut down the economy again.”

Friendly monetary policy from the Federal Reserve cannot “offset a severe COVID second wave,” said Dennis DeBusschere, macro research analyst with Evercore ISI, in a note. “With TX, AZ, CA new cases and hospitalizations increasing and investors concerned that recent protest will fuel a wave of infections, the risk of persistently weak economic and earnings growth has increased. S&P fair value estimates are falling as a result.”

Former FDA Commissioner Scott Gottlieb said on CNBC’s “Squawk Box” that states such as Arizona and Texas “never really got rid of the first wave.” He added: “It’s not a second wave.”

Overall coronavirus cases in the U.S. topped 2 million, according to the latest figures from Johns Hopkins University.

The downdraft followed two straight days of losses for the 30-stock Dow and S&P 500 as investors ditched reopening trades for the mega-cap tech names. The tech-heavy Nasdaq, however, jumped to a record high on Wednesday and closed above 10,000 for the first time.

Both the S&P 500 and the Dow are still up more than 37% from their coronavirus intraday lows. The incredible comeback started with investors betting on technology companies like Amazon that were doing well despite the pandemic, but in the last month reopening bets like airlines have been the biggest gainers. Now investors are rotating back into those tech names and taking profits in the rest of the market.

Traders also sold oil futures contracts amid worries the global economic reopening will get sidetracked. West Texas Intermediate futures dropped 8.2% to settle at $36.34 per barrel. In turn, traditionally safer assets such as bonds and gold rose. The 10-year Treasury note yield dropped to 0.66% and hit its lowest level in more than a week (yields move inversely to prices). Gold futures jumped 1.1% to $1,739.80 per ounce.

The Cboe Volatility Index — considered the best fear gauge on Wall Street — jumped to trade above 40 for the first time since May 4.

Thursday’s moves also followed the Federal Reserve warning on Wednesday the U.S. economy will contract by 6.5% in 2020 before expanding by 5% next year. The central bank also said it will keep rates at currently low levels through 2022.

“The Fed understands we are just in the beginning phases of the economic recovery and making rash changes to policy or forward guidance is premature at this time,” Charlie Ripley, senior investment strategist for Allianz Investment Management, said in an email.

Posted by Keyman188 > 2020-06-12 08:00 | Report Abuse

DJIA dropped almost reach to "circuit breaker" again......


##https://www.cnbc.com/2020/06/10/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-06-12 16:17 | Report Abuse

Today morning KLCI bleeding by 48++ point...

Just slightly rebounded back to give market some breath...

US market still not yet back to normal since last night unexpected dropped by 1800 pt (almost triggered circuit breaker again)..............

Keyman188 foresee next support level of S&P500 by 2900 ~ 2935 range...

IF break level, anytime retest low of 2790 ~ 2800 level......


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温兴提醒,见好就收✋......

Just sincere reminder, once you have reached your desired target, time for taking rest & breath...


KLCI already rebounded back to pre-Covid-19 level (from 1207 ~ 1590 level...by +383 pt)......


Current KLCI level unable justifiable with real economic data & corporate earnings performance......


Opportunity always will be given for those well prepare...


Very soon time will tell you the truth......


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


Too sad to say Keyman188 not simply talk 3 talk 4 talk cock...


Keyman188 always not only do the best but always learn from the best...


^^^Please refer to whatever Keyman188 highlighted previous posts & comments......


Only brilliant traders...investors will comprehensively perceive what Keyman188 advise now...


**Sometimes great advice must repeat & repeat to coach people' brain...



---------------别人笑我太疯癫... 我"说"他人看不清......-----------------------

Posted by Keyman188 > 2020-06-13 18:30 | Report Abuse

Coronavirus live updates: Food market shut in Beijing after 45 cases; hospitalizations rise in some U.S. states

PUBLISHED FRI, JUN 12 20207:40 AM EDTUPDATED 2 HOURS AGO

##https://www.cnbc.com/2020/06/12/coronavirus-live-updates.html



Beijing Shuts Biggest Vegetable Market After 45 Covid-19 Cases
Bloomberg News

June 13, 2020, 2:37 PM GMT+8

##https://www.bloomberg.com/news/articles/2020-06-13/beijing-shuts-biggest-vegetable-market-after-45-covid-19-cases?srnd=premium-asia


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Well prepare for coming period more & more volatility on the share market since 2nd wave of virus pandemic emerged.............

Posted by Keyman188 > 2020-06-15 08:11 | Report Abuse

A burst of market volatility is just starting, National Securities’ Art Hogan warns

PUBLISHED SUN, JUN 14 20205:00 PM EDT

Investors may want to hold on tight.

National Securities’ Art Hogan warns the volatility burst will affect the market for weeks.

He cites a laundry list of risks including the uptick of coronavirus cases paired with overbought conditions.

“The fear of the unknown catches more volatility than anything,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Friday. “Volatility is going to tick up a bit into summertime.”

Thursday’s downdraft contributed to the market’s biggest weekly loss since March. The Dow, S&P 500 and tech-heavy Nasdaq closed solidly higher on Friday, but it didn’t come close to making up the losses.

But Hogan, who has spent almost four decades on Wall Street, and oversees $15 billion in assets, believes it’s no reason for investors with longer-term time horizons to cash out of stocks.

“Have a plan, stick to it, and have balance in the equity portion of your portfolio,” he said. “Sticking to your plan is one of the best things you can do right now.”

His best advice is to strictly rebalance the classic 60% stock and 40% fixed income portfolios on a quarterly basis. Hogan also advocates a barbell approach to investing right now.

On one side, he recommends growth or technology names.

“You’ve got those that seem to have worked so far that have free cash flow during the work from home environment,” he said.

Hogan likes cyclical groups including financials, industrials and energy on the other side.

“That cyclical part will actually do well as the economy picks up,” Hogan said. “That balanced approach, I think, is going to be a great portfolio to have for the next 12 to 18 months.”


##https://www.cnbc.com/2020/06/14/burst-of-market-volatility-is-just-starting-art-hogan-warns.html

Posted by Keyman188 > 2020-06-15 14:15 | Report Abuse

Dow futures plunge nearly 900 points as Wall Street looks set to extend last week’s sharp losses

PUBLISHED SUN, JUN 14 20206:02 PM EDTUPDATED MOMENTS AGO

Stock futures fell in early morning trading on Monday, pointing to more losses ahead as investors grapple with signs of a second wave of coronavirus cases as the economy reopens.

Futures on the Dow Jones Industrial Average dropped 873 points, implying a drop of more than 945 points at the Monday open. S&P 500 and Nasdaq 100 futures also pointed to Monday opening declines for the two indexes.

The early morning action in futures markets followed a big pullback last week triggered by rising fears of a resurgence in the virus as well as investors’ profit-taking after the massive comeback.

The Dow and S&P 500 lost 5.5% and 4.7% last week, respectively, while the Nasdaq shed 2.3%. All three major equity benchmarks suffered their worst week since March 20.

“The meltup may need to take a break, as sentiment has turned too bullish too rapidly,” Ed Yardeni, president and chief investment strategist at Yardeni Research, said in a note on Sunday. “Now that reopening is happening, there’s fear of suboptimal results: less social distancing triggering a second wave of the virus, followed by another round of lockdowns.”

States in the reopening process including Alabama, California, Florida and North Carolina are reporting a rise in daily new coronavirus cases. Texas and North Carolina reported a record number of virus-related hospitalizations Saturday.

Meanwhile, Governor Andrew Cuomo warned New Yorkers against triggering a second wave of the coronavirus. He said on Sunday the state has received 25,000 complaints about businesses violating rules of the phased reopening, threatening to take liquor licenses from bars and restaurants.

“The COVID deterioration in certain states will stay an overhang for the market, although it would take a sustained increase in US numbers overall to spark a dramatic shift in the narrative,” Vital Knowledge founder Adam Crisafulli said in a note on Sunday.

Treasury Secretary Steven Mnuchin told CNBC on Thursday that shutting down the economy for a second time to slow Covid-19 isn’t a viable option as it will “create more damage.”

After last week’s sell-off, the S&P 500 is down 5.8% on the year, still more than 38% higher from its March low. The 30-stock Dow is down 10.2% year to date.


##https://www.cnbc.com/2020/06/14/stock-market-futures-open-to-close-news.html

Posted by apolloang > 2020-06-15 14:17 | Report Abuse

2nd wave of market meltdown,not 2nd wave of covid 19? hehe

Posted by Keyman188 > 2020-06-16 14:23 | Report Abuse

KLCI slides 3.05% as concerns mount over second wave of Covid-19 infections

(theedgemarkets.com / June 15, 2020 19:16 pm +08)

~ “It is the right time for the market to consolidate. There is still further downside.” — Rakuten Trade head of research Kenny Yee


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

KUALA LUMPUR (June 15): Mounting concerns over the second wave of Covid-19 infections, particularly in China, spooked the equity bears in Asian markets, including Bursa Malaysia, whose benchmark index had its biggest single-day drop in three months.

A plunge of over 900 points in the Dow Jones Industrial Average futures added fuel to the selling in the afternoon.

The FBM KLCI shed 47.19 points or 3.05% to a two-week low of 1,498.83 points. The index was on a decline for the third consecutive day.

The fall in the FBM Small Cap Index, excluding only the top 100 largest stocks in terms of market capitalisation, was even bigger. It skidded 610.76 points or 5.06% to 11,457.15 points.

On the home front, news of unemployment rate soaring to a 30-year high of 5% in April 2020 compounded the selling on the local market.

Rakuten Trade head of research Kenny Yee described the selling today as “drastic”. Nevertheless, he said profit-taking activities were expected as the market had been overbought recently.

“It is the right time for the market to consolidate. There is still further downside,” Yee told theedgemarkets.com.

In the near term, Yee expects the market to take its cue from Wall Street, adding that market sentiment will be cautious and jittery after the selling today.

The next immediate support level of the KLCI is around the 1,490-level and the 1,470-level next, said Yee.

Asked if the rally was over for the benchmark index, Yee did not think so, saying that the market was just “due for a correction”, adding that the index had gone up over 300 points from the trough in late March.

Nonetheless, he advised investors to trade with caution.

Meanwhile, Malacca Securities Sdn Bhd analyst Kenneth Leong was of the view that volatility in the market would be the norm in the near future, unless there was further economic stimulus or news of success in the development of a Covid-19 vaccine.

“Unlike the previous recovery of the FBM KLCI that was mainly fuelled by glove heavyweights, the cap on margin financing for glove counters is expected to take some steam away from the glove rally,” he added.

Among the 30 component stocks of KLCI, Top Glove Corp Bhd, which was the best performing stock year to date, shed RM1.70 or 10% to close at RM15.20, followed by Petronas Dagangan Bhd, which slid RM1.50 or 6.82% to RM20.50, and Hartalega Holdings Bhd dropped 84 sen or 6.71% to RM11.68.

The market trading volume stood at 9.07 billion shares worth RM5.32 billion traded. Losers led gainers by 1,107 to 159, while 227 counters remained unchanged.

All indices on Bursa Malaysia were in the negative territory and the worst hit was Bursa Malaysia healthcare index, which slipped 173.38 points or 7.26% to 2,215.18 points today.

Across Asia, most regional indices were in the red. South Korea's Kospi fell 4.76%, followed by Japan's Nikkei 225, which slid 3.47% while Hong Kong's Hang Seng was down 2.16%.

Reuters wrote that Asian shares and Wall Street futures fell today as growing fears of a second wave of Covid-19 infections revived economic worries, while underwhelming data from China also weighed on investor sentiment.

Today's losses came on the heels of a strong global rally since late March, fuelled by the central bank and fiscal stimulus and optimism as countries gradually lift restrictions put in place to curb the spread of Covid-19, said the newswire.

However, concerns are escalating over a second wave of infections as Beijing reported its second consecutive day of record Covid-19 cases, while new cases and hospitalisations in record numbers swept through more US states, Reuters added.


##https://www.theedgemarkets.com/article/klci-slides-305-concerns-mount-over-second-wave-covid19-infections

Posted by Keyman188 > 2020-06-16 14:31 | Report Abuse

Today is technical rebound for the market breath & run...

The market meltdown already started since last week...

Posted by Keyman188 > 2020-06-16 14:40 | Report Abuse

Don't be regret during further deceleration soon.....

kekeke...kekeke...kekeke....

Posted by Keyman188 > 2020-06-16 14:48 | Report Abuse

DJIA future index came down from 580++ point to 360++ point......

Global market not stable this period...

Posted by Keyman188 > 2020-06-16 15:05 | Report Abuse

Global market now soften again...

DJIA future now only 280++ point (from 580++ point)...

Nikkei225 future decelerating into -230++ point......


kekeke...kekeke...

Posted by Keyman188 > 2020-06-17 10:15 | Report Abuse

How do you feel today ???......

Did you feel nervous???......

Kosong "candlestick patterns" to trap market players......kekeke...kekeke...

More selling pressure in the afternoon session........

^^^ Very very close to IDSS reopen...no more further extension......

Posted by Keyman188 > 2020-06-17 10:35 | Report Abuse

Asia stocks little changed as IMF warns of unprecedented crisis; regional geopolitical tensions watched

PUBLISHED TUE, JUN 16 20207:40 PM EDTUPDATED 28 MIN AGO

~ Shares in Asia were little changed in Wednesday morning trade.

~ The International Monetary Fund said Tuesday that the global economy is set to see a more significant contraction than it previously forecast.

~ Meanwhile, trial results announced Tuesday showed dexamethasone — a widely available drug — can help critically ill coronavirus patients.

~ Investors likely also continued to watch for developments on the geopolitical front regionally.


Stocks in Asia were little changed in Wednesday morning trade as the International Monetary Fund said the global economy is set to see a more significant contraction than it previously forecast.

Mainland Chinese stocks were largely flat in early trade, with the Shanghai composite and Shenzhen component little changed. Hong Kong’s Hang Seng index edged 0.21% higher.

In Japan, the Nikkei 225 shed 0.6% in morning trade while the Topix index declined 0.41%. Japan’s exports plunged 28.3% year-on-year in May, according to provisional trade statistics released Wednesday by the country’s Ministry of Finance.

Over in South Korea, the Kospi dipped fractionally.

Meanwhile, the S&P/ASX 200 in Australia added 0.18%

Overall, the MSCI Asia ex-Japan index traded 0.15% higher.

IMF Chief Economist Gita Gopinath said in a Tuesday blog post that “the forthcoming June World Economic Outlook Update is expected to show negative growth rates even worse than previously estimated.” The fund also said the current crisis, which it dubbed the Great Lockdown, is “unlike anything the world has seen before.”

Authorities have imposed lockdown measures to curb the spread of the coronavirus pandemic, leaving most economies essentially frozen. While many countries have begun to ease these measures, it has proven challenging given the looming threat of a potential resurgence in Covid-19 cases.

Meanwhile, trial results announced Tuesday showed dexamethasone — a widely available drug — can help critically ill coronavirus patients. The treatment reportedly reduced Covid-19 deaths in hospitalized patients by up to one third. Globally, more than 8 million people have been infected by the virus while at least 438,171 lives have been taken, according to data compiled by Johns Hopkins University.

Regional geopolitical tensions

Investors likely also continued to watch for developments on the geopolitical front regionally, as tensions escalate along the Korean peninsula after North Korea reportedly destroyed a liaison office with the South.

Certain Asia-listed defense stocks soared on the back of that development, with Ishikawa Seisakusho jumping 9.79% while Victek in South Korea skyrocketed more than 22%. South Korean stocks exposed to North Korea, on the other hand, fell: Hanil Hyundai Cement and Hyundai Elevator tumbled 4.52% and 4.05%, respectively.

The South Korean won also weakened against the dollar, last trading at 1,214.46 after weakening from levels below 1210 yesterday.

Elsewhere at the Himalayan border, Indian and Chinese troops clashed this week as the two sides remained in conflict, according to a Reuters report. Since early May, hundreds of soldiers have been in a faceoff at three locations, with each side accusing the other of trespassing, the report said.


##https://www.cnbc.com/2020/06/17/asia-markets-imf-economic-forecast-coronavirus-geopolitics-in-focus.html

Posted by schadenfreude > 2020-06-17 10:55 | Report Abuse

IDSS KIV until further notice...

Aug 20 QR will be scary

Posted by Keyman188 > 2020-06-17 11:20 | Report Abuse

Tik tok...tik tok...the clock is count down...

IDSS will be ended June'20......

Next week more & more unavoidable selling pressure......

Today only slowly slowly coming down...

This few days very high possibility retest 1490 again......

Posted by Keyman188 > 2020-06-21 23:40 | Report Abuse

The stock market is running out of steam with reopening trades fading and economic data ‘uneven’

PUBLISHED FRI, JUN 19 20201:56 PM EDTUPDATED FRI, JUN 19 20208:13 PM EDT

~ With recent spikes in coronavirus cases and fluctuations in the economic data, the historic rally has taken a pause as the market seems to be stuck in a range amid elevated volatility.

~ “Although the stock market was suggesting a V-shaped recovery, the more likely scenario is rolling Ws,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

~ As signs of a virus resurgence mount, investors have turned increasingly cautious.

~ The rally in those popular reopening trades — airlines, cruise lines and hotels — is seemingly losing steam.


The stock market, so eager to put the entire blow from the pandemic behind it, is now coming to terms that a “V-shaped” recovery might be too rosy a scenario. 

With recent spikes in coronavirus cases and fluctuations in the economic data, the market seems to be stuck in a range amid elevated volatility. Market analysts said investors should expect more turbulence ahead because the economic recovery is most likely to be bumpy.

“The market was priced for a continuation of improvement and I think that’s overstating what’s going to happen,” said Brian Levitt, Invesco’s global market strategist. “We are going to have episodes of cases rising. We are going to have a very slow and uneven improvement in the jobs market.”

After soaring more than 40% from the March lows, the S&P 500 turned sideways in the past two weeks, trading at similar levels to early June. The market, which used to turn a blind eye to disastrous news on the thinking that the economy had already bottomed, has become more vulnerable to negative economic headlines as the data begins to give a read on the shape of the recovery.

Stocks came under pressure earlier this week after data showed weekly jobless claims rose more than expected last week, and the number stayed above 1 million for the 13th consecutive week. 

And on the virus front, California, Texas, Florida and Arizona have reported an uptick in new infections and hospitalizations amid the reopening. Apple said Friday that it’s again closing some stores in Florida, North Carolina and Arizona due to the spikes in coronavirus cases, which sparked a sell-off in the market, especially among retail stocks.

“The economy is going to need more help to bounce back in months to come,” said Matt Miskin, co-chief investment strategist at John Hancock Investment Management. “For now, volatility and choppy markets remain our base case as an uneven economic recovery likely unfolds.”

Cont...


##https://www.cnbc.com/2020/06/19/the-stock-market-is-running-out-of-steam-with-reopening-trades-fading-and-economic-data-uneven.html

Posted by Keyman188 > 2020-06-22 12:04 | Report Abuse

Foreign selling extends into 18th week as investors sold RM600.7m last week, says MIDF Research

(theedgemarkets.com / June 22, 2020 09:43 am +08)

KUALA LUMPUR (June 22): Foreign selling of Malaysian equities on Bursa Malaysia Securities extended for the eighteenth week as investors sold RM600.7 million last week, from RM539.2 million the prior week.

In a fund flow note today, MIDF Research analyst Khoo Zhen Ye said so far in 2020, foreign investors have sold RM15.7 million net on Bursa.

“In comparison to the other six Asian markets we track, Malaysia still has the fourth smallest foreign net outflow on a year-to-date basis.

“As markets reopened on Monday last week, international investors took out RM358.9 million net of local equities which was a similar trend for all Asian markets on fear of a resurgence of the Covid-19 outbreak,” said Khoo.

Nevertheless, Khoo said foreign funds came into the local market at a tune of RM101.6 million net last Tuesday, snapping a three-day selling spree on Bursa.

“The modest entry of foreign funds into Malaysia on Tuesday coincided with the local bourse settling at 1,517.7 points, denoting a one-day gain of 1.26%.

“Risk-on sentiment was probably spurred on Tuesday as the recovery rate of Covid-19 cases showed signs of stabilisation in the country,” he said.

However, he said foreign net buying in the local market was short-lived last Wednesday as international funds sold RM83.3 million net.

“Investors’ appetite probably was adversely affected by political instability in the country with a higher likelihood of a snap election taking place as well as the fresh outbreak of the virus in Beijing.

“The level of foreign net selling increased for three consecutive days to RM155.4 million on Friday,” he said.

Khoo said the overall mood in the market was sombre as investors grew warier of a second wave of covid-19 infections, particularly with China and America showing signs of increased infections.

“Moreover, the US weekly jobless claims data on Thursday, which showed 1.5 million Americans filing for unemployment insurance in the week before, was higher than forecast.

“In terms of participation, foreign investors were the only group that experienced a weekly increase in their average daily traded value (ADTV) of 7.9% to reach RM1.62 billion. Note that the ADTV was still healthy above the RM1 billion mark,” he said.


##https://www.theedgemarkets.com/article/foreign-selling-extends-18th-week-investors-sold-rm6007m-last-week-says-midf-research

Posted by morivae > 2020-06-22 12:20 | Report Abuse

More or more fund house are reducing their positions in the market, they prefer to stay by the side while waiting for the correction to happen

Posted by Michael Kwok > 2020-06-22 12:24 | Report Abuse

Blue chip yes but not all on second and third liner.Please,things may surprise.

Posted by Keyman188 > 2020-06-23 09:38 | Report Abuse

Stock futures drop after Peter Navarro says China trade deal is ‘over’

PUBLISHED MON, JUN 22 20206:06 PM EDTUPDATED 6 MIN AGO

Stock futures turned negative after White House trade advisor Peter Navarro told Fox News in a Monday interview that the trade deal with China was “over.”

Dow futures dropped 285 points, implying an opening drop of more than 200 points at the open on Tuesday. The S&P 500 and Nasdaq-100 were also set to open lower.

On Monday, the Dow Jones Industrial Average rose 153 points, or 0.6%. The S&P 500 also registered a gain, climbing 0.7%.

The Nasdaq Composite was the outperformer, rising more than 1%, thank to helps from mega-cap technology companies. The close marks a record close of the technology heavy index, its 20th of the year. Shares of Apple ticked up 2.6% and shares of Microsoft rose nearly 3%.

While stocks started the week on a strong foot, it came under thin trading. The SPDR S&P 500 ETF Trust (SPY), which tracks the broader market index, traded more than 67 million shares on Monday. That’s well below the ETF’s 30-day volume average of 105.01 million.

“The message today may be that the virus and the bull market can coexist,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC. “Despite back to back days of Covid19 cases above 30,000 over the weekend and ongoing reports of hot spots, the stock market managed to post a strong gain. Market action seems to suggests that investors expect the economy to continue improving in the months ahead even though the country is likely to experience spotty or temporary spikes in the virus.”

The major U.S. stock averages are coming off their fourth weekly gain in five weeks.

The number of newly confirmed coronavirus cases at home and abroad continues to increase, raising questions about economic recovery from the virus. The largest single-day increase in global coronavirus cases was recorded on Sunday, according to the World Health Organization, after more than 183,000 new cases were reported worldwide.

The U.S. saw more than 36,000 new cases reported on Sunday after more than 30,000 new cases were reported on both Friday and Saturday, data compiled by Johns Hopkins University showed. Widespread testing is contributing to the uptick in reported cases.

Texas Gov. Greg Abbott said at a news conference Monday that the coronavirus is spreading at an “unacceptable rate” in the state, according to NBC 5 in Dallas-Fort Worth.

White House economic advisor Larry Kudlow told CNBC on Monday “there is no second wave coming and that lawmakers will likely develop another stimulus package by the end of next month.


##https://www.cnbc.com/2020/06/22/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-06-23 09:40 | Report Abuse

Trade war again between US -vs- China

Posted by Keyman188 > 2020-06-23 10:03 | Report Abuse

Dow futures down nearly 400 points after Peter Navarro says China trade deal is ‘over’

PUBLISHED MON, JUN 22 20206:06 PM EDTUPDATED 19 MIN AGO

Stock futures turned negative after White House trade advisor Peter Navarro told Fox News in a Monday interview that the trade deal with China was “over.”

As of Monday evening stateside, Dow futures dropped 398 points, implying an opening drop of more than 300 points at the open on Tuesday. Futures on the S&P 500 and Nasdaq-100 also pointed to a lower open for the two indexes.



##https://www.cnbc.com/2020/06/22/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-06-23 10:10 | Report Abuse

Stocks Slide With Yuan on U.S.-China Trade Worry: Markets Wrap
By Andreea Papuc

June 23, 2020, 5:35 AM GMT+8 Updated on June 23, 2020, 9:47 AM GMT+8

~ Peter Navarro quoted saying U.S.-China trade deal ‘over’

~ Schwarzman sees ‘big V’ economic rebound in next few months


Asian stocks and U.S. futures slid along with the yuan after a Trump administration official described the Sino-American trade deal as “over.”

Treasuries climbed and crude oil dropped after Trump aide Peter Navarro said “it’s over,” when asked in a Fox News interview about the trade agreement with China. S&P 500 futures, which had opened higher, dropped over 1%. While Navarro didn’t specify whether the entire deal signed in January was now invalid, his remark revived concerns about deteriorating U.S.-China ties.

The risk-off moves Tuesday morning followed what had been a constructive session on Wall Street Monday, when equities climbed as investors continued to bet on companies with strong balance sheets and better prospects in work-from-home economy. The Nasdaq 100 jumped more than 1%, and the Nasdaq Composite capped a seventh straight advance in its longest rally of the year.

Influential investors had added to the positive sentiment prior to Navarro’s comments. Steve Schwarzman, chief executive officer of Blackstone Group Inc., said the economy is likely to benefit from a V-type recovery in the next few months, though getting back to 2019 level will take “quite a while.” Hedge fund manager Bill Ackman said he sees gradual improvement on all fronts with so many resources poured into the health-care crisis.


##https://www.bloomberg.com/news/articles/2020-06-22/asian-stocks-set-to-open-higher-dollar-drops-markets-wrap?srnd=premium-asia

Posted by Keyman188 > 2020-06-23 10:11 | Report Abuse

Well prepare...more downside risk for coming month...

Don't forget IDSS going to end by end of June'20...

Posted by Keyman188 > 2020-06-23 11:43 | Report Abuse

China in Recession and Heading for Full-Year Decline: Beige Book
Bloomberg News

June 23, 2020, 6:00 AM GMT+8

China’s economy contracted in the three months to June from a year earlier, signaling the start of a recession despite marginal improvements over the previous period when the coronavirus roiled the economy, according to China Beige Book.

Key metrics including manufacturing profits, capital expenditures and retail sales volumes remained at historically low levels and barely improved from those in the first quarter, CBB International said in a quarterly report based on a survey of more than 3,300 firms.

The retail sector fared the worst, with revenues and profits extending sharp falls. A steep decline in credit costs seemingly didn’t encourage struggling retailers to borrow, signaling continued weakness in the sector. In contrast, the manufacturing sector expanded over the first quarter and services sector performed the best.

Sluggish global demand remained a key drag on growth, with regions more internationally exposed performing worse, while interior regions received a boost from a marked rebound in domestic orders, according to the report.

“The eventual return to growth does not mean a return to anything approaching the old levels of growth,” the firm said in its quarterly report on China’s economy. “Until and unless global demand recovers more forcefully, the incremental quarterly improvement just seen will make for a contraction for full-year 2020.”

That pessimistic view contrasts with the outlook of most economists and the government, who all expect the economy to return to growth this quarter and to expand this year.

China’s Slow Reboot Points to Hard Road Back for Global Economy

The latest official data showed China’s economy continued to inch out of the coronavirus slump in May, driven by a recovery in industry amid sluggish consumer demand. China’s economy contracted 6.8% in the first quarter.

The report was based on 3,304 interviews conducted in China mid-May to mid-June. Official gross domestic product data for the second quarter is due for release on July 16.


##https://www.bloomberg.com/news/articles/2020-06-22/china-in-recession-and-heading-for-full-year-decline-beige-book?srnd=premium-asia

Posted by Keyman188 > 2020-06-23 11:55 | Report Abuse

If KLCI today unable rebound back above 1500...

God Bless liao.......tomorrow very high change break 1490...

Posted by Keyman188 > 2020-06-23 12:16 | Report Abuse

OMG...Today KLCI market sentiment extremely weak...weak...weak...

Too scary afternoon session more selling pressure again.........

Posted by Keyman188 > 2020-06-23 14:16 | Report Abuse

OMG...seem like afternoon session further deceleration......

Tomorrow definitely break 1490 liao.......no eye see liao......

Posted by Junichiro > 2020-06-23 14:39 | Report Abuse

Dow futures in the green now after Novarro makes U turn.

Posted by Keyman188 > 2020-06-24 08:34 | Report Abuse

There’s a wave of selling estimated to be in the billions that’s about to hit the stock market

PUBLISHED TUE, JUN 23 20201:18 PM EDTUPDATED 3 HOURS AGO

~ The final day of June is a week away, and Wall Street is already speculating that there’s the potential some asset allocators, like pension funds, could take the big gains from the stock market and move them into bonds.

~ There’s a wide range of views about how much selling could hit the stock market, but some strategists say the resulting market move may not be that big after all because of prior selling and action in the derivatives market.

~ The amount of pension fund rebalancing is estimated in a wide range, with some estimates from $35 billion to $76 billion.

~ Wells Fargo estimates the rebalance into bonds could be the largest in six years.


With the S&P 500 up more than 21% for the quarter so far, strategists are handicapping the likelihood that pensions and other funds and investors will sell some of their big stock market gains and buy bonds in the course of the next week.

Estimates of how much could move out of the stock market are wide ranging and JPMorgan analysts say if stocks lose ground as a result, it would be a buying opportunity. There’s also the chance that not much at all could happen, since some strategists say the volatility of month end and quarter end may have already been playing out in the equity derivatives markets, and investors could also have already been shifting stock holdings.

“The end of the quarter is going to be pretty interesting, given how much the market has moved during this quarter. There could be volatility here. We already witnessed it and there’s potential for more, as we move toward the end of Q2,” said Dan Deming, managing director at KKM Financial.

Bond strategists pay particular attention to the month end, which can bring about moves in fixed income markets as pensions and other funds and investors adjust their portfolios to bring asset allocations back in line. Quarter end makes it an even bigger event, and this quarter’s big move in stocks has some speculating there could be a sizeable move by pension funds into bonds, with some estimates ranging from $35 billion to $76 billion.

“We estimate that U.S corporate pensions will move about $35 billion into fixed income,” said Michael Schumacher, director of rates strategy at Wells Fargo. He added that is the largest flow in the six years he has been tracking portfolio rebalancing.

“The reasons are pretty obvious. You had this massive rally in stocks and bonds haven’t been keeping pace,” said Schumacher. The S&P 500 is up 3.3% for the month of June. Schumacher said his estimate is based on the assumption that about 20% of the amount of imbalance will be traded at month end.

But JPMorgan analysts see an even bigger $65 billion rebalancing flow from U.S. defined benefit pension funds. But on a global basis, they say there could be $170 billion that could flow from equities, when considering U.S. corporate pension plans, mutual funds and other global institutions like Norway’s Norges Bank, which manages state funds.

Goldman Sachs reportedly identified $76 billion in pension selling of stocks.

“While we acknowledge the risk of a small correction in equity markets over the coming two weeks as a result of this negative equity rebalancing flow, we continue to believe that we are in a strong bull market in equities and any dip would represent a buying opportunity,” the JPMorgan strategists wrote.

Schumacher said after the “monster” stock market rally the pension outflows should be highest in U.S. large-cap stocks, followed by small caps and international stocks. He said if 10-year Treasury yields moved back toward June’s high of near 0.96%, and if stocks rise along with it, there’s potentially $50 billion that could roll from stocks into bonds.

“Three weeks ago, there was a move like that, so it’s conceivable. I would call that the upper bound. It could happen. Markets have been pretty weird so you can’t totally discount it,” he said. “There’s been more bizarre behavior in 2020 than in the last 10 years combined.”

Corporate pension funds likely returned about 10% this quarter, Schumacher said. He added that stock market gains have helped pensions improve their solvency rate by an estimated 0.6 percentage point, to near 85%.



##https://www.cnbc.com/2020/06/23/theres-a-wave-of-selling-estimated-to-be-in-the-billions-thats-about-to-hit-the-stock-market.html

Posted by Keyman188 > 2020-06-24 14:42 | Report Abuse

Bursa Malaysia market sentiment still extremely weak...

Another 4 more day, IDSS will be uplifted......

Very vulnerable market coming soon...........

Posted by Keyman188 > 2020-06-24 16:05 | Report Abuse

Stock market bubble burst is possible, says MIDF Research

(theedgemarkets.com / June 24, 2020 14:54 pm +08)

KUALA LUMPUR (June 24): Given the current flood of liquidity in the equity market, MIDF Research has not discounted the possibility of a "market bubble burst" following the recent rebound in the FBM KLCI.

MIDF Research senior analyst Imran Yassin Md Yusof said that although the rebound may look sustainable at the moment, he is of the belief that it may not last for long.

"Of course there is a possibility for the bubble to burst because eventually, the market will follow fundamentals, and [corporate] earnings prospects are not that great.

"So yes, we do think that there is going to be another downward thrust," he said today during MIDF's Live Webinar entitled "Surviving & Embracing Malaysia's New Normal".

After falling nearly 400 points to a low of 1,219.72 points in mid-March due to the Covid-19 pandemic, its lowest since the global financial crisis in October 2009, the KLCI has been observed to project a rebound, erasing nearly all its losses this year.

Yesterday, the composite index closed at 1,507.04 points, representing a jump of 23.5% since the lowest point in March.

Imran said his team had calculated that over US$14 trillion (RM59.84 trillion) in stimulus programmes and packages, both in terms of fiscal and monetary, from countries around the world had been injected into the global economy.

This, he said, resulted in some sort of a disconnect between the underlying lacklustre economic growth prospects and the liquidity-driven bullish stock market.

"What we expect, as I said earlier, [is that] the market will follow fundamentals and earnings sooner or later. With more bad numbers coming out, we expect that will put downward pressure on the market," Imran added.

In terms of investment strategy, Imran advised his investors to look for companies that are fundamentally strong, and in a typically defensive sector if possible, as well as dividend-yielding.

He pointed to the tech sector as the sector that might be the most resilient during the current economic uncertainty, given the fact that there is still a lot of technology adoption that companies need to embrace.

Meanwhile, MIDF group managing director Datuk Charon Wardini Mokhzani highlighted that prolonged liquidity in the financial market may also worsen wealth inequality.

"The people with money are just getting richer because if we have the money to put into the market and invest in assets, we are the only ones who will be making more and more. And that money was originally supposed to help the guy with no money, but for some reason, that money ended up in the market.

"Unfortunately, it does mean that the rich get richer, which again, in the long run, is not sustainable," he added.



##https://www.theedgemarkets.com/article/stock-market-bubble-burst-possible-says-midf-research

Posted by Keyman188 > 2020-06-25 08:52 | Report Abuse

Dow drops more than 700 points in worst day since June 11 as virus resurgence concerns grow

PUBLISHED TUE, JUN 23 20206:04 PM EDTUPDATED 4 HOURS AGO

Stocks fell sharply on Wednesday as the increasing number of newly confirmed coronavirus cases dampened expectations of an economic recovery.

The Dow Jones Industrial Average dropped 710.16 points, or 2.7%, to 25,445.94. The S&P 500 closed 2.6% lower at 3,050.33 while the Nasdaq Composite slid 2.2% to 9,909.17. The tech-heavy Nasdaq posted its first daily decline in nine sessions. It was the worst day for the Dow, S&P 500 and Nasdaq since June 11.

Florida said its confirmed cases jumped by 5,508 on Tuesday, a record, and now total 109,014. The state also said its positivity rate rose to 15.91% from 10.82%. Stocks fell to their session lows after Florida reported its latest case figures. At one point, the Dow had fallen more than 800 points on Wednesday.

California is one of the states that has also seen a dramatic spike in cases, adding a record of more than 7,000 in one day on Tuesday. In Texas, the Covid-19 number of Covid-19 cases jumped by 5,489. Meanwhile, New York, New Jersey and Connecticut ordered visitors from certain hotspot states to quarantine for 14 days.

“The latest coronavirus news is not positive for the stock market which was betting the worst of the pandemic recession was behind us,” said Chris Rupkey, chief financial economist at MUFG. “All the hopes of investors looking for a better economy to improve the bottom lines of companies shut down in the recession have been dashed. Forget about the fears of the virus coming back in the fall, the number of new cases and hospitalizations in states like Arizona, Texas, and Florida says the threat is happening right now.”

Shares of companies primed to benefit from the economy reopening faltered. United Airlines fell 8.3%. Delta, American and Southwest all slid over 7%. Airlines were especially hit by the quarantine orders issued by New York, New Jersey and Connecticut.

“It’s definitely the reason for the last leg down. Airline stocks and transports are down, and oil tanked,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “The regional quarantine sparked concerns about a dampening of activity as the economy in the region is just reopening.”

Carnival, Norwegian Cruise Line and Royal Caribbean were lower by 11.1%, 12.4% and 11.3%, respectively. Retailer Gap also fell 7.8%. Disney, meanwhile, declined by 3.9% after its Orlando theme-park workers petitioned to postpone the reopening amid the spike in cases in Florida.

The “market is going down on this...bottom line,” Evercore ISI strategist Dennis DeBusschere wrote in an email. It “brings up the question: What will California do? They have had consistent case growth and never really opened up.”

Masks and social distancing, which had been enforced to varying degrees across the country in recent week, “will become the norm nationally,” the strategist wrote.

He added that the Covid numbers also have implications for politics and policy that the market may not like. Specifically, DeBusschere argued that the infection spike weighs against President Trump’s odds of reelection and reinforce the case for even more fiscal stimulus from Congress.

Wednesday’s sell-off in equities led investors into traditional safe havens such as gold and Treasurys. Gold prices hit their highest levels in nearly eight years, before retreating. The 10-year Treasury note yield fell to 0.68%. To be sure, the drop in stocks would feel even more significant if it occurred any other year, but in 2020, volatility is the norm. The 2.7% drop by the Dow was just its 16th worst drop this year.

“Markets pause with all eyes on the virus and the reopening heading into the summer months,” said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, in a note. The health side is back front and center as both monetary and fiscal liquidity has been factored in short-term. We have entered a new phase of this crisis.”

Oil prices fell more than 5.6% to settle back below $40 per barrel.

Wall Street was coming off a banner day, with the Nasdaq Composite posting its 21st closing record for 2020 on Tuesday. The Nasdaq’s gain on Tuesday also represented its eighth straight day of gains, its longest winning streak since December, when it advanced for 11 straight sessions.


##https://www.cnbc.com/2020/06/23/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-06-25 09:43 | Report Abuse

OMG...Finally KLCI break below 1490 level......

Bursa Malaysia market sentiment still extremely weak...

Another 3 more day, IDSS will be uplifted......

Very vulnerable market coming soon...........

Posted by Keyman188 > 2020-06-25 11:34 | Report Abuse

IMF revises Malaysia 2020 GDP forecast to 3.8% contraction

(theedgemarkets.com / June 25, 2020 11:18 am +08)

KUALA LUMPUR (June 25): The International Monetary Fund (IMF) has revised its Malaysia 2020 gross domestic product (GDP) forecast to a 3.8% year-on-year (y-o-y) contraction from the previously estimated 1.7% contraction as the Covid-19 pandemic has had a more negative impact on global activity in the first half of 2020 (1H20) than anticipated.

The IMF said in its June 2020 World Economic Outlook Update report that global economic recovery is projected to be more gradual than previously forecast.

"Global growth is projected at -4.9% in 2020, 1.9 percentage points below the April 2020 World Economic Outlook forecast. For 2021, global growth is projected at 5.4%. Overall, this would leave 2021 GDP some 6½ percentage points lower than in the pre-Covid-19 projection in January 2020.

"The adverse impact on low-income households is particularly acute, imperilling the significant progress made in reducing extreme poverty in the world since the 1990s,” the IMF said.

Malaysia’s 2019 GDP grew 4.3% from a year earlier, while first quarter of 2020 (1Q20) GDP expanded 0.7%, according to Bank Negara Malaysia (BNM) and the Department of Statistics Malaysia (DOSM).

For 1Q20, BNM said in a statement on May 13, 2020 that on a quarter-on-quarter seasonally-adjusted basis, the economy contracted 2% during the quarter.

"The global and Malaysian economic outlook for 2020 will be significantly impacted by the Covid-19 pandemic as strict measures to contain the spread of the pandemic will weigh considerably on both external demand and domestic growth. The Malaysian economy is expected to contract in the second quarter. This reflects the longer duration of containment measures both globally and domestically.

"When these containment measures are eased and the domestic MCO (movement control order) is lifted, economic activity is expected to gradually improve in 2H20. The sizeable fiscal, monetary and financial measures and progress in transport-related public infrastructure projects will provide further support to growth in 2H20. In line with the projected improvement in global growth, the Malaysian economy is expected to register a positive recovery in 2021,” BNM said.


##https://www.theedgemarkets.com/article/imf-revises-malaysia-2020-gdp-forecast-38-contraction

Posted by Keyman188 > 2020-06-25 17:08 | Report Abuse

OMG...Finally KLCI closing below 1490 level......

Bursa Malaysia market sentiment still extremely weak...

Another 3 more day, IDSS will be uplifted......

Very vulnerable market coming soon...........

Posted by Keyman188 > 2020-06-25 17:11 | Report Abuse

World Bank projects Malaysia's economy to decline by 3.1% in 2020

(theedgemarkets.com / June 25, 2020 13:43 pm +08)

KUALA LUMPUR (June 25): The Malaysian economy is projected to contract by 3.1% in 2020, due to a sharp slowdown in economic activity caused by the Covid-19 pandemic and lockdown measures to contain its spread, according to the World Bank.

Malaysia's economic growth of 4.3% in 2019 was already the country's lowest level since the global financial crisis in 2009.

Note that the World Bank already revised down its Malaysia's 2020 gross domestic product (GDP) growth target to 4.5%, from 4.6%, back in December 2019 in its previous Malaysia Economic Monitor report.

However, the World Bank expects growth to resume in 2021 at 6.9% as the outbreak eases.

Most importantly, the World Bank pointed out that the crisis underscored the need for a more enhanced social protection system in order to protect individuals and households in Malaysia, especially among the bottom 40% income group (B40), the most vulnerable group to be hit the worst by the pandemic.

"Important social protection measures are needed to help vulnerable Malaysians survive the current economic storm and thrive in the new post-pandemic reality.

"Protecting livelihoods is important so that those who have lost their jobs and businesses are able to get back on their feet and contribute to Malaysia’s economic recovery,” said Firas Raad, World Bank Group's representative to Malaysia and country manager, during the launch of the Malaysia Economic Monitor — "Surviving the Storm" report today.

The World Bank report highlighted that the country's social protection system is facing challenges from the changing nature of work and a rapidly ageing population.

Although the coverage of social assistance is high across all income groups, especially among the B20, the World Bank argued that social assistance programmes in Malaysia had so far only had a modest impact on poverty reduction and promoting productive employment.

As such, the report recommended that in the near term, government efforts should focus on supporting relief and recovery efforts by deepening social assistance for lower-income households, improving the delivery of social protection programmes and promoting job recovery.

The World Bank said that as the recovery continues, further rounds of cash transfers will remain vitally important to mitigate acute financial strain among the most vulnerable groups in Malaysian society, and support domestic consumption and human capital development during a severe economic downturn.

Over the medium and long term, support for lower-income groups can be gradually expanded to ensure that Malaysia’s social protection system provides a minimum level of protection to all households and individuals in need, it added.

Nevertheless, the bank said Malaysia’s economy remains resilient and rests on strong fundamentals.

“Its diversified economic structure, sound financial system, effective public health response and proactive macroeconomic policy support suggest that Malaysia will be able to ride out the storm better than many other countries,” it said.


##https://www.theedgemarkets.com/article/world-bank-projects-malaysias-economy-contract-31-2020

Posted by Keyman188 > 2020-06-25 17:14 | Report Abuse

KLCI more & more downside risk due to IMF & World Bank had revised Malaysia economy will be contracted by 3.80% & 3.10% respectively in year 2020...

KLCI foresee more & more foreign fund will be withdrawing investment funds out from Malaysia...

Posted by Keyman188 > 2020-06-26 08:36 | Report Abuse

KLCI more & more downside risk due to IMF & World Bank had revised Malaysia economy will be contracted by 3.80% & 3.10% respectively in year 2020...


KLCI foresee more & more foreign fund will be withdrawing investment funds out from Malaysia...


Bursa Malaysia market sentiment still extremely weak...


Another 2 more day, IDSS will be uplifted......


Very vulnerable market coming soon...........

Posted by Keyman188 > 2020-06-26 10:06 | Report Abuse

OMG...today market no more stem to rebound...


Bursa Malaysia market sentiment still extremely weak...


Another 2 more day, IDSS will be uplifted......


Very vulnerable market coming soon...........


Foresee afternoon session more selling pressure........

Posted by Keyman188 > 2020-06-26 10:28 | Report Abuse

IMF warns disconnect in financial markets risks a correction in asset prices

PUBLISHED THU, JUN 25 20208:31 AM EDTUPDATED THU, JUN 25 202011:12 AM EDT

~ A correction is defined as a 10% or more decline in the price of an asset or index.

~ The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of 5.4% in 2021. Both estimates were downgraded from April’s forecast.


The International Monetary Fund has warned that the ongoing disconnect between financial markets and the real economy could lead to a correction in asset prices.

In recent months, equity markets have rallied despite troubling real-world events. The world is grappling with the coronavirus health emergency that has taken the lives of almost 500,000 people, according to John Hopkins University data, and threatens to cause an unprecedented economic crisis. In addition, there is social unrest in many advanced economies as citizens demand a more equal society, which could hit investor confidence.

Recent data indicates a deeper-than-expected downturn, the Fund added, but markets appear unfazed: the S&P 500 enjoyed its largest 50-day rally in history in early June.

“This disconnect between markets and the real economy raises the risk of another correction in risk asset prices should investor risk appetite fade, posing a threat to the recovery,” the IMF said Thursday in its updated Global Financial Stability report.

A correction is defined as a 10% or more decline in the price of an asset or index.

The Fund said that valuations currently looked stretched across many different markets.

“According to IMF staff models, the difference between market prices and fundamental valuations is near historic highs across most major advanced economy equity and bond markets, though the reverse is true for stocks in some emerging market economies,” it said.

Triggers for a shift in market sentiment could include a second wave of coronavirus infections, further social unrest, changes to monetary policy and a resurgence in trade tensions, the Fund added.

Asset and fund managers

There is a risk that “nonbank” financial companies — such as asset and fund managers — could also face shocks in the event of a broad wave of insolvencies. The IMF warned that these businesses could even act as an amplifier of this stress.

“For example, a substantial shock to asset prices could lead to further outflows from investment funds, which could, in turn, trigger fire sales from those fund managers that would exacerbate market pressures,” the Fund said.

The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of 5.4% in 2021. Both estimates were downgraded from April’s forecast.

“There is tremendous uncertainty,” Gita Gopinath, the IMF’s chief economist told CNBC’s Squawk on the Street Wednesday.

She added that “substantial support will need to be continued,” but its form will depend on how the recovery goes.

Governments and central banks around the world have launched large stimulus programs in an effort to keep economies afloat. In the euro zone, for instance, the European Central Bank is buying government bonds as part of a 1.35 trillion euros ($1.5 billion) emergency program to keep borrowing costs low for euro zone governments. Meanwhile,

The IMF also warned that corporate debt had risen over several years and currently stands at a “historically high level relative to GDP (gross domestic product).” This, coupled with household debt, which has also grown over the last years, is another vulnerability in the financial sector and could have a broader impact in the ongoing economic crisis.

“High levels of debt may become unmanageable for some borrowers, and the losses resulting from insolvencies could test bank resilience in some countries,” the IMF said.


##https://www.cnbc.com/2020/06/25/imf-global-financial-stability-markets-disconnect-risks-a-correction.html

Posted by Keyman188 > 2020-06-26 15:14 | Report Abuse

OMG...today market really no more stem to rebound...


Bursa Malaysia market sentiment still extremely weak...


Another 2 more day, IDSS will be uplifted......


Very vulnerable market coming soon...........


As Keyman188 highlighted morning, afternoon session more selling pressure........

Posted by Keyman188 > 2020-06-26 15:47 | Report Abuse

Dow futures down nearly 200 points after bank stress test results, Nike reports surprise loss

PUBLISHED THU, JUN 25 20206:01 PM EDTUPDATED 17 MIN AGO

U.S. stock futures were lower in early morning trade on Friday following the release of the Fed’s latest bank stress-test results and disappointing quarterly numbers out of Nike.

Dow Jones Industrial Average futures were down 173 points, while S&P 500 and Nasdaq-100 futures also traded in negative territory.

The moves came after the Fed’s annual stress test of the major banks showed some banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic. Because of this, banks must suspend share repurchase programs and keep dividend payments at current levels for the third quarter.

“While I expect banks will continue to manage their capital actions and liquidity risk prudently, and in support of the real economy, there is material uncertainty about the trajectory for the economic recovery,” Fed Vice Chair Randall Quarles said in a statement.

The announcement sent some bank shares lower in after-hours trading. Bank of America and JPMorgan Chase both dipped more than 1.8%. Wells Fargo slid 3% and Goldman Sachs fell 3.4%. Bank stocks were coming off sharp gains, rallying more than 3% during regular trading Thursday.

Meanwhile, Nike shares slid nearly 4% after the bell on the back of a surprising quarterly loss for the apparel giant.

The company reported a loss of 51 cents per share and revenue of $6.31 billion for the its fiscal fourth quarter. Nike’s quarterly revenue reflected a drop of 38% on a year-over-year basis.

Wall Street was coming off strong gains after a late-day surge helped the major averages recover some of the steep losses from Wednesday’s session. The Dow jumped nearly 300 points Thursday while the S&P 500 and Nasdaq Composite each closed higher by 1.1%.

The major averages, however, struggled for direction for most of Thursday’s session as the number of coronavirus cases keeps rising in certain states. Florida reported just over 5,000 additional cases. Arizona’s cases jumped by 5.1%, topping a seven-day average of 2.3%. Texas Gov. Greg Abbott said the state would pause its reopening plans given the recent spike in cases and hospitalizations.


##https://www.cnbc.com/2020/06/25/stock-market-futures-open-to-close-news.html