Market turbulence
Markets look set to remain turbulent in the coming week with investors focused on the Fed and earnings.

In a continuation of the tech selloff that has pushed the Nasdaq into correction territory, Wall Street’s main indexes closed sharply lower on Friday. The S&P 500 and the tech-heavy Nasdaq posted their largest weekly percentage declines since the start of the pandemic in March 2020.

Tech companies largely benefitted during the pandemic and saw their shares soar over the last two years.

But tech and growth stocks have been hard hit since the start of 2022 by a rapid rise in Treasury yields on the back of expectations that the Fed will hike interest rates aggressively to combat high inflation.

Higher rates can hurt tech companies with high valuations based on the prospect of future profits.

Market turbulence
Markets look set to remain turbulent in the coming week with investors focused on the Fed and earnings.

In a continuation of the tech selloff that has pushed the Nasdaq into correction territory, Wall Street’s main indexes closed sharply lower on Friday. The S&P 500 and the tech-heavy Nasdaq posted their largest weekly percentage declines since the start of the pandemic in March 2020.

Tech companies largely benefitted during the pandemic and saw their shares soar over the last two years.

But tech and growth stocks have been hard hit since the start of 2022 by a rapid rise in Treasury yields on the back of expectations that the Fed will hike interest rates aggressively to combat high inflation.

Higher rates can hurt tech companies with high valuations based on the prospect of future profits.

Pfizer Inc chief executive Albert Bourla said on Saturday that an annual Covid-19 vaccine would be preferable to more frequent booster shots in fighting the coronavirus pandemic.

Pfizer-BioNtech’s Covid-19 vaccine has shown to be effective against severe disease and death caused by the heavily-mutated Omicron variant but less effective in preventing transmission.

With cases soaring, some countries have expanded Covid-19 vaccine booster programmes or shortened the gap between shots as governments scramble to shore up protection.

In an interview with Israel’s N12 News, Bourla was asked whether he sees booster shots being administered every four to five months on a regular basis.

“This will not be a good scenario. What I’m hoping (is) that we will have a vaccine that you will have to do once a year,” Bourla said.

“Once a year – it is easier to convince people to do it. It is easier for people to remember.

“So from a public health perspective, it is an ideal situation. We are looking to see if we can create a vaccine that covers Omicron and doesn’t forget the other variants and that could be a solution,” Bourla said.

Bourla has said Pfizer could be ready to file for approval for a redesigned vaccine to fight Omicron, and mass produce it, as soon as March.

Citing three studies, the US Centers for Disease Control and Prevention said on Friday that a third dose of an mRNA vaccine is key to fighting Omicron, providing 90% protection against hospitalisation.

A preliminary study published by Israel’s Sheba Medical Center on Monday found that a fourth shot increases antibodies to even higher levels than the third but was likely not enough to fend off Omicron. Nonetheless, a second booster was still advised for risk groups, Sheba said.

Pfizer Inc chief executive Albert Bourla said on Saturday that an annual Covid-19 vaccine would be preferable to more frequent booster shots in fighting the coronavirus pandemic.

Pfizer-BioNtech’s Covid-19 vaccine has shown to be effective against severe disease and death caused by the heavily-mutated Omicron variant but less effective in preventing transmission.

With cases soaring, some countries have expanded Covid-19 vaccine booster programmes or shortened the gap between shots as governments scramble to shore up protection.

In an interview with Israel’s N12 News, Bourla was asked whether he sees booster shots being administered every four to five months on a regular basis.

“This will not be a good scenario. What I’m hoping (is) that we will have a vaccine that you will have to do once a year,” Bourla said.

“Once a year – it is easier to convince people to do it. It is easier for people to remember.

“So from a public health perspective, it is an ideal situation. We are looking to see if we can create a vaccine that covers Omicron and doesn’t forget the other variants and that could be a solution,” Bourla said.

Bourla has said Pfizer could be ready to file for approval for a redesigned vaccine to fight Omicron, and mass produce it, as soon as March.

Citing three studies, the US Centers for Disease Control and Prevention said on Friday that a third dose of an mRNA vaccine is key to fighting Omicron, providing 90% protection against hospitalisation.

A preliminary study published by Israel’s Sheba Medical Center on Monday found that a fourth shot increases antibodies to even higher levels than the third but was likely not enough to fend off Omicron. Nonetheless, a second booster was still advised for risk groups, Sheba said.

Week ahead calendar
Monday
Earnings: IBM, Zions Bancorp, Halliburton, Royal Phillips, Steel Dynamics

Tuesday
Federal Reserve Open Market Committee meeting begins

Earnings: Microsoft, Johnson and Johnson, American Express, Verizon, 3M, General Electric, Texas Instruments, Raytheon Technologies

Wednesday
Earnings: Intel, Boeing, AT&T, Tesla, Whirlpool, General Dynamics, Anthem, Abbott Labs, , Nasdaq, Levi Strauss, Knight-Swift Transportation, Samsung Electronics, ServiceNow, Xilinx, Seagate Technology

2:30 p.m. Briefing with Fed Chairman Ben Bernanke

Market turbulence is likely to continue in the week ahead as the Federal Reserve meets and the biggest of big tech —Apple and Microsoft — report earnings.

Amazon stock just had its worst week since 2018

Charts suggest the S&P 500 may continue struggle through early February, says Jim Cramer

KUALA LUMPUR 22 Jan- Pengamal media mula berkampung di Institut Jantung Negara (IJN) pada Sabtu bagi mengikuti perkembangan semasa bekas Perdana Menteri, Tun Dr Mahathir Mohamad.
Ia selepas wujud dakwaan mengatakan Ahli Parlimen Langkawi itu berada di Unit Rawatan Koronari (CCU) dan keadaan kesihatan beliau tidak begitu baik.

Dalam pada itu, IJN memaklumkan satu kenyataan media akan dikeluarkan dalam masa terdekat berhubung keadaan Dr Mahathir.

JOHOR BARU, Jan 22 — The highly expected dissolution of the Johor state assembly may happen as early as this weekend after Mentri Besar Datuk Hasni Mohammad is expected to present a document to Johor Ruler Sultan Ibrahim Sultan Iskandar later today.

JOHOR BARU, Jan 22 — The highly expected dissolution of the Johor state assembly may happen as early as this weekend after Mentri Besar Datuk Hasni Mohammad is expected to present a document to Johor Ruler Sultan Ibrahim Sultan Iskandar later today.

Bitcoin...non syariah

Ok la...rehatkan fikiran esok cuti pergi pantai ambil angin laut

Next week tinggal underwear

Tak ada angpow

Sambal bilis lagi

Buang masa

Tak mau la

Morning.. minum coffee dulu

Morning...minum coffee dulu

EMPLOYEES PROVIDENT FUND BOARD disposed 59,600 shares on 14-Jan-2022.
EMPLOYEES PROVIDENT FUND BOARD disposed 797,900 shares on 13-Jan-2022.
EMPLOYEES PROVIDENT FUND BOARD disposed 45,100 shares on 12-Jan-2022.

boleh standby

Roti telor

Cabutttttttttttttttttttt

Cabuttt la..apa tunggu

Sudah untung..cabut la 0.675 tq

Sell all again 0.28 for lunch sotong bakar..haha

Breakfast roti telor

Itu la jangan suka sangat....

Limit up wayang saja

Sabar..haha

Sabar... semangat sangat pagi ni..haha

Sudah lupa pasal santan..haha

Morning...minum coffee 434 dulu.

Tutup buku

Going down 0.015

Sambal bilis

Breakfast roti telor

Cabut la..apa tunggu

Sold all 0.28 for breakfast..haha

Dow Jones Industrial Average (DJI)
35,353.04 (-558.77)

Dow Jones Industrial Average (DJI)
35,353.04 (-558.77)

Dow Jones Industrial Average (DJI)
35,353.04 (-558.77)

Ikan bilis is always bilis

KUALA LUMPUR: SMTrack Bhd is leading a consortium of six listed firms to invest in a 5G venture via 5G Infratech Solutions Sdn Bhd.

It is learnt that the consortium will provide funding for the planned capital-intensive 5G venture.

Besides SMTrack, other consortium parrtners are Country Heights Holdings Bhd, Jiankun International Bhd, Sersol Bhd, Techna-X Bhd and MQ Technology Bhd.

The companies are scheduled to sign a heads of agreement on the venture later this morning.

Through the government plan on the national 5G rollout, the consortium - via 5G Infratech - was looking at a joint venture with a strategic target company in the telecommunications sector, sources said.

The target company, which is mainly involved in the construction and engineering of telecommunication infrastructure including 5G rollout, is expected to formalise the paperwork with the consortium at about 10.30am today.

They will jointly collaborate and fulfill the government's aspiration to drive the development and roll out of 5G infrastructure network.

"The consortium will be either holding a substantial stake in the target company or provide initial and subsequent funding in rolling out of 5G network," a source said.

Meanwhile, last Thursday, Datuk Seri Tan Choon Hwa bought an extra five million shares in SMTrack from an open market, reaffirming him as as substantial shareholder of the company with 35.5 million shares or 5.5 per cent of its issued shares.

Another director, Datuk Wira Justin Lim Hwa Tat, was expected to follow suit early next week according to a person close to the deal.

The buying is necessary to regain control over voting rights after their shareholdings were diluted to below five per cent pursuant to an enlargement of SMTrack's share capital arising from the conversion of redeemable convertible notes.

On Jan 6, Tan surfaced as the radio frequency identification solutions company's new substantial shareholder, after raising his stake to 5.4 per cent from 3.16 per cent previously.

The next day, Lim - who is managing director of Sersol - emerged as a new substantial shareholder after acquiring 29 million shares or 5.14 per cent stake via an open market.

On the same day, Tan and Lim were appointed as directors of SMTrack.

SMTrack, which was the second most actively traded stock on Friday, saw 169.2 million shares traded.

It closed unchanged at 29 sen after staging a sharp rebound towards the closing.

SMTrack has risen from 16 sen when Tan Sri Lee Kim Yew, who is the founder and executive chairman of Country Heights group, emerged as a substantial shareholder on Dec 29 2021, after acquiring 28.5 million shares or a 5.05 per cent stake on the open market.

© New Straits Times Press (M) Bhd

KUALA LUMPUR: Foreign investor turned net buyer in the local equity market for the week ended January 14 this year, with an inflow amounting to RM397.85 million, MIDF Research said.

The firm said overall, for the second week of 2022, local institutions and foreign investors finished strong as net buyers at RM132.79 million and RM397.85 million respectively.

MIDF Research said foreigners were net sellers on everyday of the week.

The largest foreign inflow was recorded on Tuesday at RM171.58 million and the smallest inflow was on Friday at only RM0.53 million.

"For last week, local institutions were active sellers. The largest net outflow was on Tuesday and smallest on Monday, to the tune of RM167.65 million and RM42.23 million respectively.

"It was opposite for retailers. The market saw retailers as net buyers except on Tuesday (RM3.92 million)," MIDF Research said.

The largest net buying was recorded on Friday at RM113.64 million while the smallest net buying was on Wednesday at -RM3.60 million.

Meanwhile, retailers were net sellers at RM530.64 million.

In terms of participation the retail investors, local institutions and the foreign investors recorded a weekly movement of 18.39 per cent, 41.52 per cent and 39.54 per cent respectively in average daily trade value.

© New Straits Times Press (M) Bhd

Sudah game over

Sudah habis wayang

TP 0.015

Breakfast telor setengah masak dua biji