Uncle Koon, I agree with you.... Patience is Key in Investment. There are just too many species of sharks in the KLSE. You are mostly right but sometimes can be wrong. Price action dynamics can sometimes misled the share movements vs performance of a company. Maybe, you can have a look at High Tech or Chips stocks and give me your trending views. Fundamentally, you are quite forward looking ....
Economy 22:00, 29-Jul-2021 China raises export tariffs on steel products for industrial upgrade CGTN China will adjust export tariffs on some steel products as part of efforts to push upgrading and transformation of the industry.
Starting August 1, China will raise export tariffs on ferrochrome and high-purity pig iron to 40 percent and 20 percent, respectively, according to a circular issued by the Customs Tariff Commission of the State Council.
Previous rates on the product exports stood at 20 percent and 15 percent, respectively, since May 1.
The decision is aimed at pushing industrial upgrading and high-quality development in the steel sector, the circular said.
Also on Thursday, the Ministry of Finance and the State Taxation Administration jointly announced that China will scrap export tax rebates on 23 types of steel products from August 1.
The specific execution time will depend on the export dates indicated in the declaration form for export goods, according to an online statement by the ministry.
The moves come as China is intensifying efforts to transform the energy-consuming steel industry for greener and high-quality growth. The country plans to cut crude steel output to ensure it falls year on year in 2021.
In 2020, crude steel output rose by 5.2 percent year on year to exceed 1.05 billion tonnes, according to the China Iron and Steel Association.
Making steel and other energy-consuming industries greener is an important part of China's broader efforts to cut pollution and tackle climate change.
China previously announced that it would strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.
KYY said above "I have posted a few similar articles to advise investors to cash out of the stock market. Unfortunately, Mr Ooi Teck Bee disagreed with my opinion. Only time will tell who is right and who is wrong. The truth will prevail eventually. In any case, it is wiser to wait."
Very wise Mr Koon, no need to argue. Everyone is entitled to his/her opinion.Today Hiaptek is trading at 50.5 sen. let see what is the price in 31.7.2022.
Look like China really determined to control its polution (which is worsen year by year). Few days : controlling coal usage and steel industry, EV, green power etc.
kyy is always one step behind everything. The stock market is about the future not the present. His investments in glove stocks at its very peak is an excellent example
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2959 views | 2 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Abidjan
136 posts
Posted by Abidjan > 2021-07-29 11:06 | Report Abuse
Uncle Koon, I agree with you.... Patience is Key in Investment.
There are just too many species of sharks in the KLSE.
You are mostly right but sometimes can be wrong. Price action dynamics can sometimes misled the share movements vs performance of a company.
Maybe, you can have a look at High Tech or Chips stocks and give me your trending views. Fundamentally, you are quite forward looking ....