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KLCI Index Will Visit 1732 Level Soon & Next Challenge Level Shall Be 1796 Remarkable Level Soon

Posted by Keyman188 at Dec 12, 2020 8:48 PM | Report Abuse
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Posted by Keyman188 > Feb 15, 2021 2:25 PM | 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

4975 posts

Posted by Keyman188 > Feb 15, 2021 3:10 PM | 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.


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

4975 posts

Posted by Keyman188 > Feb 21, 2021 11:28 AM | 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-------------------------

4975 posts

Posted by Keyman188 > Feb 21, 2021 7:50 PM | 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

4975 posts

Posted by Keyman188 > Feb 22, 2021 2:12 PM | 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

4975 posts

Posted by Keyman188 > Feb 22, 2021 2:14 PM | 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

4975 posts

Posted by Keyman188 > Mar 8, 2021 8:16 AM | 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.”


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

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Posted by Keyman188 > Mar 8, 2021 8:24 AM | 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

4975 posts

Posted by Keyman188 > Mar 8, 2021 11:07 AM | Report Abuse

Strong buying interest & momentum today...

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

4975 posts

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

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

4975 posts

Posted by Keyman188 > Mar 9, 2021 8:46 AM | Report Abuse

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


~ 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

4975 posts

Posted by Keyman188 > Mar 10, 2021 10:15 AM | 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...

4975 posts

Posted by Keyman188 > Mar 10, 2021 8:28 PM | Report Abuse

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


~ 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

4975 posts

Posted by Keyman188 > Mar 10, 2021 8:28 PM | 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...

4975 posts

Posted by Keyman188 > Apr 6, 2021 8:53 PM | Report Abuse

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


~ 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

4975 posts

Posted by Keyman188 > Apr 6, 2021 8:55 PM | 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...

4975 posts

Posted by Keyman188 > Apr 7, 2021 10:27 PM | 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

4975 posts

Posted by Keyman188 > Apr 7, 2021 10:30 PM | Report Abuse

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

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