World stocks rally runs out of steam

 Publish date: Sat, 18 Mar 2017, 03:15 AM

NEW YORK: World stocks were little changed Friday as a global rally ran out of steam, leaving investors reluctant to place any firm bets ahead of the weekend.

Major US indices were flat or modestly lower, while London, Paris and Frankfurt stocks managed to hang on to very slender gains.

"The stock market seems to have entered a period of consolidation without any clear direction" with investors waiting for any new factors to determine where the markets will go next, be it up or down, said Briefing analyst Patrick O'Hare.

Analysts also pointed to unease over the risk of a trade war amid President Donald Trump's tough talk. Questions about trade hung over a White House meeting Friday between Trump and German Chancellor Angela Merkel and were expected to be at the forefront of a weekend G20 meeting of finance ministers and central bankers in Germany.

Europe's markets had bolted higher Thursday with London's FTSE striking a new record peak after the Federal Reserve painted a positive picture of the world's largest economy. Sentiment was buoyed also by the victory of the incumbent party in Dutch elections, but markets reversed course Friday.

Earlier, Asian equities had wobbled with investors concerned about a lack of detail on Trump's tax reforms and spending promises in his first budget.

Among individual stocks, Tullow Oil shares slumped 15.1 percent after the British oil explorer launched a $750 million (700-million-euro) deeply-discounted share sale to help slash debt.

Toshiba jumped 3.5 percent to 190.1 yen on reports Tokyo is mulling using state money to support the loss-hit company's plans to spin off its prized memory chip business. The government denied the reports.

US biotech firm Amgen slumped 7.0 percent after it released clinical data that showed its Repatha drug, in concert with other treatments, reduced the chance of a major cardiovascular event by 20 percent. Analysts said the finding was a bit underwhelming given lofty expectations for the drug.

New York - Dow: DOWN 0.1 percent at 20,914.62 (close)

New York - S&P 500: DOWN 0.1 percent at 2,378.25 (close)

New York - Nasdaq: FLAT at 5,901.00 (close)

London - FTSE 100: UP 0.1 percent at 7,424.96 (close)

Frankfurt - DAX 30: UP 0.1 percent at 12,095.24 (close)

Paris - CAC 40: UP 0.3 percent at 5,029.24 (close)

EURO STOXX 50: UP 0.3 percent at 3,448.41

Tokyo - Nikkei 225: DOWN 0.4 percent at 19,521.59 (close)

Hong Kong - Hang Seng: UP 0.1 percent at 24,309.93 (close)

Shanghai - Composite: DOWN 1.0 percent at 3,237.45 (close)

Euro/dollar: DOWN at $1.0735 from $1.0771

Pound/dollar: UP at $1.2392 from $1.2358

Dollar/yen: DOWN at 112.71 yen from 113.26 yen

Oil - West Texas Intermediate: UP 3 cents at $48.78 per barrel

Oil - Brent North Sea: UP 2 cents at $51.72 per barrel


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firehawk Due for rest ...
18/03/2017 11:11
calvintaneng The whole world stocks might take a rest but not KLSE


These are the answers,

1) KLSE now 1,745 points. But in Ringgit has crashed by 33% against US Dollar by 33% since year 2012. So in USD Term Bursa Index is only 1,169 points. This makes Malaysia a laggard with the greatest potential for upside.

2) Foreign Funds had sold off Rm30 Billions KLSE shares for the last 2 years. Only now they are coming back in trickles. Expect more Foreign inflows now.

3) More booster as Credit Suisse is now issuing buy call for Malaysia

4) Malaysia is now in Election GE14 Year. All the machinery of BN will be utilized to prop up KLSE in a feel good factor to garner votes. So expect better days ahead for KLSE

5) Malaysia is purported to have a growth rate of 4.5%. Plus dividend yield of around 4% to 5%. This is excellent in a world of zero or negative growth.

6) TRUMP's US1 Trillions (RM4.45 Trilllions) Massive Infrar Projects are reflationary - therefore great for all commodities exporting nation like Malaysia.

7) Malaysian rural areas are now buffered up with rising Rubber & CPO prices. Rubber has doubled in prices. So is FFB (Fresh Fruit Bunches) almost Rm700 a M/Tonne (last year only Rm400 plus) So more incomes mean more demand for goods. And Malaysia should do well. Crude oil also recovered from USD30 to USD50. Petronas good dividend this year will give impetus for Malaysia Govt Infrar spending.
Saudi Aramco USD7 Billions jv with Petronas in RAPID also free more cash flow.

8) Last friday's 5 Billion shares day is the sure indicator of both Foreign Funds & Sidelined Retailers Pouring Back into Bursa.

9) Many indicators of LIMIT UP COUNTERS WITH UMA FROM SC Points to More Fervent Trading Days Ahead for all the happy investors of Bursa.

10) Calvin is happy to see all 230 Entrees for Stock Pick Contest of i3 Forumers for Year 2017 now turning 100% positive!


18/03/2017 13:20
Tripaka Whatever it is bull up bear down all down or all up, practice prudence and try not to be caught with your pants down when market falls.. Notice that whenever many penny stocks go crazy, our minds are filled with enormous greed and lose sense. The bullish penny signs are there... Now it's just beginning phase.. How much more to go, it's everybody's guess..
18/03/2017 13:36
pussycats It all started by the KLSE prop up by Government to make feel good sentiment for this election year. Make hays while it's sunny day
19/03/2017 07:22


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