Market will gradually rebound back from current level low after consolidation

DJIA & S&P500 had stubbornly sustain above 50% retrenchment

Bursa & SC had agreed to further suspension of IDS until end of June 2020 in order to stabilize market volatility

HSBC’s pre-tax profit falls 48% year-over-year in the first quarter to $3.2 billion

(PUBLISHED MON, APR 27 202010:33 PM EDTUPDATED MOMENTS AGO)

~ Analysts at Morgan Stanley had projected the bank’s first-quarter profit before tax could fall by 35.7% year-over-year to $3.998 billion.

~ HSBC shares in London have fallen by 29.7% so far this year. Its Hong Kong-listed shares have dropped by around 35.1% in the same period.


HSBC, Europe’s largest bank, said on Tuesday that it’s pre-tax profit fell 48% year-over-year to $3.229 billion in the first quarter of 2020, while revenue dropped by 5% to $13.686 billion.

The London-headquartered bank derives the bulk of its earnings from Asia, particularly Greater China where the coronavirus hit first. The bank had warned in February that disruptions caused by the virus outbreak could reduce its revenue this year — but some investors said economic conditions have turned out to be worse than expected.

Dickie Wong, executive director at Kingston Securities, said before the earnings release that HSBC was expected to post “a dramatic drop” in earnings and revenue.

“The first-quarter earnings will drop as much as 50%,” he told CNBC’s


##https://www.cnbc.com/2020/04/28/hsbc-reports-first-quarter-2020-earnings-amid-coronavirus-pandemic.html

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

More selling pressure again.....kosong "candlestick patterns" again...

Count down for uplifting IDSS......Another 3 more days to come.....

Oil price plunges again by 25%.......

Geopolitical tension due to North Korea Premier Leader situation...

Report card season around the corner........

Unprecedented oil crisis impact for oil exporter like Malaysia......

Lolll....Kesian KLCI today......Kosong "candlestick patterns" again...

Geopolitical tension due to North Korea Premier Leader situation...

Uplifting IDSS at Bursa market soon......

Report card season around the corner......

Unprecedented oil crisis impact for oil exporter like Malaysia......

MCO 4th stage extended......40% of SME unprecedented huge impacted...

Aiya...nowadays a lot of people not prefer put in at FD liao...

All sailang at share market due to super high return.....

You see last month & this month.....easily earn 30% ~ 100%......

Even though newbies join on the board also can easily earn how many ten thousand & thousand liao.............

Can remember what going on for Heng Huat Resources Bhd & ATTA Global Group Bhd !!!........

SC seeks public, Interpol assistance to find Asia Media founder Wong

(theedgemarkets.com April 27, 2020 13:42 pm +08)

KUALA LUMPUR (April 27): The Securities Commission Malaysia (SC) is seeking information or assistance from the public to establish the whereabouts of Asia Media Group Bhd founder Datuk Wong Shee Kai, also known as Ricky Wong.

The SC said in a statement Wong is a wanted person and currently at large, in connection with offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).

Since April 3, the SC has sought Interpol’s assistance to find Wong, following the issuance of a warrant of arrest against Wong by the Kuala Lumpur Magistrate’s Court on Dec 27, 2019.

This comes as Wong had failed to appear before the SC’s investigating officer as required under Section 32(3)(a) of AMLATFPUAA.

“If found to be in breach of Section 32(3)(a) of AMLATFPUAA, Wong will, upon conviction, be liable to a fine not exceeding RM3 million or imprisonment for a term not exceeding five years, or both, under Section 32(8) of the same act,” the SC said.

Members of the public with any information on Wong are encouraged to notify the SC of his whereabouts by calling 012-3812497/012-9105362 or emailing the SC at aduan@seccom.com.my.

Information received from the public will be protected under the Whistleblower Protection Act 2010, which protects whistle-blowers by ensuring information received is confidential, and offers immunity from civil and criminal action as well as protection against detrimental action.

Asia Media fell into Practice Note 17 status after the loss of its major business, resulting in the company being unable to continue to operate its transit TV network and advertising business.

In an extraordinary general meeting on July 25, 2019, shareholders of Asia Media agreed to oust Wong from the company's directorship and relinquish his chief executive officer post.

Meanwhile, Wong still holds a 32.94% stake in Bright Packaging Industry Bhd through his private vehicle Wong SK Holdings Sdn Bhd.


##https://www.theedgemarkets.com/article/sc-seeks-public-interpol-assistance-find-asia-media-founder-wong-shee-kai

Foreign selling surged to RM1.13 billion last week; YTD outflow RM10.21b, says MIDF Research

(theedgemarkets.com April 27, 2020 09:40 am +08)

KUALA LUMPUR (April 27): Foreign selling of local equity on Bursa Malaysia surged to RM1.13 billion last week from RM638.6 million the prior week, according to MIDF Research.

In his weekly Fund Flow report today, MIDF Research’s Adam M Rahim said this figure was the highest in five weeks.

“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 (YTD) basis.

“The YTD foreign outflow from Malaysia came to RM10.21 billion,” he said.

Adam said Bursa started the week on a sombre note as foreign investors pulled out RM215.4 million net of local equities.

He said this was despite news that China slashed its benchmark lending rate for the second time this year to boost the nation’s economy.

“Foreign net selling activity intensified on Tuesday, reaching RM287.9 million, a level not seen in more than a month.

“Risk-off sentiment grew following the crash in U.S oil prices overnight,” he said.

Adam said this was in conformity with other Asian markets under MIDF Research’s coverage namely, South Korea, Taiwan, India and Thailand.

“Wednesday then saw a slight slowdown in foreign net outflow to a tune of RM186.6 million as interest in rubber glove manufacturer stocks helped outweighed the overall selling activity amongst off shore investors.

“Consequently the Bursa Malaysia Healthcare index added 31.8 points on the same day,” he said.

Adam said the momentum of foreign net selling was little changed at RM198.0 million on Thursday.

“The anticipation on U.S law makers moving closer to vote for the US$484 billion bill for small businesses and hospitals helped put a lid on foreign net outflows.

“Foreign net outflow then jumped to RM240.6 million on Friday amidst reports that Gilead Sciences Inc.’s potential antiviral drug for the Covid-19 had failed in its fi rst randomized clinical trial,” he said.

Adam said in terms of participation, foreign investors saw an 8.0% weekly increase in its average daily traded value (ADTV), the smallest amongst other investor groups. Nevertheless, the absolute ADTV of foreign investors remained healthy above the RM1 billion mark.


##https://www.theedgemarkets.com/article/foreign-selling-surged-rm113-billion-last-week-ytd-outflow-rm1021b-says-midf-research

KLCI struggling to push up but seem not successful....

This week is doubt & tough trading week....

Geopolitical tension due to North Korea Premier Leader situation...

Uplifting IDSS at Bursa market soon......

Report card season around the corner......

Unprecedented oil crisis impact for oil exporter like Malaysia......

History can't changed but history can repeat..........



Posted by Keyman188 > Apr 24, 2020 4:57 PM | Report Abuse X

Well prepare for next week range movement....

0.075 ~ 0.06 / 0.055 (worse case scenario depending on market condition)...............

Tik...Tok...Tik...Tok...Count down for uplifting IDSS......

Another 4 more days to come.....History can't changed but History can repeat................

Aiyo...I still can recall, you said "wouldn't diela" last month.... 

Why suddenly change your perception ready...... 

Some more keep pushing until 2.37 worrr last few days..... 

So how.... suddenly turn left.... then suddenly turn right !!!!!!..... 


Posted by limkokthye > Mar 25, 2020 11:48 PM | Report Abuse  

lkt wont diela, open so many years, earn every years, just 1 month closed nia, sap sap shui for him la

Aiyo...I still can recall, you said "wouldn't diela" last month....

Why suddenly change your perception ready......

Some more keep pushing until 4.25 worrr last few days.....

So how.... suddenly turn left.... then suddenly turn right !!!!!!.....


Posted by limkokthye > Mar 25, 2020 11:48 PM | Report Abuse 

lkt wont diela, open so many years, earn every years, just 1 month closed nia, sap sap shui for him la

REITs also 自生难保....

Some mall already given 6 months 30% ~ 50% discounts...

Foresee some retailers also going to cease operations...

For the past 8 years government had granted to build how many small & big mall???......

Can recall SS2 mall....

Can recall Phonex Plaza...

Can recall VivaHome......

How many mall still struggling!!! .....

More to come how to unpredictable sustain......

Don't naive lahhh....

So long didn't see break below 0.355....

"Big Boy + Big Players" still accumulating lahhh....

If break below 0.350....a lot of players chasing lorrr....

Aiyo....Keyman188 never say want to bet but people treat want to bet in...

Kesian...kesian....

Aiyo......normal lahhh.....sudah naik "sampan"....mestilah boleh sampai pangkal.....


".....If look at latest report card... 

Revenue already dropped by 13.60% (based on QoQ)... 

Profit before tax (PBT) already dropped by 58.29% (based on QoQ)... 

Net profit (NP) already dropped by 45.40% (based on QoQ)... 

But, very very strange, why PBT dropped tremendously by 58.29% against the revenue droppred by 13.60% !!!!!!.......... 

Any sifu can guide me what wrong for the financial calculation ???..."


Keyman188 looking for sifu....master....expert...guide me this scenario...

Keyman188 always like to learn...explore...research...

Keyman188 still newbie on the board mahhh....

Amboi....still using 2019 financial performance to assess forward PE....

Current unprecedented global health crisis already impact global business model & sustainable growth...

Very obvious, latest financial performance already indicated by...

Revenue already dropped by 13.60% (based on QoQ)...

Profit before tax (PBT) already dropped by 58.29% (based on QoQ)...

Haven't count in coming this few quarter performance...

Unbelievable, 50 years operation famous textiles & garments company also can close shop & cease operation, Esquel Group....

Some more, this company also dealing with variety famous products....


..."In its heyday, the Esquel Malaysia (Kelantan) Sdn Bhd boasted a global client list such as Ralph Lauren, Brooks Brothers, Land’s End, Tommy Hilfiger, Hugo Boss, Fred Perry, Marks and Spencer, Banana Republic and J. Crew.

In 2007, Esquel Group, which also produced branded cotton shirts for Burberry, Nike, Lacoste and Nautica, reinvested US$6 million in its Penang facility after an eight-year absence."......


##https://www.nst.com.my/business/2020/04/584913/esquel-group-cease-operations-malaysia-after-50-years

Unbelievable, 50 years operation famous textiles & garments company also can close shop & cease operation, Esquel Group....

Some more, this company also dealing with variety famous products....


..."In its heyday, the Esquel Malaysia (Kelantan) Sdn Bhd boasted a global client list such as Ralph Lauren, Brooks Brothers, Land’s End, Tommy Hilfiger, Hugo Boss, Fred Perry, Marks and Spencer, Banana Republic and J. Crew.

In 2007, Esquel Group, which also produced branded cotton shirts for Burberry, Nike, Lacoste and Nautica, reinvested US$6 million in its Penang facility after an eight-year absence."......


##https://www.nst.com.my/business/2020/04/584913/esquel-group-cease-operations-malaysia-after-50-years

Any sifu here can guide me, under small cap @ construction segment,
is if acceptable for high PE ???.....

29/02/20 - 45.89 times

30/11/19 - 59.08 times

31/08/19 - 70.55 times

31/05/19 - 46.69 times

28/02/19 - 31.28 times


** Haven't count in coming soon 31/05/20 financial performance, if based on current market uncertainty, very very high possibility can hit above 60 times if based on current share price !!!..........

If look at latest report card...

Revenue already dropped by 13.60% (based on QoQ)...

Profit before tax (PBT) already dropped by 58.29% (based on QoQ)...

Net profit (NP) already dropped by 45.40% (based on QoQ)...

But, very very strange, why PBT dropped tremendously by 58.29% against the revenue droppred by 13.60% !!!!!!..........

Any sifu can guide me what wrong for the financial calculation ???...

By Marina Emmanuel - April 16, 2020 @ 4:39pm

GEORGE TOWN: Over five decades after it established an investment presence in Malaysia, Hong Kong-based textile and garment manufacturer, Esquel Group is shuttering its operations here.

The company, which touts itself as the world’s largest woven shirt-maker, is expected to part ways with over 2,000 of its Malaysian staff in Penang and Kelantan.

The company has a global headcount exceeding 50,000 with manufacturing facilities in countries such as Vietnam and Sri Lanka.

The New Straits Times sighted a notice on the closure of Esquel Malaysia, which stated that both the factories here would close on June 12.

“Although we have been operating at a loss since 2015, together with your hard work, we have transformed Esquel Malaysia into a 100 per cent localised company with consistent growth in production scale at our Kelantan factory, making it the company with the largest female workforce in the state,” Esquel Malaysia Sdn Bhd general manager Edward Ho said in a letter to all Malaysian employees.

“However, the sudden outbreak of the Covid-19 pandemic has plunged the world into a standstill.

“While dominant Esquel Group Malaysia’s (EGM) output is shipped to the US market, all of our customers have temporarily closed their retail business since March.

“EGM, on one hand, cannot operate under a country-wide Movement Control Order. Our customers, on the other hand, have to put their current orders and future allocations to EGM on hold.

“With the pandemic situation worldwide keep worsening, we simply do not have enough upcoming orders to sustain EGM’s continued operations,” he added.

In its heyday, the Esquel Malaysia (Kelantan) Sdn Bhd boasted a global client list such as Ralph Lauren, Brooks Brothers, Land’s End, Tommy Hilfiger, Hugo Boss, Fred Perry, Marks and Spencer, Banana Republic and J. Crew.

In 2007, Esquel Group, which also produced branded cotton shirts for Burberry, Nike, Lacoste and Nautica, reinvested US$6 million in its Penang facility after an eight-year absence.

At the time, it was announced that the upgrading of the Bayan Lepas facility was to accommodate the bulk of the company’s manufacturing operations which would be transferred from China.

“While we continue observing the MCO (until April 28) in the meantime, both Penang and Kelantan factories will resume working from April 29 to June 12,” Ho said in his letter.

“During this special time, our top priority is the health of you, your family and your welfare.

“A compensation package has been approved by the management of the Esquel Group for your entitled benefits as well as salary payment up to your last day of service, or accordingly to your notice period, whichever is longer,” he added.


##https://www.nst.com.my/business/2020/04/584913/esquel-group-cease-operations-malaysia-after-50-years

Esquel Group to cease operations in Malaysia after 50 years

By Marina Emmanuel - April 16, 2020 @ 4:39pm

GEORGE TOWN: Over five decades after it established an investment presence in Malaysia, Hong Kong-based textile and garment manufacturer, Esquel Group is shuttering its operations here.

The company, which touts itself as the world’s largest woven shirt-maker, is expected to part ways with over 2,000 of its Malaysian staff in Penang and Kelantan.

The company has a global headcount exceeding 50,000 with manufacturing facilities in countries such as Vietnam and Sri Lanka.

The New Straits Times sighted a notice on the closure of Esquel Malaysia, which stated that both the factories here would close on June 12.

“Although we have been operating at a loss since 2015, together with your hard work, we have transformed Esquel Malaysia into a 100 per cent localised company with consistent growth in production scale at our Kelantan factory, making it the company with the largest female workforce in the state,” Esquel Malaysia Sdn Bhd general manager Edward Ho said in a letter to all Malaysian employees.

“However, the sudden outbreak of the Covid-19 pandemic has plunged the world into a standstill.

“While dominant Esquel Group Malaysia’s (EGM) output is shipped to the US market, all of our customers have temporarily closed their retail business since March.

“EGM, on one hand, cannot operate under a country-wide Movement Control Order. Our customers, on the other hand, have to put their current orders and future allocations to EGM on hold.

“With the pandemic situation worldwide keep worsening, we simply do not have enough upcoming orders to sustain EGM’s continued operations,” he added.

In its heyday, the Esquel Malaysia (Kelantan) Sdn Bhd boasted a global client list such as Ralph Lauren, Brooks Brothers, Land’s End, Tommy Hilfiger, Hugo Boss, Fred Perry, Marks and Spencer, Banana Republic and J. Crew.

In 2007, Esquel Group, which also produced branded cotton shirts for Burberry, Nike, Lacoste and Nautica, reinvested US$6 million in its Penang facility after an eight-year absence.

At the time, it was announced that the upgrading of the Bayan Lepas facility was to accommodate the bulk of the company’s manufacturing operations which would be transferred from China.

“While we continue observing the MCO (until April 28) in the meantime, both Penang and Kelantan factories will resume working from April 29 to June 12,” Ho said in his letter.

“During this special time, our top priority is the health of you, your family and your welfare.

“A compensation package has been approved by the management of the Esquel Group for your entitled benefits as well as salary payment up to your last day of service, or accordingly to your notice period, whichever is longer,” he added.


##https://www.nst.com.my/business/2020/04/584913/esquel-group-cease-operations-malaysia-after-50-years

Too sad to say, this article & recommendations are published on Jan'20 before Covid-19 outbreak....

Now a lot of biz models have to change for the future sustainable growth...

Most of the stocks recommendations unable justify for next couple of years, don't talk so long 10 years, even want to survive for next 2 / 3 years also doubt to predict......

This operator really really brilliant......

Since Jan'20 how to play around for 1st round.....

Then Mar'20 how to play 2nd round...................

Always is timing.....Let see next week then you know the answer....

Operator already aware IDSS going to uplift soon..............

Well prepare for next week range movement....

0.075 ~ 0.06 / 0.055 (worse case scenario depending on market condition)...............

Aiyo...So ugly closing for KLCI today....

Today already broke unfavourable indicator......

1000% confirm next week KLCI unavoidable heading to HOLLAND .......

Got RM 2.90 mehhh......

I thought I grabbed RM 2.91 is my lucky price ready ???.....




Posted by Lanesra > Apr 24, 2020 4:33 PM | Report Abuse

I entered at 2.9, already took profit lor at 3.9 earlier but manatau it went up to 4.1 this week. Crazy market. Sifu lanesra dare not hold this long long oh

公说公有理......婆说婆有理...... 儿女说就没道理......

Where is 2.50 target price !!!!!!............

I still can recall, one of the sohai keep on scolding people sohai said don't buy 1st, need to wait 2.50 then buy....

That sohai keep on scolding people sohai if buy above 3.50 (during that time lahh)............

So how.....tak nampak 2.50 ???............

Keep on pushing until 4.25 worrr.............

So siapa sohai now....!!!!........................kekeke...kekeke....


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

MCO extension to result in GDP shrinking by 6% — HLIB Research

(theedgemarkets.com April 24, 2020 10:31 am +08)

KUALA LUMPUR (April 24): Hong Leong Investment Bank (HLIB) is forecasting an even greater contraction in Malaysia’s gross domestic product (GDP) of 6%, from a 4% contraction previously forecast, following the government’s announcement that the Movement Control Order (MCO) will be continued for another two weeks.

In a note today, the research house said that this higher contraction in GDP is premised on the assumption that the economy is operating at a capacity of 50% of GDP — with only 45% of the economy vis-à-vis GDP operating in the second phase of the MCO.

“As the economy is now under MCO for a total of eight weeks (slightly below two months), concerns are rife on the impact to the economy and employment. While the latest Ministry of Finance [MoF] report on the utilisation of the wage subsidy bill (RM13.8 billion) showed that RM1.2 billion of funds have already been approved for almost 1 million workers, this is subjected to conditions and is only for three months,” said the research house.

HLIB Research noted that it continues to see further downside risks to its GDP forecast from the possibility of the MCO being extended further, and the likelihood of a sluggish recovery post-MCO due to social distancing measures and a weak global economic environment.

At the same time, it is also expecting Bank Negara Malaysia (BNM) to conduct a 50 basis point (50bps) cut in the overnight policy rate (OPR), a move that could come as early as the upcoming May 5 Monetary Policy Committee (MPC) meeting.

As far as the FBM KLCI is concerned, the reprieve over the past one month will be short-lived, as past bear markets have all seen a “dead cat bounce” ranging from 10% to 13%.

The research house continues to forecast a W-shaped recovery trajectory for the market and its bottom estimates for the KLCI ranges from 1,029 points to 1,236 points — adding that it would only turn buyers closer to those levels.

“Possible triggers to those levels include (i) another MCO extension beyond Phase 4, (ii) May reporting season with weaker-than-expected corporate results and 1Q20 GDP (versus BNM’s 2020 range of -2.0% to +0.5%), (iii) continued decline in oil prices, and (iv) a perhaps overlooked risk of the US-China trade war re-escalation, noting the barrage of less-than-cordial statements by President [Donald] Trump on China,” it noted.

It is still maintaining its FBM KLCI forecast of 1,350 points for 2020.

Earnings of KLCI component stocks are expected to contract by 3.9% this year but are to rebound by 7.7% in 2021.

HLIB Research said its forecasts mostly imputed a six-week MCO impact, and yesterday’s extension certainly presents a further downside to its estimates.

Most sectors will be facing negative headwinds, for example, the aviation industry faces travel bans and the consumer sector will see weak demand for discretionary spending.

That said, HLIB Research viewed the MCO’s extension as necessary to combat the disease.

“Collectively, the four MCO phases would total 55 days or slightly below two months. We maintain our view that Malaysia’s Covid-19 situation will possibly subside to containable levels sometime in May (1st -2nd week), which coincides with the end of MCO Phase 4,” it viewed.


##https://www.theedgemarkets.com/article/mco-extension-result-gdp-shrinking-6-%E2%80%94-hlib-research

公说公有理......婆说婆有理...... 儿女说就没道理......

Within expectation after announcement of MCO extension......

DJIA future now drop 200++ pt after virus drug trial unsuccessful....



Posted by Keyman188 > Apr 23, 2020 8:35 PM | Report Abuse X

MCO extended again until 12/05/20 (2 more weeks)...

So KLCI sure 100% pressure again....

An unemployment rate of 23%? The real jobless picture is coming together

(PUBLISHED THU, APR 23 20203:31 PM EDTUPDATED MOMENTS AGO)

~ Jobless claims over the past five weeks have totaled more than 26 million, far worse than anything the U.S. has seen.

~ One measure, comparing those getting benefits to the total labor force, shows an 11% “insured employment rate.” That, in turn, points to a 23% overall jobless rate, according to one economist.

~ Expectations for the April unemployment rate are in the 10% to 15% range.


As the economic shutdown associated with coronavirus prevention measures nears the completion of its first full calendar month, a clearer picture is emerging of just how hard the hit has been to U.S. workers.

An economy that had been near full employment just two months ago is now in its most dire straits since the Great Depression. New filings for weekly jobless claims, reported Thursday, added to the gloom with another 4.4 million applying for unemployment insurance.

That brought the five-week total to more than 26 million. While bad enough on its own, it helped to complete a picture that likely will show the U.S. with its highest unemployment rate in about 87 years.

How high that number will get is still unclear when the Labor Department reports the April nonfarm payrolls data in two weeks.

However, the current numbers look bad. The amount of people getting benefits compared with the total size of the labor force, a measure the government calls the “insured unemployment rate,” is at 11%, the Labor Department said.

Rolling in the rest of the jobless pushes the headline unemployment rate that the Bureau of Labor Statistics reports to a “barely believable” 23%, said Paul Ashworth, chief U.S. economist at Capital Economics.

Over the worst

Most economists, though, think the actual reading likely will be closer to 10% to 15% due to the vagaries of how the BLS computes the rate. Ashworth himself sees the level at the high end of that range, though he said it may not be quite as bad as it looks on the surface.

“A surge in the unemployment rate to more than 15% would invite comparisons with the Great Depression, but we think those are misplaced because many of the unemployed will return to paid employment when the lockdowns are lifted,” Ashworth said in a note. “Nearly all of the increase in unemployment in March was due to temporary layoffs rather than permanent job losses.”

Ashworth expects the unemployment rate to come down quickly once the economy restarts — perhaps falling to 10% by summer and below 7% by the end of the year.

Federal Reserve economists released a study a week ago that has grabbed some attention on Wall Street. The central bank, studying weekly payroll data from processing firm ADP, indeed found that of the 18 million or so jobs lost in the first weeks of the lockdown were largely temporary layoffs.

Those separations, though, were more than double the 8.8 million jobs during the entire Great Recession, the Fed found.

That total is important as it will provide a fuller picture of the jobs situation than was apparent from the March report earlier this month. That count showed a decline of 701,000 but did not represent the full damage because the sampling happened before the worst of the job losses. The Fed estimated that 13 million more jobs were lost in the last two weeks of the month, after the period the BLS used for its estimate.

Rolling together all the data since the sample week for the March jobs report shows about 25 million people newly unemployed, which would indicate a jobless rate of about 20%, said Citigroup economist Veronica Clark. However, she also thinks the actual number will be lower in part because a number of those filing for benefits while waiting to go back to work will not be counted in the unemployment rate.

At the same time, she said the worst of the unemployment news may be behind us.

“While still at a very elevated level, it is a positive sign that initial filings for unemployment benefits appear to have passed their peak following the initial wave of job losses in late-March/early-April,” Clark wrote. “We expect initial claims to continue to decline over the coming weeks, reflecting resolutions of capacity issues at state offices, as people who were not previously able to file a claim given the volume are now able to get through.”


##https://www.cnbc.com/2020/04/23/an-unemployment-rate-of-23percent-the-real-jobless-picture-is-coming-together.html

Gilead Tumbles After Latest Data Leak on Virus Drug Trials

(April 24, 2020, 1:15 AM GMT+8 Updated on April 24, 2020, 4:36 AM GMT+8)

~Drugmaker and doctor involved dispute that trial was a failure

~ S&P 500 briefly gives up gains after report on China trial

Gilead Sciences Inc. shares were whipsawed for the second time in a week after a summary of a Chinese trial of its Covid-19 drug appeared to show that it was a failure.

The synopsis, which the company and a scientist working on the trial said didn’t fairly represent the actual results, saw Gilead’s shares closed down 4.3% to $77.78 on Thursday in New York. The broader market fell as well, with the S&P 500 ending down 0.05%.

The summary was quickly removed, but details of the post were reported by the Financial Times and posted by the publication Stat. They showed that the drug wasn’t associated with patients getting better more quickly; and 13.9% of patients getting the drug died, versus 12.8% getting standard care.

Gilead’s stock has been sent swinging by incremental reports on the drug, as investors grasp for any sign of data that the company’s compound could be an effective therapy for Covid-19 patients. The shares surged 9.7% on April 17 after a report that the drug appeared to have helped a group of Chicago patients who were part of a separate trial.

Gilead Response

The drug company and a scientist involved in the trial disputed the characterizations of the result as an outright failure, however.

“That is not correct,” said Frederick Hayden, an infectious disease expert at the University of Virginia School of Medicine, when asked whether the results showed remdesivir had flopped. Hayden helped the Chinese doctors conduct the study. “My interpretation of them is not consistent with that headline.”

Gilead, in a statement, said that the summary mischaracterizes the results of the study, which was stopped early after not enough patients could be found. A study with low enrollment can lead to results that are less conclusive. Hayden said there was a mistake in the original manuscript and that it had since been revised.

He said that the study was under review at a journal, which he would not identify. He declined further comment until the study was published.

Gilead, in its statement, said that “trends in the data suggest a potential benefit for remdesivir, particularly among patients treated early.” The company said that the full data are being submitted for review and publication. In a follow-up statement, the company said the data “add to a growing but still inconclusive body of evidence for remdesivir.” It expects full results from two other, larger studies at the end of May.

Cont...

##https://www.bloomberg.com/news/articles/2020-04-23/gilead-plunges-after-report-that-chinese-trial-was-unsuccessful?srnd=premium-asia

MCO extended again until 12/05/20 (2 more weeks)...

So KLCI sure 100% pressure again....

Rebound in oil is just a ‘breather’ and crude prices will likely turn negative again, analysts say (PUBLISHED THU, APR 23 20203:19 AM EDT)


~ “I’m not even calling this a rebound. I think oil prices are taking a breather,” Vandana Hari, founder of Vanda Insights, told CNBC.

~ Overnight, the June contract for WTI surged 19% as U.S. President Donald Trump ordered Iranian boats to be shot down if they “harass” American ships.

~ In the near term, unless production is cut, very limited capacity to store oil is likely to continue pressuring prices, analysts say.


Oil prices recovered from earlier losses overnight, but it might not be a rebound and could simply be markets taking a “breather,” analysts said, warning that crude prices could turn negative again.

That’s because the underlying issues with weak demand and storage running out have not been resolved, and will continue to put pressure on energy prices.

U.S. oil prices as well as international benchmark Brent crude have see-sawed this week. The May contract for U.S. benchmark West Texas Intermediate dived deep into negative territory earlier this week, for the first time in its history, and traded at negative $37.63 per barrel. That meant producers had to pay traders to take the oil off their hands.

While the Brent tumbled overnight to its lowest since 1999, at $15.98, it did not enter into negative territory.

Overnight, however, the June contract for WTI surged 19% to settle at $13.78 per barrel. Analysts attributed that to tensions in the Persian Gulf as U.S. President Donald Trump threatened to “shoot down and destroy” Iranian gunboats if they “harass” American ships.

“I’m not even calling this a rebound. I think oil prices are taking a breather,” Vandana Hari, founder of Vanda Insights, which provides analysis on global energy markets. WTI last traded at $15.66 per barrel on Thursday afternoon, a far cry from levels around $60 at the beginning of this year.

“As it happened, it’s not really managed to prop prices up too much,” she told CNBC on Thursday, referring to the U.S.-Iran tensions. “I think the geopolitical tensions element ... at this point to the markets is extremely small.”

Cont....

##https://www.cnbc.com/2020/04/23/rebound-in-oil-is-temporary-prices-will-turn-negative-again-analysts.html

So tomorrow " Duduk diam diam di rumah" tengok macam nak digest movement.........

Aiyo...memang takut lahh....

Small potato...pandai cakap saja mahhh...tak pandai buat lorrr....

kekeke.....kekeke...........

Yaa...I am newbie in stock market...

Nothing to do mahh during MCO.........

Kerajaan tak bagi chance go out makan steamboat....

So just talk 3 talk 4 lorrr.........if not what to do...........

Ada cara yang baik without lock up & denda !!!!........

If got please advice so I can go out makan makan..........


Posted by karimboss > Apr 23, 2020 3:57 PM | Report Abuse

i see yr all comment already know newbie...

Aiyo...after bought then keep it lorrr....

Value investor opt right stock never loss.....

Only gamblers worry everyday what will happen...

Even though (IF) tomorrow resume trading sure not much drop lahhh (I guess only lahhhh....I am not the GOD).....

If drop then buy again lorr....

Aiya....tomorrow this counter drop I "Teman" you...

I sure go in bet.....no worry no worry......

Here got a lot of warriors.....supporters..........

Aiyo....Suddenly global market turning to negative territory.....

Today KLCI really dancing around........up 13++ point...then down back -3++ point ..... & up 10++ point.... then down again......now NEGATIVE....


Wah.....siapa beli future FMBKLCI contract sure untung a lot today....


up down...up down...Fantastics................

Still early to give comment mahhh......

Value investor -vs- gamblers...........

Did you do your own research, explore & study !!!......

I saw a lot of members here earn kaw kaw worrr..............




Posted by newbie9999 > Apr 23, 2020 3:33 PM | Report Abuse

kena burn by serba dinamik dy.. duwan buy shares liao

Tik tok...Tik tok......Count Down May'20 perfect storm coming......

Uplift IDSS...Parliament reopen...Ugly report card for individual company & economy data...........

More vulnerable & incredible oil price will repeat plunge again....

Lolllll........I want to big laugh.........

Now more worse....anytime turn to negative.........

Definitely "Kosong" candlestick patterns........

Definitely catching a lot of retailers...............

Lolllll........I want to big laugh.........

Definitely "Kosong" candlestick patterns........

Definitely catching a lot of retailers...............

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

I still holding it @ 3.06 until now..................

Simpan dalam peti sejuk......until RM 9 baru take out makan.........

A financial crisis is underway, as demand collapse ripples through companies across the world

22 Apr 2020 06:04AM (Updated: 22 Apr 2020 06:10AM)

There is good reason to worry that the world economy is heading into a deep, protracted recession

ITHACA, New York: The world economy is on the precipice of its worst crisis since World War II.

As the newly updated Brookings-FT TIGER (Tracking Indexes for the Global Economic Recovery) makes clear, economic activity, financial markets, and private-sector confidence are all cratering. And if international cooperation remains at its current level, a far more severe collapse is yet to come.

To be sure, the current extraordinarily sharp downturn could prove to be relatively brief, with economic activity snapping back to previous levels once the COVID-19 contagion curve is flattened.

But there is good reason to worry that the world economy is heading into a deep, protracted recession. Much will depend on the pandemic’s trajectory and whether policymakers’ responses are sufficient to contain the damage while rebuilding consumer and business confidence.

Yet a rapid recovery seems highly unlikely. Demand has been ravaged, there have been extensive disruptions to manufacturing supply chains, and a financial crisis is already underway.

Unlike the crash from 2008 to 2009, which was triggered by liquidity shortages in financial markets, the COVID-19 crisis involves fundamental solvency issues for firms and industries well beyond the financial sector.

Moreover, the current shock is simultaneous and universal. During and immediately following the 2008 crisis, some emerging markets, not least China and India, continued to register strong growth, pulling the rest of the world economy along.

NO ECONOMY IMMUNE

But this time, no economy is immune, and no country will be able to lead an export-driven recovery. Today’s collapse has increased deflationary and financial risks in the advanced economies, and struck a significant blow to commodity exporters.

On top of it all, oil prices are plunging even more than they otherwise would, because Saudi Arabia and Russia are flooding the market.

The US economy has come to a virtual standstill, with most of the services sector shut down, industrial activity disrupted, and a red-hot labour market giving way to a tidal wave of unemployment in the space of just a few weeks.

The US has responded with extraordinary fiscal and monetary stimulus measures, which will help mitigate the immediate fallout from the crisis. But further targeted stimulus will be needed to alleviate the longer-term damage, and especially to protect economically vulnerable households and small businesses.

As for Europe and Japan, which were experiencing economic stress even before the pandemic, both are likely to suffer substantial declines in output and increases in unemployment.

Robust social safety nets (relative to the United States) will mitigate the impact of the crisis on the most economically vulnerable, but the path to recovery will be long and difficult.

For its part, China’s economy seems to be partly kicking back into gear, despite the government’s restrained monetary and fiscal policy responses to date. Industrial output, retail sales, and fixed-asset investment contracted sharply in January and February, but the contraction seems to have bottomed out.

In some respects, China’s command economy is better positioned than market economies to withstand such massive shocks, because the state can marshal national resources beyond the limits of conventional macroeconomic tools and provide direct support to enterprises and banks.

But China’s economy is not out of the woods yet. With unemployment rising, domestic and external demand are likely to remain weak, and a second wave of infections will pose a persistent threat.

EMERGING ECONOMIES

Other emerging economies are heading into a particularly bleak period. Many have decrepit health-care systems, congested urban population centers, and high levels of poverty, leaving little room for manoeuver between controlling the pandemic and averting economic disaster.

Making matters worse, some of these countries must cope with capital-flow reversals, depreciating currencies, and plummeting export demand. Others face formidable debt loads that are becoming only more difficult to finance.

India’s government, which was already grappling with a sharp growth slowdown, has put the country on lockdown, but will continue to face a dual health and economic crisis.

The Brazilian government’s denial of the pandemic may sustain economic activity in the short run, but the country’s financial markets and currency have already tumbled, reflecting the likelihood of an eventual lockdown.


##https://www.channelnewsasia.com/news/commentary/coronavirus-covid-19-global-recession-monetary-fiscal-policy-us-12652954

S&P 500 faces more weakness as pressure builds, chart analyst warns

PUBLISHED WED, APR 22 20207:17 AM EDT

The S&P 500 could see more pain.

So says Mark Newton, president and founder of Newton Advisors, after examining the S&P’s technical charts. The major averages ended trading lower Tuesday as crude prices continued their unprecedented plunge and uncertainty prevailed in the broad market.

With the S&P ending the day down more than 3% at 2,736.56, it already broke below last week’s lows and erased “the entire uptrend from late March,” Newton told CNBC’s “Trading Nation” on Tuesday.

“It does appear like this rally that started on March 23 is really starting to lose steam,” Newton said. “My thinking is, over the next few days, we can start to pull back. I’m not certain that we have to necessarily retest the lows right away, but a lot of this does have to do with Treasury yields breaking down, very similar to what happened in mid-February and also in mid-January, which coincided with stocks also starting to turn lower.”

The “violent moves” in crude oil have also dinged the index, Newton said — and that’s not all he sees adding to the weakness.

“You want to keep a close eye on financials,” he said. “Last week did see a real drop-off in breadth. The momentum, a lot of that was financials-related as yields were pulling back. So, it’s going to be important to see some stabilization.”

Newton added that investors should also keep an eye on technology, which ended Tuesday as the S&P’s lowest-performing sector.

“If you have tech and financials both falling, that’s almost 40% of the market right there,” he said. “Near term, the real key area is going to be 2,637, which was the first high off that rebound in late March. If we can hold there, then, arguably, potentially, we can stabilize in the next three to five trading days. My thinking is sentiment has already been very very subdued, if anything, that a turn-down is going to cause sentiment to get bearish that much more quickly. So, it might actually be a chance to really look at buying dips in the near future. But today, specifically, is a negative and I do expect a bit more weakness based on what’s happening today.”

S&P 500 futures were at $2,764 on Wednesday, up 1% and U.S. crude futures were up 8%.   

Quint Tatro, president and founder of Joule Financial, warned in the same interview that investors should be careful when looking for places to hide out.

“It’s very, very concerning when investors look to go hiding in other investments because I think, ultimately, we’re in a bear market, and this is going to take all sectors and indices lower,” Tatro said. “The difficulty we’re having here is from a fundamental perspective. The market is still not cheap. It’s not of value. In fact, depending on how you calculate what earnings are going to do this year, the market’s more expensive than it was to begin 2020, which was a much higher price.”

That doesn’t bode particularly well for stocks with earnings and fundamentals still coming in weak, Tatro said.

“We are factoring in anywhere from a 15 to 20% drop in overall earnings per share for the year, which, if you look at a multiple of 20, puts us back at 2,231” on the S&P, he said. “If you take a historic multiple of 15, that takes us down to 1,673 on the S&P. So, I think we’ve got a long way to go.”


##https://www.cnbc.com/2020/04/22/sp-500-faces-more-weakness-as-pressure-builds-chart-analyst-warns.html