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- Gold futures contracts on Bursa Malaysia Derivatives are expected to trend higher next week as geopolitical unease in Eastern Europe continue to turn investors' interest to the precious metal as a safe haven asset, a dealer said.
- Low risk appetite amid weak regional sentiment, dented by the Ukraine referendum, China growth worries and commodity breakdown, are expected to dampen the performance of shares on Bursa Malaysia next week.
- The ringgit is likely to experience further weakness next week amid expectations of quiet Asian economies due to uncertainties in selected regional countries.
- The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts on Bursa Malaysia Derivatives are expected to be quiet next week in the absence of fresh directions, a dealer said.
- The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures contracts on Bursa Malaysia Derivatives are expected to continue to trade lower next week, tracking the bearish cash market's outlook.
BEIJING - China on Saturday demanded that Malaysia keep providing more thorough and accurate information about a Malaysia Airlines flight that was on its way to Beijing when it disappeared a week ago, after Malaysia said the plane was deliberately diverted.
Investigators believe someone aboard the airliner deliberately shut off its communications and tracking systems, turned the plane around and flew for nearly seven hours after it vanished, Prime Minister Najib Razak said earlier in the day.
Najib said analysis of the plane's last communication with satellites placed it in one of two corridors: a northern stretch from northern Thailand to the border of Kazakhstan and Turkmenistan, or a southern stretch from Indonesia to the southern Indian Ocean.
China's foreign ministry said it "paid very close attention"to the news. "We demand that the Malaysian side continue to provide to China more thorough, accurate information," the ministry said, adding that it was sending a technical team to Malaysia to help with the probe. "We will also get in touch with relevant countries and international organisations to understand, study and determine (what happened)." The ministry repeated a demand for Malaysia to step up its search, and asked it to involve more countries in the effort. "China will also promptly adjust its search deployments and ask countries which may be involved to provide assistance," it added.
Separately, China's defence ministry said that two warships which had been searching in the Gulf of Thailand were on their way to the Malacca Strait, one of the world's busiest waterways.
The fate of the Malaysian Airlines Boeing 777-200ER has been shrouded in mystery since it disappeared off Malaysia's east coast less than an hour into a March 8 scheduled flight from Kuala Lumpur to Beijing.
But investigators have increasingly focused on the possibility it was flown off-course by the pilot or co-pilot, or someone else on board with detailed knowledge of how to fly and navigate a large commercial aircraft.
China has repeatedly asked Malaysia for clear information, and to provide answers for the increasingly frantic family members of Chinese passengers aboard the aircraft.
Wen Wancheng, whose son was on the plane, said he felt no clearer about what had really happened. "They ought to be sharing information publicly and transparently with everyone in the world," he told reporters at a Beijing hotel where the relatives had gathered. "It's the responsibility of Malaysia and Malaysian Airlines to deal with the missing plane." Another family member, who declined to give his name, said he was glad at least of progress in the probe, and held out hope the passengers were still alive. "In the overall view of the situation, it's good news. This means that there's still hope that our relatives are alive," he told reporters. -Asiaone
Why is the government struggling to handle the MH370 missing jet calamity? COMMENT
MH 370Umno seems to have an ‘issue’ with learning from history. First, its politician-ministers have for over a week been befuddling everyone with details on the missing Malaysia Airlines’ Boeing 777 jet.
If being slammed by the international media like CNN for its inefficiency in tackling the disappearance of the MH370 plane was not bad enough, the Umno-dominated Malaysian government continued behaving in a sloppy manner.
This time, the Malaysian government despite being provided with the best know-how and by over a dozen countries, threw caution to the wind by turning to the ‘comforts’ provided for by a bomoh or shaman.
This despite Islam prohibiting black magic and regarding it as shirik or sin. Still, this did not stop Minister in the Prime Minister’s Department Jamil Khir Baharom who ironically is assigned to Islamic affairs from welcoming one such shaman on board to trace the missing MH370 flight which was originally destined for Beijing.
Jamil Khir had on Monday taken the liberty of saying:
“The government welcomes any help to trace missing Malaysia Airlines Flight MH370 including from “bomohs” (shamans) so long as their methods do not contravene Islam.
“We appreciate all help…but where it comes to mysticism, the methods used must conform to Islamic teachings.”
Jamil Khir was commenting on the case of Ibrahim Mat Zin, a well known local bomoh, who came to the KL International Airport on Monday, claiming to be invited by one of the country’s top leaders, to help locate the missing plane using spiritual methods.
After performing a prayer at KLIA’s entrance, Ibrahim said he thought the plane was still in the air or had crashed into the sea.
If Ibrahim’s prophecy is all that matters, why trouble the international experts who are working tirelessly to detect the missing plane?
Malaysia turns to shaman for help
While Jamil Khir clearly said the federal government was all for a shaman provided he did not deviate from Islamic teachings, his statement however was contradicted by his colleague, fellow minister in the Prime Minister’s Department, Shahidan Kassim who denied that the Najib-led government had ever turned to a bomoh to solve the mystery of the missing MH370.
“No, this is not a directive from the government. It is not likely that we would have sanctioned any move which was against Islamic practices,” Shahidan had said when asked to comment on Jamil Khir’s ‘aye’ to a shaman.
Shahidan added that allegations linking the bomoh, who is famous among VIPs, with Umno should not have come up in the first place.
Shahidan also said it was not necessary that a bomoh who reportedly wore a 1Malaysia badge as did Ibrahim was an Umno member and hired by the party.
So now it is a case of Jamil Khir versus Shahidan Kassim on the issue of ‘bomoh aid to find MH370 plane’.
Even at a time so grave and excruciatingly painful for the families and friends of those on board the missing jet, our politicians refuse to get their act in order and are playing their own ‘politics’.
Whether the government accepts or refutes, the truth is the episode surrounding the missing MAS plane has slapped the BN/Umno administration with a very costly lesson – ‘think first before speaking’.
For over a week, a lot of embarrassment has come Malaysia’s way no thanks to the inept performance of its government and relevant authorities in handling tragedy of the missing jet.
Third class mentality
When Umno politicians decided to take the easy way out by turning to a shaman or bomoh to help locate MH370 plane, it revealed a ‘plague’ eating away at Malaysia’s core, its ‘third class mentality’ notoriety, a ‘legacy’ of the country’s fourth and longest serving prime minister, Dr Mahathir Mohamad.
With experts doing all they can to detect the jet, is is perturbing as to how and why did Jamil Khir entertain the thought of a bomoh coming to the Malaysian government’s rescue?
Did it not bother the government that hunting for a bomoh’s help would anger both the worldwide community aiding it and the relatives and families of all those on board the ‘missing in action’ MH370?
Performing the solat hajat for the safety of the passengers and crew is much needed but manipulating ‘spiritual’ energy is definitely a ‘no no’.
And what makes Jamil Khir think that families and relatives of those on board the missing jet are comfortable with a bomoh’s abracadabras?
Why was Jamil Khir’s bomoh intention not debunked by premier Najib or politicians from the Barisan Nasional coalition?
Struck by a tragedy that continues to remain a mystery, the least politicians from the Umno/BN camp can do is to offer common sense suggestions instead of resorting to quick fixes.
The clock is ticking away and with it the chances of survival of everyone on board MH370 and yet ministers like Jamil Khir had the luxury of indulging in the antics of a bomoh?
Why is the government struggling to handle the MH370 missing jet calamity? Why is there the need to feign the ‘being in total control’ drama and end up misleading and confusing just about everyone connected to this mishap?
It has been over a week since the MH370 piloted by Zaharie Ahmad Shah and assisted by Fariq Abdul Hamid disappeared. And throughout the ordeal, the Malaysian government has been lambasted by the international media for its lousy handling of this mishap.
If that was not shameful enough, seeking the comfort of shamans has confirmed that Umno’s ‘third class mentality’ is here to stay.
It's OFFICIAL now! A MUST WATCH Interview from CNN with former Managing Director of the US National Transportation Safety Board ( NTSB) Peter Goelz admits that Malaysia's Officials are
"THE WORST HE'S EVER SEEN IN HIS EXPERIENCE MANAGING A SITUATION SUCH AS THIS LOST MH370 AIRCRAFT"
The aviation authority’s former managing director Peter Goelz in an interview on CNN said Malaysia, despite being a signatory to an international treaty on aviation, has not abided by the procedures outlined.
“This is the worst I’ve seen in recent times,” said Goelz, in a short excerpt of the interview published on CNN’s website today.
“There’s a reason for this. You know, anytime there’s an accident, an international one like this, there’s chaos during the first 24, 36 hours. That’s why there’s a treaty that everyone signs, the Malaysians have signed,” he was quoted saying, referring to the Convention on International Air Transportation, under the International Civil Aviation Organisation (ICAO).
The treaty, Goelz said, outlines the investigation process, the involvement of other related countries and dispersal of information, among others.
“The Americans are NOT being involved in the way in which they SHOULD as an accredited representative.
“They have the rights under the international treaty (but) they have not had the kind of access they should and that’s why the radar data could have been MIS-ANALYSED,” he said.
Our country's corrupted leaerships EGO is standing in the way in allowing REAL Professionals from handling the situation at hand, and its people's lives and family's at stake just to PROTECT their PRIDE and EGO.
ratna, ada jugak dengar berita tu sebelum keluar akhbar, sepatutnya co pilot orang lain, mamat tu hilang, nama mamat ini naik...market jatuh tidak ada kena mengena dengan internal factor tapi external factor...hehehe
CT kata dia play play, FT tak nampak batang hidung dah 2 3 hari, Hit hilang satelah kecewa saham beli tak naik, Hot membisu seribu bahasa, rikki ada timbul sekali sekala, tony dituduh kaki buli, fortunebullz dituduh tak sensible, Tessa bosan tunggu saham beli naik, Mike datang beri nasihat berguna, connie pulak tertanya apalah game CT main dihujung minggu, Ratna sentiasa risau dengan Pesawatku selain tu Bursa gainers, losers, unchanged, Mark masih menyelit kat Puncak forum, Firebird2 makan minum jalan-jalan hehehe untuk anda semua
Hepi yang macam Tessa tulis kat atas..hehehe Lama tak namapak awak, awak sentiasa sibuk dengan regain.... ini lagu untuk awak yang sentiasa rajin melayan tetamu yang datang
YS big hugs. My weekend so far great. I when to cyber jaya lunch, tea time at shah alam, now home charging my phone and watching tv..I saw amazing race all star...if I am not mistaken the sentence goes like this "welcome to kota kinabalu sabah malaysia borneo..hmmm
Wow! Stupid statement from Hishammuddin now trying to pinpoint the blame on the missing Pilot just because he's a strong PKR/Pakatan supporter and today he made another STUPID statement by saying that the CO-PILOT did not REQUEST to fly together with the Captain?
WHEN did Co-Pilots be able to simply REQUEST which Captains the to stick to in their Rosters??
Hey HISHAMMUDDIN you IDIOT...you can work for the SAME AIRLINE and even Cabin Crews whom were batchmates TRAINED at the Academy TOGETHER in the SAME CLASS also "RARELY" get the SAME flights or fly together...what more CO-Pilots and Captains as most Co-Pilots are still under observation and training by the captains to complete a certain amount of Flying Hours.
And already, UMNO Bloggers like Papa Gomo and other UMNO Trolls, Cybertroopers and Hard Core STUPID supporters are SLANDERING the missing MH370's Captain, simply for being a strong PKR supporter and DUMB enough...
...even TRYING to "LINK" the missing airline to 'ANWAR'???
To the UMNO Government..."EVERYTHING IS ANWAR'S FAULT"...
"Semua Salah Anwar!"???
Hey to the STUPID IDIOTS and my fellow extremely STUPID and DUMB Malays out there supporting UMNO/BN...Anwar is NOT in-charge of the Federal Government, nor is he in-charge of the Military which was 'supposed' to check out what they had on their Radar, and NEITHER is Anwar the one who has to answer and share information with the International Press and Media right now! IDIOTS & RETARDED UMNO supporters!
Slandering a man who isn't even around to defend himself!
Kuala Lumpur -- Ketua Pemuda Umno Malaysia, Khairy Jamaluddin di nasihatkan agar menarik kembali kenyataan yang di keluarkan sebelum ini. Menurut Raja Bomoh Sedunia Nujum VIP, Datuk Mahaguru Ibrahim Mat Zin hentikan perbalahan sesama sendiri, tambahan pula ketika musim pilihan raya.
"Ini ke kerja orang Umno (dan) orang Barisan (Nasional) ni. Saya sokong dia masa pilihan raya, (saya pesan) kamu orang-orang silat semua pangkah dan sokong Khairy. Sana orang-orang tua bukan suka dengan dia, dia kurang ajar, akal taruk mana cakap dengan dia" katanya dengan nada yang tegas ketika ditemui baru-baru ini.
Asian shares took refuge near one-month lows as Western countries issued fresh warnings of more sanctions on Moscow after Crimea voted overwhelmingly to break from Ukraine to join Russia, as expected - Reuters
As I watch Crimeans dancing with joy CNN live last night for voting referendum to join Russia and this morning on positive China Reforms, all the sudden last week problems become today market movers. This is all expected. And perhaps this week will be positive week. Hope you enjoy your gains in Encorp.
* Virtual credit card suspension. On 14 March, the People's Bank of China (PBOC) issued a notice ordering Alibaba and Tencent to suspend their virtual credit cards, QR code payments and other face-to-face mobile payment services on potential security concerns.
* Caps on money transfers to virtual accounts rumours. According to media reports, the PBOC is drafting a proposal to put caps on money transfers to virtual accounts like Alipay from bank accounts, ie CNY1,000 per transaction and CNY10,000 per year per individual.
* Tencent shuts down certain Wechat public accounts. Many of these accounts distribute political and legal news articles. We see this as the latest sign that China is stepping up its censorship of the Internet.
Risk Aversion Expected to Persist As Geopolitical Risk on Crimea Escalates; Yuan to Face Near Term Weakness on Widening Bands
Highlights
¨ US: FOMC, housing and jobless claims to dominate sentiment this week; UST relatively stable overnight
¨ UK: Minor speed bump on recovery as UK trade deficit widens in January
¨ Europe: German CPI rises within expectations; Crimea referendum saw 95% votes to join Russia; SPGBs outperform
¨ Japan: IP continued to expand in January; JPY gained on safe haven buying
¨ Singapore: Labour market to tighten further this yearas curbs on foreign policy commence; February retail sales remained robust; SGS curve bull steepened
¨ South Korea: Household debt unlikely to spiral into a large scale default; South Korea
and China to begin FTA discussions; KTBs gained on safe haven flows
¨ China: PBoC doubled USDCNY daily trading band to ±2%; near term CNY weakness
expected.
¨ Indonesia: Jokowi to run for President; broad gains across IndoGBs
¨ India: WPI eases, supporting RBI to maintain rates at next meeting (1 Apr); Short end GoISecs gained
Irony that only last week Ukraine and China problem expected to greatly affect markets today. However, bursa already up by 8 points. And both Ukraine and China become good news indeed.
China now allow married couple to have 2 children because of fast greying of its population, the ratio of old population has increased drastically in China hence cost of production increase and most foreign investors are going into Indonesia. The reason why Indonesia market has been so bullish lately. Do not be worry as Indonesia rise will counter China slow maturation. Expect bursa to go up another 20 points this week. Tomorrow market will be good as DJIA will closed 100 points. Happy trading.
Bursafuture sama2 kita berdoa moga esok banyak hijau, risau pulak aku tengok kaunter aku merah merah biji saga, macam Hot kata merah merah buah delima hehehe
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....
Posted by Fortunebull > 2013-12-03 20:12 | Report Abuse
I3investor most experienced investors, traders, punters gather to exchange their views on current stocks! Beware! Most of their views may not be suitable for those under 90s!