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Location: carl sagan's universe
Posted on: 28-01-08 07:35:07
China tumbles 7 percent
SINGAPORE, Jan. 28, 2008 (Thomson Financial delivered by Newstex) -- (Updates with closing figures throughout)
Stock markets across Asia accelerated their losses late Monday, with the Shanghai Composite leading the selloff with a more than 7 pct decline, as investors tracked Wall Street's lacklustre performance Friday and awaited some key events in the US this week.
US president George Bush is scheduled to deliver his State of the Union address later today and investors are expecting an update on the government's proposed 145 bln usd stimulus plan.
On Tuesday, the US Federal Reserve kicks off its first meeting of the year. Fed fund futures traded on the Chicago Mercantile Exchange show markets pricing in another 25 basis-point move at its conclusion Wednesday, scaling back expectations for a bigger move following last week's surprising 75 basis-point intrameeting cut.
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-22566170.htm
HK down 1000+ points
BSE down 200+ points. However it hit a low of 17443 before climbing to close at 18152.78
This data was last updated on Monday, January 28, 2008 4:00:35 PM
Index Open High Low Current Value Previous Close Change(Pts) Change(%)
SENSEX 18,011.89 18,213.21 17,443.29 18,152.78 18,361.66 -208.88 -1.14
It seems the only index in that region to close in + territory was Pakistan.
Dow futures are down. The futures market in Chicago is pricing in a 25 basis point reduction in interest rate on Wdnesday. US Fed convenes tomorrow for first time this year.
Yeah volatility with a downward bias seems to be the order of the day and the US Dow still shows this time around to be one that sets the pace.
October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, Deccember, August and February - Mark Twain.
Intersting read - your posts!
What is your take on north american markets? Where would China be after Olympics? If greenback would be discarded as reserve - then what could replace it? Most importantly are you an investor for long run or a day trader of somekind? Just interested in knowing.
Regards
Location: carl sagan's universe
Posted on: 29-01-08 07:05:15
Quote:
Originally posted by Kadambari
October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, Deccember, August and February - Mark Twain.
Intersting read - your posts!
What is your take on north american markets? Where would China be after Olympics? If greenback would be discarded as reserve - then what could replace it? Most importantly are you an investor for long run or a day trader of somekind? Just interested in knowing.
Regards
Re Mark Twain's quote- it is all dependent on the person, just cause someone who lived a quadrillion years ago- so to speak- said it, no big deal.
Anyway to each his/her own. I have been INVESTED (as opposed to SPECULATE - as in the quote) in the North American markets since 1982 and man, I don't see anything dangerous about it. My initial investment then has grown multifold and also I have a small amount going in every month since then.
Same with the HK market- except there I put in money in the 70s and it is still there having grown manifold.
Invested in the BSE from 1999 onwards and still it is growing.
For me - Mark Twain's above mentioned words have no meaning. He may have excelled in other fields.
Thanks- glad you find my posts interesting.
As I am a long haul dude, the US will climb. The best is yet to come. It ain't gonna stick at a 14000 high.
However better to put money in emerging markets now. Plenty of clout there and a lot of pent up demand.
China after Olmpics will still very much be there with its billion + residents wanting more. When the SSEC was in the high 5000s the gurus said that China markets would climb till the Olmpics and then crash 30% before climbing. Right now their story is different as the SSEC has hit the mid 4000s.
All bunkum- these financial mavens- I tell it to them straight to their faces. Full of scatological material at times, but still we like to quote them and listen to them- way of the world.
They say the next hungry billion will come from Latin America and Emerging Europe and then the next billion after that from Africa. Plenty of room to grow. Just switch your money around.
The US buck dumped as a reserve- that day is a long way off. Though soveriegn monetary reserves may skew in favor of Euros slightly, esp now with the interest on it higher than the buck.
People in the financial world still remember the time when everybody said that the Yen would replace the buck as a reserve esp since it went from Yen 300 in the 70s to Yen 100 a USD in a short time.
They also said Japan would dominate the world and own US inc. Has it?
Of course the scenario is different now, but people will like to see the staying power of the emerging markets before commenting further.
My personal take is that the US still pulls the strings
Location: carl sagan's universe
Posted on: 29-01-08 07:12:49
China up slightly. HK up, however down from its opening high.Japan up
Gold up. Silver up. BSE down slightly.
Oil steady.
Fed to meet today and announce rates tomorrow.
Location: carl sagan's universe
Posted on: 30-01-08 07:04:13
China and HK down.Japan down. BSE down.
DAX, CAC, FTSE down.
Yesterday Dow and TSX up.
The House has approved $146b stimulus package. Gone to senate for approval. Should boost NA markets again today.
Location: carl sagan's universe
Posted on: 01-02-08 09:47:03
China down to 4320.77
HK up to 24123.60
BSE up to 18233.42
Dow and TSX up yesterday. Dow futures up today.
Europe up today.
Met Steve Forbes of the famous Forbes mag yesterday. Maintains that lots of liquidity in the world and mortgage mess is temp. US has got 100 trillion in assets. Decoupling of world markets? He says they are more interdependent than before. China exports have grown from 20% to 40% to US in last decade.
NASSCOM of India reports that by 2012 IT bznz to go upto $50 billion. So the world is flat. All countries will depend on each other even more.
That's in a nutshell. He had lots more to say. Also that Canada's taxation is too high (See DesiTiger's links) and they should lower it.
Real cool guy. Lotsa humour.
Nice to know you and your views!
Thank you.
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