US home construction collapsed 22.3% in March

PUBLISHED THU, APR 16 20208:35 AM EDTUPDATED MOMENTS AGO

~ U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago.

~Ground breakings occurred last month at a seasonally adjusted annual rate of 1.2 million units, down from a 1.56 million pace in February, the Commerce Department said.


U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from a month ago.

The Commerce Department said Thursday that ground breakings occurred last month at a seasonally adjusted annual rate of 1.2 million units, down from a 1.56 million pace in February. Construction of single-family houses fell 17.5%, while apartment and condo starts were off 32.1% from a month ago.

All of this paints a bleak outlook for housing as the lockdown to contain COVID-19 have led more than 20 million Americans to lose their jobs in the past four weeks.

The report showed a 6.1% decline in the completion of homes being constructed, which means many homes are being left half built. There was also a 6.8% drop in permits to begin construction.


##https://www.cnbc.com/2020/04/16/us-housing-starts-march-2020.html

Well prepare for Global Credit Rating Agencies to re-assess Malaysia outlook since oil price tragedy standing around $30 pbl....

So income from oil expected to erase about RM 31 billion & some more government need more stimulus package to curb the current unprecedented health crisis

Last week, Fitch had given negative outlook for Malaysia


##https://www.fitchratings.com/research/sovereigns/fitch-revises-malaysia-outlook-to-negative-affirms-at-a-09-04-2020


Fitch Revises Malaysia's Outlook to Negative; Affirms at 'A-'

Thu 09 Apr, 2020 - 7:14 AM ET

Fitch Ratings - Hong Kong - 09 Apr 2020: Fitch Ratings has revised its Outlook on Malaysia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and has affirmed the rating at 'A-'.

IDEAS: Malaysia may lose RM31 bil per year if oil prices remain at US$30 per barrel

(theedgemarkets.com / April 16, 2020 19:16 pm +08)

KUALA LUMPUR (April 16): The Institute for Democracy and Economic Affairs (IDEAS) said that Malaysia may lose RM30.9 billion in fiscal revenues per annum if oil prices remain low, which would further strain the nation’s finances.

It said this issue was discussed in a webinar organised by the Centre of Market Education (CME) and supported by IDEAS titled ‘Oil Economics in Times of Crisis and Energy Transition’ today, by CME board member Professor Renato Lima de Oliveira, who is also IDEAS senior fellow and assistant professor at the Asia Business School.

The event was moderated by CME director and IDEAS senior fellow Dr Carmelo Ferlito.

According to Prof Renato, a field-by-field study showed that if crude oil prices stay around the US$30 per barrel mark from today till 2030, the world can expect a decrease of US$170 billion in capital investments in new production capacity and US$616 billion in government revenues on average, per year, compared with a scenario of prices at US$60 per barrel.

Malaysia is also expected to lose per annum US$1.7 billion in new capital investment as well as US$7.1 billion (RM30.9 billion) in fiscal revenue from the oil and gas (O&G) segment, which would put further pressure on the country’s finances.

The professor said the oil sector is affected by a decline in demand due to the COVID-19 outbreak as lockdown measures have put mobility to a halt. He pointed out that transportation makes up 57% of all oil demand.

The oil sector was hit particularly hard in March, said Prof Renato, as Saudi Arabia initiated a price war with Russia and OPEC partners in March, when there were fewer than 150,000 of COVID-19 cases.

The World Health Organization (WHO) had declared it to be a pandemic days later on March 12, which exacerbated the surplus in the market, as more and more countries adopted mobility restrictions.

“OPEC always had to walk a fine line between restricting output too much (which encourages oil-to-oil competition and substitutes) and producing too fast, which would accelerate reserve depletion and decrease prices,” said Prof Renato.

OPEC members currently have enough oil reserves to produce for 86 years, while non-OPEC members, like the US, Brazil and Norway, have the capacity to produce for 24 years.

Given the prospect of an accelerated energy transition to renewable energy, these countries may end up with worthless reserves, unless they increase their rate of extraction now and occupy the market share currently taken by high-cost products such as shale oil from the US or ultra-deepwater from Brazil.

“The energy transition is underway and sitting on 80 over years of oil reserves may not be the best commercial idea,” said the professor.

He added that this scenario shows the urgency for Malaysia to diversify its sources of revenue to become less dependent on oil.

Besides that, the country’s O&G sector also needs to innovate in order to reduce costs and monetise the current resource-base, as well as invest in building capabilities in renewables to create and preserve jobs in the energy sector.


##https://www.theedgemarkets.com/article/ideas-malaysia-may-lose-rm31-bil-year-if-oil-prices-remain-us30-barrel

Warren Buffett's Berkshire Hathaway sold $30 million worth of BNY Mellon stock this week

Warren Buffett's Berkshire Hathaway sold about $30 million worth of Bank of New York Mellon stock this week, according to a SEC filing published on Friday.

The famed investor's conglomerate disposed of almost 860,000 BNY Mellon shares for about $35 each, trimming its stake in the bank from roughly 10.4% to 9.8%. It likely wanted to reduce the added regulatory burden that comes with holding a stake of 10% or more.

Berkshire's remaining stake in the company is worth about $3.3 billion. BNY Mellon stock has plunged by more than a quarter since the start of the year, reflecting a broader market decline fueled by the novel coronavirus pandemic.

The sales come after Berkshire sold nearly $390 million worth of shares in Delta Air Lines and Southwest Airlines last week, slashing its stakes in each airline by roughly 18% and 3%.


##https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-sold-30-million-bny-mellon-stock-2020-4-1029081968

Why Is Warren Buffett Selling So Many Stocks?

The stock market is going through its first bear market in more than a decade, and investors have felt the pinch in their portfolios. Even Warren Buffett hasn't been immune from the economic impacts of the coronavirus pandemic, as his Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) has seen its stock price suffer as well.

Buffett is well known as an opportunist, taking advantage of tough market conditions to pick up bargain stocks on the cheap. This time, though, his most visible actions have been selling stocks. That seems to run counter to Buffett's entire investing philosophy.

There's a good reason underlying most of Buffett's stock sales lately. It has more to do with regulation than fundamental business prospects, though, and that's why it seems so out of line with what the Berkshire Hathaway CEO is likely doing with the rest of his portfolio right now.

What Buffett has sold so far

From what Berkshire Hathaway has disclosed so far, we know about the following moves from Warren Buffett and his company:

On April 1 and 2, Berkshire sold about 13 million shares of Delta Air Lines (NYSE:DAL), raising $314 million in cash and taking his stake in Delta down from more than 11% to about 9.24%.

Berkshire also sold shares of Southwest Airlines (NYSE:LUV) in that time period, with a smaller sale of 2.3 million shares raising about $74 million and leaving the insurance giant with a 9.92% stake in the Dallas-based airline.

Later in April, Buffett sold 860,000 shares of Bank of New York Mellon (NYSE:BK), raising $30 million and leaving Berkshire with a 9.96% stake in the banking institution.

Those sales made huge news, raising all sorts of questions about Buffett's motivations. But if you look closely, you'll notice that the moves took all of those stocks below the 10% ownership threshold. Amid the storm and fury, it's possible that the implications of 10% ownership were the primary motivations for selling the stocks.
What 10% ownership means

There are surprisingly large ramifications from owning a 10% stake in a publicly traded company. One core securities law comes into play, as Section 16(b) of the Securities Exchange Act of 1934 limits the ability of 10% owners to make ongoing trades in a stock, as the 10% owner essentially gains insider status and invites litigation if it continues to buy and sell shares. That's not such a large issue for Buffett, who tends not to trade his positions frequently, but it often comes into play for activist investors looking to influence corporate policy. That's why you'll so frequently see activists take 9.9% or smaller stakes in the companies they've chosen to engage. It leaves them with greater flexibility to exit their positions if they choose later on.

There are restrictions on those who own 5% or more of a company's shares, but they're less severe. In particular, 5% owners are required to file initial disclosures revealing that they've passed that threshold, but they get 10 days to do so. Again, that's a relatively minor issue for Buffett.

The biggest issue for Berkshire is the set of rules governing bank holding companies. Owning 10% or more of a banking institution could force the insurer to face the same regulations that major financial players in the banking industry have to obey, including capital requirements and oversight from the Federal Reserve and other bank regulators. Buffett has repeatedly sold shares of other banks to keep under the 10% threshold, so the recent sale of BNY Mellon isn't surprising in that context.


##https://www.fool.com/investing/2020/04/15/why-is-warren-buffett-selling-so-many-stocks.aspx

The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’

(PUBLISHED WED, APR 15 202010:19 AM EDTUPDATED 5 HOURS AGO)

~ Consumer and manufacturing reports for March showed the hit to the economy from the coronavirus was deeper in the early weeks of the shutdown than expected.

~ March retail sales fell 8.7%, the most ever in government data, and New York regional manufacturing activity hit an all-time low, declining to a shocking negative 78.2%.

~ “The economy is clearly in ruins here,” said Chris Rupkey, chief financial economist at MUFG Union Bank.


Consumer and manufacturing reports for March showed the hit to the economy from the coronavirus was even swifter and deeper in the early weeks of the shutdown than expected.

March retail sales fell 8.7%, the most ever in government data, and New York regional manufacturing activity hit an all-time low, declining to a shocking negative 78.2%. Industrial production slipped 5.4%, the largest decline since 1946, and manufacturing was down 6.3%, a record reflecting in part the 28% decline in auto production as plants shut down.

The economic reports showed the double whammy of state shutdowns in mid-March on two pillars of the economy — the consumer and business. The reports were even more dire than expected, and foreshadow even worse declines in April’s activity, with state shutdowns affecting areas responsible for more than 90% of the economy.

Homebuilder sentiment also took a big hit during early April, falling the most ever in a one-month period since its inception 35 years ago. Builder confidence for single-family homes plunged 42 points to 30, the lowest level since June 2012, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.

March retail sales fell 8.7%, a record drop, with the only sign of activity at grocery and beverage stores, which saw sales grow by 25.6%. Economists expected an 8% decline in monthly sales. The consumer accounts for 70% of the economy.

“The economy is clearly in ruins here,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “Nobody is buying cars, down 25.6%, nobody is buying furniture, down 26.8%, and eating and drinking places were down 26.5%.”

The economic decline, which started in the first quarter is expected to reach its trough in the second quarter. Economists anticipate an unprecedented drop of more than 30% in GDP for the second quarter. JPMorgan economists expect a 40% decline in the second quarter, on top of a 10% drop in the first quarter.

Already negative first-quarter GDP forecasts may also worsen, showing the economy began contracting at a rapid pace when businesses closed down, states ordered residents to stay home, and President Donald Trump told Americans to stay out of restaurants and practice safe distancing.

But Ward McCarthy, chief financial economist at Jefferies, said the retail sales data muddies the outlook for first-quarter GDP, since some sales categories in the data used to calculate it actually improved. They include building materials, up 1.3%, and health and personal care, which climbed 4.3%.

“The bottom line is that consumer spending has fallen off a cliff after being relatively solid for a prolonged period of time,” according to McCarthy. “There has been significant substitutions in spending habits as consumers have tried to cope with social distancing. The consumer sector will provide a drag on Q1 and Q2, but it’s going to be difficult to estimate the size of the drag.”

March retail sales also showed barely a blip in online purchases, only up 3.1%, though consumers are shopping from home. The Commerce Department acknowledged it had difficulty collecting data as many businesses have shut down.

“Retail sales in the fourth quarter of 2008 fell over 8%, but that was over three months,” Rupkey said. “This was just one month. ... Consumers are hunkering down at home, only venturing out to go to the grocery store. It’s lights out today, and as far as we can tell, it’s going to be worse next month.”

The Empire State manufacturing survey fell by its biggest margin ever to a historic low, much steeper than any number in the financial crisis and more than double the expected decline in activity in the New York region, hardest hit by the virus.

“Overall, today’s manufacturing numbers indicate an expected slowing in activity, but slightly earlier and more widespread than previously thought,” noted Citigroup economists. They said the depth of the decline in apparel manufacturing of 16.5% and furniture, down 10%, were surprising.


##https://www.cnbc.com/2020/04/15/the-economic-data-is-even-worse-than-wall-street-feared-the-economy-is-clearly-in-ruins-here.html

Since this month is report card season...

US economy just announced very ugly retail sales data & manufacturing yesterday...

All Big Bank in US also reported profit plummeted by 40% ~ 50%...

Be more alert now current trading level...........

The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’

PUBLISHED WED, APR 15 202010:19 AM EDTUPDATED 18 MIN AGO

Consumer and manufacturing reports for March showed the hit to the economy from the coronavirus was even swifter and deeper in the early weeks of the shutdown than expected.

March retail sales fell 8.7%, the most ever in government data, and New York regional manufacturing activity hit an all time low, declining a shocking 78.2%. Industrial production declined 5.4% and manufacturing was down 6.3%, a record reflecting the 28% decline in auto production as plants shut down.

The economic reports showed the double whammy of state shutdowns in mid-March on two pillars of the economy — the consumer and business. Both reports were even more dire than expected, and foreshadow even worse declines in April’s activity, with state shutdowns affecting areas responsible for more than 90% of the economy.

March retail sales fell 8.7%, a record drop, with the only sign of activity at grocery and beverage stores, which saw sales grow by 25.6%. Economists expected an 8% decline in monthly sales. The consumer accounts for 70% of the economy.

“The economy is clearly in ruins here,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “Nobody is buying cars, down 25.6%, nobody is buying furniture, down 26.8%, and eating and drinking places were down 26.5%.”

The economic decline, which started in the first quarter is expected to reach its trough in the second quarter. Economists expect an unprecedented drop of more than  30% in GDP for the second quarter. JPMorgan economists expected a 40% decline in the second quarter, on top of a 10% drop in the first quarter.

But now already negative first quarter GDP forecasts may also worsen, showing the economy began contracting at a rapid pace when businesses closed down, states ordered residents to stay home and President Donald Trump told Americans to stay out of restaurants and practice safe distancing.


Cont....


##https://www.cnbc.com/2020/04/15/the-economic-data-is-even-worse-than-wall-street-feared-the-economy-is-clearly-in-ruins-here.html

Stock market live updates: Dow futures off 500, shocking economic data, bank earnings plunge

PUBLISHED WED, APR 15 20207:40 AM EDTUPDATED 7 MIN AGO



##https://www.cnbc.com/2020/04/15/stock-market-today-live.html



^^^ Prepare for 2nd waive & perfect storm coming around the corner

Goldman’s profit tumbled 46%, but bank posts strongest bond-trading results in 5 years

PUBLISHED WED, APR 15 20207:18 AM EDTUPDATED MOMENTS AGO

~ Goldman Sachs on Wednesday said first quarter profit dropped 46% as the coronavirus pandemic wiped out results in its asset management division. 

~ The bank said it earned $1.21 billion in the quarter, or $3.11 a share, missing the $3.35 estimate of analysts surveyed by Refinitiv.

~ While results were dragged down by losses in debt and equity holdings housed in the asset management business, the firm’s trading division exceeded expectations, helping companywide revenue of $8.74 billion top the $7.92 billion estimate. 

~ Goldman shares slipped 3.3% in premarket trading.


## https://www.cnbc.com/2020/04/15/goldman-sachs-gs-earnings-q1-2020.html

Citigroup’s first-quarter profit tumbles 46% as bank sets aside more money for loan losses

PUBLISHED WED, APR 15 20207:59 AM EDTUPDATED 25 MIN AGO

~ Citigroup reported a sharp drop in its first-quarter profit as the bank built its loan-loss reserves by $4.9 billion.

~ Although the results were better than anticipated, it’s difficult to compare reported earnings to analyst estimates in light of the coronavirus pandemic.


##https://www.cnbc.com/2020/04/15/citigroup-q1-2020-earnings.html

New York manufacturing hits record low reading of -78.2 amid coronavirus collapse

PUBLISHED WED, APR 15 20208:39 AM EDTUPDATED MOMENTS AGO

Manufacturing in the New York area fell by its biggest margin ever to a historic low far worse than anything seen during the Great Recession.

The Empire State Manufacturing Index for April hit -78.2, worse even than the -32.5 expected by economists surveyed by Dow Jones. The worst reading the index had seen was -34.3 during the financial crisis.

The index measures companies reporting better vs. worse conditions over the past month. Just 7% reported stronger conditions, while 85% said things had weakened.

As businesses shut down due to coronavirus restrictions, it was no surprise that firms in New York, which has been the epicenter of cases in the U.S., would experience a downturn or near total stoppage. However, the outlook ahead wasn’t much better, with the future expectations index registering a 7% reading.

“New orders and shipments declined at a record pace. Delivery times lengthened, and inventories fell. Employment levels and the average workweek both contracted at a record pace,” the New York Federal Reserve said in a release. “Input price increases slowed considerably, while selling prices declined modestly. Though current conditions were extremely weak, firms expected conditions to be slightly better six months from now.”

Nearly 59% of companies reported fewer employees against just 3.3% saying they had more. About 77% said new orders had fallen, while 76% reported a decline in shipments.


##https://www.cnbc.com/2020/04/15/new-york-manufacturing-hits-record-low-reading-of--78point2-amid-coronavirus-collapse.html

见好就收✋.......

Thanks for your advise......

But....you are still "A" student.....


Posted by Jack Khan > Apr 15, 2020 8:54 AM | Report Abuse

keyman play like that always sailang, sure one day lost drop from 2 to 0.20

Just to highlight that, I'm not side to any people here...

I always like to explore, research & study......

Be more understanding...........

I know why can lose 90% of the wealth…

For example, initial capital at margin account by RM 3 million…

Current share price started to be in @ RM 1.00….

So margin account allow me to be in 7.5 million share (assuming margin account by 2.5 times)…

If the trading had started 1 year ago, so when the share price gradually pushing up up up….

So in between the share price going up, I can materialised some share turn into cash….

Once turn into cash, share margin account become more & more higher margin (don’t forget, if cash term can obtained 2.5 times of margin)…..

Assumption :-

Initial capital margin account : RM 3,000,000

Limit of margin account : RM 7,500,000

Current share price : RM 1.00

Share bet in : 7,500,000 million share

Materialised profit : sold 4,000,000 (within a year cash out into share margin account)

Bal holding share : 3,500,000 million share

Capital increased : RM 3,000,000 + RM 4,000,000 (assuming profit by RM 1 per share)

New capital margin account : RM 7,000,000

New limit of margin account : RM 17,500,000

Current share price : RM 2.00

Share bet in again : 3,500,000 (existing) + 7,250,000 (new add in) million share

** Total shareholding now @ 10,750,000 million share


## Don’t forget, I can use this method to push up again & again & practice the same way to maximise my share holdings


(Please advise me if I'm miscalculation or misinterpretation)

I know why can lose 90% of the wealth…

For example, initial capital at margin account by RM 3 million…

Current share price started to be in @ RM 1.00….

So margin account allow me to be in 7.5 million share (assuming margin account by 2.5 times)…

If the trading had started 1 year ago, so when the share price gradually pushing up up up….

So in between the share price going up, I can materialised some share turn into cash….

Once turn into cash, share margin account become more & more higher margin (don’t forget, if cash term can obtained 2.5 times of margin)…..

Assumption :-

Initial capital margin account : RM 3,000,000

Limit of margin account : RM 7,500,000

Current share price : RM 1.00

Share bet in : 7,500,000 million share

Materialised profit : sold 4,000,000 (within a year cash out into share margin account)

Bal holding share : 3,500,000 million share

Capital increased : RM 3,000,000 + RM 4,000,000 (assuming profit by RM 1 per share)

New capital margin account : RM 7,000,000

New limit of margin account : RM 17,500,000

Current share price : RM 2.00

Share bet in again : 3,500,000 (existing) + 7,250,000 (new add in) million share

** Total shareholding now @ 10,750,000 million share


## Don’t forget, I can use this method to push up again & again & practice the same way to maximise my share holdings


(Please advise me if I'm miscalculation or misinterpretation)

总警长：若病例继续增加·“行管令或延至6月”

(八打灵再也14日讯）全国总警长丹斯理阿都哈密提醒民众，如果因民众冥顽不宁而导致冠状病毒病病例继续增加，那么行动管制令可能会延长到六月份。

马来文报章《大都会日报》引述阿都哈密指出，为了阻断冠病传播，警方执行行管令不会有任何松懈，任何违令者都会被逮捕。

首相丹斯理慕尤丁宣布行管令将二度延长至4月28日，而明天我国将踏入第三阶段的行管令，而国防部高级部长拿督斯里依斯迈沙比利今日也宣布，自明日起，任何违反行管令的人士都会被警方逮捕及提控上庭，而不会再发出1000令吉的罚单，以确保民众不会再违反行管令。

除了严厉对付违反行管令的人士，军警人员也陆续在全国各地进一步增加路障以及封锁一些路段，以收紧民众的移动范围。


##https://www.sinchew.com.my/pad/con/content_2253591.html

总警长：若病例继续增加·“行管令或延至6月”

(八打灵再也14日讯）全国总警长丹斯理阿都哈密提醒民众，如果因民众冥顽不宁而导致冠状病毒病病例继续增加，那么行动管制令可能会延长到六月份。

马来文报章《大都会日报》引述阿都哈密指出，为了阻断冠病传播，警方执行行管令不会有任何松懈，任何违令者都会被逮捕。

首相丹斯理慕尤丁宣布行管令将二度延长至4月28日，而明天我国将踏入第三阶段的行管令，而国防部高级部长拿督斯里依斯迈沙比利今日也宣布，自明日起，任何违反行管令的人士都会被警方逮捕及提控上庭，而不会再发出1000令吉的罚单，以确保民众不会再违反行管令。

除了严厉对付违反行管令的人士，军警人员也陆续在全国各地进一步增加路障以及封锁一些路段，以收紧民众的移动范围。


##https://www.sinchew.com.my/pad/con/content_2253591.html

JPMorgan reports big decline in first-quarter earnings from coronavirus, but posts record markets revenue

PUBLISHED TUE, APR 14 20206:20 AM EDTUPDATED MOMENTS AGO

~ JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Tuesday.

~ Here’s what Wall Street expects: Earnings: $1.84 per share, a 31% decline from a year earlier, according to Refinitiv.

~ Revenue: $29.67 billion, a 0.6% decline from a year earlier.

~ Trading Revenue: Fixed income $4 billion, equities $2.08 billion


##https://www.cnbc.com/2020/04/14/jpmorgan-chase-jpm-earnings-q1-2020.html

Today finally sold all @ 1.03..... 

My entry point only @ 0.755...... 

For the time being, quite substantial handsome profit is far sufficient... 

Let the new warriors to battle...... 

Good luck & enjoy your trading.....

Today finally sold all @ 1.26 / 1.27......

My entry point only @ 0.84 last month......

For the time being, quite substantial handsome profit is far sufficient...

Let the new warriors to battle......

Good luck & enjoy your trading.....

One thing for sure that margin account really high risk...

One thing for sure that we can learn well lessons don't simply maximize margin account...

No matter how...

This month already wildly rebound back by 13.75% from last month low...

So no point battle with more & more resistance level....

Too bad...Today I finally have disposed quite substantial my portfolio...


1) CMSB @ 1.26 / 1.27 (all)

2) Muhibbah @ 1.03 (all)

3) Gadang @ 0.370 (all)

4) UMW @ 2.18 (1/3)

5) BAT @ 10.86 (1/3)


The rest holdings will closely monitor this coming few days then re-decide.....

Markets have not hit the ‘absolute bottom’ yet, says Mark Mobius

(PUBLISHED TUE, APR 14 20204:11 AM EDT)

~ “I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mark Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.

~ Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.

~ Mobius also suggested that the damage from a protracted shutdown would be “incredible,” and called for the economy to open up again “in some way.”


Markets probably have not hit the “absolute bottom” yet, said veteran emerging markets investor Mark Mobius, who urged investors to keep cash on hand for buying opportunities.

“I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.

Earnings season is set to kick off Tuesday with JPMorgan Chase, Wells Fargo and Johnson & Johnson reporting numbers. The first batch of results will give investors a sense of how devastating the hit to corporations could be from the pandemic.

Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.

Markets have, meanwhile, been volatile in the past month as the number of coronavirus cases and fatalities in the U.S. spiked sharply. Since the S&P 500′s all-time high on February 19, it’s down almost 19%.

The question on investors’ minds have been whether markets have reached a bottom. But Mobius urged people to keep more cash on hand in case another bottom occurs.

“Although there are some opportunities to buy, I would say it’s probably a good idea to keep some powder dry for another downturn. We might see a double bottom,” he said.

Mobius also suggested that the damage from a protracted shutdown would be “incredible,” and called for the economy to open up again “in some way.”

Many affected countries are under lockdown or stay-home measures because of the outbreak and authorities are debating when things can go back to normal.

But Mobius said: “I think we have to open up again in some way, because otherwise the collateral damage is going to be incredible. You think about the people who live day to day ... you got to get the economy going again.”

U.S. President Donald Trump last week said he wanted the economy to “open as soon as possible,” but won’t do so “until we know this country is going to be healthy.”

The U.S. Department of Health and Human Services reportedly projected that lifting stay-at-home orders, school closures and social distancing after just 30 days would lead to an infection spike this summer.


##https://www.cnbc.com/2020/04/14/mark-mobius-on-markets-bottom-investing-coronavirus.html

My personal entry level shall @ 0.550 ~ 0.600......

Since the latest dividend payout reduced by 25%.......

One more advice, don't simply listen to others...

Please do more own research & study...

Stock market not only 1 day can be rich...

Today you win 1 round but you can lose whole life if you misinterpret what is real market going on...

I more prefer 80% FA...20% TA....

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

Last month I bought @ 0.035 & 0.040....

But I left the boat ready when pushing up...

Further more, for the past record since 2014 until now, management still struggling to pare down debt but jobs secured not so high...

If you lucky able to strike in this level, once push up, don't be greedy & left the boat 1st...

Is the good time to self-learning, don't simply follow other members comments or approach... 


So far I know, already incurred losses from AirAsia, later switch to IOIProp (also same issue)...then come to this counter.... 


For my strongly advise, do more research & study, nowadays online learning very convenient... 





Posted by SA2023 > Apr 6, 2020 9:42 PM | Report Abuse  

Promoter sudah jual MCT ke?. Today busy promote 2 other counters. 



Posted by Abd Rahim Osman > Apr 12, 2020 5:30 PM | Report Abuse  

Victor Yong dah selesai jual kot  
No more info and comment

KLCI afternnon session no eye see liao.....

DJIA future heading -400 pt....

Nikkei 225 now trading -300 ++ pt...

School of Hard Rock...........

KLCI now trading @ "Cross-Death" direction...

Don't know whether consolidation now or bear market rally !!!...

All need to wait this week US market direction....................

US (DJIA) future market -400 pt....

Hopefully no "Circuit Breaker" again...

Despite I still holding this counter but we need to accept the reality...

l foresee very close to peak price ready for short period of this time...

Most likely will adjust pricing in the coming week...

So long as not dip below 0.86 then got chance rebound back between 1.10 ~ 1.20 between...


^^^If you feel undervalue stock, just buy & keep it no matter share price up & down....

@XiaYiDao....Good also lahhh...

Even though incurred some losses but at least can buy property for safety investment...

Good choice.....Good movement.....Good action.....

Furthermore, I saw last few days Rakuten report...

Recently about 11,000 newbies start opening trading account to bet this turmoil market....

Actually good sign for Bursa because new blood join in for battle...

But...bad point is majority newbies any experience to tackle unprecedented great depression or crisis !!!!....

How many newbies willing spend more time for self-learning rather than listening to other before battle at Stock Market !!!...

How many newbies willing & agree to face the coming losses (if wrongly bet) !!!......

Don't forget...our Malaysia household debts standing about 85% of GDP...

How many newbies definitely have own "Extra Savings" to bet this market turmoil !!!.............or Perhaps just based on borrowings to battle !!!.........

Now I'm not concern Malaysia market...

Global investors now watching closely US market...

Virus outbreak unprecedented faster than what global market thought...

US now tremendously more & more ppl infected....

Further more, US stock market already rebounded by 28% from March'20 low....

Just less than 3 weeks time period....unbelievable....

I personally view that, 1 or 2 times again for "circle breaker" again...

Very high possibility US market can reach 45% off from peak level...

Be alert...Be alert....

Hope I am wrong otherwise members here sure ban me....kekeke...

KLCI will retest 1332 level & 1308 level again....

Shall I short KLCI Future next week !!!........

##https://www.bloomberg.com/energy

Well prepare for next week volatile again especially Oil & Gas counters...

WTI @ 22.76..........Brennt @ 31.48........

Well prepare for next week volatile again especially Oil & Gas counters...

WTI @ 22.76..........Brennt @ 31.48........


##https://www.bloomberg.com/energy

Well prepare for next week volatile again especially Oil & Gas counters...

WTI @ 22.76..........Brennt @ 31.48........


##https://www.bloomberg.com/energy

##https://www.bloomberg.com/energy

Well prepare for next week volatile again especially Oil & Gas counters...

WTI @ 22.76..........Brennt @ 31.48........

Well prepare for next week volatile again especially Oil & Gas counters...

WTI @ 22.76..........Brennt @ 31.48........


##https://www.bloomberg.com/energy

Well prepare for next week volatile again especially Oil & Gas counters...

WTI @ 22.76..........Brennt @ 31.48........


##https://www.bloomberg.com/energy

Mexican president's nationalist oil vision fuels standoff with Saudis

(Business News April 12, 2020 / 6:18 AM / Updated 4 hours ago)

MEXICO CITY/DUBAI (Reuters) - The biggest supply cut ever contemplated by the world’s top oil producers is hanging in the balance as a refusal by Mexico’s leftist leader to imperil his plans to rebuild state oil company Pemex has angered the Saudi prince who helped craft the deal.

For the past three days, Mexico has kept the oil industry on tenterhooks by resisting Saudi pressure to sign up to global cuts worth nearly a quarter of output for participating countries, aimed at reviving prices from their lowest level in decades.

Prices have collapsed as the new coronavirus outbreak has shuttered economies around the world and destroyed demand for fuel.

The refusal by President Andres Manuel Lopez Obrador to compromise his plan to revive Pemex by agreeing to steep cuts has shone the global spotlight on Mexico as he prioritizes his domestic agenda over the collective interests of the world’s largest oil producers.

Determined to shore up the money-losing and heavily indebted Petroleos Mexicanos, as Pemex is officially known, Lopez Obrador offered only a cut of 100,000 barrels per day (bpd), rather than the 400,000 bpd the group of global producers sought.

In a compromise hammered out with U.S. President Donald Trump, Lopez Obrador said on Friday the United States had offered to cut an additional 250,000 bpd on Mexico’s behalf, bringing them close to the target.

However, Saudi Arabia - the heavyweight of global oil diplomacy - has balked at that and dug in its heels, despite some other producers from the group of OPEC nations and their allies - known as OPEC+ - calling for the cuts to go ahead regardless.

Lopez Obrador, a staunch advocate of non-intervention in other countries’ affairs, defended his stance on Friday, harking back to a time Mexico was “strong” and “self-sufficient” in oil.

“There were stories in the papers trying to blame us, that there wasn’t a deal because of us,” the 66-year-old president told reporters, adding that Mexico could not afford the 23% production cut asked of it, but had offered 5.5%.

“Mexico is doing its bit.”

Lopez Obrador’s insistence on the importance of rescuing Pemex was crucial in the arguments he used to persuade Trump to help out, a senior Mexican official told Reuters.

Meanwhile, his representative at the OPEC+ talks, Energy Minister Rocio Nahle, upset some other countries, notably the host Saudi Arabia, whose negotiator Prince Abdulaziz bin Salman argued that making exceptions could encourage others to dodge output commitments, according to several delegates.

“If OPEC+ accepted this and everybody who doesn’t like the numbers can just withdraw or leave, then we are in for a really bad time,” said one OPEC source.

The source said Nahle, who only last month signed up to smaller planned cuts, was intransigent over the proposed reductions.

For producers, the cuts are bitter but necessary medicine for low prices. Iraq is relying on oil revenue to rebuild after years of brutal internal conflict, and yet committed to reductions of 1 million bpd.

MEXICAN WALK OUT

Some delegates accused Nahle of hanging up on the other ministers during the video conference, but she pushed back against that on Friday, saying in a Mexican radio interview she had been “respectful of the other countries” and that each government had to consider its own capacity.

“We all lose in this situation: The producing countries lose and even the consumers do too,” she said.


##https://www.reuters.com/article/us-global-oil-mexico-saudiarabia-analysi/mexican-presidents-nationalist-oil-vision-fuels-standoff-with-saudis-idUSKCN21T0W1

Mexican president's nationalist oil vision fuels standoff with Saudis

(Business News April 12, 2020 / 6:18 AM / Updated 4 hours ago)

MEXICO CITY/DUBAI (Reuters) - The biggest supply cut ever contemplated by the world’s top oil producers is hanging in the balance as a refusal by Mexico’s leftist leader to imperil his plans to rebuild state oil company Pemex has angered the Saudi prince who helped craft the deal.

For the past three days, Mexico has kept the oil industry on tenterhooks by resisting Saudi pressure to sign up to global cuts worth nearly a quarter of output for participating countries, aimed at reviving prices from their lowest level in decades.

Prices have collapsed as the new coronavirus outbreak has shuttered economies around the world and destroyed demand for fuel.

The refusal by President Andres Manuel Lopez Obrador to compromise his plan to revive Pemex by agreeing to steep cuts has shone the global spotlight on Mexico as he prioritizes his domestic agenda over the collective interests of the world’s largest oil producers.

Determined to shore up the money-losing and heavily indebted Petroleos Mexicanos, as Pemex is officially known, Lopez Obrador offered only a cut of 100,000 barrels per day (bpd), rather than the 400,000 bpd the group of global producers sought.

In a compromise hammered out with U.S. President Donald Trump, Lopez Obrador said on Friday the United States had offered to cut an additional 250,000 bpd on Mexico’s behalf, bringing them close to the target.

However, Saudi Arabia - the heavyweight of global oil diplomacy - has balked at that and dug in its heels, despite some other producers from the group of OPEC nations and their allies - known as OPEC+ - calling for the cuts to go ahead regardless.

Lopez Obrador, a staunch advocate of non-intervention in other countries’ affairs, defended his stance on Friday, harking back to a time Mexico was “strong” and “self-sufficient” in oil.

“There were stories in the papers trying to blame us, that there wasn’t a deal because of us,” the 66-year-old president told reporters, adding that Mexico could not afford the 23% production cut asked of it, but had offered 5.5%.

“Mexico is doing its bit.”

Lopez Obrador’s insistence on the importance of rescuing Pemex was crucial in the arguments he used to persuade Trump to help out, a senior Mexican official told Reuters.

Meanwhile, his representative at the OPEC+ talks, Energy Minister Rocio Nahle, upset some other countries, notably the host Saudi Arabia, whose negotiator Prince Abdulaziz bin Salman argued that making exceptions could encourage others to dodge output commitments, according to several delegates.

“If OPEC+ accepted this and everybody who doesn’t like the numbers can just withdraw or leave, then we are in for a really bad time,” said one OPEC source.

The source said Nahle, who only last month signed up to smaller planned cuts, was intransigent over the proposed reductions.

For producers, the cuts are bitter but necessary medicine for low prices. Iraq is relying on oil revenue to rebuild after years of brutal internal conflict, and yet committed to reductions of 1 million bpd.

MEXICAN WALK OUT

Some delegates accused Nahle of hanging up on the other ministers during the video conference, but she pushed back against that on Friday, saying in a Mexican radio interview she had been “respectful of the other countries” and that each government had to consider its own capacity.

“We all lose in this situation: The producing countries lose and even the consumers do too,” she said.


##https://www.reuters.com/article/us-global-oil-mexico-saudiarabia-analysi/mexican-presidents-nationalist-oil-vision-fuels-standoff-with-saudis-idUSKCN21T0W1

Mexican president's nationalist oil vision fuels standoff with Saudis

(Business News April 12, 2020 / 6:18 AM / Updated 4 hours ago)

MEXICO CITY/DUBAI (Reuters) - The biggest supply cut ever contemplated by the world’s top oil producers is hanging in the balance as a refusal by Mexico’s leftist leader to imperil his plans to rebuild state oil company Pemex has angered the Saudi prince who helped craft the deal.

For the past three days, Mexico has kept the oil industry on tenterhooks by resisting Saudi pressure to sign up to global cuts worth nearly a quarter of output for participating countries, aimed at reviving prices from their lowest level in decades.

Prices have collapsed as the new coronavirus outbreak has shuttered economies around the world and destroyed demand for fuel.

The refusal by President Andres Manuel Lopez Obrador to compromise his plan to revive Pemex by agreeing to steep cuts has shone the global spotlight on Mexico as he prioritizes his domestic agenda over the collective interests of the world’s largest oil producers.

Determined to shore up the money-losing and heavily indebted Petroleos Mexicanos, as Pemex is officially known, Lopez Obrador offered only a cut of 100,000 barrels per day (bpd), rather than the 400,000 bpd the group of global producers sought.

In a compromise hammered out with U.S. President Donald Trump, Lopez Obrador said on Friday the United States had offered to cut an additional 250,000 bpd on Mexico’s behalf, bringing them close to the target.

However, Saudi Arabia - the heavyweight of global oil diplomacy - has balked at that and dug in its heels, despite some other producers from the group of OPEC nations and their allies - known as OPEC+ - calling for the cuts to go ahead regardless.

Lopez Obrador, a staunch advocate of non-intervention in other countries’ affairs, defended his stance on Friday, harking back to a time Mexico was “strong” and “self-sufficient” in oil.

“There were stories in the papers trying to blame us, that there wasn’t a deal because of us,” the 66-year-old president told reporters, adding that Mexico could not afford the 23% production cut asked of it, but had offered 5.5%.

“Mexico is doing its bit.”

Lopez Obrador’s insistence on the importance of rescuing Pemex was crucial in the arguments he used to persuade Trump to help out, a senior Mexican official told Reuters.

Meanwhile, his representative at the OPEC+ talks, Energy Minister Rocio Nahle, upset some other countries, notably the host Saudi Arabia, whose negotiator Prince Abdulaziz bin Salman argued that making exceptions could encourage others to dodge output commitments, according to several delegates.

“If OPEC+ accepted this and everybody who doesn’t like the numbers can just withdraw or leave, then we are in for a really bad time,” said one OPEC source.

The source said Nahle, who only last month signed up to smaller planned cuts, was intransigent over the proposed reductions.

For producers, the cuts are bitter but necessary medicine for low prices. Iraq is relying on oil revenue to rebuild after years of brutal internal conflict, and yet committed to reductions of 1 million bpd.


##https://www.reuters.com/article/us-global-oil-mexico-saudiarabia-analysi/mexican-presidents-nationalist-oil-vision-fuels-standoff-with-saudis-idUSKCN21T0W1