Foreign selling last week slowed to RM87.9m, lowest in 11 weeks, MIDF says

(theedgemarkets.com May 04, 2020 09:14 am +08)


KUALA LUMPUR (May 4): Foreign selling of Malaysian equity decelerated to RM87.9 million last week, from a whopping RM1.13 billion the prior week, according to MIDF Research.

In his weekly fund flow report today, MIDF Research’s Adam M Rahim said this was the lowest in 11 weeks.

“For the month of April 2020, offshore investors took out RM2.67 billion net of local equities, more than half of what was sold in the preceding month.

“In comparison to its other six Asian peers that we monitor, Malaysia remains as the nation with the third smallest foreign net outflow on a year-to-date basis after Indonesia and the Philippines,” he said.

Adam said the year-to-date foreign outflow from Malaysia came to RM10.3 billion.

He said Bursa began the week on a gloomy note as foreign investors pulled out RM115.8 million net of local equities.

“This was despite the announcement of more stimulus measures by the Bank of Japan which includes the additional purchase of commercial papers and corporate bonds.

“Foreign net selling activity dipped on Tuesday to RM95.4 million as investors acknowledged progress in the global fight against the coronavirus but remained cautious amidst a painful earnings period,” he said.

Adam said Wednesday then saw a massive drop in foreign net outflow to RM800,000.

He said most Asia-Pacific stocks gained Wednesday on cautiously positive sentiment that steps by governments around the globe to ease lockdowns will not set off a new deadly round of the respiratory illness.

“Tables were turned on Thursday, the last trading day of April, as foreign investors scooped up RM124.5 million net of local equities.

“The local bourse followed suit to gain 2.0% higher, settling above 1,400 points As such, the 11-day selling streak on Bursa was snapped,” he said.

Adam said risk-on sentiment was sparked by the effectiveness of a drug by Gilead Sciences against the Covid-19 pandemic.

“In terms of participation, foreign investors saw a 9.4% weekly decline in its average daily traded value (ADTV), the largest amongst other investor groups.

“Nevertheless, the absolute ADTV of foreign investors remained healthy above the RM1 billion mark,” he said.


##https://www.theedgemarkets.com/article/foreign-selling-last-week-slowed-rm879m-lowest-11-weeks-midf-says

Surprisingly just touch 0.390 & fast recover back......

Really "Big Boy & Big Players" very closely monitoring......

Unable to catch the fall knight today...............

S&P500 still withstanding @ 50% retracement......

Last week already test 61.80% retracement but not strong enough...

Surprisingly today KLCI has dropped by 30++ point...

But overall market still withstand strong by own individual holding...

Not much drop share price............

Surprisingly today Muhibbah no selling pressure despite KLCI has dropped by 30++ pt....

Coming back again....

Crazy...strong buying interest during bear market...

Bstead really coming...

Retest 0.515 soon..........

Different people different perception different voice...... 

So long as you know what you invest with what mission you are setting...... 

Value investors always happiness no matter company share price invested up or down...... 

If share price up of course your portfolio return become higher... 

If share price down of course need deploy fund to repurchase what stocks on your portfolio... 

Of course current share price feel comfortable safer than previous... 

Too sad to say, my entry price @ 1.55....now put in long term portfolio for upcoming dividend passive income...... 


^^^Always deploy investment funds by diversification into different sectors......

Different people different perception different voice...... 

So long as you know what you invest with what mission you are setting...... 

Value investors always happiness no matter company share price invested up or down...... 

If share price up of course your portfolio return become higher... 

If share price down of course need deploy fund to repurchase what stocks on your portfolio... 

Of course current share price feel comfortable safer than previous... 

Too sad to say, my entry price @ 3.06....now put in long term portfolio for upcoming dividend passive income...... 


^^^Always deploy investment funds by diversification into different sectors......

Different people different perception different voice...... 

So long as you know what you invest with what mission you are setting...... 

Value investors always happiness no matter company you invested up or down...... 

If share price up of course your portfolio return become higher... 

If share price down of course need deploy fund to repurchase what stocks on your portfolio... 

Of course current share price feel comfortable safer than previous... 

Too sad to say, my entry price @ 9.95....now put in long term portfolio for upcoming dividend passive income...... 


^^^Always deploy investment funds by diversification into different sectors......

别人笑我太疯癫... 我"说"他人看不清......

我只看 S&P500 先...才看本地KLCI

kekeke....wkwkwkk......

We all know all industry unprecedented losses...except glove industry... 

All share still pushing higher & higher...... 

Unfortunately this year a bit strange & funny...... 

"Period" already came early...sell in March go away......

Buy in April laugh away....... 

Bet in May scream high away........


^^^Coming week if KLCI laggard for correction, I will put the bet (I always prefer moving opposite direction)

Warren Buffett Says Berkshire Is Reversing Course on Airlines—AgainBy 


May 3, 2020, 6:37 AM GMT+8Updated on May 3, 2020, 8:40 AM GMT+8


~ Berkshire exited stakes in Delta, United, American, Southwest

~ ‘The world changed for airlines,’ Buffett said at his meeting


Warren Buffett is reversing course on his airlines bet -- again.

The billionaire investor said Berkshire Hathaway Inc. completely exited its stakes in the four major U.S. airlines. The sales of shares of Delta Air Lines Inc., Southwest Airlines Co., American Airlines Group Inc. and United Airlines Holdings Inc. made up most of the company’s $6.5 billion in equity sales in April.

During his live-streamed annual meeting, Buffett said the business has fundamentally changed following the economic fallout from the coronavirus pandemic. He declined to blame the performance of the airline executives, saying they’ve done a good job of raising money to get through the crisis.

“The world changed for airlines and I wish them well,” Buffett said Saturday. He clarified that he made the decision and that he lost money on his investments. “That was my mistake.”

Buffett’s had a complicated relationship with the airline industry over the years. After a troublesome investment in USAir, Buffett joked that he would call an 800 number to declare he was an “air-o-holic” if he ever got the urge to invest in airlines again.

Then in 2016, Berkshire dove into the industry again, amassing stakes in the four largest U.S. airlines. At the end of 2019, those stakes amounted to almost $10 billion. Buffett’s renewed faith in the industry prompted speculation that he might one day own one of the carriers.

But now, he’s cut those investments again. Berkshire disclosed in April that it had at least trimmed its Delta and Southwest stakes, both of which had previously been above a 10% ownership level.

“The airline business -- and I may be wrong and I hope I’m wrong -- but I think it’s changed in a very major way,” Buffett said. “The future is much less clear to me.”

The disclosure was among the most significant at the annual meeting, which was notable for its different feel this year as the event that usually draws tens of thousands was hosted virtually. Buffett, 89, shared the stage with a top deputy, Greg Abel, who runs Berkshire’s non-insurance operating units. Vice Chairman Charlie Munger, 96, didn’t join, though Buffett said his longtime business partner was in good health.

Buffett said he didn’t know how consumer travel habits will change after the pandemic subsides, but any reduction in travel could leave airlines with higher-than-necessary fixed costs. Any impact could filter down to suppliers like Boeing Co.

“The real question is whether you need a lot of new planes or not,” he said.

Buffett said the efforts to slow the pandemic amounted to “quite an experiment,” and while the range of public health and economic outcomes has narrowed, they remain “enormous.”

“I don’t know the consequences” of shutting down large parts of the U.S. economy, Buffett said, though Berkshire’s operating earnings will be “considerably less” than if the virus hadn’t hit.

Buffett gave an extended history lesson to back up his assertion that “nothing basically can stop America.” He said he’s still bullish on the U.S. economy because it has overcome many obstacles over the past two centuries, though “we haven’t faced anything that quite resembles this.”


##https://www.bloomberg.com/news/articles/2020-05-02/buffett-says-berkshire-reversing-course-on-airlines-again?srnd=premium-asia

Seem like Genting group started doing precautions action & movement ready...

Let the institutions & foreign funds to assess good news or bad news......

We all small retailers only......

Seem like Genting group started doing precautions action & movement ready...

Let the institutions & foreign funds to assess good news or bad news......

We all small retailers only......

Foreign workers who recover from Covid-19 moved into SuperStar Gemini cruise ship


SINGAPORE - Foreign workers who have recovered from Covid-19 have started moving into the cruise ship SuperStar Gemini after it passed an assessment by various agencies.

The Singapore Tourism Board (STB) said in a Facebook post on Friday (May 1) that the first workers boarded the ship on Wednesday (April 29) from Marina Bay Cruise Centre.

There are en suite toilets, in-cabin dining and strict infection control and safe distancing measures aboard the ship, as well as Wi-Fi, in-cabin entertainment and scheduled outdoor time.

"Fresh air is piped into the ship, and no air will be re-circulated between cabins and common areas," STB added.

"These are part of the Government's efforts to transfer workers to alternative living areas to reduce the spread of the virus within their dormitories."

Another cruise ship, the SuperStar Aquarius, has also passed evaluation checks and is ready to receive more workers.

STB had said earlier in April that the Government was studying the feasibility of using these two mid-sized cruise ships as temporary accommodation for foreign workers who have recovered from Covid-19 and tested negative for the virus.

This is a way to further manage the coronavirus transmissions and to allow health measures to be implemented more effectively in existing dormitories by reducing the number of workers there, STB said.

The two cruise ships can complement other interim facilities such as Singapore Armed Forces military camps and vacant Housing Development Board blocks, it said.

Genting Cruise Lines, which runs both ships, said on Friday that it has implemented "stringent precautionary measures, including the highest standards of preventive hygiene, sanitisation and disinfection procedures to safeguard the well-being of all guests and crew".

"As such, there have been no reported cases of Covid-19 among guests or crew to date while on board or transmitted via any of (their) cruise ships," said Mr Michael Goh, president of Dream Cruises and head of international sales at Genting Cruise Lines.

The company added: "Together with the Singapore Government at the forefront, every effort will be made to uphold the health and welfare of Singapore's foreign workers while on board the ship, which include observing the highest standards of safe distancing and preventive measures at all times."


##https://www.straitstimes.com/singapore/foreign-workers-who-recovered-from-covid-19-moved-into-superstar-gemini-cruise-ship?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-05-01 17%3A05%3A01

Foreign workers who recover from Covid-19 moved into SuperStar Gemini cruise ship


SINGAPORE - Foreign workers who have recovered from Covid-19 have started moving into the cruise ship SuperStar Gemini after it passed an assessment by various agencies.

The Singapore Tourism Board (STB) said in a Facebook post on Friday (May 1) that the first workers boarded the ship on Wednesday (April 29) from Marina Bay Cruise Centre.

There are en suite toilets, in-cabin dining and strict infection control and safe distancing measures aboard the ship, as well as Wi-Fi, in-cabin entertainment and scheduled outdoor time.

"Fresh air is piped into the ship, and no air will be re-circulated between cabins and common areas," STB added.

"These are part of the Government's efforts to transfer workers to alternative living areas to reduce the spread of the virus within their dormitories."

Another cruise ship, the SuperStar Aquarius, has also passed evaluation checks and is ready to receive more workers.

STB had said earlier in April that the Government was studying the feasibility of using these two mid-sized cruise ships as temporary accommodation for foreign workers who have recovered from Covid-19 and tested negative for the virus.

This is a way to further manage the coronavirus transmissions and to allow health measures to be implemented more effectively in existing dormitories by reducing the number of workers there, STB said.

The two cruise ships can complement other interim facilities such as Singapore Armed Forces military camps and vacant Housing Development Board blocks, it said.

Genting Cruise Lines, which runs both ships, said on Friday that it has implemented "stringent precautionary measures, including the highest standards of preventive hygiene, sanitisation and disinfection procedures to safeguard the well-being of all guests and crew".

"As such, there have been no reported cases of Covid-19 among guests or crew to date while on board or transmitted via any of (their) cruise ships," said Mr Michael Goh, president of Dream Cruises and head of international sales at Genting Cruise Lines.

The company added: "Together with the Singapore Government at the forefront, every effort will be made to uphold the health and welfare of Singapore's foreign workers while on board the ship, which include observing the highest standards of safe distancing and preventive measures at all times."


##https://www.straitstimes.com/singapore/foreign-workers-who-recovered-from-covid-19-moved-into-superstar-gemini-cruise-ship?xtor=CS3-18&utm_source=STiPhone&utm_medium=share&utm_term=2020-05-01 17%3A05%3A01

So fast!!!...

No worry lahhh...... 

Follow this way roll over !!!... 

Got chance to earn more money $$$$$$...... 

Operators also practice the same way...... 


Buy que :- 

1.0 mil - 0.07 

1.5 mil - 0.065 

2.0 mil - 0.060 

2.5 mil - 0.055 

3.0 mil - 0.050 


Once done then sell batch by batch (1st in 1st out) 

Sell que :- 

1.0 mil - 0.080 

1.5 mil - 0.075 

2.0 mil - 0.070 

2.5 mil - 0.065 

3.0 mil - 0.060



Posted by kuaTAKtahu > May 1, 2020 11:49 AM | Report Abuse 

Next week Q to sell at 8.5 sen

Khaled Nordin appointed as Boustead Holdings chairman

(theedgemarkets.com April 30, 2020 18:22 pm +08)


KUALA LUMPUR (April 30): Former Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin has been appointed as the new non-independent and non-executive chairman of Boustead Holdings Bhd, nine months after the position was left vacant.

Khaled, whose appointment will be made effective tomorrow, succeeds General Tan Sri Panglima Mohd Ghazali Che Mat, who retired as Boustead chairman on July 31 last year.

Boustead managing director Datuk Sri Amrin Awaluddin welcomed Mohamed Khaled’s chairmanship in the group.

“We are confident that the group is in very good hands under his proven leadership,” he said in a statement.

“Datuk Seri Mohamed Khaled’s vast experience from leading Johor as well as his key positions in various Ministries, will certainly strengthen the board in guiding Boustead to improve the way we do business and increase our prospects over the long term,” Amrin said.

Mohamed Khaled, 61, holds a Bachelor of Laws (Hons) degree from University Malaya.

He started his career in the corporate sector in 1983 as a legal executive in Petronas before joining politics in 1990.

During his tenure as Johor Menteri Besar from 2013 to 2018, Mohamed Khaled also served as chairman of Johor Corp Bhd, its group of companies and several State-owned entities.

“Under his five-year leadership, Johor witnessed a steady growth in its economy, with the State’s GDP standing at RM100 billion,” said Boustead.

“The average GDP growth rate was recorded at 5.9%, which at that time surpassed Malaysia’s average GDP growth rate of 5.1%.

“During his tenure at Johor Corp, the group successfully implemented several restructuring and turnaround exercises,” it added.

Prior to that, he served as Minister of Higher Education from 2008 to 2013, and as Minister of Entrepreneur and Co-operatives Development from 2004 to 2008. From 1990 to 2004, Mohamed Khaled served the nation as Deputy Minister of Works.


##https://www.theedgemarkets.com/article/khaled-nordin-appointed-boustead-holdings-chairman

Super crazy day...KLCI just need 2 days to boost back above 1400 level...

Some more shy slightly behind 1420 level......

Nowadays market need new crazy bloods to pump in market...

If follow "old bloods"...market can't crazy & mad to move......

New bloods always more warriors...

Old bloods always more spectators......

Nowadays market need new crazy bloods to pump in market...

If follow "old bloods"...market can't crazy & mad to move......

New bloods always more warriors...

Old bloods always more spectators......

Too sad to said...market definitely crazy......

If not crazy...why come so many account created since last month...

Not only Malaysia, even though other countries also follow the suit...

US...Taiwan...China...

Lollll....Don't use "Logical & Normal" perception to examine market nowadays....

You know why !!!............

1st - Mr.Bull Syndicate is Mr.D.Trump

2nd - Unlimited printing machine from FED...ECB...IMF...

Too sad...I am very stubborn "orang tua"...kekeke..kekeke...

I trust myself more than others......

Only Student "C" can comprehensively understand......

So long as standing above 1400 level...

Next week rotation playing around different counters......

Heading to next battle level.....1443 level soon.............

Too sad...no plan to escape board now...

Super Crazy today...... KLCI up 38++ point now............

Very high today surpass 1420 .........

up until you can't believe it....

Is the right time hunting for stocks not yet move with potential recover after MCO...

Try look for below 25% recover from Mar'20 low......

Of course Construction sector is primary fast & start to recover...

Economy need this sector to boost back engine..........

Super Crazy today...... KLCI up 30++ point now............

Very high chance surpass 1420 next week..........

up until you can't believe it....

No worry lahhh......

Follow this way roll over !!!...

Got chance to earn more money $$$$$$......

Operators also practice the same way......


Buy que :-

1.0 mil - 0.07

1.5 mil - 0.065

2.0 mil - 0.060

2.5 mil - 0.055

3.0 mil - 0.050


Once done then sell batch by batch (1st in 1st out)

Sell que :-

1.0 mil - 0.080

1.5 mil - 0.075

2.0 mil - 0.070

2.5 mil - 0.065

3.0 mil - 0.060

Crazy strong today KLCI...already surpassed 1400 level...

up until you can't believe it....

公说公有理......婆说婆有理...... 儿女说就没道理......

Siapa dengar...siapa kalah......

This round short term bear market seem like drop a lot of investors eyes......

Unexpected so fast rebound back.......

Thanks to FED unlimited "Helicopter Aid" to save the world market......

Thanks to IMF...ECB...Japan Centre Bank ....+ China Government aggressive stimulus package with lower down interest rate......

I foresee today KLCI closing shall be slightly shy behind 1400......

Reserve further uptrend for next week......

No worry lahhh......

Follow this way roll over !!!...


Posted by Keyman188 > Apr 28, 2020 11:43 AM | Report Abuse X

For me, sure to que this way...

Buy que :-

1.0 mil - 0.07

1.5 mil - 0.065

2.0 mil - 0.060

2.5 mil - 0.055

3.0 mil - 0.050


Once done then sell batch by batch (1st in 1st out)

Sell que :-

1.0 mil - 0.080

1.5 mil - 0.075

2.0 mil - 0.070

2.5 mil - 0.065

3.0 mil - 0.060

Wahhh...give chance to buy 0.07 now...

Follow this way roll over !!!...


Posted by Keyman188 > Apr 28, 2020 11:43 AM | Report Abuse X

For me, sure to que this way...

Buy que :-

1.0 mil - 0.07

1.5 mil - 0.065

2.0 mil - 0.060

2.5 mil - 0.055

3.0 mil - 0.050


Once done then sell batch by batch (1st in 1st out)

Sell que :-

1.0 mil - 0.080

1.5 mil - 0.075

2.0 mil - 0.070

2.5 mil - 0.065

3.0 mil - 0.060

Unbelievable...KLCI up 18++ point now...very close to 1400 again......

After surpass 1400 again...whole market sure crazy rushing in again...

2nd round rebound engine already triggered................

Unbelievable...KLCI up 17++ point now...up until you can't believe it....

After surpass 1400 again...whole market sure crazy rushing in again...

2nd round rebound engine already triggered................

okok...don't talk so much 1st...start trading ready......

Hunting new targets now...don't left behind......

Time to focus other value stocks...

Must know how to segregate your portfolio...

Treat this counter under "Retirement & Savings Fund".....

Looking for "Emerging Growth Fund"......

Looking for "Small Balanced Fund"......

Time to accumulate more & more share......

Don't left behind this round rebound......

No matter value investors or traders...always must follow the market conditions & trends.......

Don't always stick to 1 pattern...kekeke...kekeke...

If not how to earn more pocket money lehhh....kekeke......

Hedge Funds Management always like to "Twist" & call Long or short the market lahhh...


%%% Remember always follow the market condition, if know like other people always left behind the market trends......


^^Always 80% FA 20% TA (I always deserve the right to reserve 1 more step)

@apple168...faster call up all group help you to pressure lahhh......

I also want to bet in lahhh.......

Seem like you not enough power to pressure......

Every time you spread bad new then the stock move opposite direction & up......

Aiyo......kuat sikit.......持续坚持......

DJIA & S&P500 already surpassed 61.8% retracement & strong rebounded back to bull market territory....

I think this round short bear market unprecedented tragedy had caused a lot of global investors "drop their eyes"......

Is Genting worth a gamble now?

(theedgemarkets.com April 29, 2020 22:03 pm +08)

KUALA LUMPUR (April 29): Genting Bhd, whose shares have been battered since the COVID-19 outbreak as casinos under the group were forced to suspend operations amid lockdowns across the globe, has garnered as many as 14 buy calls from 17 research houses covering the stock, according to Bloomberg data.

Among those who issued a 'buy' call on the stock is CGS-CIMB Research, which reiterated its recommendation to clients in a note sent out on Tuesday, with a target price of RM5.65 on the stock.

In particular, CGS-CIMB Research analyst Foong Choong Chen noted that Genting’s Resorts World Las Vegas (RWLV) is scheduled to open in summer 2021, with US$1.9 billion invested as at end-2019 and funding secured to complete the US$4.3 billion project.

"It has put in place an experienced top management (that have worked at other established Strip properties) and tied up with Hilton, bringing in three of its hotel brands and the ability to leverage the Hilton Honors database. The Las Vegas Convention Centre phase 2 expansion (end-2020), the new Drew Las Vegas resort (end-2022) and RWLV itself could drive more visitor traffic in the coming years to the North Strip where it is located," Foong wrote.

CGS-CIMB expects RMLV will take time to establish itself in a competitive market, so its preliminary estimates are for net losses - excluding pre-opening expenses - of US$41m (RM178m) in FY21 and US$51m (RM222m) in FY22, with net profits from FY24.

However, should RWLV open in a severe economic recession, profitability may be pushed back to FY26 and estimated net losses may be higher at US$61 million (RM264 million) in FY21 and US$140 million (RM611m) in FY22.

"If RWLV does poorly, we do not rule out Genting injecting more equity to make up for shortfalls. However, Genting is ultimately not liable for RWLV’s substantial debt as they are ring-fenced to the project," Foong added.

While CGS-CIMB's new TP for Genting is lower than its previous target price of RM7.30, it still represents a potential upside of over 43% from its closing price of RM3.95 on Monday. The TP revision was made following the research firm’s recent earnings revision in Genting Malaysia Bhd (GenM) and Genting Singapore Ltd. Accordingly, Foong slashed Genting's financial year ending Dec 31, 2020 (FY20)/(FY21)/(FY22) core earnings per share (EPS) by 52%/20%/15%.

“We prefer Genting over GenM as Genting offers greater upside even after applying a conservative valuation approach, except in a severe economic recession,” Fong wrote.

At market close today, the stock was up 10 sen or 2.54% at RM4.04, which gives it a market capitalisation of RM15.56 billion.

Out of 17 research houses covering Genting - which touched its lowest in about 16 years on March 19, at RM2.91 - only three has it on 'hold'. According to Bloomberg, the consensus target price is RM5.40, which indicates a potential upside of RM34% from its closing price today.

Year to date, Genting's share price has fallen 31.71%, while GenM has lost 28%.

When compared with some other casino operators in the region - which also experienced double-digit contractions in their share price - only NagaCorp Ltd performed slightly worse as it was down 32.43% since the beginning of this year. The rest saw declines of between 12.17% and 29.69%.

In terms of valuation, both Genting and GenM now appear cheaper than other casinos, with trailing 12 months price-to-earnings (TTM P/E) of 7.79 times and 9.27 times, respectively. Genting Singapore Ltd (GENS) has a TTM P/E of 13.4 times while other Macau-based casinos have between 9.87 times and 18.79 times.


##https://www.theedgemarkets.com/article/genting-worth-gamble-now

Dow surges more than 400 points as positive Gilead news lifts hope for coronavirus treatment

PUBLISHED TUE, APR 28 20206:05 PM EDTUPDATED 12 MIN AGO

Stocks jumped Wednesday on the back of positive data from a potential coronavirus treatment from Gilead Sciences while investors digested a sharp drop in U.S. economic activity. 

The Dow Jones Industrial Average traded more than 400 points higher at the open, or over 1.5%. The S&P 500 gained 1.9% while the Nasdaq Composite traded 2.1% higher. 

A study of Gilead’s remdesivir drug conducted by the National Institute of Allergy and Infectious Diseases met its primary endpoint, the drugmaker said, lifting expectations for a potential coronavirus treatment. Gilead also released the results of its own study, which showed improvement in patients taking remdesivir to treat the virus. Gilead shares jumped 5.4% after a brief halt in the premarket. 

“The idea of something that is just given to you in the hospital IV that makes it so that it eliminates the, let’s say, the odds of you dying is something that makes us feel like that maybe this is the Tamiflu for this dreaded disease,” said CNBC’s Jim Cramer. “I think a lot people are going to say open [the economy] up and that’s why the market’s flying.”

Sentiment was also lifted as Alphabet shares gained 9.1% after the tech giant reported a revenue growth decline that was less steep than forecast. The company’s YouTube ad revenues also beat expectations. 

Other mega-cap tech stocks such as Facebook climbed 4.1%. Amazon gained 0.7% while Apple advanced 2.3%.

The Gilead news along with the strong move higher from Alphabet offset news of steep drop in U.S. economic activity. U.S. GDP shrank by 4.8% in the first quarter for the country’s biggest contraction since the financial crisis. 

Fed announcement looms

All eyes will be on the Fed’s monetary policy decision at 2 p.m. ET Wednesday. Investors will look to the central bank’s statement and chairman Jerome Powell’s virtual press conference for clues about how long interest rates will stay near zero as the economy seeks to emerge from coronavirus crisis.

“The Fed will likely focus on its crisis policy implementation and signal readiness for future shocks,” said Lauren Goodwin, economist and portfolio strategist at New York Life Investments. “It’s also possible that the Fed clarifies its forward guidance, and affirm that interest rates will remain low until inflation expectations are firmly anchored in the 2.0% range.”

While no one is expecting any change to its benchmark interest rate, the Fed could potentially adjust the rate on bank reservesand announce asset purchases targeted toward driving down longer-term rates.

Stocks fell slightly on Tuesday as a slide in mega-cap tech shares put pressure on the broader market. The S&P 500 ended the day 0.5% lower, but the equity benchmark is still up more than 10% this month alone.

President Donald Trump said in a press conference Tuesday the U.S. will “very soon” run five million coronavirus tests per day. The number of most tests the country has run was 314,182 on April 22, according to the Covid Tracking Project. The lack of testing remains an obstacle for many states anxious to reopen for business.


##https://www.cnbc.com/2020/04/28/stock-market-futures-open-to-close-news.html

Customs foils bid to smuggle in nine million sticks of cigarettes

April 29, 2020 19:10 pm +08


PUTRAJAYA (April 29): The Royal Malaysian Customs Department thwarted an attempt to smuggle in nine million sticks of white cigarettes worth RM720,000, which carried taxes of RM5.7 million, at the North Port of Port Klang yesterday.

Its assistant director-general Datuk Zulkurnain Mohamed Yusuf said acting on a tip-off and surveillance, a team of enforcement officers from Central Zone Unit II (Selangor) went to the port at 12.30pm and checked a 40 sq ft container declared as containing floor mats and bath towels.

"From the inspection, an amount of white cigarettes were found hidden behind sacks of goods which were declared to deceive the Customs authorities,” he said in a statement here today.

Zulkurnain said the modus operandi of the importer or agent was to place the big gunny sacks containing floor mats in the front of the container to hide the boxes of white cigarettes at the back portion, in a bid to evade detection by the authorities.

Zulkurnain said the importer and shipping agent involved were being investigated for attempted smuggling under Customs Act 1967 and Excise Act 1976.


##https://www.theedgemarkets.com/article/customs-foils-bid-smuggle-nine-million-sticks-cigarettes

有意思，有意思 ......

高人苦中有话 .....