Investors were nervous after U.S. shares posted their biggest weekly fall in 2-1/2-years last week on losses led by energy sector, and as they expect the U.S. Federal Reserve to hint this week it is getting closer to raising interest rates. U.S. crude futures (CLc1) fell more than 2.5 percent at one point to as low as $56.25 per barrel (CLc1) before rebounding. By late morning, they were up 1.3 percent. The world's energy watchdog late last week forecast even lower prices next year on weaker demand and increased supply, sparking a fresh waving of selling. Oil's relentless slide pounded stocks and currencies exposed to energy exports on Friday, dousing the appetite for riskier assets. Energy-exporting emerging market currencies were strained, with the Brazilian currency hitting a 9-1/2-year low (BRL=) and the Russian rouble hitting an all-time low (RUBUTSTN=MCX). The Indonesian rupiah (IDR=D2) fell to its lowest since August 1998.
RUSSIAN RATE-HIKE STUNNER Ruble drop unprecedented, oil to $30 Dennis Gartman of the Gartman Letter discusses how the Bank of Russia's raising of interest rates to 17 percent will impact the ruble, gold and oil. Russia just raised interest rates to 17% from 10.5%.According to a statement from Russia's central bank, Russia has taken its key interest rate to 17% from 10.5% in a stunning decision made after the collapse of the ruble on Monday.The Bank of Russia's statement said the decision was driven by the need to limit significant devaluation in the ruble and inflation risks. The announcement was made at 1 a.m. local time in Moscow.Last Thursday, Russia hiked rates to 10.5% from 8% in an effort to combat inflation, which rose 9.1% year on year in November.This surprise announcement from Russia comes after the ruble got absolutely crushed on Monday, losing more than 10% of its value against the US dollar, as the ruble fell to below 64 against the dollar on Monday; earlier this year, one dollar bought about 35 rubles. Russia's Micex stock exchange also fell by about 10% on Monday as the financial situation in that country continues to deteriorate amid the declining price of oil and the devaluation of its currency. And earlier this month, Russia's economy ministry projected GDP would contract by 0.8% in 2015. In other words, Russia is falling into recession.
Oil slides as Saudi Naimi tells market to forget OPEC cuts NEW YORK (Reuters) - Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price. After a weekend of comments from several Gulf OPEC members reiterating their intent not to intervene in oil markets despite oil prices that have halved since June, Ali al-Naimi told the Middle East Economic Survey it was "not in the interest of OPEC producers to cut their production, whatever the price is" - his starkest comments yet. U.S. crude's front-month contract (CLc1) settled down $1.87, or 3.3 percent, at $55.26 a barrel. It fell $2 earlier to a session low at $55.13. On Friday, U.S. crude finished up nearly 5 percent, the largest gain since August 2012, as some traders took profits on short positions after prices hit five-year lows. Brent (LCOc1) closed down $1.27, or 2 percent, at $60.11 a barrel after a session bottom of $59.84. Naimi also said the Saudis might boost output instead to grow their market share and that oil "may not" trade at $100 again. "The best thing for everybody is to let the most efficient producers produce," he told a conference in Abu Dhabi at the weekend. "The Saudis seem to be continuing with their game plan to shock prices lower by sticking it to the market that they will put more oil out if they have more customers for whatever price they are comfortable in selling," said John Kilduff, partner at New York energy hedge fund Again Capital. "It seems like an all-out strategy on their part to finish all the weak players in the market who can't survive at sub-$60 or even sub-$50 oil."
Oil prices fall more than $1, dropping to five-year lows NEW YORK (Reuters) - Crude oil prices on tumbled on Monday, with global grades settling down more than $1 a barrel after an early rally fizzled and prices fell to their lowest levels since May 2009. News of further damage Libya's oil infrastructure prompted the early rally that was quickly erased as pervasive fears of global oversupply trumped concerns about output curtailment from the OPEC producer. The number of rigs drilling for oil in the United States dipped in the latest week, data from oil services firm Baker Hughes Inc showed. But the count for U.S. oil rigs remained up from a year ago, indicating production would remain robust.
NEW YORK (Reuters) - Oil prices fell on Wednesday to a 5-1/2-year low and ended with their second-biggest annual decline ever, down by half since June under pressure from a global glut of crude. Just before the close, Brent and U.S. oil futures bounced off session lows. But prices still settled at their lowest since May 2009. Weekly U.S. data showed crude oil stockpiles fell more than expected, but inventories at the oil hub at Cushing, Oklahoma, grew, keeping prices depressed. Oil prices came under further pressure from a survey showing China's factory sector shrank in December for the first time in seven months. This should hurt energy demand in the world's No. 2 consumer.
Foreign funds sold RM535.2 million Malaysian equity last week KUALA LUMPUR (Jan 12): Investors classified as “foreigners” sold RM587.2 million of Malaysian equity in the first six trading days of 2015 on Bursa Malaysia, according to MIDF Research. In his weekly Fund Flow report today, MIDF Research head Zulkifli Hamzah said that after six trading days into 2015, the writing on the wall is not so auspicious for Malaysia, although he added that he would not interprete it as being ominous. He said that last week, foreign investors sold local equity in the open market (i.e excluding off-market deals) amounting to RM535.2 million net. He eplained that in the first six days, the net outflow was M587.2 million, higher than the corresponding period in 2014 of RM497.2 million.
My stocks nexgram and cme have moved steadily and will surge further you mark my words.As for Glotec it has too many snakes like you so it will not move until you all leave.
I thought last time REACH-WA were 22~23 sen, got wahaha126 STRONGLY SHOUT "BUY!! ada ng"
Recall wahaha126 is the most evil agent who induce innocent buyers of CSL since it were 80+sen
Now the stipiak idi-ots and stupiak ayams still average down REACH-WA from 23 sen to 9 sen???
But I thoought Fam Jeniifer did not ask any one to collect REACH-WA, don't blame her -lah,
BLAME THE EVIL AGENT ---- WAHAHA126 ... he is now counting $$$, at the cost of many innocent investors, partially including AYAM TUA ( bought CSL @ high price after DITIPU WAHAHA126
(Bloomberg) -- Oil pared gains after a government report showed that U.S. crude inventories and production climbed to the highest levels in more than three decades. Crude supplies increased 8.17 million barrels to 466.7 million last week, the most in records compiled since August 1982 by the Energy Information Administration. A gain of 4.75 million was the median of eight analyst estimates in a Bloomberg survey. Futures advanced earlier as a falling dollar bolstered the appeal of commodities to investors.
Yellen in SF, oil trade gets messy & biotechs hit a bump: What to watch The sudden bump higher in crude-oil prices (CLK15.NYM) in response to air strikes in Yemen and generally growing strike in the Middle East gave only the mildest lift yesterday to energy stocks. This is partly because the sector had outperformed nicely the day before in a weak tape. But it also suggests that stock investors surveying this sector refuse to extrapolate a geopolitically driven price hike as a real recovery trend for oil. The Market Vectors Oil Services ETF (OIH) is just about the rawest nerve in the stock market when it comes to responding to signals about crude oil prospects. It has lost a third of its value over six months, but zooming in more recently it has stabilized. The oil-services trade remains a messy one. Everyone well knows the abundance of oil hunting for storage, the soft demand picture in the emerging world, the fragile finances of many leveraged North American producers, the steady stream of secondary stock offerings from cash-strapped energy companies and the headwind of a stronger dollar. And yet the stocks are trying to find their footing. They’ve incorrectly front-run a sustainable recovery in crude prices before in recent months. At some point they’ll probably get it right.
Warrant ini expired lagi 8 thn (sekiranya dah beli oil platform). Saham ini mothersahre dalam keadaan sideway dan warrant pula downtrend. Ada berberapa faktor warrant ini jatuh adalah disebabkan harga minyak mentah dunia yang jatuh dan mothershare condition to buy oil platform dlm masa dua tahun. Dengan keadaan minyak dunia yg jatuh kemungkinan besar syk ini tak akan membuat keputusan utk membeli oil platform. Ini bermakna duit shareholder akan dipulangkan dan yg masih memegang warrant have nothing. So I have sold my warrant to cut loss.
I think the IPO at the wrong timing at the peak of oil price / during start downtrend, if the co buy onshore ok, but offshore cost of production very high and impossible to generate hansome profit at the current oil price.
I'm very confident ....0.07 and below is the best price to collect...based on my experience ...you will see the price will return back to above 0.15 by July when the crude touch 0.74.....in hand Reach have more than 10 quality investment offered, believe me if u trust and just ignore if you don't.....see u in END OF JULY...
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....
seanteoh
417 posts
Posted by seanteoh > 2014-12-15 14:19 | Report Abuse
Wait till next week, should be drop further to 0.05 soon..........