WASHINGTON (March 18): Goldman Sachs Group Inc and Morgan Stanley economists joined the rush on Wall Street to declare that the *** coronavirus has triggered a global recession ***, with the debate now focusing on its likely length and depth.

https://www.theedgemarkets.com/article/morgan-stanley-goldman-declare-global-recession-under-way

It will be utmost stressing if the trading time on Bursa is shortened bcos now we all cannot go out of our home to relax n destress.

Play play on Bursa is fun ! Of course, we no lose our funds in order to get fun !

buy

KUALA LUMPUR (March 18): Rubber glove manufacturers are expected to record higher margins amid the current Covid-19 outbreak, said CGS-CIMB Research in a note today.

The research house said this will be driven by a 3-5% increase in selling prices, improved economies of scale arising from higher production output, and a more profitable sales mix.

“With strong global glove demand, we believe that glove makers have no choice but to prioritise clients based on pricing and product mix,” it said.

The global demand for rubber gloves has shot passed levels seen during the SARS and H1N1 outbreaks in 2003 and 2009 respectively.

“To put into context, we understand that average lead time for glove makers to fulfil orders has risen up to a minimum of four months versus usually 1-2 months on average. Note that the lead time for rubber gloves during the SARS outbreak was two months and H1N1 (bird flu) outbreak was three months,” the research house said.

Furthermore, their operations will not be disrupted by the current nationwide movement restriction order, which is effective from today until March 31, as the manufacturing of rubber gloves is deemed an essential medical industry by the government.

It added that the current operating environment for the sector is favourable as the ringgit has weakened against the US dollar.

Year-to-date (YTD), the ringgit has fallen by 5.4% against the greenback, which is beneficial for glove makers as over 90% of their sales are denominated in the US dollar.

In addition, the prices of important raw materials have continued to drop amid global uncertainties. For instance, nitrile butadiene prices have declined 4.5% YTD.

Thus, GCS-CIMB is overweight on the sector, despite its premium valuation.

“We have 'add' calls for all four glove stocks, with Top Glove and Kossan as our top picks in the sector,” it said.

The research house added that re-rating catalysts for the sector include stronger-than-expected glove sales, and higher-than-expected margins.

Meanwhile, downside risks include a sharp easing of the coronavirus concerns, and the strengthening of the ringgit against the US dollar.

Buy n hold, please.

She added that countries globally have taken various measures to mitigate the economic aftermath of COVID-19, which is expected to be worse than the 1997 Financial Crisis, including announcing economic stimulus and relief packages for the people as well as businesses.

An analyst said that the ringgit is expected to continue its decline as Malaysia is directly impacted by the worsening COVID-19 pandemic.

U no have to bother.

U.S. growth will shrink 5% in the next quarter and the coronavirus outbreak will “probably” lead to a recession, Goldman Sachs said.

The investment bank’s economic research team, led by Jan Hatzius, said economic activity would “contract sharply” for the rest of March and April as consumers and businesses cut back on spending. They expected a recovery after April, though that was uncertainty, but said their new forecasts “probably” met the criteria for a recession.

They expected real GDP growth of 0% in the first quarter and a contraction of 5% in the second quarter. “This takes our 2020 GDP forecast down to +0.4%(from 1.2%). The uncertainty around all of these numbers is much greater than normal.”

Global recession is expected this year: S&P Global

LONDON (March 17): The sudden economic stop caused by coronavirus containment measures will cause a global recession this year and could see U.S. corporate default rates spike above 10% in the next 12 months, ratings agency S&P Global warned on Tuesday.

All stocks are falling like rocks !

No run, sure die lah.

Maybe Supermax should be computed by the no. of covid-19 cases ?

Which cause more injury to human ?

1. covid-19 or

2. the killer mkt now ?

Agreed

Macquarie Equities Research (MQ Research) wrote a report this morning (16 Mar), naming stocks

that stand out to them that investors may consider accumulating, including glovemakers Top Glove

and Hartalega, as well as defensive names such as Public Bank…

2morow, makan angin Genting Highlands got open ?

Sell first before others got sold their shares ?

While finding the bottom, I oredi got drown in the bottomless sea of red !

Correct.

Covid-19 no scary but its effect on our mkt is deadly !

Our mkt now is a killer mkt n I am oredi half dead !

No smart investors are throwing away their gloves counters at chip prices !

With mkt at 10 yr low, I am sure mani of our comrades oredi said their

last good bye to us !

Bursa Malaysia plunges to 10-year low at close

Publish date: Mon, 16 Mar 2020, 5:44 PM

KUALA LUMPUR: Bursa Malaysia ended in the red on a 'Black Monday' due to persistent selling pressure, in line with bearish regional markets, with the benchmark index reaching its lowest level in a decade.

At the close, the FTSE Bursa Malaysia (FBM KLCI) erased 64.12 points or 4.76 per cent to 1,280.63.

Can hope n pray chase covid-19 away ?

Sell # 1st # when others are fearful !

Lockdown is no overkill but is the correct dosage to kill covid-19.

KUALA LUMPUR, March 16 — The severity of the current Covid-19 pandemic is worse than the 1997 Asian financial crisis, Tun Dr Mahathir Mohamad said today.

“Consumers are likely to focus only on food and health products, which may still attract some investments,” he added.

Comparatively, during the 2008 global financial crisis, the KLCI lost some 45% of market capitalisation from the peak in one year, before bottoming out.

In the 1997 Asian financial crisis, it took more than 18 months for the benchmark index to hit the bottom, shredding off 79% of market capitalisation in the process.

Over the last one year, the KLCI has lost 20% of its market capitalisation to its current level of 1,344.75 (see chart).

“With all the bad news coming out in one go, we think that the bottom for the FBM KLCI is around 1,300 points,” TA’s Kaladher said. “This presents a good buying opportunity. In fact our advice to clients is to start accumulating when the index hits 1,320.”

CGS-CIMB Research said it expects the market to remain volatile.

“In the current challenging time, we recommend investors to take shelter in sectors that offer defensive earnings — like rubber gloves (Top Glove Corp Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd), utilities (Tenaga Nasional Bhd, Malakoff Corp Bhd), telco (Digi.com Bhd), healthcare (IHH Healthcare Bhd, KPJ Healthcare Bhd), consumers (Fraser & Neave Holdings Bhd, brewers and tobacco), Astro Malaysia Holdings Bhd, MISC Bhd, Dialog Group Bhd and Petronas Dagangan Bhd— or high-dividend-yielders.

May all beings everywhere plagued with sufferings of body and mind quickly be freed from their illnesses.

I also half live only !

My other half oredi gone !

By the power of every moment of your goodness,

May all dangers be averted and all disease be gone.

May no obstacle come across your way.

May you enjoy fulfillment and long life.

Eat black seed n honey, cure everything.

Please try. Thanks.

Covid-19 attack n kill an Iranian Brigadier General !

Indeed, covid-19 is a global killer now !

Ah Jeep is fit n strong, can kahwin 3 lagi with no problem !

Mani stk guru advice us to invest long term but can we survive the one-two punch from the mkt caused oil crash n covid-19 ?

Agreed.

gloves are set to break historical high this year - this is a certainty only Many Fool keeps crying like small kid for missing the boat$$$.

Like covid-19, mkt crash also can injure n kill mani people !

I guess mkt crash is even more fatal than covid-19 !

Death caused by mkt crash is very torturing !

Who want free air ticket to Madrid ?

Our Finance Minister is great banker - not a politician.

mf is a Dr Doom ?

May all beings everywhere plagued with sufferings of body and mind quickly be freed from their illnesses.

Topglove ... strong buy

The number of car accidents no increase wildly like the covid-19 now ?

How to learn to live with covid when more people are dying from it ?

The coronavirus COVID-19 is affecting 146 countries and territories around the world and 1 international conveyance (the Diamond Princess cruise ship harbored in Yokohama, Japan).

The covid-19 oredi conquered 3/4 of our whole world !

What sub stage of the downtrend ?

What mkt stage are we in now, please ?