Posted by Keyman188 > 2020-03-17 22:04 | Report Abuse

Morgan Stanley, Goldman Sachs Declare Global Recession UnderwayBy 

(March 17, 2020, 5:24 PM GMT+8Updated on March 17, 2020, 9:13 PM GMT+8)

~Slump likely to be worse than 2001, though not as deep as 2009

~Risks include virus lingering and markets freezing up



Goldman Sachs Group Inc. and Morgan Stanleyeconomists joined the rush on Wall Street to declare the coronavirus has triggered a global recession, with the debate now focusing on how deep it will be and long it will last.

A day after President Donald Trump conceded the U.S. slump alone is set to be “a bad one,” economists threw away their forecasts that the world could avoid tumbling into recession for the first time since the financial crisis. Behind the rethink: The virus’s spread to Europe and the U.S. and new evidence that China -- the first to be hit by what is now a pandemic -- experienced a faster collapse in its economy than originally thought.

Morgan Stanley’s team led by Chetan Ahya said a worldwide recession is now its “base case,” with growth expected to fall to 0.9% this year. At Goldman Sachs, Jan Hatzius and colleagues predict a weakening of growth to 1.25%.

Such slumps would not be as painful as the 0.8% contraction of 2009, as measured by the International Monetary Fund, but they would be worse than those of 2001 and the early 1990s. Both Morgan Stanley and Goldman Sachs said while they anticipate a rebound in the second half, the risks remain of even deeper downturns.

The projections will apply further pressure on policy makers to do more to limit the health emergency and then provide enough stimulus to drive a rebound in demand once the virus is under control. Although the U.S. Federal Reserve and fellow central banks have been active in loosening monetary policy, most governments have been slow in responding and are only now crafting fiscal packages that may still fall short of pacifying worried investors.

“While the policy response will provide downside protection, the underlying damage from both Covid-19’s impact and tighter financial conditions will deliver a material shock to the global economy,” Morgan Stanley’s economists said.

The outlook could darken even further if the virus lasts longer than anticipated or wields greater economic pain -- given factories, schools, restaurants and shops are closing around the world. A freezing up of markets or a continued sluggishness by governments to act are also regarded as threats.


##https://www.bloomberg.com/news/articles/2020-03-17/morgan-stanley-economists-say-global-recession-now-base-case?srnd=premium-asia

Posted by Keyman188 > 2020-03-17 23:23 | Report Abuse

Oil prices could hit teens in coming weeks as markets crater over coronavirus and price war

(Published Tue, Mar 17 20207:36 AM EDTUpdated 3 hours ago)

~ Oil could fall below $20 a barrel and “stock markets could easily shed another 30-40% of their values,” one analyst said.

~ The biggest shocks will likely come after April 1, when Saudi Arabia and Russia ramp up their crude production after a previously-agreed OPEC+ deal expires.

~ “The last time there was a global surplus of this magnitude was never,” Jim Burkhard, head of oil markets at IHS Markit, wrote Monday.

An end to the oil price plunge is nowhere in sight, energy experts say, as futures of international benchmark Brent crude fell below $30 a barrel Monday for the first time since 2016. That’s a stunning 54% drop year-to-date.

“Oil could easily be in the teens at the bottom. Could even be low teens at the lowest,” Abhi Rajendran, director of research at Energy Intelligence, told CNBC on Monday.

“The main driver is for, a week or two, we could have global market oversupply of over 10 million barrels per day (bpd). Which is insane and unprecedented.”

Energy stocks have been hammered as demand plummets amid the escalating coronavirus crisis, but moves by state actors to unleash a flood of supply are driving them decisively into the ground. Saudi Arabia has slashed its oil prices to buyers and will be maxing out its production, as will Russia, as the two major producers throw themselves into an all-out price war to fight for greater market share.

“The last time there was a global surplus of this magnitude was never,” Jim Burkhard, vice president and head of oil markets at IHS Markit, wrote in a note Monday, predicting an oil demand contraction of up to 10 million bpd for March and April.

“Prior to this, the largest six-month global surplus this century was 360 million barrels. What is coming will be twice that or more.”

The biggest shocks will likely come after April 1, when a previously-agreed production cut deal between OPEC and non-OPEC states including Russia, meant to boost prices, expires. Saudi Arabia has announced plans to increase its daily production to 12.3 million bpd in April, compared to roughly 9.7 million bpd in February.

Russia’s energy minister said last week that Russia can increase its production by 200,000 to 300,000 bpd in the short term, and 500,000 bpd in the longer term.

“In the coming weeks, with no Saudi-Russia discourse, oil is likely (to be) in the teens,” Rajendran reiterated. “With that sort of dislocation and barrage of overseas supply, WTI-Brent could be equal or flip negative for a brief period,” he added, highlighting U.S. oil benchmark West Texas Intermediate, which typically trades at between $5 to $10 per barrel below Brent.

Brent on Tuesday morning was trading at $30.07 in London, while WTI was at $29.11.

“Demand dislocation is unprecedented,” he said. “Everyone is shutting down, especially in the U.S.”

We haven’t seen the bottom

Major international and U.S. airlines have cut their flights by at least 70%, and businesses across several countries and states have been ordered to close their doors. Millions of people around the world are going into self-isolation or full-on lockdown in an attempt to stem the spread of COVID-19, which has killed more than 6,600 people and sickened over 168,000 in more than 140 countries.

Other analysts agree that despite the already spectacular plunge for crude, we likely haven’t yet seen the bottom.

Speaking to CNBC’s Dan Murphy about whether oil has bottomed out, Kang Wu, head of analytics for S&P Global Platts, replied that “the overall supply demand doesn’t suggest that it will stop there, because we still haven’t seen the worst yet. April will be the official time that without the production cut agreement, OPEC members — everyone, Russia included, OPEC plus — are free to produce more. Volumes will hit the market.”

The price crash hurts oil-exporting countries and is a particular blow for U.S. shale producers who are already deeply in debt — a blow that could prove fatal for some. Market analysts are predicting defaults on billions of dollars worth of debt, and a major risk for up to a million people employed directly and indirectly by the shale industry.

amas Varga, an oil analyst at London-based PVM Oil Associates, echoed the deeper price drop call.

“If we were forced to provide a prediction, we would expect oil to break below the $30/bbl level,” he wrote in an email note. “Given the resilience of COVID-19 and the stubbornness of Russia and Saudi Arabia to give concessions such a move is likely to happen. It could actually get worse.”

“Under the current circumstances, oil could fall even below $20/bbl and stock markets could easily shed another 30-40% of their values.”


##https://www.cnbc.com/2020/03/17/oil-prices-could-hit-the-teens-in-coming-weeks-as-markets-crater-over-coronavirus-and-price-war.html

Posted by Keyman188 > 2020-03-17 23:59 | Report Abuse

Goldman slashes oil forecast, sees US crude at $22 per barrel
(Published Tue, Mar 17 202011:32 AM EDTUpdated Moments Ago)

~ Goldman Sachs slashed its oil forecast on Tuesday as the COVID-19 outbreak has led to sharp demand declines.

~ Goldman now sees U.S. West Texas Intermediate crude averaging $22 per barrel in the second quarter with international benchmark Brent crude at $20 per barrel. This is Goldman’s second cut to price forecasts in less than two weeks.

~ “Demand losses across the complex are now unprecedented,” said Jeffrey Currie, Goldman’s global head of commodities research.

Goldman Sachs slashed its oil forecast on Tuesday as the COVID-19 outbreak continues to pressure demand.

“Demand losses across the complex are now unprecedented,” Goldman’s global head of commodities research Jeffrey Currie wrote in a note to clients Tuesday. The firm said that oil use has fallen by eight million barrels per day as the coronavirus has led to a near standstill in travel, among other things.

Goldman now sees U.S. West Texas Intermediate crude averaging $22 per barrel in the second quarter with international benchmark Brent crude at $20 per barrel. This is Goldman’s second cut to price forecasts in less than two weeks.

The firm previously lowered its target for WTI to $29 and Brent to $30 after the breakdown in OPEC talks earlier in March.

WTI settled at $28.70 on Monday, so the new target implies an additional 23% downside ahead. This would be on top of WTI’s 53% drop this year. Goldman’s Brent target is 33% below the contract’s Monday settle of $30.05.

The drop in demand comes as powerhouse producers Saudi Arabia and Russia get set to ramp up production beginning April 1, which is when the OPEC+ production cuts currently in place expire.

The firm said that the sudden drop-off in demand, which began in January when the virus started hitting Chinese fuel demand, aided the price war that’s broken out between OPEC and its allies, which includes Russia.

“While it is tempting to view the COVID-19 oil demand shock and the oil ‘price war’ as separate events, we like to emphasize that OPEC+ pursuing a market share strategy is simply a second-order effect of the virus made possible by extremely weak demand, pushing the market far down the global supply curve,” Currie said.

Goldman said that the virus will likely lead to far worse outcomes than previously thought — even below estimates from just a month ago — for both the commodities and equity market from just last month.

On Sunday, Jan Hatzius, Goldman’s chief economist, lowered his first-quarter GDP growth forecast to zero from 0.7%. The economist also sees a 5% contraction in the second quarter, followed by a sharp snapback for the remainder of the year.

But unlike equities, which the firm believes will swiftly rebound, oil will likely stay lower for longer.

“While financial markets are forward-looking and are likely to rebound once the contagion stabilizes, commodity markets are spot assets and must clear the surpluses developing today from weak demand and rising supply,” Currie said.

Longer term, however, Goldman believes lower prices will lead to a beneficial re-balancing of the market.

“The industry is likely to emerge in a much more healthy position with many of the zombie companies that were a dead weight on returns removed,” the firm said.

##https://www.cnbc.com/2020/03/17/goldman-slashes-oil-forecast-sees-us-crude-at-22.html

Posted by apolloang > 2020-03-18 00:06 | Report Abuse

dow now up over 700pts

Posted by apolloang > 2020-03-18 00:16 | Report Abuse

dow now up 1100pts,tomoro green green grass of home....hahaha.then tomoro nite dow down again 2000 pts?

Posted by Keyman188 > 2020-03-18 09:47 | Report Abuse

Wooo....

KLCI really fantastic....

"Empty" candlestick.........

Trapping ppl this morning again....

Prepare more worst to come...........

Posted by Keyman188 > 2020-03-18 14:54 | Report Abuse

Are you ready..........!!!

Posted by Keyman188 > 2020-03-19 10:33 | Report Abuse

Everyday down...down...down...

Meltdown until father mother can't recognized....

Posted by Datuk Seri Rick Walker > 2020-03-19 10:34 | Report Abuse

Best time to short! total no brainer shorting!

Posted by Keyman188 > 2020-03-19 14:14 | Report Abuse

Malaysia May Deploy Army to Uphold Lockdown as Only 60% Comply

(March 19, 2020, 1:22 PM GMT+8)

Malaysia will resort to deploying its army if the public continues to flout the two-week lockdown that the government imposed to contain the coronavirus pandemic.

“If there is no choice, and compliance is still at 60%-70%, I believe that it’s highly likely the army will be deployed,” Ismail Sabri Yaakob, senior minister for defense, told reporters after a cabinet meeting on the Restriction of Movement Order on Thursday.

The country banned citizens from traveling overseas while shutting schools, shops and many public services until March 31 in a bid to fight the pandemic. Prime Minister Muhyiddin Yassin urged people to stay home and warned the government may need to extend the period of lockdown if the measure fails to contain the virus during these two weeks.

Public compliance was only 60% on Wednesday, when the order became effective, prompting authorities to set up roadblocks to advise drivers to stay home, Ismail said. Police will switch to sterner action if Malaysians continue to flout the restrictions, he added.

Police are also tracking down the remaining 4,000 participants of a religious event that ran from Feb. 27 to March 1, he said. More than half of the country’s 790 confirmed cases, the most in Southeast Asia, were linked to the event, which saw about 16,000 people gather at a mosque near Kuala Lumpur.


##https://www.bloomberg.com/news/articles/2020-03-19/malaysia-may-deploy-army-to-uphold-lockdown-as-only-60-comply

Posted by Keyman188 > 2020-03-19 17:30 | Report Abuse

Asset managers object to market suspension, say doing so will only worsen volatility (March 19, 2020 16:59 pm +08)

KUALA LUMPUR (March 19): The Malaysian Association of Asset Managers (MAAM) said today that it is opposed to calls for the suspension of shares trading.

The association, which represents most of the country's large asset management companies in an industry with total assets under management of about RM800 billion, said any move to suspend trading will only worsen market volatility.

"We believe in the fair and orderly functioning of the business change without interference, which can be construed as a form of capital control in such a tense global situation," it said in a statement.

"We believe any move to suspend trading does not address the underlying issues facing the country and the stock market, and will exacerbate unnecessary volatility and feed on current uncertainty," MAAM added.

The association drew examples from the past to argue its point, like how the Hong Kong Stock Exchange suspended shares trading at the height of the Asian Financial Crisis in 1997, which then saw the market slump 33% upon reopening four days later.

It also cited the example of the Philippines Stock Exchange, which sank 24% on opening today following a one-day suspension yesterday.

"Hence, MAAM strongly opposes the motion by certain industry players to suspend trading in Bursa Malaysia," it said.

MAAM's statement came following reports that certain quarters are calling for the suspension of Bursa Malaysia in view of the current volatility.

The Securities Commission (SC) and Bursa Malaysia, however, jointly issued a statement this afternoon to say that the trading of shares will continue as usual.

In the statement, the regulators said they will “maintain continuous trading and market operation to facilitate investors to manage their risks and opportunities during this period”.


##https://www.theedgemarkets.com/article/asset-managers-object-market-suspension-say-doing-so-will-only-worsen-volatility

Posted by Keyman188 > 2020-03-19 17:37 | Report Abuse

This Idiot Dr. really no brain thinking...

Perhaps market every dropping until father mother can't recognized him because maybe heavy loss on Bursa.....

Since you are main person to care the whole market, think 1st before voice out....

If really implemented, KLCI definitely sure below 1000 pt after opening trading....

More tragedy worst.......

Posted by ahbah > 2020-03-19 17:38 | Report Abuse

KUALA LUMPUR (March 19): Bank Negara Malaysia (BNM) has announced a 100-basis-point cut in the statutory reserve ratio (SRR) from 3% to 2%, effective March 20.

Can the above cut bring back sunny days back to our Bursa ?

Posted by Keyman188 > 2020-03-19 17:44 | Report Abuse

Hard to say nowadays...

Too pessimistic selling off everyday ....

You see global market already down almost 30% ~ 45% still bleeding everyday...

Even though Fed, ECB, all countries' central bank come out rescue financial market also seem like not sufficient to diagnosis this unprecedented health crisis....

Unless suddenly got vaccine to cue this virus then different story...

If not mistaken, this year alone, all "White Knight" already flooded liquidity market by $ 6.5 trillion....

Posted by Keyman188 > 2020-03-19 17:48 | Report Abuse

Honest speaking...

I never ever seen this type of meltdown for my past 27 years in the market.....

Perhaps I still young...perhaps I only small potato....perhaps I never seen "Big Snake Pissing"....

Posted by ahbah > 2020-03-19 19:15 | Report Abuse

J.P. Morgan economists forecast the U.S. economy to shrink 14% in the next quarter, and the Chinese economy to drop more than 40% in the current one, one of the most dire calls yet as to the scale of the fallout.

https://www.theedgemarkets.com/article/cash-king-emergency-stimulus-fails-stop-market-panic-0

Posted by ahbah > 2020-03-19 19:20 | Report Abuse

“I’d say the market is uninvestable at this point,” said Daniel Cuthbertson, managing director at Value Point Asset Management in Sydney. “Until we get a containment of global contractions, the market is just going to be directionless.”

Posted by ahbah > 2020-03-19 19:29 | Report Abuse

(March 19): Foreign investors dumped Asian bonds in February on mounting fears over the economic damage done by the coronavirus pandemic on regional countries.

Foreigners sold a net US$3.88 billion worth of regional bonds last month, their largest net selling since April 2018, according to data from regional banks and bond market associations in Indonesia, Malaysia, Thailand, South Korea and India.

Posted by Keyman188 > 2020-03-19 20:28 | Report Abuse

recession is already here: ‘Jobs will be lost, wealth will be destroyed’

(PUBLISHED THU, MAR 19 20207:46 AM EDTUPDATED 7 MIN AGO)


~ Bank of America said the U.S. is now in a recession.

~ “We are officially declaring that the economy has fallen into a recession ... joining the rest of the world, and it is a deep plunge,” the firm said in a note to clients Thursday.

~ “Jobs will be lost, wealth will be destroyed and confidence depressed,” the firm added.


##https://www.cnbc.com/2020/03/19/bank-of-america-says-the-recession-is-already-here-jobs-will-be-lost-wealth-will-be-destroyed.html

Posted by ahbah > 2020-03-19 21:13 | Report Abuse

As at 6pm, the ringgit was quoted at 4.4080/4120 compared with yesterday’s close of 4.3737/3844.

The ringgit has reached its lowest level since April 2017, and the local note is expected to decline even further as oil prices continue to remain under US$30 (RM132) per barrel, global equities continue to plunge and emerging market currencies remain under pressure due to falling demand.

Posted by Keyman188 > 2020-03-20 23:47 | Report Abuse

12 years after Lehman, European banks face a new credit crisis

(PUBLISHED FRI, MAR 20 20209:36 AM EDT)


~ The European banking index is down by more than 70% since 2008.

~ One of the main legacy issues from the crisis is the level of bad loans.

~ Deutsche Bank said Friday that the coronavirus outbreak is likely to hurt its financial targets for the year.


European banks are under intense pressure as the coronavirus halts all major economies, at a time when these institutions were still struggling with the legacy issues of the 2008 financial crash. 

The region’s lenders have undergone a massive transformation since 2008 by increasing capital positions and complying with tougher regulations. They have, nonetheless, struggled to return to their pre-crisis market levels. The European banking index was still down by more than 50% from March 2008 to the start of this year. Virus-fueled selling in global markets means that the same index is now down 70% from March 2008.

"European banks remain vulnerable and fragile from the financial and debt crises and the coronavirus crisis delivers a fresh hit to the financial sector, compounding investor uncertainty,” Athanasia Kokkinogeni, Europe senior analyst at the research firm DuckerFrontier, told CNBC Thursday.

One of the main legacy issues from the crisis is the level of bad loans — which includes loans where the borrower is in default. The latest figures from the European Banking Authority (EBA) show that as of June of 2019, the weighted average ratio of non-performing loans stood at 3%, in comparison with 6% in 2015.

However, the coronavirus outbreak is expected to exacerbate that level of bad loans in banks’ balance sheets, given that many small and medium-sized businesses have been forced to close and will struggle to repay their debts.

“The banking sector seems to be better equipped to deal with shocks than back in 2008 if we look at capital ratios,” Maartje Wijffelaars, economist at Rabobank, told CNBC via email.

“That said, in most euro zone member states, non-performing loan ratios are still higher than back in 2008, even though they have come down substantially since their peak,” she added.


##https://www.cnbc.com/2020/03/20/coronavirus-hits-european-banks-as-they-still-face-post-crisis-issues.html

Posted by Keyman188 > 2020-03-21 11:17 | Report Abuse

Lai...lai...lai...

Don't talk so much....

Waiting long que....


1200 lvl...

1150 lvl...

1100 lvl...

1060 lvl...

950 lvl...

900 lvl...

800 lvl...

Posted by Keyman188 > 2020-03-21 11:38 | Report Abuse

Covid-19 outbreak: How bad can it get for the economy?

(theedgemarkets.com / March 21, 2020 10:45 am +08)

KUALA LUMPUR (March 21): What had started as a viral flu outbreak has now turned into a global pandemic. The Covid-19 coronavirus outbreak has put most countries around the world on lockdown, and has crippled economic activity across the globe.

Close to 250,000 people have been infected across 181 countries thus far, and with more than 10,000 deaths reported. Already, there have been reports of potential bankruptcies as a result of the global lockdowns, and the International Labour Organization estimates that almost 25 million jobs could be lost worldwide as a result of Covid-19.

In Malaysia alone, more than 1,000 people have been infected by Covid-19 as at the time of writing, with three fatalities reported. The growing number of cases in Malaysia resulted in the government imposing a two-week Movement Control Order (MCO) nationwide that started on Wednesday.

Meanwhile, the benchmark FBM KLCI dropped below the 1,300 mark for the first time in a decade on Monday. Year to date, the index has lost more than 300 points, or 30% year-to-date to close at 1,219.72 points last Thursday.

A tumble in crude oil prices, with benchmark Brent crude plunging 60% year-to-date to trade at US$26 per barrel drove the ringgit to a four-year low of 4.42 to the dollar.

So just how much worse can it get? The Edge spoke to economists on whether they see an impending recession -- one just as bad as the 1997/98 Asian Financial Crisis and the 2008/2009 Global Financial Crisis, or worse.

In our accompanying stories, we take a look at how the outbreak has impacted manufacturing supply chains, as well the small-to-medium enterprises (SME) and participants of the gig economy.


##https://www.theedgemarkets.com/article/covid19-outbreak-how-bad-can-it-get-economy

Posted by tien171 > 2020-03-21 13:13 | Report Abuse

RAM: Malaysian bond yields spiked in March following heavy offloading by foreign investors

Yasmin Syazwina/theedgemarkets.com
March 20, 2020 17:27 pm +08

KUALA LUMPUR (March 20): The yields of 10-year Malaysia Government Securities spiked to 3.58% on Thursday, from 2.84% at end-February, according to RAM Rating Services Bhd (RAM), as investors flee to safe-haven assets on fears of a global recession, even as central banks continue to cut rates and ease monetary policy.

"The move to safety so far this month, follows heavy offloading by foreign investors in February that was triggered by the unbridled spread of Covid-19 throughout the world and the political upheaval in the country.

"A staggering RM8.1 bil of net outflows was seen in February. In terms of supply, issuance of MGS/GII (Malaysian Government Securities/Government Investment Issues) and corporate bonds remained robust, with RM12.0 billion and RM10.7 billion, respectively, in February," RAM said in a statement.

Nevertheless, the current spike in MGS yields is seen as a knee-jerk reaction and yields are likely to retreat on account of further global monetary policy easing, including another potential rate cut by BNM in coming months, RAM said.

Like other central banks across the world, Bank Negara Malaysia has moved to ease its monetary policy, amid persistent coronavirus-led headwinds that are roiling markets everywhere.

Yesterday, it lowered the statutory reserve requirement ratio to 2% from 3%, to release more liquidity into the banking system, after making two overnight policy rate cuts, totaling 50 basis points in the last two months to 2.75%.

Posted by KAQ4468 > 2020-03-21 14:49 | Report Abuse

Below 1000 points Bursa

Posted by AIntelligence > 2020-03-21 14:57 | Report Abuse

I think 800 pts, blue chips not drop enough, 3rd liners could be at bottom already.

Posted by Keyman188 > 2020-03-21 15:03 | Report Abuse

KLCI lowest for past history :-

801 (Oct'08)

267 (Aug'98)

Posted by Keyman188 > 2020-03-21 15:07 | Report Abuse

KLCI lowest for past history :-

801 (Oct'08)

267 (Aug'98)


Now 2020, so KLCI ????


Honest speaking lahh....

Very high possibility not below 1000 pt lvl for this century....

Posted by Stncwsss > 2020-03-21 15:09 | Report Abuse

I expect 500

Posted by ahbah > 2020-03-21 15:13 | Report Abuse

U all oreadi clear your portfolio to kosong in order protect our hard

earn moni from covid-19's attack ?

Posted by Keyman188 > 2020-03-21 15:47 | Report Abuse

Fund allocation...

35% of investment fund - during range 1200 ~ 1300

35% of investment fund - during range 1050 ~ 1200

30% of investment fund - during below 1050...............


Example :-

Assumption investment fund : $ 200,000

During 1200 ~ 1300 lvl, intend to purchase 5 Co. (35% of total investmet funds allocation)

Co.A @ 2.00 = allocation of $ 18,500 = 9,200 units

Co.B @ 1.70 = allocation of $ 15,500 = 9,100 units

Co.C @ 1.50 = allocation of $ 14,000 = 9,300 units

Co.D @ 1.30 = allocation of $ 12,000 = 9,200 units

Co.E @ 1.10 = allocation of $ 10,000 = 9,000 units


If index further decelerated to 1050 ~ 1200 lvl, then another 35% of total investment funds allocation

Co.A @ 1.50 = allocation of $ 19,000 = 12,600 units

Co.B @ 1.30 = allocation of $ 16,500 = 12,700 units

Co.C @ 1.10 = allocation of $ 14,000 = 12,700 units

Co.D @ 0.90 = allocation of $ 11,500 = 12,700 units

Co.E @ 0.70 = allocation of $ 9,000 = 12,800 units


If index further decelerated below 1050, then balance 30% of total investment funds allocation

Co.A @ 1.10 = allocation of $ 19,000 = 17,200 units

Co.B @ 0.90 = allocation of $ 15,500 = 17,200 units

Co.C @ 0.70 = allocation of $ 12,000 = 17,100 units

Co.D @ 0.50 = allocation of $ 8,500 = 17,000 units

Co.E @ 0.30 = allocation of $ 5,000 = 16,600 units


## So total share holding & average price for each company :-

Co.A = $ 56,220 / 39,000 units = $ 1.4415

Co.B = $ 47,460 / 39,000 units = $ 1.2169

Co.C = $ 39,890 / 39,100 units = $ 1.0202

Co.D = $ 31,890 / 38,900 units = $ 0.8198

Co.E = $ 23,840 / 38,400 units = $ 0.6208


%% At the end, the final average price of each company almost lower than the price during 1050 ~ 1200 index level

Posted by moven00 > 2020-03-21 16:06 | Report Abuse

Turun lah, kasi dia Turun. Bagus bagus teruskan...leburkan.

Posted by Keyman188 > 2020-03-22 09:14 | Report Abuse

Coronavirus live updates: FDA OKs ‘emergency use’ test, global cases top 300,000 (PUBLISHED SAT, MAR 21 20209:10 AM EDTUPDATED 3 HOURS AGO)

~ The coronavirus has infected more than 303,180 and killed at least 12,944 worldwide, according to data from Johns Hopkins University.

This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This live blog will be updated throughout the day as the news breaks.

Global cases: More than 303,180
Global deaths: At least 12,944
U.S. cases: At least 24,148
U.S. deaths: At least 285
The data above is from Johns Hopkins University.

6:00 pm: Cases top 300,000 worldwide as US becomes one of worst hit countries
The number of people who have tested positive for the deadly coronavirus, or COVID-19, has topped 300,000 as the pandemic continues to spread around the world, with the situation in the U.S., Italy and Spain deteriorating even as the pandemic has stabilized in China, where the virus first emerged.

At least 303,180 people have tested positive for the virus worldwide as of Saturday at 5:13 pm ET, according to data from Johns Hopkins University. The number of cases in the U.S. has surged to at least 24,148, making it one of the worst hit countries in the world. Only China, Italy and Spain are harder hit than the U.S. - Spencer Kimball, Emma Newburger


##https://www.cnbc.com/2020/03/21/coronavirus-live-updates-us-hospitals-seek-100-billion-in-aid.html

Posted by Keyman188 > 2020-03-22 09:25 | Report Abuse

Malaysia Growth Seen as Low as 2% on ‘Triple Whammy’ of Troubles
(March 22, 2020, 8:00 AM GMT+8)

Malaysia’s economy is set to grow at its slowest pace since the 2009 financial crisis as it struggles with a trio of troubles: coronavirus, oil-price crash and political upheaval.

Analysts from Fitch Ratings to United Overseas Bank Ltd. now expect Malaysia’s economy to grow about 2% this year. That compares with the government’s estimate that gross domestic product will expand 3.6%-4%, which already accounts for the virus’s impact. The central bank is set to release its annual report on the economy Wednesday, where it’s expected to revise its outlook.

Malaysia is grappling with the most cases of Covid-19, the disease caused by the coronavirus, in Southeast Asia. That prompted the government to ban overseas travel and close shops and schools from March 18-31, with a warning that the lockdown could be extended. An abrupt change in government last month and an ongoing price war in the oil market have compounded troubles for Malaysia.

“Malaysia is facing a triple whammy of political, oil price and coronavirus shocks,” said Thomas Rookmaaker, director of Asia-Pacific Sovereigns at Fitch Ratings.

CORPORATE IMPACT OF MALAYSIA LOCKDOWN:

~ Airlines: AirAsia Group Bhd., Malaysia Airlines Bhd. cancel thousands of flights, offer unpaid leave to staff

~ Banks: Malayan Banking Bhd., CIMB Group Holdings Bhd. shares trade at multi-year lows

~ Leisure: Genting Malaysia Bhd. injects $40 million to U.S. unit for debt refinancing


Policy makers have unveiled a raft of measures to bolster the economy. On Monday, Prime Minister Muhyiddin Yassin added cash handouts and electricity discounts to a 20 billion ringgit ($4.6 billion) package announced by his predecessor, while Bank Negara Malaysia cut the Statutory Reserve Ratio March 19 as part of moves to release 30 billion ringgit of liquidity into the banking system.

The central bank has cut its policy rate to the lowest in a decade, most recently lowering rates by 25 basis points to 2.50% on March 3. The bank is due to meet again on rates May 5.

The moves “won’t help the economy in the sense of getting people back dining and shopping, but will ease pressure on the banking system, which is a good thing,” said Stephen Innes, chief market strategist at AxiCorp Ltd..


##https://www.bloomberg.com/news/articles/2020-03-22/malaysia-growth-seen-as-low-as-2-on-triple-whammy-of-troubles?srnd=premium-asia

Posted by Keyman188 > 2020-03-23 00:22 | Report Abuse

New York state has more coronavirus cases than France or South Korea as infections soar to 15,168

(PUBLISHED SUN, MAR 22 202011:42 AM EDTUPDATED MOMENTS AGO)

~ New York state now has more coronavirus cases than France or South Korea.

~ The number of confirmed infections soared to 15,168, according to new data released by Gov. Andrew Cuomo.

~ “New York is testing more people than any state in the country and, per capita, more than any country in the globe,” Cuomo said, adding that the state has tested 61,000 people.


New York state now has more coronavirus cases than France or South Korea as the number of confirmed infections soared to 15,168, according to new data released by Gov. Andrew Cuomo on Sunday.

The outbreak across the state is the worst in the United States. New York now has more COVID-19 cases than several countries struggling to manage their own caseloads, including France, South Korea, Switzerland, and the U.K., according to data compiled by Johns Hopkins University. Within the U.S., Washington state has the next highest number of cases at 1,647 followed by California at 1,518, according to a chart Cuomo presented at a press conference in Albany.

“New York is testing more people than any state in the country and, per capita, more than any country in the globe,” Cuomo said, adding that the state has tested 61,000 people. Roughly 15,000 of those tests are new, identifying 4,800 new cases in the last day, he said.

Cuomo said he’s asked the federal government to nationalize the purchase of medical equipment and has signed off on several locations to build temporary hospitals to treat coronavirus patients.

Cuomo said the U.S. Army Corps of Engineers will build temporary hospitals in Stony Brook, Westbury, Westchester, New York, and the Jacob K. Javits Convention Center in New York City, which will contain four federal hospitals with 250 beds each.

New York state is also running a clinical trial beginning Tuesday of a treatment regimen of hydroxychloroquine and azithromycin, two drugs that doctors in Africa and elsewhere say they’ve seen good results in fighting the virus.

Cuomo said the federal government needs to nationalize the purchase of needed medical supplies, adding that the shortage of personal protective gear like masks and life-saving equipment like respirators is leading to price gouging. Masks that used to cost 85 cents are now $7, “why because I’m competing against other states,” he said.

“Currently when states are doing it, we are competing against other states. In some cases, we’re savaging other states,” Cuomo said. “This is just an impossible situation to manage, if we don’t get the equipment, we could lose lives that we could otherwise save if we had the equipment.”

New York City is the new epicenter of the COVID-19 outbreak in the U.S., Mayor Bill de Blasio said Friday.


##https://www.cnbc.com/2020/03/22/new-york-state-has-more-coronavirus-cases-than-france-or-south-korea-as-infections-soar-to-15168.html


*** Very high possibility, coming week, US market (DJIA) will definitely plummeted to the range of 15,000 ~ 16,000


Tragedy...Tragedy...Tragedy...

Posted by Keyman188 > 2020-03-23 07:31 | Report Abuse

Coronavirus stimulus bill fails in key Senate procedural vote
(PUBLISHED SUN, MAR 22 20204:08 PM EDTUPDATED 18 MIN AGO)

~ A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening.

~ The stalemate came hours after Democratic leaders warned that the bill was not to their liking. And stock futures cratered as the two parties failed to agree on the terms of the package.

~ Still, President Donald Trump expressed optimism that lawmakers would eventually reach a deal. “I think you’ll get there,” Trump told reporters at the coronavirus task force press briefing shortly after the vote became final.


A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote Sunday evening.

The stalemate came hours after Democratic leaders warned that the bill was not to their liking because they said it did too much to bail out companies and not enough to help workers. Stock futures cratered as the two parties failed to agree on the terms of the package.

Still, President Donald Trump expressed optimism that lawmakers would eventually reach a deal. “I think you’ll get there,” Trump told reporters at the coronavirus task force press briefing shortly after the vote became final.

Efforts to forge a deal and pass the bill took on added urgency as several members of Congress, including GOP Sen. Rand Paul, tested positive for the coronavirus. Other Republican senators who had been in contact with Paul, including Mitt Romney of Utah, quarantined as a precaution.

The key Senate vote, originally scheduled for 3 p.m. ET Sunday, was moved 6 p.m.

The measure, at least in its current form, looked like it was heading for demise earlier Sunday as Democratic leaders aired their concerns with it.

“From my standpoint, we’re apart,” House Speaker Pelosi, D-Calif., told reporters earlier Sunday.

“Leader McConnell had to postpone his 3 p.m. cloture vote on the motion to proceed because, thanks to Leader Chuck Schumer and Senate Democrats, he did not have the 60 votes required,” Pelosi said in a statement Sunday.

Congressional aides said that pressure to come to a deal quickly could force the two parties to come to a resolution sooner rather than later. Yet as of Sunday evening, it remained unclear whether a deal was achievable.

Senate Republicans last week rolled out a roughly $1 trillion proposal after working closely with the administration, in a bid to slow the potentially catastrophic impact of the coronavirus on the economy. More than 26,000 have tested positive for the illness in the United States, a number that is expected to surge as more tests are distributed. The bill included small business loans, direct payments for individuals and billions in aid for industries like airlines whose businesses have been hit hard by the virus and efforts to stop its spread.

Larry Kudlow, the president’s top economic advisor, said Saturday that the bill could end up pumping $2 trillion into the economy through government spending and Federal Reserve action.

Senate Republicans and Democrats worked all weekend on a revised bill, working towards to goal of a formal vote on Monday. But by Sunday, there were still disagreements, with Democrats arguing the bill shortchanges workers.

“I oppose this bill as it currently stands and am urging Republicans to return to the negotiating table so we can reach an agreement that does much more to support the workers, families, and communities on the front lines of this pandemic,” said Sen. Patty Murray, D-Wash.

The proposed bill now sets aside an up to $500 billion fund to support “severely distressed business.” That includes $58 billion for passenger and cargo airlines and $17 billion for businesses critical to maintaining national security, according to a draft bill obtained by CNBC.

A previous draft bill allocated $150 billion for distressed businesses, in addition to $58 billion for airlines and cargo carriers.

While the new proposed bill adds certain restrictions that Democrats had pushed for – like a ban on stock buybacks while a loan is outstanding and maintaining payroll “to the extent practicable” – those concessions were not enough. Trump reiterated Sunday evening that he did not want stock buybacks permitted in the measure.

“In the midst of an unprecedented national crisis, Republicans can’t seriously expect us to tell people in our communities who are suffering that we shortchanged hospitals, students, workers, and small businesses but gave big corporations hundreds of billions of dollars in a secretive slush fund,” said Murray, whose home state is one of the hardest-hit by the disease’s outbreak.


##https://www.cnbc.com/2020/03/22/coronavirus-stimulus-congress-struggles-to-reach-a-deal.html


*** More worse if the stimulus aid failed to pass through

Expected : DJIA - 15,000 ~ 16,000 this few days

Posted by Keyman188 > 2020-03-23 08:08 | Report Abuse

U.S. Stock Futures Hit Limit Down; Oil Tumbles: Markets Wrap

(March 23, 2020, 4:46 AM GMT+8 Updated on March 23, 2020, 7:28 AM GMT+8)

U.S. equity futures tumbled at the start of trading Monday after a surge in the global death toll from the coronavirus and a failure as yet by Congress to agree on an aid plan. Crude oil slumped.


S&P 500 futures dropped 5% and hit limit down after the index lost more than 4% on Friday. Australian equities tumbled more than 8% and Asian contracts pointed lower. The dollar climbed against major peers. New Zealand’s dollar fell with the country’s bond yields after its central bank joined other countries in saying it will start buying bonds to stimulate the economy. As investors attempt to assess the severity of the upcoming downturn, Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the virus.

Markets are “pricing a global recession, which we expect; stay defensive,” Goldman Sachs Group Inc. strategists Kamakshya Trivedi and Zach Pandl, wrote in a note Sunday. “The uncertainties around the depth and duration of the hit to the global economy remain high and the momentum in our own, and other, economic forecasts continues to be sharply negative with downside risks.”

The 10-year Treasury yield fell back below 1% last week and the dollar steadied after vaulting more than 8% in the previous eight sessions as the Fed coordinated action with global central banks to beef up dollar liquidity swap line arrangements.

Investors are grappling with a faster pace of coronavirus infections against flickers of optimism that have followed extraordinary government actions to protect the global economy, from plans for stimulus and cash handouts to nationalizing companies.

The New Zealand central bank said it will buy up to NZ$30 billion ($17 billion) of government bonds in the secondary market over the next 12 months. In the U.S., Democrats blocked the U.S. Senate from advancing a massive aid package as House Speaker Nancy Pelosi said the measure fell short of her goals.


##https://www.bloomberg.com/news/articles/2020-03-22/dollar-dips-in-early-trading-kiwi-declines-on-qe-markets-wrap?srnd=premium-asia

Posted by Keyman188 > 2020-03-23 17:16 | Report Abuse

Despite this morning KLCI plummeted by 61 pt...

Despite whole day KLCI plummeted below 1260......

But....

Volume suddenly reduced to 2.8 billion share changed hand....

If compare last week, if this kind of plummeting incident, average share volume about 4 ~ 5 billion changed hand.....

Posted by Keyman188 > 2020-03-23 17:19 | Report Abuse

Seem like good sight strong support @ 1220 pt....

Posted by Keyman188 > 2020-03-23 17:36 | Report Abuse

Stocks have ‘at least 10% to 15%’ further to fall: Scaramucci

(PUBLISHED MON, MAR 23 20204:58 AM EDT)


~ The U.S. is in a “protracted bear market” and stock prices could fall further, according to Anthony Scaramucci, an investor and former White House communications director.

~ In the short term, however, he said he is optimistic because of the expectation that Congress will approve economic stimulus for the country.

~ He also said U.S. President Donald Trump could emerge from this crisis “very strong” if he executes on the stimulus. “I think it’s still a toss-up, going into November,” he added.


The U.S. is in a “protracted bear market” and stock prices could fall further, according to Anthony Scaramucci, an investor and former White House communications director.

“I actually think we’re now in a secular bear market,” he told CNBC’s “Capital Connection” on Monday. “As the economic data comes out, we’re going to be in a fairly steep recession.”

His comments come as America and the world grapple with the fallout from the ongoing coronavirus pandemic. Global markets have been volatile and under pressure as cases continue to rise past 294,000. The World Health Organization has also reported nearly 13,000 deaths.

The Dow Jones Industrial Average is down 32.81% from the beginning of the year, while the S&P 500 index has fallen 28.66% over the same period.

“We’re in a protracted bear market,” said Scaramucci, who is founder and managing partner at investing firm SkyBridge. “I think there’s at least 10% to 15% more to go in equity prices here.”

In the short term, however, he said he is optimistic because of the expectation that Congress will approve economic stimulus for the country.

On Sunday evening, a huge funding package failed to get enough votes in a key Senate procedural vote.

“I predict that they will get a deal done. They know how sensitive this is for markets,” Scaramucci said. “It may come before the (market) opening, but if it doesn’t, my guess is it will come after tomorrow’s close.”

He said the stimulus will send a message to U.S. citizens that the government is there for them “in a time of crisis like this.”

“I’ve told people, this is so much worse than the global financial crisis. It’s literally 9/11 plus the global financial crisis,” he added.


##https://www.cnbc.com/2020/03/23/stocks-have-at-least-10percent-to-15percent-further-to-fall-scaramucci.html

Posted by ahbah > 2020-03-23 17:44 | Report Abuse

“We’re in a protracted bear market,”

I am in "half living mode". The other half got burn by the mkt !

Posted by ahbah > 2020-03-23 17:55 | Report Abuse

By NST Business - March 23, 2020 @ 12:40pm

KUALA LUMPUR: A sharp contraction of the global economy, at least in the second quarter, appears imminent, Moody’s Investors Service said.

Uncertainty will remain for at least several months as to how long it will take to contain the spread of the virus and how businesses and households will cope with the resulting financial losses.

*** A sharp contraction of the global economy ***

Posted by ahbah > 2020-03-23 18:00 | Report Abuse

“First, let’s acknowledge that none of us can predict when the market will bottom,” said Brian Levitt, global market strategist at Invesco, in a Friday note.

Posted by ahbah > 2020-03-23 18:05 | Report Abuse

“Honestly, we think a more reasonable target for this global recession that is only beginning is at least a 74% decline from February’s highs to mark the bottom. There were just too many excesses in this one. The purging... has only just begun.”

Posted by Jengacam > 2020-03-23 19:45 | Report Abuse

900 la

Posted by ahbah > 2020-03-23 22:57 | Report Abuse

In our call of the day, Morgan Stanley said U.S. GDP growth would plunge 30% in the second quarter, hitting a 74-year low. The forecast is worse than that of Goldman Sachs, which predicted a 24% drop, but more optimistic than Federal Reserve Bank of St. Louis President James Bullard’s 50% drop forecast.

Posted by ahbah > 2020-03-23 22:59 | Report Abuse

The U.S. unemployment rate could hit 30% in the coming months due to the coronavirus crisis, according to Federal Reserve Bank of St. Louis President James Bullard.

Posted by ahbah > 2020-03-24 17:25 | Report Abuse

The flash eurozone composite purchasing managers index in March plummeted to a reading of 31.4 from 51.6 in February, which is a record low since the series began in July 1998. The services PMI plunged to 28.4 from 52.6 in February.

Any reading below 50 indicates contracting conditions. "The March PMI is indicative of GDP slumping at a quarterly rate of around 2%, and clearly there's scope for the downturn to intensify further as even more draconian policies to deal with the virus are potentially implemented in coming months," said Chris Williamson, chief business economist at IHS Markit.

Posted by ahbah > 2020-03-25 15:45 | Report Abuse

Most adults would receive direct payments of $1,200, while children would see $500 checks. Hospitals would receive some $150 billion under the deal and small businesses would get $367 billion in aid.

The deal came as President Donald Trump freshly warned of the impact on U.S. economy from the coronavirus

Durian runtoh from The Firer !

Posted by apolloang > 2020-03-25 15:47 | Report Abuse

directors,politicians salary reduce 80% to donate to the poor better