Posted by EngineeringProfit > 2020-12-16 21:29 | Report Abuse

Expect near-vertical drop, choking terror and extreme fear

Posted by Keyman188 > 2020-12-17 08:58 | Report Abuse

Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate

(PUBLISHED WED, DEC 16 20202:28 PM ESTUPDATED WED, DEC 16 20203:00 PM EST)

~ The Federal Reserve expects real gross domestic product to fall just 2.4% in 2020, compared to a decline of 3.7% predicted in September.

~ The Fed also upped its 2021 real GDP forecast to 4.2% from 4.0%.

~ The Jerome Powell-led Fed estimates the unemployment rate to fall to 6.7% this year, also an improvement from 7.6% projection in September.

The Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections released on Wednesday.

The central bank now expects real gross domestic product to fall just 2.4% in 2020, compared to a decline of 3.7% predicted in September. The Fed also upped its 2021 real GDP forecast to 4.2% from 4.0% expected previously

The Jerome Powell-led Fed estimates the unemployment rate to fall to 6.7% this year, further below the 7.6% previously predicted. The unemployment rate should fall to 5.0% in 2021, compared to the central bank’s previous estimate of 5.5%.

The Federal Open Market Committee said in its statement Wednesday that it would continue to buy at least $120 billion of bonds each month “until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.”

The Fed kept its inflation estimates for 2020 unchanged at 1.2%. The FOMC now sees PCE inflation running to 1.8% next year, slightly above its previous estimate of 1.7%.

Core PCE inflation is expected to come in at 1.4% this year, down slightly from September’s projection of 1.4%. Next year, core PCE inflation is estimated to reach 1.8%, up from September’s forecast of 1.7%.

The Fed decided to keep interest rates unchanged in its December meeting after slashing them to near-zero in an emergency meeting in March due to the fast-spreading coronavirus.


##https://www.cnbc.com/2020/12/16/fed-raises-its-economic-outlook-slightly-sees-4point2percent-growth-next-year-and-5percent-unemployment-rate.html

Posted by Keyman188 > 2020-12-18 08:41 | Report Abuse

FDA panel endorses second Covid vaccine in U.S. as Moderna wins key vote in path to emergency use

(PUBLISHED THU, DEC 17 20205:00 PM ESTUPDATED THU, DEC 17 20207:05 PM EST)

~ An influential FDA advisory panel overwhelmingly voted to recommend the approval of Moderna’s coronavirus vaccine for emergency use.

~ The FDA’s Vaccines and Related Biological Products Advisory Committee plays a key role in approving flu and other vaccines in the U.S., verifying the shots are safe for public use.

~ While the FDA doesn’t have to follow the advisory committee’s recommendation, it often does.


An influential Food and Drug Administration advisory panel on Thursday overwhelmingly backed Moderna’s coronavirus vaccine, a key step paving the way to distribute the second Covid-19 vaccine in the United States next week.

The nonbinding decision, which was adopted 20-0 with one abstention, by the FDA’s Vaccines and Related Biological Products Advisory Committee came exactly a week after the outside group of vaccine and infectious disease experts voted to recommend Pfizer and BioNTech’s vaccine for an emergency use authorization, or EUA. The agency granted Pfizer’s EUA the next day, and the first inoculations in the U.S. were given Monday.

The FDA advisory committee plays a key role in approving flu and other vaccines in the U.S., verifying the shots are safe for public use. While the FDA doesn’t have to follow the advisory committee’s recommendation, it often does. The U.S. plans to ship just under 6 million doses next week, pending the agency’s OK, Gen. Gustave Perna, who oversees logistics for the Operation Warp Speed vaccine project, told reporters Monday.

Prior to the vote, some members of the committee stressed that their endorsement for Moderna’s vaccine was not for a full FDA approval, reiterating that the agency will still need to review more data on safety and effectiveness.

“I don’t want people to interpret this the same way they would a licensed vaccine,” said Dr. Cody Meissner, a voting member of the committee and an infectious diseases expert at Tufts University School of Medicine. The endorsement is “based on the available evidence, but that’s limited.”

An EUA means the FDA will allow some people to receive the vaccine as the agency continues to evaluate data. It isn’t the same as full approval, which requires more data and can typically take several months longer. Moderna has submitted only two months of follow-up safety data. The agency usually requires six months for full approval. The committee recommended emergency authorization of the vaccine for people who are 18 years old and older.

Member Dr. Michael Kurilla, an infectious disease expert with the National Institutes of Health, was the only member to not vote yes. He said he decided to abstain because he was “uncomfortable” endorsing the vaccine for everyone age 18 and older.

“In the midst of a pandemic and with limited vaccine supply, a blanket statement for individuals for 18 years and older is just too broad,” said Kurilla. “I’m not convinced for all of those age groups the benefits do actually outweigh the risk.”

Initial doses will be limited as manufacturing ramps up, with officials predicting it will take months to immunize everyone in the U.S. who wants to be vaccinated. The Centers for Disease Control and Prevention has provided states with an outline that recommends prioritizing health-care workers and nursing homes, but states can distribute the vaccine as they see fit.

Moderna’s vaccine uses messenger RNA, or mRNA, technology. It’s a new approach to vaccines that uses genetic material to provoke an immune response. Late-stage clinical trial data shows the vaccine is more than 94% effective in preventing Covid, is safe and appears to fend off severe disease. To achieve maximum effectiveness, the vaccine requires two doses taken four weeks apart.

The FDA has indicated it would authorize a Covid-19 vaccine that’s safe and at least 50% effective. The flu vaccine, by comparison, generally reduces people’s risk of getting influenza by 40% to 60% compared with people who aren’t inoculated, according to the CDC.

FDA staff endorsed Moderna’s vaccine on Tuesday, saying in documents that the clinical trial results and safety data were “consistent with the recommendations set forth in FDA’s Guidance on Emergency Use Authorization for Vaccines to Prevent COVID-19.”

Cont...


##https://www.cnbc.com/2020/12/17/moderna-covid-vaccine-fda-panel-recommends-emergency-approval.html

Posted by Keyman188 > 2020-12-18 08:52 | Report Abuse

Stocks close at record highs as traders bet that a fiscal stimulus deal is coming

(PUBLISHED WED, DEC 16 20206:00 PM ESTUPDATED THU, DEC 17 20205:43 PM EST)

Stocks closed at record levels on Thursday, boosted by hope of Washington coming through on additional fiscal aid before the end of 2020.

The S&P 500 gained 0.6% to end the day at 3,722.48, and the tech-heavy Nasdaq Composite advanced 0.8% to 12,764.75. The Dow Jones Industrial Average climbed 148.83 points, or 0.5%, to 30,303.37. Both the S&P 500 and Nasdaq hit intraday and closing records. The Dow posted its highest-ever closing level.

Real estate, materials and health care were the best-performing sectors in the S&P 500, rising more than 1% each. Johnson & Johnson rose 2.6% to lead the Dow higher.

“Stimulus is still the main driver in the market right now until they get something done, and it does appear there is some motivation on that front to get something done,” said Dan Deming, managing director at KKM Financial. “The market’s benefiting from that” enthusiasm.

Congressional leaders on Wednesday closed in on a $900 stimulus package that would include direct payments to individuals.

The measure would exclude liability protections for businesses as well as aid to state and local governments, CNBC confirmed. Disagreements over those issues have been a stumbling block in the latest round of negotiations.

Senate Majority Leader Mitch McConnell, R-Ky., said Thursday that a coronavirus relief deal was close at hand.

The latest round of U.S. fiscal stimulus talks comes as Covid-19 cases increase at a record pace. The U.S. is recording at least 215,729 additional Covid-19 cases each day, based on a seven-day average calculated by CNBC using Johns Hopkins University data. On Wednesday alone, more than 247,000 new infections were confirmed.

This resurgence in Covid-19 cases has led to states reimposing stricter social-distancing measures that are slowing down parts of the economy, especially the labor market.

On Thursday, data showed jobless claims totaled 885,000 last week, hitting their highest level since early September. Economists expected 808,000 workers sought state jobless benefits during the week ended Dec. 12.

“Until COVID is more under control, claims are going to continue to be elevated,” Thomas Simons, money market economist at Jefferies, wrote in a note.

Wall Street was coming off a mixed session in which the S&P 500 and Nasdaq Composite rose while the Dow posted a small loss.

On Wednesday, the Federal Reserve pledged to keep buying bonds until the economic recovery was completed. Fed Chairman Jerome Powell also said the central bank would increase its bond purchases if the recovery slows down.

Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, said U.S. monetary policy will likely stay easy for a while.

“They feel that there still are disinflationary forces globally to contend with, and they are being realistic about their timeframe and their ability to achieve their inflation goal” of 2%, Faranello said. “This lends itself to this theme [rates] staying lower-for-longer.”


##https://www.cnbc.com/2020/12/16/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-12-19 11:45 | Report Abuse

FDA approves second Covid vaccine for emergency use as it clears Moderna’s for U.S. distribution

(PUBLISHED FRI, DEC 18 20207:38 PM ESTUPDATED FRI, DEC 18 20207:59 PM EST)

~ Moderna’s Covid-19 vaccine is the second approved for use in the U.S.

~ It will bolster the number of available doses, which states desperately need to fend off the pandemic.

~ The U.S. plans to distribute roughly 5.9 million doses of Moderna’s vaccine to 64 states, territories and major cities across the nation next week.

The Food and Drug Administration has approved Moderna’s coronavirus vaccine for emergency use. The vaccine — the second approved for use in the U.S. behind Pfizer and BioNTech’s — bolsters the U.S. supply of doses. The potentially lifesaving shots are desperately needed to fend off the pandemic that has taken more than 300,000 American lives and overwhelmed hospitals.

The FDA’s emergency use authorization Friday approves the federal government’s plan to distribute roughly 5.9 million doses of Moderna’s vaccine to 64 states, territories and major cities across the nation next week.

“We likely will see shots in the arm by the very early part of next week, I would hope Monday or Tuesday,” Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said on the “Today” show on Friday morning.

In addition to Moderna’s vaccine, the U.S. also plans to send out 2 million doses of Pfizer’s vaccine after 2.9 million doses were cleared for shipment this week, Gen. Gustave Perna, who oversees logistics for the Operation Warp Speed vaccine project, said Monday. Both vaccines require two doses three to four weeks apart. Moderna’s Covid vaccine is its first-ever FDA authorized product.

“With the availability of two vaccines now for the prevention of COVID-19, the FDA has taken another crucial step in the fight against this global pandemic that is causing vast numbers of hospitalizations and deaths in the United States each day,” FDA Commissioner Dr. Stephen Hahn said in a statement.

U.S. officials hope to vaccinate at least 20 million Americans — mostly front-line health-care workers and nursing home residents — by the end of the year. Initial doses will be limited as manufacturing ramps up, with officials predicting it will take months to immunize everyone in the U.S. who wants to be vaccinated. The Centers for Disease Control and Prevention has provided states with an outline that recommends prioritizing health workers and nursing homes, but states can distribute the vaccine as they see fit.

Already, states are reporting confusion about vaccine plans. In recent days, state officials said they learned their second shipment of Pfizer’s vaccine would be smaller than expected or delayed. In Florida, for example, Republican Gov. Ron DeSantis said the federal government told him the state would receive 205,000 Pfizer vaccine doses next week and 247,000 the following week. Those shipments are now on hold, DeSantis said at a press conference Tuesday, and it’s unclear when they will arrive.

Moderna’s vaccine, like Pfizer’s, uses messenger RNA, or mRNA, technology. It’s a new approach to vaccines that uses genetic material to provoke an immune response. Late-stage clinical trial data published last month shows Moderna’s vaccine is more than 94% effective in preventing Covid, is safe and appears to fend off severe disease. To achieve maximum effectiveness, the vaccine requires two doses taken four weeks apart.

The FDA has indicated it would authorize a Covid-19 vaccine that’s safe and at least 50% effective. The flu vaccine, by comparison, generally reduces people’s risk of getting influenza by 40% to 60% compared with people who aren’t inoculated, according to the CDC.

The FDA authorized Moderna’s vaccine for people who are 18 years old and older. Such an authorization from the agency isn’t the same as full approval, which requires more data and can typically take several months longer. Moderna has submitted only two months of follow-up safety data. The agency usually requires six months for full approval and can always revoke an EUA for a drug if it doesn’t work as intended or proves to be unsafe. The FDA approved the emergency use of hydroxychloroquine to treat Covid-19 in March, only to revoke it in June after additional data showed it provided “no evidence of benefit” in coronavirus patients.

The FDA’s announcement comes after a key agency advisory panel on Thursday voted 20-0 with one abstention to recommend the vaccine for emergency use. The Vaccines and Related Biological Products Advisory Committee plays a key role in approving flu and other vaccines in the U.S., verifying the shots are safe for public use. While the FDA doesn’t have to follow the advisory committee’s recommendation, it often does.

Cont...

##https://www.cnbc.com/2020/12/18/moderna-covid-vaccine-approved-fda-for-emergency-use.html

Posted by Keyman188 > 2020-12-19 12:10 | Report Abuse

Trump signs two-day funding bill as Congress rushes to finalize spending, Covid relief deal

(PUBLISHED FRI, DEC 18 20206:13 PM ESTUPDATED FRI, DEC 18 202010:30 PM EST)

~ Trump signs a two-day government funding bill just hours before a shutdown deadline.

~ Lawmakers hope to buy more time to finalize a $900 billion coronavirus relief package.

~ They aim to tie it to a full-year government spending bill.


President Donald Trump signed a two-day government funding bill into law Friday night as Congress tries to buy time to strike a spending and coronavirus relief deal.

The president inked the legislation to keep the government running about an hour-and-a-half before a midnight deadline to pass spending legislation. The stopgap measure would fund federal operations through Sunday until 12:01 a.m. ET Monday morning while congressional leaders try to finalize a full-year funding and coronavirus relief package.

Even after lawmakers avoided a shutdown, Congress again finds itself on a tight deadline. The House will meet again on Sunday at noon ET and will not vote earlier than 1 p.m. The Senate will return at 11 a.m. ET Saturday and will likely address nominations.

Senators including independent Bernie Sanders of Vermont and Republican Josh Hawley of Missouri had warned they could delay approval of a spending bill as they lobby for leadership to include a $1,200 direct payment in a pandemic aid package. Neither lawmaker followed through on the warning.

Before the Senate unanimously passed the spending bill, Sanders said he would “object to any attempt” by the chamber to pass a full-year spending plan without also approving a pandemic relief package that includes “substantial direct payments.”

Hawley earlier tweeted that he would not block the legislation after top Republicans assured him a final relief deal would include “direct assistance to working people.” Lawmakers are expected to include $600 payments, down from the $1,200 checks approved as part of the CARES Act in March.

The House initially tried to pass the funding bill unanimously on Friday. However, Rep. Chip Roy, R-Texas, objected and forced a full recorded vote.

The move delayed the bill’s passage by more than an hour as Congress worked on a tight schedule to beat the shutdown deadline. The House approved it in a 320-60 vote.

Lawmakers, for the second time this month, aim to give themselves more time to package a full-year spending bill and money to lift a health-care system and economy buckling under a relentless coronavirus outbreak. They already approved a one-week extension that kept the lights on through Friday.

Congressional leaders have said for days that they are close to a desperately needed pandemic aid agreement. However, they have failed to iron out the final details of a $900 billion package.

Millions of Americans await help as the virus overwhelms hospitals and health-care workers. Covid-19 now kills thousands of Americans every week.

New economic restrictions to contain the outbreak have sharpened pain for people already scrambling to afford food and housing.

A Republican-backed proposal to limit the Federal Reserve’s emergency lending power now poses the biggest roadblock to a deal. Democrats say the measure would hamstring President-elect Joe Biden’s ability to respond to the ongoing economic crisis after he takes office on Jan. 20.

Along with direct payments, the developing plan would include a $300 per week federal unemployment supplement. It would extend a pandemic-era expansion of jobless benefits, which 12 million people would lose the day after Christmas.

It is unclear now how the proposal would handle a federal eviction moratorium. The provision lapses at the end of the year, potentially leaving millions vulnerable to eviction.

The package would put at least $300 billion into small business aid. It would include money for Covid-19 vaccine distribution and testing, along with relief for hospitals.

It would also direct funding to schools, which have had to adapt to stay open or go virtual during the pandemic.

The bill will not address state and local government support or liability protections for businesses. Those issues divided Democratic and Republican leaders.

Democrats and many rank-and-file GOP lawmakers, along with bipartisan governors, supported state and local aid as necessary to preserve first-responder jobs and allow officials to contain the pandemic. The GOP argued legal immunity would protect small businesses from frivolous litigation.

##https://www.cnbc.com/2020/12/18/covid-stimulus-update-house-passes-short-term-funding-bill-to-prevent-government-shutdown.html

Posted by Keyman188 > 2020-12-21 08:50 | Report Abuse

Congress agrees to $900 billion Covid stimulus deal after months of failed negotiations

(PUBLISHED SUN, DEC 20 20205:39 PM ESTUPDATED SUN, DEC 20 20207:39 PM EST)

~ Congress reached a deal Sunday on a $900 billion coronavirus relief package, according to Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer.

~ Lawmakers will move to vote on the proposal, along with a full-year government spending bill, as soon as Sunday night.

~ Millions of Americans have awaited aid for months as Congress failed to agree on another plan to boost a health-care system and economy buckling under the weight of the pandemic.


Congress reached a deal Sunday on a $900 billion coronavirus relief package, a long-delayed effort to boost an American health-care system and economy buckling under the weight of the pandemic.

Congressional leaders announced the agreement on a coronavirus aid and full-year government spending bill after days of start-and-stop efforts to finish a deal. They have not yet released text of the more than $2 trillion legislation, which they hope to pass in the next day.

“At long last, we have the bipartisan breakthrough the country has needed,” Senate Majority Leader Mitch McConnell, R-Ky., said on the Senate floor Sunday.

House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., called the plan a “package that delivers urgently needed funds to save the lives and livelihoods of the American people as the virus accelerates.” They noted they would soon push for more relief spending after President-elect Joe Biden takes office on Jan. 20.

To avoid a government shutdown that would start at 12:01 a.m. ET on Monday, Congress moved to approve a one-day spending measure that would keep the lights on until 12:01 a.m. ET on Tuesday. The House passed the measure Sunday night, and the Senate aims to approve it before midnight.

Lawmakers then plan to vote on the relief and funding bill on Monday.

The deal on one of the largest rescue bills in U.S. history follows months of sniping on Capitol Hill over how best to fight a once-in-a-century crisis. Democrats moved quickly to pass trillions of dollars more in assistance only two months after Congress passed the more than $2 trillion CARES Act in March. The GOP at first downplayed the need for more aid, then in the summer embraced a more limited approach than Democrats desired.

A new round of help cannot come soon enough for the millions of Americans who have tried to scrape together enough money to afford food and housing during sustained public health restrictions.

“The American people have a great deal to celebrate in this legislation. But of course, the agreement we reached is far from perfect,” Schumer said on Sunday.

What’s in the bill

The relief plan includes direct payments of $600 to most adults and $600 per child, Pelosi and Schumer said in a statement.

The Democrats said it would put $284 billion into Paycheck Protection Program small business loans. It would direct another $20 billion to small business grants and $15 billion to live event venues.

It would also add a $300 federal unemployment supplement and temporarily keep in place pandemic-era programs that expanded unemployment insurance eligibility. It was not immediately clear how long each of those measures would last.

If the jobless benefits expansion expires the day after Christmas, 12 million people will lose unemployment insurance.

The measure was also set to put critical funding into the distribution of the two FDA-approved Covid-19 vaccines. Schumer said the bill would direct $30 billion into “procurement and distribution” of vaccines.

Health-care workers and top government officials have started to receive shots, and widespread inoculation in the coming months will help the world to emerge from the pandemic’s shadow.

The rescue package was also set to send relief to hospitals, many of which have struggled to keep up with a flood of Covid-19 patients. It also puts $82 billion into schools and colleges, according to Pelosi and Schumer.

The plan directs $25 billion into rental assistance and extends a federal eviction moratorium for an unspecified amount of time, the Democrats said.

It also puts $13 billion into enhanced Supplemental Nutrition Assistance Program benefits.

The deal came after a last-second fight over a Republican-backed provision that would have restricted the Federal Reserve’s emergency lending powers. Lawmakers eventually reached a deal to wind down lending facilities created by the CARES Act at the end of the year, repurpose more than $400 billion left over in the programs and bar the creation of identical provisions in the future.

Cont...

##https://www.cnbc.com/2020/12/20/mcconnell-says-congress-has-agreed-to-900-billion-coronavirus-stimulus-deal.html

Posted by Keyman188 > 2020-12-28 08:26 | Report Abuse

KLCI futures expected to trade higher next week

(December 26, 2020 10:03 am +08)

KUALA LUMPUR (Dec 26): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is expected to trade higher next week as investors take the cue from the bullish underlying cash market.

Inter-Pacific Asset Management Sdn Bhd chief executive officer Datuk Dr Nazri Khan Adam Khan expects the benchmark FBM KLCI to test the psychological level of 1,700 amidst window-dressing activities and improved market sentiment.

He said the key index is poised to march into the new year on a high note, riding on the ‘Santa Claus’ rally as investors turn bullish towards year-end.

“Traditionally, the last week of December and the first week of new year are the strongest weeks of the year, therefore I believe KLCI will move higher between 1,680 and 1,700,” he told Bernama.

On a Friday-to-Thursday basis, spot month December 2020 reduced 12.5 points to 1,641.0, January 2021 eased 11.0 points to 1,639.0, March 2021 decreased 13.0 points 1,639.0 and June 2021 shed 10.5 points to 1,634.0.

Turnover increased to 50,009 lots from 49,700 lots last week, while open interest widened to 43,821 contracts from 38,750 contracts previously.

The FBM KLCI decreased 11.32 points to 1,641.17 on Thursday from 1,652.49 on Friday last week.

## https://www.theedgemarkets.com/article/klci-futures-trade-higher-next-week

Posted by Keyman188 > 2020-12-28 08:28 | Report Abuse

'The beginning of the end': Europe rolls out vaccines to fight pandemic

(December 27, 2020 21:30 pm +08)

MADRID/ROME/LISBON/VIENNA/PRAGUE/SOFIA/ZAGREB/OSLO/ATHENS/PARIS (Dec 27): Europe launched a mass Covid-19 vaccination drive on Sunday, with pensioners and medics lining up to get the first shots to see off a pandemic that has crippled economies and claimed more than 1.7 million lives worldwide.

"Thank God," 96-year-old Araceli Hidalgo said as she became the first person in Spain to have a vaccine at her care home in Guadalajara near the capital Madrid. "Let's see if we can make this virus go away."

In Italy, the first country in Europe to record significant numbers of infections, 29-year-old nurse Claudia Alivernini was one of three medical staff at the head of the queue for the shot developed by Pfizer and BioNTech.

"It is the beginning of the end ... it was an exciting, historic moment," she said at Rome's Spallanzani hospital.

The region of 450 million people is trying to catch up with the United States and Britain which have both already started vaccinations using the Pfizer/BioNTech shot.

The EU is due to receive 12.5 million doses of the shot by the end of the year, enough to vaccinate 6.25 million people based on the two-dose regimen. The companies are scrambling to meet global demand and aim to make 1.3 billion shots next year.

Europe has secured contracts with a range of drugmakers besides Pfizer including Moderna and AstraZeneca , for a total of more than two billion vaccine doses and has set a goal for all adults to be inoculated during 2021.

While Europe has some of the best-resourced healthcare systems in the world, the sheer scale of the effort means some countries are calling on retired medics to help, while others have loosened rules for who is allowed to give the injections.

With surveys pointing to high levels of hesitancy towards the vaccine in countries from France to Poland, leaders of the 27-country European Union are promoting it as the best chance of getting back to something like normal life next year.

"We have a new weapon against the virus: the vaccine. We must stand firm, once more," tweeted French President Emmanuel Macron, who tested positive for the coronavirus this month and left quarantine on Christmas Eve.

Solar-powered pavilions
After European governments were criticised for failing to work together to counter the spread of the virus in early 2020, the goal this time is to ensure that there is equal access to the vaccines across the region.

But even then, Hungary on Saturday jumped the gun on the official roll-out by administering shots to frontline workers at hospitals in the capital Budapest.

Slovakia also went ahead with some inoculations of healthcare staff on Saturday and in Germany, a small number of people at a care home were inoculated a day early too.

"We don't want to waste that one day that the vaccine loses shelf life," Karsten Fischer, from the pandemic staff of the Harz district in the German state of Saxony-Anhalt, told local broadcaster MDR.

The distribution of the shot presents tough challenges as the vaccine uses new mRNA technology and must be stored at ultra-low temperatures of about -70 degrees Celsius (-112°F).

In Germany, several vaccination centres in Northern Bavaria held off from inoculating people after uncertainty arose on whether the cold chain had been maintained. "When reading the temperature loggers that were enclosed in the cool boxes, doubts arose about the compliance with the cold chain requirements", the vaccination centres of Coburg, Lichtenfels, Kronach, Kulmbach, Hof, Bayreuth and Wunsiedel said in a joint statement.

The Pfizer shots being used in Europe were shipped from its factory in Puurs, Belgium, in specially designed containers filled with dry ice. They can be stored for up to six months at Antarctic winter temperatures, or for five days at 2C to 8C, a type of refrigeration commonly available at hospitals.

Beyond hospitals and care homes, sports halls and convention centres left vacant by lockdown restrictions will become venues for mass inoculations.

In Italy, temporary solar-powered healthcare pavilions designed to look like five-petalled primrose flowers — a symbol of spring — sprouted in town squares.

Cont...


## https://www.theedgemarkets.com/article/europe-rolls-out-vaccines-bid-leave-pandemic-behind

Posted by Keyman188 > 2020-12-28 08:57 | Report Abuse

U.S. Cases Slow in Holiday Amid Warnings of Worse: Virus Update
Bloomberg News

(December 27, 2020, 7:52 AM GMT+8 Updated on December 28, 2020, 5:53 AM GMT+8)

Top U.S. health officials warned of a post-Christmas surge in infection, as new cases slowed amid scattered holiday reporting from states. Total infections passed 19 million. New York state’s new infections dipped, as did holiday testing. North Carolina hospitalizations hit a record, while South Carolina reported record infections.

A coordinated vaccination campaign was underway in Europe, just days after the EU cleared a shot developed by Pfizer Inc. and BioNTech SE. Italy and France were among the first of the bloc’s 27 member states to start inoculations. In Germany, which began a day early, the rollout was postponed in some cities after doubts emerged about whether the shots had been kept cold enough during transit.

Concern about the mutated strain first detected in Britain grew in Asia. China asked airlines to suspend passenger flights with the U.K. from Dec. 28 to Jan. 10. Norway reported two cases of the variant.


## https://www.bloomberg.com/news/articles/2020-12-26/mutant-strain-spreads-n-j-records-worst-month-virus-update?srnd=premium-asia


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

Daily infections - US:-

27/12/20 - 150,572

26/12/20 - 188,667

25/12/20 - 190,678

24/12/20 - 206,925

23/12/20 - 213,610

22/12/20 - 214,735

21/12/20 - 214,952

20/12/20 - 217,074

19/12/20 - 215,842

18/12/20 - 218,891

Posted by Keyman188 > 2020-12-28 10:33 | Report Abuse

Trump signs Covid relief and government funding bill days after he suggested he would block it

(PUBLISHED SUN, DEC 27 20208:13 PM ESTUPDATED SUN, DEC 27 20208:46 PM EST)

~ President Donald Trump signs a coronavirus relief and government funding package into law.

~ He refused to approve the legislation for days after receiving it from Congress, blowing past a deadline to prevent an estimated 14 million people from temporarily losing unemployment benefits.

~ Trump said the House and Senate will vote on increasing direct payments in the package to $2,000, though it is unclear if the GOP-held Senate will take up the measure.


President Donald Trump signed a massive coronavirus relief and government funding package into law Sunday, days after he sent Washington into a panic by suggesting he could veto the bill.

He refused to approve the legislation for days after receiving it, blowing past a Saturday deadline to prevent an estimated 14 million people from temporarily losing unemployment insurance. The measure extends the expanded jobless benefits into March, but millions of people are expected to lose a week of benefits due to Trump’s delay in signing the bill.

The government would have shut down Tuesday during a deadly pandemic if Trump did not approve the legislation.

The president called the bill a “disgrace” on Tuesday night — after Congress already approved it following talks which included his Treasury Secretary Steven Mnuchin. Trump claimed he opposed the bill because it included $600 rather than $2,000 direct payments to most Americans, and because the $1.4 trillion government spending portion of the package included foreign aid money. The president’s own White House has included those funds in its budgets.

After Trump expressed support for larger checks, Democrats embraced his stance. The Democratic-held House plans to vote on a measure to increase the payments to $2,000 on Monday.

In a statement Sunday night, Trump said the Senate would also “start the process for a vote that increases checks to $2,000.” Senate Majority Leader Mitch McConnell, in a separate statement cheering the bill becoming law, did not mention any plans to take up the legislation if the House passes it. Most members of the Kentucky Republican’s caucus have opposed larger direct payments.

The president also said he will send Congress a “formal rescission request” asking for what he called “wasteful items” to be removed from the bill. Lawmakers may not cancel the previously approved money, as the legislation passed both chambers of Congress with overwhelming bipartisan support.

The White House had signaled for weeks that Trump would sign whatever pandemic aid bill the divided Congress passed into law. His threat to oppose the legislation shocked Capitol Hill and sent Americans scrambling to adjust their plans.

Airlines, for instance, had moved to bring employees back with $15 billion in payroll assistance included in the bill.

Many economists and lawmakers have called the $900 billion coronavirus relief package inadequate. Still, it will send a dose of needed help to the country as the virus overwhelms the health-care system and economy.

The measure adds a $300 per week federal unemployment supplement through mid-March. It temporarily expands programs that made freelance and gig workers eligible for jobless benefits and added to the number of weeks jobless Americans can receive aid.

It sends $600 direct payments to most individuals, and adds $600 for every child. The legislation includes another round of small business assistance, most of which comes from $284 billion in forgivable Paycheck Protection Program loans.

It puts nearly $30 billion into distributing Covid-19 vaccines and ensuring Americans can get shots for free. The measure also directs more than $20 billion to state Covid-19 testing and contact tracing efforts.

Along with extending the eviction moratorium, it puts $25 billion into rental assistance. The airline payroll assistance is part of more than $45 billion in transportation relief.

The package also directs $82 billion to K-12 and higher education.

Democrats have said they will quickly push for another relief bill, headlined by direct payments and state and local government aid, after President-elect Joe Biden takes office on Jan. 20. Their ability to pass a bill will in part depend on whether Republicans keep control of the Senate in two Jan. 5 runoffs in Georgia.


## https://www.cnbc.com/2020/12/28/trump-signs-covid-relief-and-government-funding-bill-days-after-suggesting-hed-block-it.html

Posted by Keyman188 > 2020-12-28 12:08 | Report Abuse

November exports 4.3% higher at RM84.43b — MITI

(theedgemarkets.com / December 28, 2020 11:43 am +08)

KUALA LUMPUR (Dec 28): Malaysia’s exports increased by 4.3% year-on-year (y-o-y) to RM84.43 billion in November 2020, from RM80.95 billion previously, as the country registered the third consecutive month of y-o-y growth.

In a statement today, the Ministry of International Trade and Industry (MITI) said the higher figure for November 2020 was due to higher exports to the US, Singapore, China and Hong Kong.

Meanwhile, imports in November were down 9% y-o-y at RM67.61 billion, from RM74.26 billion previously. Total trade contracted by 2% to RM152.04 billion from RM155.21 billion in November 2019.

The trade surplus amounted to RM16.82 billion after surging by 151.6%, the highest figure recorded thus far for the month of November.

Compared to October 2020, total trade, exports, imports and the trade surplus declined by 5%, 7.3%, 1.9% and 24% respectively.

For the cumulative 11 months of 2020 (11M20), the trade surplus grew 23.1% to RM163.86 billion from RM133.11 billion previously. Total trade was valued at RM1.61 trillion after falling from RM1.68 trillion a year ago. Exports stood at RM885.02 billion, contracting by 2.6%, while imports amounted to RM721.16 billion, falling by 7%.

MITI noted that in November 2020, exports of manufactured goods contributed to 88.1% of total exports and also rose by 81.% y-o-y to RM74.34 billion. The growth was driven by higher exports of electrical and electronics (E&E) products as well as rubber products, which according to the ministry had been resilient with 13 consecutive months of growth. Higher exports were also registered for other manufactures, especially solid-state storage devices (SSD), wood products as well as optical and scientific equipment.

The ministry also noted that agriculture goods, accounting for 6.7% of exports, increased by 6% y-o-y to RM5.65 billion on higher exports of palm oil and palm oil-based agriculture products.

Meanwhile, mining goods, showing a 4.9% contribution, contracted by 34.6% y-o-y to RM4.15 billion, following lower exports of liquefied natural gas (LNG), crude petroleum as well as petroleum condensates and other petroleum oil.

For 11M20, exports of manufactured goods slipped by 0.3% to RM765.63 billion, from 11M19, on lower exports of petroleum productions, chemicals and chemical products, on top of lower metal manufacturing.

“Meanwhile, higher exports were recorded for rubber products, E&E products, other manufactures (SSD), iron and steel products as well as optical and scientific equipment. Exports of agriculture goods grew by 5% to RM63.32 billion, attributed mainly to higher exports of palm oil and palm oil-based agriculture products. Exports of mining goods fell by 29.7% to RM52.21 billion due to lower exports of LNG, crude petroleum as well as petroleum condensates and other petroleum oil,” MITI said.

Trade with Asean stood at RM38.77 billion or 25.5% of total trade, falling by 7.2% from November 2019. Regional exports were down by 2.2% to RM23.46 billion, following lower exports of petroleum products, iron and steel products, as well as machinery, equipment and parts. However, exports of E&E products, increasing by 36.6% or RM2.6 billion, cushioned the decline. Imports from Asean dropped by 13.9% to RM15.31 billion.

Among the Asean markets, exports to Singapore expanded by RM1.78 billion, contributed by E&E products, while exports to Brunei rose by RM39 million, contributed by iron and steel products.

Meanwhile, trade with China in November rose by 3.2% y-o-y to RM30.06 billion, accounting for 19.8% of Malaysia’s total trade. Exports to China grew 13.2% to RM14.23 billion on on higher exports of E&E products.Imports from China was down by 4.5% to RM15.83 billion.

Trade to the US in November amounted to 10.1% of Malaysia’s total trade, rising by 8.6% y-o-y to RM15.42 billion. Exports to the US recorded a double digit growth for six consecutive months, surged by 24.6% to RM9.76 billion in November 2020. Higher exports were recorded for rubber products, E&E products, and wood products. Imports from the US contracted by 11.1% to RM5.66 billion.

Total trade with the EU, which accounted for 7.7% of Malaysia’s November traded fell by 4.9% y-o-y to RM11.64 billion. Exports continued to expand for three consecutive months, expanding by 7.1% to RM6.89 billion contributed mainly by higher exports of rubber products. Imports from the EU shrank by 18.2% to RM4.75 billion.

Cont...


## https://www.theedgemarkets.com/article/november-exports-43-higher-rm8443b-%E2%80%94-miti

Posted by Keyman188 > 2020-12-29 08:44 | Report Abuse

UK expected to approve Oxford-AstraZeneca Covid vaccine this week

(PUBLISHED MON, DEC 28 20206:52 AM EST)

~ The AstraZeneca shot would be rolled out next week if approved in the next few days.

~ It would be added to the Pfizer-BioNTech vaccine, which has been given to 600,000 in the U.K., according to government statistics.


LONDON — The coronavirus vaccine being developed by AstraZeneca and the University of Oxford is expected to be approved for use in the U.K. in coming days.

The Financial Times reported Sunday that government officials confirmed that the Medicines and Healthcare products Regulatory Agency would imminently approve the vaccine, saying the announcement could come as soon as Tuesday. The Sunday Telegraph newspaper reported that the approval could come as early as Monday as health-care workers prepare to administer the shots.

But the regulator has been tight lipped on the move, and the U.K.’s Department of Health told Reuters the agency should be given time to properly assess the data from the vaccine’s trials.

Cabinet minister Michael Gove also gave nothing away in media interviews on Monday morning but said its approval could accelerate the lifting of strict lockdowns in the country, which have effectively canceled Christmas festivities for many millions.

Around 30,500 daily infections and 316 deaths were recorded in the U.K. on Sunday, but those figures could be understated due to reporting delays. Cases have surged in London and south England, raising pressure on hospitals. A new coronavirus variant found in the U.K. is reportedly more transmissible and has led to travel restrictions for people wanting to leave the country.

The AstraZeneca shot would likely be rolled out next week if approved in the next few days and would be added to the Pfizer-BioNTech vaccine, which has so far been given to 600,000 in the U.K., according to government statistics.

The Oxford-AstraZeneca candidate would allow the country to significantly ramp up its inoculation program, given its development in the U.K. It’s also much cheaper than others and does not need to be kept at ultra-low temperatures.

Earlier this month, Dr. Richard Horton, editor-in-chief of The Lancet medical journal, told CNBC the vaccine could be used around the globe more effectively than others.

“The Oxford/AstraZeneca vaccine is the vaccine right now that is going to be able to immunize the planet more effectively, more rapidly than any other vaccine we have,” Horton said, adding that it was important to think about vaccine immunization on a global scale “because even if we immunize one country, the threat then is you reintroduce the virus from another country that is not protected.”

Confusion around its trial data in November led to some criticism of U.K.-based AstraZeneca. The data suggests that the vaccine can help reduce the spread of Covid-19, as well as prevent illness and death. The study also found it had an effectiveness of 62% for trial participants given two full doses, but 90% for a subgroup given half a dose followed by a full dose.

But chief of the White House’s Operation Warp Speed, Moncef Slaoui, and others in the U.S. have expressed concern over the age group tested, saying the 90% efficacy was only shown for the lowest risk group, which numbered 2,741 people below age 55.

Pascal Soriot, CEO of AstraZeneca, said the pharmaceutical giant will run an additional global trial to evaluate the efficacy of its vaccine. Soriot told The Times newspaper this weekend he is convinced that subsequent data will show his company had achieved an efficacy rate equal to the others, at above 90%.

“We think we have figured out the winning formula and how to get efficacy that, after two doses, is up there with everybody else,” he said. “I can’t tell you more because we will publish at some point.”

He added that AstraZeneca believes the vaccine will be effective against the new strain of the coronavirus, but was running tests to confirm it.


## https://www.cnbc.com/2020/12/28/uk-expected-to-approve-oxford-astrazeneca-covid-vaccine-this-week.html

Posted by Keyman188 > 2020-12-29 14:11 | Report Abuse

Japan’s Nikkei 225 surges to levels not seen since early 1990s; Asia-Pacific markets mixed

(PUBLISHED MON, DEC 28 20206:37 PM ESTUPDATED MON, DEC 28 202011:28 PM EST)

~ In Japan, the Nikkei 225 gained 1.96% — trading at levels not seen since August 1990 — according to data from Refinitiv.

~ The gains stateside came after U.S. President Donald Trump signed a $900 billion coronavirus relief package into law.


SINGAPORE — Stocks in Asia-Pacific were mixed in Tuesday trade following overnight gains on Wall Street that sent the major averages to record highs.

In Japan, the Nikkei 225 gained 1.96% — trading at levels not seen since August 1990, according to data from Refinitiv. Shares of index heavyweight Fast Retailing and conglomerate Softbank Group gained more than 3% each. The Topix index advanced 1.36%.

South Korea’s Kospi was fractionally lower.

Mainland Chinese stocks were lower by the afternoon, with the Shanghai composite down 0.33% while the Shenzhen component dipped 0.338%. Hong Kong’s Hang Seng index gained 1.05%.

Shares in Australia rose following their return from a Monday holiday, with the S&P/ASX 200 up 0.44%.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.47%.

Overnight on Wall Street, the Dow Jones Industrial Average gained 0.7% to close at 30,403.97. The S&P 500 rose 0.9% to finish its trading day at 3,735.36 while the Nasdaq Composite closed 0.7% higher at 12,899.42.

The gains stateside came after U.S. President Donald Trump signed a $900 billion coronavirus relief package into law, with the measure including a direct payment of $600 to most Americans. Trump had previously demanded a $2,000 direct payment days before the signing. The House voted Monday to increase the second round of federal direct payments to $2,000, leaving it up to the GOP-controlled Senate.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.11 following an earlier high of 90.227.

The Japanese yen traded at 103.65 per dollar after weakening yesterday from around the 103.4 level against the greenback. The Australian dollar changed hands at $0.7595, having slipped from levels above $0.76 yesterday.

Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.47% to $51.10 per barrel. U.S. crude futures gained 0.52% to $47.87 per barrel.


## https://www.cnbc.com/2020/12/29/asia-markets-wall-street-us-stimulus-coronavirus-currencies.html

Posted by apolloang > 2020-12-29 14:12 | Report Abuse

no use bursa only manipulators kaya

Posted by Keyman188 > 2020-12-29 14:13 | Report Abuse

Santa Clause wouldn't come to Malaysia...

Malaysia weather too hot.....

Santa Clause tak boleh tahan too hot...

You see market......Everyday too hot until scaring Santa Clause come to Malaysia....

Posted by apolloang > 2020-12-29 14:16 | Report Abuse

they won't come cos they know msia is crook market......only tell epf crooks to goreng

Posted by Keyman188 > 2020-12-29 14:19 | Report Abuse

If no crook...how to make victims money to pay Rakyat dividend...

Adui........

Posted by Keyman188 > 2020-12-29 14:27 | Report Abuse

10 reasons why the S&P 500 will surge 7% into year-end, according to Fundstrat

(Nov. 19, 2020, 05:39 PM)

~ The S&P 500 has more room to run, according to a Thursday note from Fundstrat's Tom Lee.

~ Lee upped his year-end S&P 500 price target to 3,800 from 3,525, representing potential upside of 7% from Wednesday's close.

~ Here are 10 reasons why Lee expects the S&P 500 to continue its record climb over the next 6 weeks, according to the note.


The stock market's record post-election rally will continue into year-end, according to Fundstrat's Tom Lee.

In a note on Thursday, Lee upped his year-end S&P 500 price target to 3,800 from 3,525, representing potential upside of 7% from Wednesday's close.

Lee is not surprised to see stocks consolidate over the past few days, and understands why some investors might believe that stock market has become "overly exuberant."

But according to Lee, an expansion in earnings multiples could drive new gains over the next six weeks. In his note, he gives the 10 following reasons.

1. "COVID-19 vaccine and therapeutics take 'worst case [scenario]' off table."

2. "Policymakers are pursuing soft-lockdowns, not killing recovery."

3. "Pent-up demand is US, look at output gap."

4. "China seeing massive explosive economic recovery."

5. "Fiscal stimulus coming."

6. "Investors are cautiously positioned, with little conviction."

7. "$4.5 trillion cash on sidelines."

8. "If VIX breaks below 20, double-risk on signal."

9. "Santa Claus rally."

10. "Fed dovish."


"With tailwinds for P/E expansion, we see 2021 P/E rising to 19.7x from 18.3x, which would lead to S&P 500 3,800," Lee said, basing his target on estimates that the S&P 500 notches record EPS of $193 in 2021.

A 7% move higher into year-end is about the magnitude of a typical Santa Claus rally, "so we are saying markets see their typical seasonal gains" over the next six weeks, the note said.

And a P/E valuation multiple of 19.7x is not demanding for the S&P 500, considering that it's a discount to the current implied P/E multiple of high-yield bonds. High yield bonds are currently priced at an implied P/E multiple of 20.6x, Lee explained.

"If the S&P 500 traded at 20.6x, the S&P 500 would be 3,976," Lee said.

Year-to-date, the S&P 500 is up 10% as of Wednesday's close.


## https://markets.businessinsider.com/news/stocks/10-reasons-sp500-will-surge-into-year-end-fundstrat-says-2020-11-1029822041

Posted by Keyman188 > 2020-12-29 14:36 | Report Abuse

Funstrat's Tom Lee expects the S&P 500 to rally in the second half of 2021 (Dec 17, 2020)

Tom Lee, Fundstrat Gobal Advisors managing partner and head of research, says he expects the S&P 500 to rally up to 4,300 in the second half of 2021. Jim Lebenthal, partner at Cerity Partners


## https://www.youtube.com/watch?v=QLp0kOgVunU

Posted by Keyman188 > 2020-12-30 20:33 | Report Abuse

Copper price has gradually increased from $2100 (Mar'20) until now $3500 ++


"This makes copper prices a good leading indicator of the economic cycle. For example, if orders for copper are being canceled or delayed, the price will drop. This can be a leading indicator that an economic recession is at hand. Conversely, if orders for copper are rising, the price will go up"



What do copper prices indicate about the economy?

"In general, rising copper prices have indicated strong demand and global economic strength; lower prices, a weaker economy. Historically, the price of copper has been strongly correlated with the price of gold, the Chinese economy, world trade, and most consistently, with the price of oil."



How does copper affect the economy?

"Copper mining is controversial because it adds a great deal to the economy, while also striping the land of its resources, and leaving a wake of poor poverty and ill health. Because of the danger, high wages, and frequent layoffs many mining towns see very high unemployment rates."

Posted by Keyman188 > 2021-01-02 11:05 | Report Abuse

Bursa Malaysia to see cautious trading in first week of 2021

(Bernama / January 02, 2021 10:09 am +08)

KUALA LUMPUR (Jan 2): The local stock market is likely to usher in the first trading week of 2021 on a cautious trading mode as investors seek fresh market catalysts.

OANDA senior market analyst Jeffrey Halley said the trajectory of Covid-19 cases in Malaysia continued to weigh on Bursa Malaysia sentiment, and it would likely to do so into next week unless a marked improvement was seen over the New Year break.

He noted that gains would be capped at 1,660 with the FTSE Bursa Malaysia KLCI (FBM KLCI) potentially dropping to 1,620.

At those levels, and with investors returning to work in the New Year, value buyers should emerge, putting a floor under any further sell-offs, added Halley.

"If the US Republicans hold Georgia in the US Senate election on Wednesday (Malaysian time) equity markets should rally, lifting Bursa Malaysia too," Halley told Bernama, adding that the 1,700 level should be broken in January, but it was unlikely to be next week.

"The 1,700 level is more likely to be tested in the second half of the month," he added.

Halley pointed out that regional equities elsewhere would need to rally, and Malaysia needed to avoid a post-holiday spike in Covid-19 for that to happen.

"The main factor driving markets next week is the Georgia Senate election in the US on Wednesday (Malaysian time). A surprise win by the Democrats will likely provoke a sharp retreat by equities globally.

"However, I expect the effects to be transitory, and for Malaysia's equity rally to resume in earnest in the second week of January, presuming that the Covid-19 situation domestically does not deteriorate badly. Large-scale lockdowns will delay the rally resumption," he said.

Bursa Malaysia trading was range-bound for the week just ended, mainly driven by year-end window-dressing activities.

On Thursday, the key index was weighed down by persistent selling activities in heavyweights including Sime Darby Plantation Bhd due to a ban imposed by the US Customs and Border Protection (CBP) on its products over allegations of forced labour in its production process.

Sime Darby Plantation lost 18 sen to RM4.99, while the Plantation Index trimmed 109.97 points to 7,302.84.

In September 2020, the CBP had issued a withheld release order against FGV Holdings Bhd.

On a Thursday-to-Thursday basis, the benchmark FBM KLCI decreased 13.96 points to 1,627.21 from 1,641.17 last week.

On the scoreboard, the FBM 70 rose 30.3 points to 15,142.84, the FBM ACE Index strengthened 77.39 points to 10,734.69, the FBM Emas Index fell 48.99 points to 11,761.93, the FBMT 100 Index erased 67.94 points to 11,501.99, and the FBM Emas Shariah Index reduced 124.03 points to 13,159.15.

Sector-wise, the Plantation Index contracted 114.44 points to 7,302.84, the Industrial Products and Services Index added 2.22 points to 178.11, while the Financial Services Index increased 56.18 points to 15,316.55.

The Energy Index advanced 16.92 points to 896.39, the Healthcare Index gave up 100.81 points for 3,571.55, and the Technology Index added 2.31 points to 69.72.

Weekly turnover jumped to 31.2 billion units worth RM14.88 billion from 28.99 billion units worth RM14.05 billion last week.

Main Market volume went up to 18.76 billion shares valued at RM12.5 billion from 17.26 billion shares valued at RM10.7 billion previously.

Warrants turnover, however, nosedived to 1.61 billion units worth RM264.98 million from 7.85 billion units worth RM364.77 million in the previous week.

The ACE Market volume advanced to 10.83 billion shares valued at RM3.11 billion from 9.52 billion shares valued at RM2.99 billion previously.


## https://www.theedgemarkets.com/article/bursa-malaysia-see-cautious-trading-first-week-2021

Posted by Keyman188 > 2021-01-02 11:07 | Report Abuse

Ringgit expected to strengthen to 4.0 against US dollar next week

(Bernama / January 02, 2021 10:20 am +08)

KUALA LUMPUR (Jan 2): The ringgit is expected to trade higher against the US dollar next week, on positive Covid-19 vaccine sentiment and better performance in crude oil prices, said an analyst.

Axi chief global market strategist Stephen Innes said as commodities are expected to fly out of the new year gates, particularly for the higher oil prices, they provide a double whammy of support for the local unit.

“The ringgit has been an underdog most of the year but its strong beta to commodity markets are now making it a leader of the pack.

“And it suggests the ringgit could be poised to test the key psychological 4.0 level against the US dollar, possibly as soon as next week,” he told Bernama.

Throughout this week, the ringgit continued to make inroads against the greenback, marking the 10th consecutive weekly gain versus the US dollar, even as the local note marched upwards in tandem with rising oil prices.
The heightened risk appetite also served as tailwinds for Asian currencies with many reaching multi-year highs over recent weeks.

The local market was closed on Friday for New Year holiday and will resume trading on Monday, Jan 4, 2021.

On a Thursday-to-Thursday basis, the ringgit was 390 basis points higher against the US dollar at 4.0200/0250 versus 4.0590/0620 in the previous week.

The local currency was also traded firmer against other major currencies except for the Singapore dollar.

It appreciated against the Japanese yen to 3.9018/9078 from 3.9153/9193, improved versus the British pound to 5.4905/4977 from 5.5186/5243 and gained against the euro to 4.9358/9427 from 4.9479/9528 from last Thursday.
The ringgit, however, depreciated against the Singapore dollar to 3.0395/0444 from 3.0537/0571 previously.


## https://www.theedgemarkets.com/article/ringgit-expected-strengthen-40-against-us-dollar-next-week

Posted by Keyman188 > 2021-01-02 20:56 | Report Abuse

India Grants Emergency Approval to Astra-Oxford Covid-19 Vaccine

(January 2, 2021, 4:52 PM GMT+8)

~ Nation is battling world’s second worse coronavirus outbreak

~ Distribution a challenge across India’s patchy health networks


India has followed the U.K. and granted emergency approval for the coronavirus vaccine developed by AstraZeneca Plc and the University of Oxford, the first step in its plan to inoculate citizens in the country that’s home to the world’s second-largest Covid-19 outbreak.

Information and Broadcasting Minister Prakash Javdekar said the AstraZeneca shot being produced locally by the Serum Institute of India Ltd. -- the world’s largest vaccine maker by volume -- was approved Friday.

“India is possibly the only country where four vaccine candidates are ready.” Javdekar said at the ruling Bharatiya Janata Party’s briefing on Saturday in New Delhi. “Yesterday one vaccine has been approved for emergency use, Serum’s Covishield.”

The Drugs Controller General of India has yet to formally announce the approval. Serum has an agreement with AstraZeneca to roll out at least one billion doses and has already made millions of shots. The move came just days after the U.K. regulator gave clearance to the vaccine, which is to roll out to Britain’s most vulnerable groups from Monday.

Astra-Oxford Covid Shot Gains First Clearance With U.K. Nod

The approval means India can begin to vaccinate its population of about 1.3 billion. That’s a daunting task given the country’s vast territory, limited infrastructure and patchy health networks. The South Asian nation already has more than 10.2 million confirmed infections and as many as 149,000 deaths.

AstraZeneca’s vaccine, which has the most supply deals globally, has been pegged as a more suitable shot for reaching people in the remotes areas of India’s hinterlands than one developed by Pfizer Inc. and BioNTech SE that’s also being considered.

Cold Storage

Pfizer’s vaccine requires subzero conditions for transportation and storage, while AstraZeneca’s can be stored at refrigerator temperatures and is also expected to be cheaper.

Yet clinical trial data indicates the Astra shot may be less effective than Pfizer’s and another similar vaccine from Moderna Inc., which each showed 95% efficacy in trials.

Initial data from Astra and Oxford in November raised concern over how much protection the vaccine would offer. The trials produced two different results from two dosing regimens. The partners said their vaccine was 90% effective when a half-dose was given before a full-dose booster, and that two full doses showed an efficacy of 62%.

Astra-Oxford Vaccine Study Leaves Key Questions Unanswered

While trial results published in The Lancet found the vaccine is safe and effective, more analysis will be needed to see how well it works in people over 55, among those at higher risk from the pandemic. A U.S. trial that aims to evaluate the shot in 40,000 people is ongoing and should clarify some of these questions, with results expected early in 2021.

Local Doses

Human trials conducted by Serum in India have also been dogged by allegations from a volunteer who claimed serious side effects from the vaccine and is seeking compensation. Pune-based Serum has denied the claims and said the volunteer’s illness had nothing to do with the shot.

Serum has said half of any vaccine it produces will stay in India, with 100 million doses manufactured in December for the local inoculation drive, Chief Executive Officer Adar Poonawalla in an interview in November.

The Astra vaccine accounts for more than 40% of supplies going to low- and middle-income countries, based on agreements tracked by London-based research firm Airfinity Ltd.


## https://www.bloomberg.com/news/articles/2021-01-02/india-grants-emergency-approval-to-astra-oxford-covid-19-vaccine?srnd=premium-asia

Posted by Keyman188 > 2021-01-04 15:55 | Report Abuse

Credit Suisse targets FBM KLCI to end 2021 at 1,795 points
Wong Ee Lin

(theedgemarkets.com / January 04, 2021 14:29 pm +08)

KUALA LUMPUR (Jan 4): The FBM KLCI, which assuming a V-shaped recovery in 2021, is anticipated to end the year at 1,795 points, according to Credit Suisse’s co-head of ASEAN securities research and head of research in Malaysia Danny Goh.

The local benchmark index ended the year 2020 at 1,627.21 points.

“Historically, we have seen a very high correlation between GDP (gross domestic product) performance and market performance. So, the market does tend to trough when GDP troughs, and also [corresponds] with economic recovery,” said Goh, at Credit Suisse's 2021 ASEAN Conference media briefing.

Goh noted that Malaysia is expected to deliver the third-highest GDP growth within the region at 6.8%, which is very much dependent on the execution of Budget 2021, which includes a very large fiscal stimulus.

“That number assumes that there will not be any major lockdown in 2021. That is one risk factor to consider. But it also did not take into consideration the impact of a vaccine as well,” he added.

In terms of earnings outlook for 2021, whereby the research firm is also looking at a V-shaped earnings recovery, Goh said Malaysia is expected to deliver the highest earnings growth within the region at 59% in 2021, due to the low base effect as well because of the lockdown that has widely affected 2020.

From the said 59% growth, Goh noted that two-thirds of it will be contributed by the banks, gloves and gaming counters, which are very much dependent on the economic recovery of the country.

Nonetheless, Goh said the research firm is only expecting earnings to recover to pre-Covid levels by 2022, if excluding glove makers.

“On an aggregate basis, [we are expecting] numbers to actually surpass 2019 in 2021. But if we were to take out [glove makers] from that, then actually we are really not assuming recovery in earnings for the rest of the sectors to pre-Covid level as yet,” said Goh.

Additionally, Credit Suisse is also expecting a return-on-equity (ROE) to rebound to 9.3% in 2021, from its all-time low of 6.1% in 2020. “This is something that will drive the re-rating of the market in 2021,” he noted.

Historically, Malaysia has been able to deliver low-teens kind of ROE but have seen compression in ROE over the last three years, Goh said.

In terms of valuation, he said the KLCI is currently trading at 9% discount to ASEAN peers, adding that the market is cheaper when compared with its historical valuations — which is at a 14 times P/E versus a historic average of close to 16 times.

P/B-wise, the market is trading at an all-time low of 1.4 times, Goh noted.

As the market in 2021 will not be a straightforward year, he suggested investors to strike a balance between recovery and defensive play.

Among the recovery plays, he suggested the banks, gaming, construction, property, and conglomerates, while sectors that are less dependent on economic recovery are the gloves, healthcare and technology counters.

At noon break, KLCI was down 26.56 points or 1.63% at 1,600.65, mainly pulled down by the glove counters.


## https://www.theedgemarkets.com/article/credit-suisse-targets-fbm-klci-end-2021-1795-points

Posted by Keyman188 > 2021-01-06 08:47 | Report Abuse

Maybank Kim Eng sets KLCI year-end target at 1,830, supported by corporate earnings growth, ample liquidity

(theedgemarkets.com / January 05, 2021 16:17 pm +08)

KUALA LUMPUR (Jan 5): Maybank Kim Eng is projecting for the FBM KLCI to end higher at 1,830 points this year, buoyed by better corporate earnings growth and ample liquidity.

The target represents an upside of 14.1% to the KLCI’s level at 1,603.90 as at 3.10pm today.

The local benchmark index ended the year 2020 two trading days ago at 1,627.21. Its intraday high for the year was 1,695.96 on Dec 14, while its intraday low was 1,207.80 on March 19, a day after the movement control order (MCO) was imposed by the government.

Looking at the new year, Maybank Kim Eng head of regional equity research Anand Pathmakanthan said both the corporate earnings outlook and liquidity are “looking good” in 2021, thereby supporting the KLCI performance moving forward.

“For [corporate] earnings growth, we are looking at a very sharp recovery in 2021, which [is] expected to grow by 45% year-on-year (y-o-y), compared to a 11% contraction in 2020,” said Anand at a virtual media briefing on “Maybank Investment Bank’s 2021 Malaysia Outlook”.

According to him, the corporate earnings growth spurts would be due to a low-base effect from last year.

Also, he pointed out that the government's stimulus spending will support the overall economy growth, hence boding well for the corporate earnings growth outlook.

Earnings growth this year, he said, would be supported by the glove sector, which he expects to continue to do well, as well as the recovery-play sectors that include the casino and financial sectors.

Other sectors that he expects to support the earnings growth outlook are the plantation and oil and gas (O&G) sectors, driven by an upside to crude palm oil (CPO) and crude oil prices.

Another factor pushing the KLCI higher this year would be ample liquidity in the market, supported by the 125-basis point cuts in the overnight policy rate (OPR) done by Bank Negara Malaysia (BNM) last year.

“If you look at the banking system liquidity coverage ratio, [it] was at a near-record high. There was no shortage of liquidity in the system at this point of time.”

“All liquidity is looking for returns. Looking at asset classes in Malaysia, such as cash, property, fixed income and equity, equity looks more attractive as it gives higher yields,” Anand added.

Maybank Kim Eng has “overweight” calls for the mid-cap financials, utilities, healthcare, automotive, large-cap O&G, construction, plantation and technology sectors.

In contrast, it has given “underweight” ratings to aviation and the mid-cap O&G stocks.


## https://www.theedgemarkets.com/article/maybank-kim-eng-sets-klci-yearend-target-1830-supported-corporate-earnings-growth-ample

Posted by Keyman188 > 2021-01-15 08:28 | Report Abuse

Biden’s $1.9 trillion Covid relief plan calls for stimulus checks, unemployment support and more

(PUBLISHED THU, JAN 14 20215:00 PM ESTUPDATED THU, JAN 14 20215:52 PM EST)


~ President-elect Joe Biden on Thursday unveiled the details of a $1.9 trillion coronavirus rescue package.

~ The proposal, titled the American Rescue Plan, includes familiar stimulus measures with the goal of sustaining families and firms until vaccines are widely distributed.

~ The current plan is the first of two major spending initiatives Biden will seek in the first few months of his presidency.


President-elect Joe Biden on Thursday unveiled the details of a $1.9 trillion coronavirus rescue package designed to support households and businesses through the pandemic.

The proposal, called the American Rescue Plan, includes several familiar stimulus measures in the hope the additional fiscal support will sustain U.S. families and firms until the Covid-19 vaccine is widely available.

Here’s what Biden calls for:

Direct payments of $1,400 to most Americans, bringing the total relief to $2,000, including December’s $600 payments

Increasing the federal, per-week unemployment benefit to $400 and extending it through the end of September


Increasing the federal minimum wage to $15 per hour

Extending the eviction and foreclosure moratoriums until the end of September

$350 billion in state and local government aid

$170 billion for K-12 schools and institutions of higher education

$50 billion toward Covid-19 testing

$20 billion toward a national vaccine program in partnership with states, localities and tribes

Making the Child Tax Credit fully refundable for the year and increasing the credit to $3,000 per child ($3,600 for a child under age 6)
The plan is the first of two major spending initiatives Biden will seek in the first few months of his presidency, according to senior Biden officials.

The second bill, expected in February, will tackle the president-elect’s longer-term goals of creating jobs, reforming infrastructure, combating climate change and advancing racial equity.

Senior Biden officials, who have been working on the stimulus plan for weeks, also confirmed that the president-elect still supports $10,000 in student debt forgiveness. Biden will formally introduce the plan during a speech at 7:15 p.m. ET from Wilmington, Delaware.

Fellow Democratic leaders were quick to applaud the measure, with House Speaker Nancy Pelosi and incoming Senate Majority Leader Chuck Schumer issuing a joint statement.

“With the COVID-rescue package the President-elect announced today, he is moving swiftly to deliver that help and to meet the needs of the American people. House and Senate Democrats express gratitude toward and look forward to working with the President-elect on the rescue plan,” the two said in a press release.

“The emergency relief framework announced by the incoming Biden-Harris administration tonight is the right approach,” the pair added. “It shows that Democrats will finally have a partner at the White House that understands the need to take swift action to address the needs of struggling communities.”

The nearly $2 trillion price tag will likely draw disdain from Republicans such as Sen. Rand Paul of Kentucky who may be wary of spending even more after December’s $900 billion bill.

Still, Biden officials said Thursday they are optimistic that the current rescue package has enough in it to make it palatable to lawmakers across the political spectrum and that the president-elect has been consulting congressional allies in recent weeks on the best path toward approval.

Sen. Marco Rubio, R-Fla., offered early bipartisan support for Biden’s spending plans. Earlier this week, Rubio implored the president-elect to make direct payments of $2,000 a top priority.

“All across our nation, people are looking for answers and demanding accountability, but they are also desperate for hope: hope that political leaders in Washington can begin taking steps to heal our deeply divided nation,” Rubio wrote in a letter to Biden dated Tuesday.

“It would send a powerful message to the American people if, on the first day of your presidency, you called on the House and Senate to send you legislation to increase the direct economic impact payments to Americans struggling due to the pandemic from $600 to $2,000,” he added.

Most economists, including Federal Reserve Chairman Jerome Powell, warn that additional Covid-19 relief funding and economic stimulus may be needed to help businesses stay afloat until the broader population has access to vaccines.


## https://www.cnbc.com/2021/01/14/biden-stimulus-package-details-checks-unemployment-minimum-wage.html

Posted by Keyman188 > 2021-01-15 08:48 | Report Abuse

Powell sees no interest rate hikes on the horizon as long as inflation stays low

(PUBLISHED THU, JAN 14 20212:08 PM ESTUPDATED THU, JAN 14 20214:02 PM EST)

~ “When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon,” the Fed chief said Thursday.

~ Powell addressed a range of issues during a Q&A session presented by Princeton University.

~ Should inflation accelerate, Powell said “we have the tools for that, and we will use them.”


Federal Reserve Chairman Jerome Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.

“When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon,” the central bank chief said Thursday during a Q&A session presented by Princeton University.

During the wide-ranging discussion, Powell spoke about how the Fed handled the challenges brought on by the Covid-19 pandemic as well as his expectations for what is ahead.

In its most recent policy statement, issued in December, the policymaking Federal Open Market Committee said it would keep an accommodative stance until it sees “substantial further progress” toward its employment and inflation goals.

On the employment mandate, Powell stressed the Fed’s new approach to inflation in which it will not raise rates even if unemployment falls below levels that historically would have been considered a warning sign for pricing pressures ahead.

“That wouldn’t be a reason to raise interest rates, unless we start to see inflation or other imbalances that would threaten the achievement of our mandate,” he said.

One such imbalance would be inflation. In recent days, a few Fed officials have cautioned that inflation could move up sooner than the central bank expects and might force the removal of some policy accommodation sooner than committee members have forecast.

The Fed’s benchmark short-term borrowing rate is anchored near zero and it is continuing to buy at least $120 billion in bonds each month. Core inflation is running around 1.4%, well below the Fed’s 2% target.

“If inflation were to move up in ways that are unwelcome, we have the tools for that, and we will use them,” he said. “No one should doubt that.”

Powell noted that even though the economy faces powerful challenges and there is a long way to go until the labor market heals, there’s reason for optimism.

“We were in a good place in February of 2020, and we think we can get back there, I would say, much sooner than we had feared,” he said.

Powell spoke the same day that the Labor Department reported the highest rise in jobless claims since August.

That release itself came the week after the department reported that nonfarm payrolls fell in December for the first time since April amid a crush on the leisure and hospitality sector due to Covid-related restrictions.

Despite those challenges, Powell said the economy faces a bright future in part because of the lack of contagion that happened during the financial crisis in 2008. There has been some concern expressed over the continuous surge in corporate debt as well as stretched stock market valuations, but the Fed chair said he’s not concerned about those issues.

“Every economy, and certainly our economy, faces plenty of longer-run challenges,” he said. “But I would say there were no obvious imbalances that threatened the ongoing expansion. You really can’t identify something that looked like if this blows up, the expansion.”


## https://www.cnbc.com/2021/01/14/powell-sees-no-interest-rate-hikes-on-the-horizon-as-long-as-inflation-stays-low.html

Posted by Keyman188 > 2021-02-03 12:08 | Report Abuse

Malaysia says its delivery of Pfizer vaccines on track

(February 02, 2021 20:19 pm +08)

KUALA LUMPUR (Feb 2): Malaysia said on Tuesday it expects its Covid-19 vaccination plan to proceed as scheduled after the government received assurances from the EU and Belgian ambassadors about the delivery of Pfizer's vaccine.

The Pfizer vaccine is produced in Belgium and the European Commission said on Friday it had agreed a plan to control exports of vaccines from the European Union, including to Britain, arguing it needed to do so to ensure its own supplies.

Malaysia's science minister, Khairy Jamaluddin, said Belgian ambassador Pascal Gregoire gave his assurance that the Southeast Asian nation's advanced purchase agreement with Pfizer will be fulfilled, upon Pfizer applying for export authorisation.

"With the assurances of both the EU and Belgian Ambassadors, the Covid-19 immunisation plan is expected to proceed according to plan," Khairy said in a statement.

Malaysia announced on Monday that it expected to receive the first batch of Pfizer's vaccine, jointly developed by the US drugmaker and German partner BioNTech, on Feb 26.

In November, Malaysia announced it had agreed to buy 12.8 million doses of the vaccine, with the first one million doses scheduled for the first quarter of this year. Deliveries of 1.7 million, 5.8 million and 4.3 million doses will follow in subsequent quarters.

Malaysia also signed a second deal with Pfizer to secure an additional 12.2 million doses of the vaccine, besides agreements to buy 18.4 million doses of other vaccines produced by Russia's Gamaleya Research Institute and China's Sinovac.


## https://www.theedgemarkets.com/article/malaysia-says-its-delivery-pfizer-vaccines-track

Posted by Keyman188 > 2021-02-03 15:20 | Report Abuse

KLIC already far left behind other regions rally since Jan'21...

Consolidation & formation are over...

Are you ready to catch up upcoming rally !!!........

Posted by Keyman188 > 2021-02-04 09:58 | Report Abuse

Consecutive drop in new COVID-19 cases ‘encouraging news’: WHO

"The number of new COVID-19 cases globally has fallen for the third week in a row, the World Health Organization (WHO) reported on Monday, though urging countries not to let up efforts to defeat the disease. "

## https://news.un.org/en/story/2021/02/1083522


Are you ready to catch up upcoming bull market !!!...........

Posted by Keyman188 > 2021-02-08 12:23 | Report Abuse

Data shows COVID-19 pandemic slowing down across the world

(AFP / February 6, 2021)

~ Biggest decrease in South Africa where the number of new cases dropped by 49%

~ COVID-19 pandemic picking up most speed in Malaysia at 30% more cases

~ US had highest number of new cases, with 133,500 per day on average


## https://www.thenews.com.pk/latest/785572-data-shows-covid-19-pandemic-slowing-down-across-the-world


07/02/21 - 345,735

06/02/21 - 424,332

05/02/21 - 495,889

04/02/21 - 493,987

Posted by Keyman188 > 2021-02-15 14:25 | Report Abuse

Japan’s Nikkei 225 Touches 30,000 for First Time Since 1990

(February 15, 2021, 8:40 AM GMT+8 Updated on February 15, 2021, 12:00 PM GMT+8)

Japan’s Nikkei 225 Stock Average briefly topped 30,000 yen for the first time since August 1990, as it continued its charge back up through levels not seen since the collapse of the bubble economy.

The gauge rose as much as 1.6% on Monday, amid signs an economic recovery is intact at home and hopes of progression in U.S. stimulus talks. While equities globally have hit new heights in recent months, the Nikkei 225 still needs to gain almost another 30% to surpass its record of 38,915.87 yen. That was reached in the final trading session of 1989, before the index went on to lose more than half its value in three years after the economic bubble burst.

The brief breach of the 30,000 shows that “all sorts of investors are jumping in to buy Japanese equities with a totally bullish view,” said Shoji Hirakawa, chief global strategist at Tokai Tokyo Research Institute Co.

That view was affirmed Monday when Japan announced that gross domestic product grew an annualized 12.7% from the prior quarter in the three months through December, as exports continued to rebound and government stimulus fueled consumer spending despite the coronavirus.

The continued economic growth is one factor contributing to the strength in Japanese equities, according to Nikko Asset Management Co. chief global strategist John Vail, who hailed strong export and private capex data. Japan’s reasonable valuations compared to those during the bubble era, as well as improved profits and shareholder returns, are also strengths, he said.

“There are always doubters who perennially point to demographics,” said Vail, “but such has not prevented tremendous growth in corporate earnings, including such from Japan’s extensive global manufacturing bases.”

Foreign Buyers

Foreign investors turned net buyers in cash and futures equities for the first time in four weeks, purchasing about 856 billion yen ($8.2 billion) during the week ended Feb. 5, according to data from Japan Exchange Group. Foreigners, who offloaded more than $59 billion of local stocks last year, are expected to turn net buyers in 2021 as the economic recovery picks up globally, making export-reliant Japan attractive.

“We’re in a globally risk-on environment, but the particular strength in Japanese equities speaks to appetite for stocks sensitive to business cycles and value stocks,” said Shogo Maekawa, a strategist at JPMorgan Asset Management in Tokyo. “Foreigners may be re-evaluating Japanese equities.”

A ratio of the Nikkei 225 and the S&P 500 has been on the rise after hitting a bottom in September in another indication of foreign interest, particularly over U.S. equities.

The Nikkei 225 hit a high of 30,006.46 on Monday before paring gains. The broader Topix rose 1%, touching a fresh post-1991 high.

Takeo Kamai, head of execution services at CLSA Securities Japan Co., said whether the Nikkei 225 makes a convincing break out of the 30,000 mark will depend on how U.S. equities perform in the coming days as the domestic market lacks a catalyst of its own. “The move feels very futures-driven,” he said.

The S&P 500 ended last week at an all-time high ahead of a three-day weekend, adding more than 1% for the week.

Further Upside

Like the Dow Jones Industrial Average, the Nikkei 225 is a price-weighted measure. The two highest-weighted stocks, Uniqlo operator Fast Retailing Co. and SoftBank Group Corp., make up almost 19% of the gauge and as such have an outsized impact on its movements. Both of those stocks have surged in the past year, benefiting from the pandemic and the latter from Masayoshi Son’s record-breaking buybacks.

The price-weighted nature of the index has attracted criticism over the years for failing to accurately reflect the state of Japan’s equity market. It is also notable for its lack of some of Japan’s biggest stocks, including gaming giant Nintendo Co. and robotic automation specialist Keyence Corp. The Nikkei 500, a gauge that contains these two firms, passed its bubble-era peak in September and has continued to hit fresh records since.

Still, many analysts including JPMorgan Asset’s Maekawa see further upside in Japanese equities in the near term.

“From now toward summer, the effects of economic measures will kick in in the U.S., while economic normalization is in sight for the U.S. and Japan through the distribution of vaccines,” Maekawa said. “A rise in equities, driven by better corporate earnings, is likely to continue. Under these circumstances, we’re likely to see Japan outperform.”

## https://www.bloomberg.com/news/articles/2021-02-15/japan-s-nikkei-225-touches-30-000-yen-for-first-time-since-1990?srnd=premium-asia

Posted by Keyman188 > 2021-02-15 15:10 | Report Abuse

U.A.E. and Israel have world's fastest vaccination programs — what can the West learn from them?

Both countries were swift to secure vaccines and begin inoculating citizens

(CBC News · Posted: Feb 13, 2021 4:00 AM ET | Last Updated: February 15)

On Dec. 19, Israeli Prime Minister Benjamin Netanyahu grinned on live television as he received his first COVID-19 vaccine, signalling the start of what would become the world's fastest inoculation campaign.

But over in the United Arab Emirates, the country's health minister received his dose four months earlier after the Gulf country authorized the emergency use of the Chinese-made Sinopharm vaccine.

Since then, the U.A.E. has administered more than four million vaccine shots.

"The national campaign for the COVID-19 vaccination is one of the most-important initiatives that the U.A.E. has achieved," said Dr. Saif Al Dhaheri, spokesperson of the country's National Emergency Crisis and Disaster Management Authority, during a COVID-19 briefing last month.

According to Our World In Data numbers, Israel and U.A.E. lead the world in administered vaccinations. Both were swift to secure vaccines and begin inoculating citizens, and they are now up to a rate of roughly 71 doses per 100 people in Israel and 48 per 100 in the U.A.E., as of Friday.
A Bahraini man shows his vaccination certificate after he received dose of a COVID-19 vaccine at Bahrain International Exhibition & Convention Centre in Manama on Dec. 24, 2020. Bahrain ranks fifth jin the world in number of doses administered and has approved both the Pfizer and Sinopharm vaccines. (Hamad I Mohammed/Reuters)

Another Gulf country, Bahrain, ranks fifth in the world, with 13 doses administered per 100 people as of Wednesday. That is still more than four times the rate in Canada.

Canada has faced delays in vaccine delivery while the United States has struggled to speed up its lagging rollout. The United Kingdom ranks third worldwide in vaccination rate, but it is embroiled in a fierce feud with the European Union over vaccine exports.

Cont...

## https://www.cbc.ca/news/world/uae-israel-vaccination-1.5903244

Posted by Keyman188 > 2021-02-21 11:28 | Report Abuse

Vaccine arrives, takes Malaysia's battle against Covid-19 to next level

(February 21, 2021 10:24 am +08)

SEPANG (Feb 21): The long-awaited Covid-19 vaccine to protect Malaysia’s population arrived in the country on a special aircraft which landed at the Kuala Lumpur International Airport (KLIA) here today.

Flight MH604, bearing the Jalur Gemilang livery to symbolise the vaccine is for Malaysians, landed at 10.07am with the first batch of 312,390 doses of the Pfizer-BioNTech vaccine.

The Passenger-to-Cargo (P2C) flight used an Airbus 330-300, operated by MAB Kargo Sdn Bhd (MASkargo), the cargo arm of national carrier Malaysia Airlines Bhd.

Upon landing, the process of transferring the vaccine, which was placed in the unit load device (ULD), from the cargo section of the aircraft to a truck belonging to logistics company DHL was carried out at the Advanced Cargo Centre (ACC) of KLIA.

Among those present to witness the historic moment were Health Minister Datuk Seri Dr Adham Baba, Coordinating Minister for National Covid-19 Immunisation Programme Khairy Jamaluddin and Transport Minister Datuk Seri Dr Wee Ka Siong.

After the transfer process was completed, the truck was then escorted by police to a designated vaccine storage location as a safety measure.

The vaccine’s journey from the Pfizer plant in Belgium was handled by pharmaceutical company Pfizer and DHL, a leader in the logistics industry, under a joint partnership for the international transportation of the vaccine.

The vaccine left Puurs in Belgium and was in transit at the Leipzig Halle Airport in Germany, before continuing on its journey to Singapore for distribution to Asia-Pacific countries, including Malaysia.

The Health Ministry (MoH), on behalf of the Malaysian government, had entered into an agreement with Pfizer (Malaysia) Sdn Bhd on Jan 11 this year for the purchase of the Pfizer-BioNTech vaccine.

The arrival of the vaccine will kick-start the National Covid-19 Immunisation Programme, the largest vaccination programme ever in the country.

As one of the earliest countries in Southeast Asia to use the vaccine, Malaysia, with a population of 32 million people, is hopeful that the immunisation programme will expedite the country’s efforts to revive its economy and improve the lives of the people.

The vaccine has been certified effective and approved by the National Pharmaceutical Regulatory Agency (NPRA) of the MoH.

The immunisation programme is divided into three phases, with the first scheduled from Feb 26 to April for frontline personnel including from the MoH, Malaysian Armed Forces, Royal Malaysia Police, Civil Defence Force and Malaysian Volunteer Department (Rela).

The MoH has identified and prepared about 600 vaccination stations nationwide, among them health clinics, as well as government and private hospitals. Each station is to have seven vaccinators.

The second phase is scheduled from April to August for senior citizens aged 60 and above and vulnerable groups with morbidity issues, as well as persons with disabilities.

The third phase is to be from May to February 2022 for those aged 18 and above.

Prime Minister Tan Sri Muhyiddin Yassin is expected to receive the vaccine on the first day of the immunisation exercise on Feb 26, along with several of the frontliners.

The agreement with Pfizer (Malaysia) involves the procurement of 12,799,800 doses of vaccine, covering 20% of the population, with two doses per person.

The vaccination programme, themed 'Protect Oneself, Protect Everyone', is a government strategy to ensure that as many Malaysians as possible are vaccinated to break the chain of infection.

## https://www.theedgemarkets.com/article/aircraft-bringing-first-batch-covid19-vaccine-landed-klia-1007am


-----------Finally...Finally....Boost Great News To The Market Next Week-------------------------

Posted by Keyman188 > 2021-02-21 19:50 | Report Abuse

Economy to show positive development once Covid-19 vaccination gathers momentum — economist


(February 21, 2021 16:04 pm +08)


KUALA LUMPUR (Feb 21): The country's economy is expected to show a positive development by the middle of this year once the National Covid-19 Immunisation Programme, which begins on Wednesday, gathers momentum, an economist said.

Malaysian Academy of Sciences fellow Datuk Dr Madeline Berma said economists predicted that Malaysia would be able to revive its economy starting the third quarter of this year, depending on the smooth implementation of the vaccination programme.

"This is in line with the forecast issued by the Economic Planning Unit which expects the country's economy to recover around 4.5- to 5.0%," she said in a special coverage of the first batch of Covid-19 vaccines arrival to Malaysia on BernamaTV on Sunday.

Madeline said the services sector was one of the sectors that needed to be given priority in the vaccination programme, besides the manufacturing sector to help increase production rates.

She hopes with the national immunisation programmme underway, the country's tourism and export sectors could also be mobilised again to open more economic opportunities for industry players.

"The country's tourism and export sectors have been badly affected by the closure of national borders since the Movement Control Order was imposed," she said.

Meanwhile, Madeline said investments from international pharmaceutical companies in the research and production of the Covid-19 vaccine in the country could help reduce the unemployment rate.

She said the potential for collaborative research and vaccine production in the country would open up opportunities for recruitment of highly skilled graduates.

"We hope the presence of pharmaceutical companies that could create jobs will drive the country's economy and instils confidence in foreign and local investors that the country's economy is growing and recovering well with a good cycle.

"This is a good development in the effort towards a high-tech country, in line with the launch of the Malaysia Digital Economy Blueprint," she said.


## https://www.theedgemarkets.com/article/economy-show-positive-development-once-covid19-vaccination-gathers-momentum-%E2%80%94-economist

Posted by Keyman188 > 2021-02-22 14:12 | Report Abuse

Malaysian economy to recover in 2021 on effective vaccine deployment — World Bank

(February 22, 2021 13:20 pm +08)

KUALA LUMPUR (Feb 22): Malaysia’s economy is expected to return to positive growth this year, along with other economies globally on sustained progress in vaccine roll-outs that will boost consumption worldwide, the World Bank Group said.

Its macroeconomics, trade and investment global practice lead economist Richard Record said the group expects the vaccine deployment can be mostly completed in 2021 in most economies, leading to strong recovery and demand, as well as boosting trade and commodity prices.

“We are projecting a global growth of 4% this year. As for Malaysia, we project economic growth this year to range between 5.6% and 6.7%,” he said during the virtual 2021 Malaysia’s Economic and Strategic Outlook Forum (MESOF) titled “The Post-COVID-19 New Normal — Where Do We Go From Here” today.

The MESOF is organised by KSI Strategic Institute for Asia Pacific and co-organised by the Malaysian International Chambers Of Commerce & Industry and Economic Club of Kuala Lumpur.

Record noted that China is among the reasons of growth recorded by the Asian economies, with Malaysia included.

However, he cautioned downside risks to growth include slow progress of vaccine deployment and new containment that could lead to another movement control order (MCO), adding that consumption is the largest part of the Malaysian economy.

“Risks to the growth outlook include an unexpected delay in the vaccine roll-out, ineffective containment, an elevated number of vulnerable households and domestic political uncertainties.

“In the near term, policies should focus on containing the outbreak and protecting the most vulnerable and on rebuilding fiscal buffers as economic conditions improve,” he added.

Another panellist, Shan Saeed, the chief economist of Juwai IQI Global, said the Malaysian government continues to maintain macroeconomic stability, which is moving faster and had surprised market participants.

“The government is in total control of the economy and will continue to support [it] when required. Amalgamation of fiscal and monetary policy levers hold the key for economic growth and Bank Negara Malaysia (BNM) has lot of room to manoeuvre in the monetary landscape,” he opined.

Shan noted that the central bank would use tactical and strategic moves to maintain structural stability in the local current.

Echoing Record, Shan expects the Malaysian economy to follow China’s dual-circulation strategy to support local businesses and encourage aggregated demand at the macro level.

Sharing some of his key statistics, he said the Brent crude oil is expected to trade between US$50 (RM202) and US$70 per barrel, which could help support the ringgit trading at 3.67 to 4.10 per US dollar.

On gross domestic product (GDP), he is a bit modest, seeing the number to hover between 3% and 4%, while the central bank is expected to keep the overnight policy rate at 1% to 1.75% in 2021.

Meanwhile, Department of Statistics Malaysia (DOSM) chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the Malaysian Economic Outlook 2021 forecasts the country's external trade to grow by 3.9%, with exports of goods expected to increase by 2.7% as a result of the recovery in global trade and supply chains, while imports are expected to rise by 5.3%, contributed by an improvement in all types of imports.

“Inflation is likely to make a comeback in 2021 after a deflationary trend this year as the Covid-19 pandemic suppresses demand for goods and services.

“This is thanks to the early roll-out of a safe and effective Covid-19 vaccine and unleashing of pent-up demand in conjunction with supply shortages, which could result in an inflation comeback,” he said.

Quoting the Ministry of Finance (MoF), Mohd Uzir said inflation is projected at 2.5% versus -1.13% in 2020, signalling a stronger surge in consumer spending.

On the total labour force, he said it is projected to remain at 1.1%, while the unemployment rate is projected to decrease to 3.5% in 2021, compared with an estimation 4.5% for 2020, as the country’s economy is expected to rebound firmly in 2021 after a dismal performance in 2020 due to the pandemic.


## https://www.theedgemarkets.com/article/malaysian-economy-recover-2021-effective-vaccine-deployment-%E2%80%94-world-bank

Posted by Keyman188 > 2021-02-22 14:14 | Report Abuse

Rakuten Trade sets 2021 FBM KLCI target at 1,870 points

(theedgemarkets.com / February 22, 2021 11:41 am +08)

KUALA LUMPUR (Feb 22): Rakuten Trade Research is targeting the FBM KLCI to reach 1,870 points in 2021. At 11.33am today, the FBM KLCI was down 1.72 points to 1,583.21.

In its market outlook for the first quarter of 2021 (1Q21) briefing today, Rakuten Trade Research head of research Kenny Yee stated that this target for 2021 is based on a 15.5 times calendar year 2021 (CY21) price-to-earnings (PE) ratio, driven by solid earnings growth as well as prevailing alluring market valuations.

Earlier during his presentation, Yee said the research house had raised its corporate earnings recovery estimates for 2021 to 38.7%, from 35.3% previously.

“For 2021 everyone is expecting solid earnings growth from our corporates, especially among our KLCI constituents,” he noted.

Yee opined that among the FBM KLCI constituents for 2021, the manufacturing sector (which is inclusive of rubber glove stocks), the banking sector and companies in the “others” segment such as IHH Healthcare Bhd, Dialog Bhd and MISC Bhd would lead the charge in terms of the earnings growth.

Particularly in the case of Dialog and MISC, the higher crude oil prices would help to lift earnings.

The head of research opined that the estimated PE ratio in 2021 for the FBM KLCI was low at 13.8 times, compared to the 18.8 times five-year average PE ratio seen.

“This is a good sign, considering that Malaysia has been considered to have been trading on a higher valuation as compared to our regional peers. We are always deemed as a more expensive market.

"Due to the robust earnings growth forecasted this year, and the lack of buying interest from the funds, our valuations have been rendered very attractive for the moment, below 14 times at current levels,” he said.

He noted that corporate earnings in Malaysia are more broad-based, as they are mainly led by higher crude oil and crude palm oil prices, as well as glove manufacturing.

At the same time, Yee also highlighted that the PE ratios at Wall Street have expanded. For example, the Nasdaq year-to-date PE ratio stands at 28 times, from the 21 times achieved in 2020 and 16 times in 2015.

As such, he believes that Wall Street is highly susceptible to the slightest hint of negative news, and forecasted high volatility ahead.

“Thus, we should see some of these funds to flow into emerging markets, especially Asia. Though Malaysia is not in the 'Premier League', we reckon we will benefit from the spillover effects,” he viewed.

When the buyers do return, Yee reckoned Malayan Banking Bhd, CIMB Group Holdings Bhd, RHB Bank Bhd, Sime Darby Plantation Bhd, IOI Corp Bhd and Hap Seng Consolidated Bhd to be the prime beneficiaries.

Other companies that are also on the radar in this respect are Maxis Bhd, Axiata Group Bhd, Digi.Com Bhd and Dialog, whose earnings are expected to be reasonable this year, expanding between 10% and 20%.


## https://www.theedgemarkets.com/article/rakuten-trade-sets-2021-fbm-klci-target-1870-points

Posted by Keyman188 > 2021-03-08 08:16 | Report Abuse

U.S. Economy Ready to Surge With Big Stimulus, Fast Vaccines

(March 7, 2021, 2:00 AM GMT+8 Updated on March 7, 2021, 3:41 AM GMT+8)

~ Growth estimates have jumped in light of recent developments

~ Gains may give some pause on massive infrastructure package

With Democrats on the verge of passing an almost $2 trillion stimulus bill and Covid-19 vaccinations moving ahead, the U.S. economic outlook is much sunnier than it looked in early January.

The latest Bloomberg monthly survey of economists shows the annualized pace of growth in the first quarter will be 4.8%, twice as fast as respondents expected just two months ago. For the full year, gross domestic product is projected to rise 5.5%, which would be the fastest since 1984 and is up from January’s estimate of 4.1%.

After January’s key run-off elections in Georgia, where Democrats secured two Senate seats to win slim control of the chamber from Republicans, economists were generally penciling in a pandemic relief package worth around $1 trillion. Democrats stuck together to push through a bill almost double that size; no Republican senators voted for the plan on Saturday. The measure next goes back to the House for a final vote, expected to be Tuesday.

President Joe Biden, speaking Saturday after the Senate vote, looked for a major boost to the economy.

“This will create millions of new jobs,” Biden told reporters at the White House. “It’s estimated over 6 million new jobs by itself; increase the gross domestic product by a trillion dollars.”

“As tough as this moment is, there are brighter days ahead -- there really are,” Biden said. “It’s never been a good bet to bet against America.”

An additional round of $1,400 stimulus checks for millions of Americans, combined with supplemental jobless benefits and the acceleration in vaccinations, should help sustain growth throughout the year, said Stephen Stanley, chief economist at Amherst Pierpont Securities LLC.

Government stimulus will “give a shot of adrenaline for a short period of time,” Stanley said. He noted that “it will kind of fade out, and the more fundamental aspect of things, which is really just opening up and getting back to something closer to the pre-pandemic norm for activity, should kick in.”

Cont...


## https://www.bloomberg.com/news/articles/2021-03-06/u-s-economy-ready-to-surge-with-stimulus-expanding-vaccines?srnd=premium-asia

Posted by Keyman188 > 2021-03-08 08:24 | Report Abuse

Maybank IB reiterates FBM KLCI year-end target at 1,830

(Bernama / March 03, 2021 15:28 pm +08)

KUALA LUMPUR (March 3): Maybank Investment Bank Bhd (Maybank IB) has maintained its end-2021 target for the FBM KLCI at 1,830, reflective of an equities-supportive environment of accelerating earnings recovery, ample market liquidity and relative attraction on ringgit-fixed income.

The investment bank also upgraded ratings for banks to “overweight” and consumer to “neutral”, while revising higher earnings and valuation drivers for plantations, as well as technology and semiconductor stocks.

“Notwithstanding, a modest contraction in seasonally-adjusted in the fourth quarter of 2020 (4Q20) gross domestic product due to the impact of the conditional movement control order from mid-October to early-December, core net profit of our research universe powered ahead to a second consecutive quarter of quarter-on-quarter earnings expansion, at +13.5%,” Maybank IB said in a research note on Wednesday.

The investment bank noted that three sectors reported earnings outperformance versus expectations in 4Q20, namely construction, oil and gas, and transport.

“While re-imposition of the movement control order (MCO) since January and vaccine rollout that kicked off late February will weigh on the first quarter of 2021 economic performance, a sustained recovery is expected from the second quarter of 2021 onwards as domestic lockdown measures are rolled back and global demand strengthens,” said Maybank IB.

The investment bank estimates core earnings for stocks under its coverage to rebound by a higher +44.3% year-on-year for 2021 versus +43.8% previously, and for the FBM KLCI by +50.1%.

“Almost all sectors are to see double-digit growth, with key drivers being the gloves sector, where we expect earnings to double year-on-year, (pulling back in 2022E), and banks/financials, where earnings are to rebound +20.0% year-on-year, after 2020E’s provisioning and net interest margin-led -20.8% year-on-year decline,” it added.


## https://www.theedgemarkets.com/article/maybank-ib-reiterates-fbm-klci-yearend-target-1830

Posted by Keyman188 > 2021-03-08 11:07 | Report Abuse

Strong buying interest & momentum today...


KLCI uptrend momemtum @ 1622 now (+22 pt)...

Posted by Keyman188 > 2021-03-08 11:09 | Report Abuse

Expected closing for 1Q 2021 KLCI index @ 1645 ~ 1665 range...

Posted by Keyman188 > 2021-03-09 08:46 | Report Abuse

Cathie Wood says the underlying bull market is strengthening and she’s finding great buying opportunities in the sell-off

(PUBLISHED MON, MAR 8 20213:39 PM ESTUPDATED MON, MAR 8 20215:50 PM EST)

~ Cathie Wood is not scared of the recent pullback in her ETFs.

~ The founder of Ark Invest said its good for her long-term strategy when the bull market broadens to other pockets of the market.

~ “We are becoming more and more optimistic about our portfolios in this sell-off,” she told CNBC’s “Closing Bell” on Monday.


Ark Investment Management founder and CEO Cathie Wood said she is not worried about the recent drop in her funds and that the bull market is simply broadening out to include more strategies like value.

The hot-handed investor added that over time her disruptive strategy will pay off, and she’s capitalizing on the sell-off.

“Right now the market is broadening out and we think in an underlying sense the bull market is strengthening and that will play to our benefit over the longer term,” Wood said on CNBC’s “Closing Bell” on Monday.

Wood manages five ETFs focused around “disruptive innovation” that have raked in more than $15 billion of investor money this year alone. Ark’s flagship fund — Ark Innovation — returned nearly 150% in 2020 as the pandemic accelerated innovation trends and now has more than $17 billion in net assets. However, ARKK is down more than 11% this year amid recent weakness in technology stocks, pressured by rising interest rates.

“We are getting great opportunities” in the sell-off to buy the pure play names in the funds, said Wood. “When we get opportunities like this to invest in pure plays instead of more mature plays...we will move back into pure plays.”

“We are becoming more and more optimistic about our portfolios in this sell-off,” she added.

Wood took the recent tech weakness as an opportunity to buy the dip in some of her ETF’s top holdings. Wood has made big purchases of Tesla, Teladoc, Zoom Video and Palantir, according to the firm’s disclosures. Ark Innovation also scooped up shares of Square, Roku, Zillow and Shopify recently.

Investors have exited some of their high growth names as bond yields rise in recent weeks. Wood said Ark Invest is struck that the market never priced in 0.5%, 1%, or 1.5% yield on the U.S. 10-year Treasury.

“We do think the speed of the increase in interest rates is scaring people. It became very comfortable in a low interest rate environment: nothing much changing, the Fed has our back and so forth,” said Wood.

Wood added that this type of pullback happened to Ark during the fourth quarter of 2016, when President Donald Trump was elected and promised to lower tax rates. During that period, Ark’s strategies went negative.

“The bull market was broadening out to incorporate value or more cyclical sectors and I thought that was going to be very good news for our strategies longer run. The worst thing that could have happened to us what another tech and telecom bubble where the market narrowed so that only a few groups won,” said Wood.


## https://www.cnbc.com/2021/03/08/cathie-wood-says-the-underlying-bull-market-is-strengthening-will-benefit-arks-strategy-over-time.html

Posted by Keyman188 > 2021-03-10 10:15 | Report Abuse

Keyman188 already highlighted to the market...


1Q 2021 KLCI index closing shall be @ 1645 ~ 1665 range





Posted by Keyman188 > Mar 8, 2021 11:09 AM | Report Abuse X

Expected closing for 1Q 2021 KLCI index @ 1645 ~ 1665 range...

Posted by Keyman188 > 2021-03-10 20:28 | Report Abuse

Morgan Stanley is bullish on these Asia-Pacific markets as they bounce back from the pandemic

(PUBLISHED TUE, MAR 9 202111:38 PM EST)

~ Morgan Stanley is bullish on Australia, India and Singapore – Asia-Pacific countries that have handled the coronavirus pandemic better than elsewhere, says Jonathan Garner, managing director and chief Asia and emerging markets equity strategist from the investment bank.

~ With the world starting to reopen as coronavirus vaccines become more readily available, these countries are showing significant growth momentum, he said.

Morgan Stanley is bullish on Australia, India and Singapore.

The three countries stand out among those in Asia-Pacific that have handled the coronavirus pandemic well, said Jonathan Garner, who is managing director and chief Asia and emerging markets equity strategist at the investment bank.

With the world starting to reopen as coronavirus vaccines become more readily available, these countries are showing significant growth momentum, Garner told CNBC’s “Squawk Box Asia” on Tuesday.

Australia: banking and materials

For Australia, Garner is optimistic about the country’s materials and banking sectors.

“The materials sector has been a preference of ours for some time. But we’re now well through the worst of the valuation adjustment for the banks,” he said.

Garner also noted Australia’s growth is rebounding “very significantly” and said the country is “one of the geographies that’s probably handled the Covid situation better than elsewhere.”

Australia’s economy expanded at a faster-than-expected pace in the fourth quarter of 2020, and there are signs that 2021 has started on a firm footing too, helped by massive monetary and fiscal stimulus.

The economy accelerated 3.1% in the three months to December, data from the Australian Bureau of Statistics showed.

India: V-shaped bounce

Similarly, Garner is bullish on India’s management of the pandemic, saying that it has handled the crisis better than some countries in Latin America and the Middle East.

According to data compiled by Johns Hopkins University, India has the second highest number of Covid-19 cases, behind only the United States. More than 157,900 people have died of complications related to the disease. But the country has recorded a steady decline in the number of daily new deaths since October, as the government continues to make progress in its vaccination rollout.

India stands to benefit from polices and reforms announced in the February budget that are aimed at getting growth back on track, according to Garner. He explained that the budget included “constructive” measures such as continued fiscal support for the economy. There were also announcements related to the government’s commitment to privatizing state-owned assets, he said.

“In terms of GDP growth and the kind of countries that we expect will exhibit the most V-shaped bounce back – India is right at the forefront of that,” Garner added.

S&P Global Ratings predicted in February that India is on track to recover from the pandemic-induced contraction and South Asia’s largest economy could grow 10% in fiscal 2022. But, some analysts have warned that a potential consumer credit crisis could derail progress.

Singapore: helped by higher oil prices

While Singapore handled the pandemic well by global standards, it stands to gain from other countries reopening their economies and implementing policies aimed at higher spending and output expansion.

The city-state is also set to benefit from higher oil prices, according to Garner.

Singapore is a net importer of oil. The country is a major player in the global offshore and marine industry where local companies dominate the market for oil rigs construction. It is also an important source of refined oil. Developments in these areas directly affect the Singapore economy as well as the stock market.

Brent crude futures jumped above $70 for the first time in more than a year on Monday, after Saudi Arabia said its oil facilities were targeted by missiles and drones on Sunday. But the global benchmark could not continue the momentum and prices retreated to below $70 after the kingdom said its oil facilities did not suffer any significant structural damage.

Singapore is “positively geared to the upside surprise that we’re getting in oil, which again it’s an interesting feature of the current environment. The energy sector is starting to work quite well globally,” he said.


## https://www.cnbc.com/2021/03/10/morgan-stanley-is-bullish-on-australia-india-and-singapore.html

Posted by Keyman188 > 2021-03-10 20:28 | Report Abuse

Excellent bursa malaysia market today...

Highest reached @ 1642....

Substantial closing @ 1639 (+15 pt)...


Keyman188 already highlighted to the market...


1Q 2021 KLCI index closing shall be @ 1645 ~ 1665 range





Posted by Keyman188 > Mar 8, 2021 11:09 AM | Report Abuse X

Expected closing for 1Q 2021 KLCI index @ 1645 ~ 1665 range...

Posted by Keyman188 > 2021-04-06 20:53 | Report Abuse

IMF increases global growth forecast and says a way out of the crisis is ‘increasingly visible’

(PUBLISHED TUE, APR 6 20218:31 AM EDTUPDATED TUE, APR 6 20218:38 AM EDT)

~ The latest round of fiscal stimulus in the U.S. along with the vaccine rollouts across the world have made the Fund more confident about the global economy this year.

~ The latest forecasts suggest the United States is well placed to experience a solid economic recovery in 2021, in contrast to what’s expected for most of the world, where many economies are likely to take longer to return to their pre-crisis levels.


LONDON — The International Monetary Fund is now expecting a stronger economic recovery in 2021 as Covid-19 vaccine rollouts get underway, but it warns of “daunting challenges” given the different rates of administering shots across the globe.

On Tuesday the group said it expects the world economy to grow by 6% in 2021, up from its 5.5% forecast in January.

Looking further ahead, global GDP (gross domestic product) for 2022 is seen increasing by 4.4%, higher than an earlier estimate of 4.2%.

“Even with high uncertainty about the path of the pandemic, a way out of this health and economic crisis is increasingly visible,” Gita Gopinath, the IMF’s chief economist, said in the latest World Economic Outlook report.

The latest round of fiscal stimulus in the U.S., along with the vaccine rollouts across the world, have made the fund more confident about the global economy this year.

“Nonetheless, the outlook presents daunting challenges related to divergences in the speed of recovery both across and within countries and the potential for persistent economic damage from the crisis,” Gopinath also said.

The IMF estimated a 5.1% GDP rate for advanced economies this year, with the United States growing at a pace of 6.4% in 2021.

Meanwhile, the forecast for emerging and developing economies is 6.7% in 2021, with India expected to grow as much as 12.5%.

“Within-country income inequality will likely increase because young workers and those with relatively lower skills remain more heavily affected in not only advanced but also emerging markets and developing economies,” Gita warned, while also adding that lower levels of female employment is exacerbating disparities too.

As a result, the IMF said that governments should continue to focus on “escaping the crisis” by providing fiscal support, including to their healthcare systems. In a second phase, “policymakers will need to limit long-term economic scarring” from the crisis and boost public investment, for instance.

“Without additional efforts to give all people a fair shot, cross-country gaps in living standards could widen significantly, and decades-long trends of global poverty reduction could reverse,” Gopinath warned.

Recovery in the U.S.

The latest forecasts suggest the United States is well placed to experience a solid economic recovery in 2021, in contrast to what’s expected for most of the world, where many economies are likely to take longer to return to their pre-crisis levels.

The positive assessment for the U.S. is highly driven by President Joe Biden’s $1.9 trillion coronavirus rescue package, which entered into force last month.

As such, unemployment in the United States is expected to fall from 8.1% in 2020 to 5.8% this year and then again to 4.1% in 2022, according to the latest IMF projections.

Back in February, Treasury Secretary Janet Yellen said the U.S. could return to full employment in 2022. “There’s absolutely no reason why we should suffer through a long slow recovery,” she told CNN at the time.

The IMF’s latest forecasts confirm that the U.S. is on track to not only return but surpass its pre-Covid levels this year.

“Among advanced economies, the United States is expected to surpass its pre-Covid GDP level this year, while many others in the group will return to their pre-COVID levels only in 2022,” Gita said.


## https://www.cnbc.com/2021/04/06/imf-world-economic-outlook-april-2021-global-gdp-to-hit-6percent.html

Posted by Keyman188 > 2021-04-06 20:55 | Report Abuse

Well-prepared for 2nd half 2021...

KLCI constituents will be driven the whole market upcoming...

Please don't underestimate the KLCI constituents empowerment...

Posted by Keyman188 > 2021-04-07 22:27 | Report Abuse

JPMorgan’s Dimon Says ‘This Boom Could Easily Run Into 2023’

(April 7, 2021, 6:10 PM GMT+8Updated on April 7, 2021, 9:39 PM GMT+8)


Jamie Dimon said he’s optimistic the pandemic will end with a U.S. economic rebound that could last at least two years.

“I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom,” the JPMorgan Chase & Co. chief executive officer said Wednesday in his annual letter to shareholders. “This boom could easily run into 2023.”

Unprecedented federal rescue programs have blunted unemployment and averted further economic deterioration, according to Dimon, who said banks entered the crisis strong and able to help communities weather the storm. While lenders also benefited from U.S. stimulus, they built up buffers against future loan losses and performed well in stress tests, he said.

Dimon also pointed to U.S. consumers, who used stimulus checks to reduce debt to the lowest level in 40 years and stashed them in savings, giving them -- like corporations -- an “extraordinary” amount of spending power once lockdowns end. The latest round of quantitative easing measures will have created more than $3 trillion in deposits at U.S. banks, a portion of which can be lent out, he said.

It could all add up to a Goldilocks moment, according to Dimon, where growth is fast and sustained while inflation ticks up gently. Threats to that outcome include virus variants and a rapid or sustained jump in inflation that prompts rates to rise sooner.

At 65, Dimon is the most prominent executive in global banking, serving as a spokesman for the industry while leading a titan of both Wall Street and consumer lending. He’s run the company since the end of 2005, and is the only CEO still at the helm after steering a major bank through the financial crisis.

The 65-page letter (plus a page of footnotes) is Dimon’s longest yet, following last year’s abbreviated one that came less than a week after he returned to work from emergency heart surgery. As always, it is wide-ranging, touching on topics from financial regulation to China to inequality and institutional racism.


## https://www.bloomberg.com/news/articles/2021-04-07/dimon-says-fintech-and-big-tech-are-here-as-banks-lose-ground?srnd=premium-asia

Posted by Keyman188 > 2021-04-07 22:30 | Report Abuse

Upcoming season...focus more on KLCI constituent stocks & mid cap stocks which left behind rally...