Saturday, 4 October 2008

They Bought in Anticipation and Sold on News

Investors offloaded after learning US Senate had passed bailout bill

High Loan Exposure Becomes Dampener

Analysts say Singapore banks may have over-lent to property sector.

Asian Money Rates Surge on Credit Concerns

Hong Kong and Tokyo three-month interbank rates rise to the highest levels in over nine months

Suddenly, Dubai Catches a Cold

Are the wheels coming off Dubai? Momentum in the spendthrift emirate certainly looks to be grinding to a halt. Last week, Dubai received a US$15 billion bailout from Abu Dhabi, its cash-rich big sister. At least that’s how the lending facility set up by the UAE central bank is being privately interpreted. It’s just one of a number of warning signs.

Will China’s Economy Sink with the US Crisis?

Anyone who believes China is set for smooth-sailing as the US sinks is likely to be as wrong as those arguing a year ago that the sub-prime-loan crisis was containable.

Many Chinese are recession virgins - they are far more used to booming than slowing growth. Equity investors are far more accustomed to double-digit gains than big drops in shares. It’s an open question how this year’s 58 per cent plunge in Chinese shares affects sentiment.

Americans Grapple with Libor

Libor, set every morning in London, is what banks pay to borrow money from each other. That in turn determines prices for financial contracts valued at US$393 trillion as of Dec 31, 2007, or US$60,000 for every person in the world, and helps set consumer interest rates on everything from home loans to credit cards.

China Lung Disease ‘to Kill 83m’

A US study has suggested that more than 80 million people in China will die in the next 25 years as a result of lung disease.

New York Had Milk Scandal Too

China today, beset with food and safety scandals, bears an uncanny resemblance to New York 150 years ago, says this author.

Will DJIA rebound from 10156?

Wall Street Gets Rescue, But What About Stocks?

Stocks may get a short-term boost from today’s approval of a $700 billion financial rescue package, but the longer-term outlook is far less certain.

US Official Announcement

Friday, 3 October 2008

Greenspan Says Markets to Recover as Investors Return

Former Federal Reserve Chairman Alan Greenspan said financial markets and the economy will recover “sooner rather than later” from the worst turmoil in seven decades.

China’s Bronze Medal

The Shenzhou 7 space vehicle has just successfully completed its earth orbiting mission while one of its three-taikonaut-crew has taken China’s first walk in the space.

Married? Stay ‘Sexually Confident’

Shannon Ethridge on the importance of physical connection in marriage

Singapore Recession Will Last Several Quarters: Citi Economists

Worst will likely be in H1 2009, they predict in new report

Five Issuers to Quit Competitive Warrant Market

At least five derivative issuers will withdraw from the Hong Kong warrant market amid the global financial crisis, according to an executive of Societe Generale, one of most active participants in the market.

Chill Pill for Developers

Interest costs are rising and they may be stuck with project backlogs

1.1m Americans have HIV

A NEW estimate of how many Americans have the Aids virus puts the number at about 1.1 million, the U.S. Centres for Disease Control and Prevention (CDC) said on Thursday.

Witch Hunt is Unfounded, Says Short Seller

Wall Street chiefs blame short sellers - those who sell borrowed stock and profit when prices decline - for driving shares down as the credit crunch unfolded

Watch Out For The Next Risk: A Hedge Fund Death Spiral

By banning short selling of financial stocks, securities regulators in Australia, Britain and the United States may have inadvertently added to the risk that the next down-leg of the financial crisis could involve a death spiral among hedge funds.

US Switching to International Accounting Standards


Spine Under Strain

What starts off as back pain could be a serious condition called slipped disc. Here’s a non-surgical solution.

Surveillance of Skype Messages Found in China

The system tracks text messages sent by customers of Tom-Skype, a joint venture between a Chinese wireless operator and eBay, the Web auctioneer that owns Skype, an online phone and text messaging service.

Young Chinese in Shenzhen Rethink US-Style Capitalism


Thursday, 2 October 2008

Nestle Criticises Taiwan’s Ban on ‘Safe’ Milk Products

Swiss food giant Nestle criticised on Thursday Taiwanese authorities’ demand for it to de-list milk products which the government itself had deemed safe for consumption.

Walk the Talk

View Video

NZ Milk Products Tainted

South Korea's food safety agency said on Thursday it has banned the import of milk products from New Zealand which were used in baby formula after discovering traces of the harmful chemical melamine.

Brand China Reels from Lost Trust

Work remains to be done to build a culture of responsible, accountable management

Bailout a ‘Disgrace,’ Congress ‘Pathetic’

The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer.

Don’t Count on a Santa Bailout

Rising risks from US will fan headwinds in stock markets, say analysts

Train Engineer Texted 22 Seconds before LA Crash

A commuter train engineer sent a cell phone text message 22 seconds before his commuter train crashed head-on into freight train in Southern California last month, killing 25 people, federal investigators said Wednesday.

Time to buy? No - Patience is a Virtue

Furthermore, it is debatable whether any US Treasury-led bailout would have any effect at all. Recall that on Monday, markets went into a tailspin many hours before the US Congress voted on the plan. So, even if a second plan is pushed through and even if this does push stocks up, it can only be a matter of time before reality sets in with regard to the US market and its fundamentals. And once this happens, investors might just cotton on to the fact that US stocks are grossly over-valued.

Write-Downs Could See Property Stocks Slip Further

Larger developers saw 31-50% stock price falls in 2001, says Credit Suisse

HIV Infection up Eightfold Among Gays in Southern China

HIV infections jumped eightfold over the past few years in parts of China among gay and bisexual men, according to new data from southern China.

Wednesday, 1 October 2008

Technical Analysis by Ajith

We were expecting the STI to head down to 2200 and for the DJIA to head down towards 9500-9600, regardless of whether the Paulson bailout plan went through. The overnight 778 point is NOT a crash. We still expect further downside to the DJIA towards the 9500-9600. We attach an earlier wave count on the DJIA, which explains the basis.

Market is an illusion now

The big volatility of the market recently is only an illusion. The prices are not showing the true picture because the short sellers have been eliminated from the equation.

We are not trading in a real free market system. We are not seeing what you see is what you get (WYSIWYG). Until the short sellers return then you will see the true bottom.

Be careful when they do return (as restrictions are lifted).

The 777 point drop may have been the largest one day point drop but it was only #17 for total percentage points at 9%. The largest drop ever was 22%.

Putin Blasts US for Crisis

‘Everything happening now in the economic and financial sphere began in the United States,’ Mr Putin told a government meeting.

某事在人 成事在天


Vista Inspirat

Transform your Windows XP to Vista's look and feel. Install the free software.


I highly recommend this historical epic TV series. Need to have a strong command of Chinese to fully appreciate the subtleties of their dialogue. I've included some briefs on 商鞅, which is what this show is about.

Drop me a note if you think it's as good as I suggested.
View show

Keppel T&T Dive May be due to Forced Selling

Key investor sold over 2.6m shares last Friday; RichLand shares also see massive drop

Not may be, it's margin calls on Agus and Santosh.

Beautiful Wallpapers

Time to Try a Little Graciousness

We’ve got it ‘maid’ - but is my generation so spoilt that we can’t afford better manners?

Electronic Evidence Tampering on the Rise

More IT-savvy users caught trying to eliminate evidence of wrongdoing.

I think using Guttman algorithm 35 passes should remove any traces that even forensic recovery software can't retrieve.

Tough Life for ‘Study Mamas’

‘The last thing we want is more rules, making it harder for us to find jobs,’ a study mama said. ‘We just want a simple life and a good education for our children.’

Tuesday, 30 September 2008

Singapore Property Hard Landing

House-hubby wants money, not kids

Wife hands hubby a $700,000 household allowance, which he uses to buy an extra-marital flat in Taiwan. What follows is a bitter divorce and revelations of a husband and father who did little for his family.

Steel Industry in China Crumples

THE head of China’s leading steel company says the Chinese economy and steel industry are both “heading for a downward slide”, as hopes fade that China can insulate Australia’s resource-dependent economy from the widening global downturn.
More in Market News...

American pressure on the Gulf-States to save Wall Street

Gulf diplomatic sources in New York, told Al-Akhbar that they are concerned about the U.S. pressures on the Gulf-countries to absorb the currency liquidity available in their banks.

The United States sent harsh messages to its Gulf allies demanding serious contribution in Bush’s financial rescue plan to prevent the complete collapse of financial markets.

Especially after Qatar Investment Authority rejected the investment of part of its assets in the U.S. market, Preferring to invest in Asian markets.

JB Jeyaretnam dies

Former opposition MP and former Secretary-General of the Workers' Party, Mr JB Jeyaretnam died early Tuesday morning due to heart failure at 82.

Mr Jeyaretnam, who had a pre-existing heart condition was rushed to Tan Tock Seng Hospital at about 1.30am but doctors were unable to revive him.

Mr Jeyaretnam was the first opposition member to win a Parliamentary seat in 15 years when he won the Anson By-Election in 1981. He left the Workers' Party in 2001, and in July this year, had launched a new party called the Reform Party.

Monday, 29 September 2008

Market News Access

I take time and effort to gather and put up information at my blog.

I like to share with people who appreciates my time energy spent.

I will continue to share with people who shares and/or communicate with me in any way.

Hence, I will remove access to Market News blog for those passive reader.

HSI Commentary

Leslie Cheung 追

I remember watching this movie with my Indonesian friend Wilson Chandra in 1990 at an old cinema on East Valley Street, Monterey Park, California.

Warren Buffett Invests In Chinese Company Developing ‘Green’ Cars

A subsidiary of Warren Buffett’s Berkshire Hathaway is making a $230 million investment in a Chinese battery company that’s developing environmentally-friendly cars to be sold around the world.

In Financial Food Chains, Little Guys Can’t Win

IMAGINE, if you will, that a man who had much to do with creating the present credit crisis now says he is the man to fix this giant problem, and that his work is so important that he will need a trillion dollars or so of your money. Then add that this man thinks he is so indispensable that he wants Congress to forbid any judicial or administrative questioning of anything he does with your dollars.

Maybe Short-Selling Isn’t So Bad, After All

FEDERAL regulators have banned short sales of more than 800 stocks, mostly of financial companies, in an effort to stabilize prices in a shaky market. But the move may have an unintended consequence: reducing the stock market’s efficiency and prolonging the current crisis.

Sunday, 28 September 2008

Wall Street, R.I.P.: The End of an Era, Even at Goldman

A world of big egos. A world where people love to roll the dice with borrowed money. A world of tightwire trading, propelled by computers.

That world is largely coming to an end.

Gone to Wall Street

China’s Tug-Of-War With Vale

China would rather not have Brazilian iron ore imports than have to pay extra after already negotiating a hefty price increase in February -- and the turbulence in the global economy may give it the upper hand.

China Aims for Military Might

China is rapidly developing a highly modern military that will be the equal of Western armies with the ability to operate anywhere in the world.

The Mayonnaise Jar and 2 Beers

When things in your life seem almost too much to handle, when 24 hours in a day are not enough, remember the Mayonnaise jar and the 2 Beers.

Credit Default Swaps the Next Crisis

Sub Prime is Just ‘Vorspeise’

Continued Outflows Bar US - Nomura

Figures for the latest week suggest that Asia ex-Japan, especially Taiwan, saw consistent net outflows via mutual funds and foreign investors. We note that only China-related funds attracted net buying, while India- and Korea-related funds saw further steady net selling.
More in Market News...

What $700B Won’t Buy: a Quick Fix for the Economy

It usually takes years to recover from a financial crisis severe enough for politicians to ride to the rescue with truckloads of taxpayer money.

Downturn Casts Gloom on Streets of HK

To gauge the mood on the street about the state of Hong Kong’s economy, the Sunday Morning Post skipped the bankers and speculators and talked to regular folk.

Dubai’s New $35,585 a Night Hotel

It’s the latest word in Persian Gulf excess: A US$1.5 billion ($2.13 billion) resort boasting a $25,000-a-night suite and dolphins flown in from the South Pacific - all atop an island built in the shape of a palm tree.

S.E.C. Concedes Oversight Flaws Fuelled Collapse

The chairman of the Securities and Exchange Commission, a long-time proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down.

China House Prices May Continue to Fall for 10 Years to Come

Prices of residential housing in China may shrink by as much as 50 percent in the next 10 years, a top property researcher has predicted.

When Journalists Lose Objectivity ...

As far as a coterie of western scribes were concerned, there was just nothing right or good about the 2008 Beijing Olympics.

Chinese Regulator Calls US Lending ‘Ridiculous’

U.S. lending standards before the global credit crisis were “ridiculous,” and the world can learn from China’s more cautious system as it considers financial reforms, the top Chinese bank regulator said Saturday.