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

Stocks can return to records early next year if the US can curb coronavirus spread, says JPMorgan (PUBLISHED SAT, MAR 21 20209:12 AM EDTUPDATED SAT, MAR 21 202012:48 PM EDT)


~ Dubravko Lakos-Bujas, chief U.S. equity strategist at JPMorgan, expects the S&P 500 to reach 3,400 in early 2021.

~ That would top an all-time high of 3,386 set on Feb. 19. It is also 47% higher than the broad market average’s Friday close of 2,304.92.

~ “Acknowledging that equity markets globally are now down 30-50% from their recent highs ... we see an asymmetrical return profile for equities with upside significantly higher than downside over the next year,” he says.


The S&P 500 could return to record highs by early next year if U.S. efforts to contain the coronavirus outbreak work and the government can quickly move forward with fiscal stimulus to cushion the impending economic blow, JPMorgan’s chief U.S. equity strategist said Friday.

Dubravko Lakos-Bujas wrote in a note to clients he expects the S&P 500 to reach 3,400 in early 2021. That would top an all-time high of 3,386 set on Feb. 19. It is also 47% higher than the broad market average’s Friday close of 2,304.92.

The S&P 500 entered a bear market on March 12 — bringing the longest-ever bull expansion to an abrupt end — as the fast spread of the coronavirus and resulting shutdowns soured economic and profit growth forecasts around the world. However, after the relentless selling wave, Lakos-Bujas now sees a chance for stocks to return to record levels.

“Acknowledging that equity markets globally are now down 30-50% from their recent highs, and that investor positioning has become increasingly favorable, we see an asymmetrical return profile for equities with upside significantly higher than downside over the next year,” Lakos-Bujas wrote.

For his scenario to play out, though, the U.S. government must pass a “comprehensive fiscal package promptly.”

The White House is currently seeking more than $1 trillion in government stimulus to soften the virus’ economic hit. Treasury Secretary Steven Mnuchin said Thursday the administration wants to send direct payments to U.S. kids and adults as part of that package. Those payments would total about $500 billion. Several industry groups — particularly airlines — are also seeking relief money.

“Aggressive fiscal policy needs to be undertaken immediately,” Lakos-Bujas said, noting that failure to pass such measures “would likely result in a broader capitulation of equities including the heavyweight momentum stocks.”

The other side of the equation is curbing the coronavirus spread in the U.S. More than 15,000 cases have been confirmed in the U.S. along with over 200 deaths, according to data from Johns Hopkins University.

Authorities in the U.S. have imposed measures to contain the number of cases and “flatten the curve,” which would keep the country’s health care system from being overrun by the outbreak.

“The spread of the outbreak in the US will still remain a key concern,” the strategist said. “At the same time, there are early signs of progress being made of potential anti-viral treatment, though the outcome is still uncertain.”


##https://www.cnbc.com/2020/03/21/stocks-can-return-to-records-early-next-year-if-the-us-can-curb-coronavirus-spread-says-jpmorgan.html

Posted by mf > 2020-03-22 09:28 | Report Abuse

COVID-19: Bekas penjaga gol Sabah tenat
Astro Arena | Diterbitkan pada Mac 22, 2020 08:52 MYT

Posted by KAQ4468 > 2020-03-22 17:04 | Report Abuse

1100 soon

Posted by Keyman188 > 2020-03-23 15:04 | Report Abuse

Wooo.........

Unexpected slowly slowly recovered back from -61 to -30.....

Posted by tien171 > 2020-03-23 15:07 | Report Abuse

seem we not learn the lesson , more will get burn again .
SG drop nearly 8 % today .

Posted by Keyman188 > 2020-03-23 15:09 | Report Abuse

No wonder recovered back lahhh.....

Lead by PBB, HLB, PChem.....

Posted by laychee > 2020-03-23 15:14 | Report Abuse

All recovering as US Dow Futures are recovering.

Malaysians now very free. Can follow Dow Futures so closely.

Posted by Keyman188 > 2020-03-23 17:20 | 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.....

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

Posted by moneypedia > 2020-03-23 17:24 | Report Abuse

ala caya gah ilu maciam

Posted by KAQ4468 > 2020-03-23 17:25 | Report Abuse

aiyaaaaa....mau caya pun serupa tak caya


chaiya chaiya

Posted by tien171 > 2020-03-23 17:25 | Report Abuse

next/soon will be a financial crisis and another selldown . every where asking for bailout .

Posted by KAQ4468 > 2020-03-23 17:26 | Report Abuse

dia main lambung dadu kot

Posted by TrippleZ > 2020-03-23 17:27 | Report Abuse

US first senator comfirmed positive. White House is going down.

Posted by KAQ4468 > 2020-03-23 17:27 | Report Abuse

horeyyyyyyyyyyyyyyyyyyy



kasi US darurat

Posted by moneypedia > 2020-03-23 17:28 | Report Abuse

tarapalah dadu semua sama no kot semua no 2.

kiki

Posted by KAQ4468 > 2020-03-23 17:51 | Report Abuse

Mari kita tengok ....siapa yang kena


Kikikiki kui ..... Nombor 2 lagi la

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

The Federal Reserve just pledged asset purchases with no limit to support markets

(PUBLISHED MON, MAR 23 20207:59 AM EDTUPDATED MOMENTS AGO)


The Federal Reserve said Monday it will launch a barrage of programs aimed at helping markets function more efficiently in the wake of the coronavirus crisis.

Among the initiatives is a commitment to continue its asset purchasing program “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”

Others include a $300 billion lending program for Main Street businesses and the Term Asset-Backed Loan Facility implemented during the financial crisis.

Markets reacted positively to the moves, cutting most of the losses in stock market futures that had once been “limit down” in overnight trading.

The Fed also said it will purchase agency commercial mortgage-backed securities as part of an expansion in its asset purchases, known in the market as quantitative easing. The move represents an expansion into the commercial sector of real estate for the central bank’s acquisitions.

“We are now in QE infinity, again,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, said in a note.

The measures come on top of programs the central bank announced last week aimed at easing the flow of credit markets and the short-term finding that banks need to operate.

“The coronavirus pandemic is causing tremendous hardship across the United States and around the world. Our nation’s first priority is to care for those afflicted and to limit the further spread of the virus,” the Fed said in a statement. “While great uncertainty remains, it has become clear that our economy will face severe disruptions. Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate.”

Monday’s announcement represents the most aggressive market intervention the Fed has made to date.

Previously, it had announced it would buy $500 billion worth of Treasurys and $200 billion in MBS. The new move represents an open-ended commitment to the QE program.


##https://www.cnbc.com/2020/03/23/fed-announces-a-slew-of-new-programs-to-help-markets-including-open-ended-asset-purchases.html

Posted by Keyman188 > 2020-03-23 20:26 | Report Abuse

Oil reverses losses, jumps 4% after Fed promises aggressive asset purchases to support markets

PUBLISHED SUN, MAR 22 20206:21 PM EDTUPDATED MOMENTS AGO

Oil prices reversed losses on Monday, jumping 4% after the Federal Reserve promised aggressive asset purchases to support markets. The move higher comes after U.S. West Texas Intermediate crudeposted its worst week since 1991.

WTI rose 4% to trade at $23.52 per barrel. In a volatile session for the contract, prices were down 6% in early trading.International benchmark Brent crude traded 1% lower at $26.69 per barrel.


##https://www.cnbc.com/2020/03/22/oil-drops-more-than-8percent-extending-declines-after-worst-week-since-1991.html

Posted by elbrutus > 2020-03-23 20:29 | Report Abuse

u r referring to d CORONAVIRUS cases eh ???...hihihi

Posted by Keyman188 > 2020-03-23 20:30 | Report Abuse

Stock futures surge into the green after being ‘limit down’ overnight as Fed announces limitless asset purchases

PUBLISHED SUN, MAR 22 20206:04 PM EDTUPDATED MOMENTS AGO

U.S. stock futures surged on Monday, erasing steep overnight losses after the Federal Reserve unveiled new measures to keep markets working properly. Wall Street awaited Washington lawmakers to agree to an economic stimulus and rescue plan to cushion the blow from the coronavirus outbreak.

As of 8:18 a.m. ET, Dow Jones Industrial Average futures were up more than 400 points, or 2.4%. S&P 500 futures were up by about 2.8%. Nasdaq 100 futures traded 3.5% higher. The SPDR S&P 500 ETF was off by 0.8% in premarket trading.


##https://www.cnbc.com/2020/03/22/stock-market-futures-open-to-close-news.html

Posted by Keyman188 > 2020-03-24 10:39 | Report Abuse

Woo....

Engine start again....

Very high chance today closing rebound back above 1300....

Posted by Keyman188 > 2020-03-24 14:40 | Report Abuse

Today really no harmful push back above 1300....

This week can test few level....

1326

1354

1388.......

Posted by bnmacai > 2020-03-24 14:45 | Report Abuse

KLCI will be trading at 1900 at year end. 1900.

Posted by Keyman188 > 2020-03-24 15:27 | Report Abuse

Finally push back above 1300 pt....

Friday (20/03/20) - 1st round push back...

Tuesday (17/03/20) - 2nd round push back...

Posted by Keyman188 > 2020-03-24 16:01 | Report Abuse

Tomorrow KLCI retest 1326 level.....

Engine start again....................

Posted by Keyman188 > 2020-03-25 08:13 | Report Abuse

Dow Surges Most Since 1933 on Stimulus Deal Hopes: Markets Wrap

(March 24, 2020, 5:55 AM GMT+8 Updated on March 25, 2020, 4:22 AM GMT+8)

U.S. stocks had the best day in almost a dozen years as investors rediscovered their appetite for risk with Congress closing in on an unprecedented spending bill to prop up the slumping economy. The dollar halted a 10-day winning streak.

The S&P 500 rebounded from the lowest level since 2016, notching a third straight Tuesday turnaround -- and the biggest one-day gain since October 2008 -- after starting the week with a rout. The Dow Jones Industrial Average rose more than 11% to clock its biggest advance since 1933.

Lawmakers are negotiating the final sticking points in a roughly $2 trillion stimulus bill to help the U.S. economy get through the coronavirus pandemic, and House Speaker Nancy Pelosi said she was hopeful a deal could be reached today.

“U.S. equities are responding to the possibility of this gargantuan fiscal stimulus package and some certainty in the political situation,” Stephen Dover, head of equities at Franklin Templeton, said in a phone interview.

The Stoxx Europe 600 Index also surged, led by health-care and industrial companies, even as data began to show the extent of economic damage to the region from the coronavirus pandemic. Benchmarks across Asia jumped, with Korea’s index soaring almost 9% after the government announced measures to stabilize markets.

The dollar slumped against developed and emerging currencies alike, in a tentative sign of reduced stress after the greenback’s steepest appreciation since the global financial crisis and longest winning streak since 2012. European bonds tracked Treasuries lower.

About $26 trillion has evaporated from equity markets since mid-February, and investors have been left sifting the wreckage and weigh the chances of a lasting rebound. On the one hand, Wall Street has begun to argue that liquidations are nearing an end with real-money investors like pension funds ready to step in, and there are signs of improvement in some of world’s regions that were hardest-hit by the virus. On the other, the number of infections globally continues to accelerate and many of the largest economies are grinding to a halt.

Tuesday’s gain in risk assets follows an unprecedented move by the Federal Reserve to backstop large swaths of the financial system. Still, key gauges of U.S. manufacturing and services in March fell the most on record, suggesting the deep toll the pandemic has already taken.

“Sentiment has improved, but to call it a turning point is too strong a word for now,” said James McCormick, global head of desk strategy at NatWest Markets. “It is more of a tug-of-war. Policy bazooka is in place, but will be fighting against very weak data and still worrying trends on Covid-19 data. We are more neutral on risk assets now.”

Elsewhere, emerging-market stocks jumped alongside their currencies. Gold extended recent a recent surge and industrial metals rallied.


##https://www.bloomberg.com/news/articles/2020-03-23/asian-stocks-look-to-steady-dollar-gains-markets-wrap?srnd=premium-asia

Posted by Keyman188 > 2020-03-25 08:16 | Report Abuse

DJIA...S&P500......Wild rebound & solid gain by more than 10%...

As I foresee...KLCI today will retest 1326 lvl.....

IF solid stand this level, next level will retest 1354 level.....

Posted by Keyman188 > 2020-03-25 10:20 | Report Abuse

KLCI easily surpassed 1325 just 15 min...

See today whether can touch another level...1354.....

Posted by Keyman188 > 2020-03-25 11:45 | Report Abuse

If strong support @ 1325 this few days...

No chance to go back 1220 & below............

Posted by Keyman188 > 2020-03-25 13:57 | Report Abuse

White House and Senate strike a deal on coronavirus stimulus bill

(PUBLISHED TUE, MAR 24 20207:26 AM EDTUPDATED MOMENTS AGO)

~ The White House and Senate leaders reached a deal early Wednesday on a massive $2 trillion coronavirus stimulus bill to combat the economic impact of the outbreak, NBC News reports.

~ Treasury Secretary Steven Mnuchin agreed to enhanced oversight of a $500 billion bailout fund that Democrats had criticized, according to a senior administration official.

~ One of the key issues that had yet to be resolved is the terms of the airline aid and oversight that comes with it, two sources said.


The White House and Senate leaders reached a deal early Wednesday on a massive $2 trillion coronavirus stimulus bill to combat the economic impact of the outbreak, NBC News reports.

On Tuesday, leaders in both parties had said that they were closing in on an agreement. Multiple people familiar with the situation told CNBC that they were still close to a deal, although talks continued as they worked through the text and hashed out final details. Two of the people had cautioned that talks could spill into Wednesday morning.

One of the key issues was the terms of the airline aid and oversight that comes with it, two of the people said. Democrats have pushed for a number of stipulations along with aid to the industry, including longterm bans on stock buybacks, limits on executive compensation, commitments not to furlough workers and board representation.

Meantime, President Donald Trump stressed in a press conference Tuesday that the money the U.S. lends “will be coming back” to it. The airlines have pushed for half of their aid in grants, arguing debt from loans would be too onerous.

One of the sources said there continued to be questions around oversight of the $500 billion fund that Republicans have proposed to support distressed companies. Treasury Secretary Steven Mnuchin has said the Federal Reserve could leverage the loans in the fund to offer up to $4 trillion in financing. The mechanics, though, are still in question, said the source.

Democrats, still angry over the leeway banks got in the 2008 bank bailout, have argued the fund gives the Treasury too much discretion. One option being considered is a weekly check-in with companies borrowing from the fund, the source said.

Still, House Speaker Nancy Pelosi, D-Calif., Senate Minority Leader Chuck Schumer and National Economic Council Director Larry Kudlow all spoke optimistically about the fund Tuesday. They said there are plans to add more oversight to that fund, with the addition of an oversight board and an inspector general.

“It will be completely transparent,” Kudlow said at a coronavirus task force briefing Tuesday at the White House.

Schumer had earlier in the day indicated in a speech on the Senate floor the fund was a key focus for Democrats.

Still, the two parties have worked already worked through a number of disagreements.

For the Democrats, that includes securing more funding for hospitals, and a state and local stimulus fund as part of their “Marshall Plan.” Schumer touted on the Senate floor unemployment insurance on steroids, which promised beneficiaries insurance for four months.

A draft bill from early Tuesday afternoon has had language stipulating a $350 billion fund for small businesses to mitigate layoffs and support payroll.

It also offered cash payments of up to $1,200 for individuals, $2,400 for married couples and $500 per child. Those amounts are reduced if an individual makes more than $75,000 or a couple makes more than $150,000.

President Donald Trump, describing the proposal as a $2 trillion package, said Tuesday that “we are working to pass the biggest and boldest financial relief package in American history.”


##https://www.cnbc.com/2020/03/24/coronavirus-updates-congress-gets-closer-to-a-deal-on-massive-stimulus-bill.html

Posted by Keyman188 > 2020-03-25 15:51 | Report Abuse

Too Late Now to Hedge Risks, $16 Billion Credit Manager Says

(March 25, 2020, 2:04 PM GMT+8)

If you didn’t already start hedging against the risk of a deep sell-off in credit markets last month, don’t bother now.

Ville Talasmaki, who helps manage about $16 billion of credit investments for Finnish financial group Sampo Oyj, says the warning signs had been plain for a while.

“There’s not much you can do to hedge yourself against the crisis anymore,” Talasmaki said by phone. “All the wise decisions should have been made in February and before that when you had all the warning signs and red flags waving in front of you.”

With panic setting in as the fallout of the coronavirus spreads, the market appears no longer to be functioning rationally. As a result, good-value corporate bonds have been being dumped indiscriminately, Talasmaki said.

For the risky end of the debt market -- high-yield bonds and leveraged loans -- “it’s brutal out there; overall, the picture is one in which “you’ve thrown out the baby with the bath water,” Talasmaki said.

Now, with historic stimulus packages unveiled by the European Central Bank and the Federal Reserve, there are signs that sentiment is improving. For higher rated credits in particular, the panic appears to have subsided.

“As long as the liquidity backstop by the ECB is credible, then the risk is low for this to become a full-blown risk or a catastrophe in Europe,” Talasmaki said.

The next step as an investor is to be ready to buy when the recovery sets in.

“History has taught us that the first investments after the crisis are the best ones,” Talasmaki said. “Ones where the issuer is forced to pay a higher price, a premium, for accessing the market.”


##https://www.bloomberg.com/news/articles/2020-03-25/too-late-now-to-hedge-risks-16-billion-credit-manager-says?srnd=premium-asia

Posted by Keyman188 > 2020-03-25 17:08 | Report Abuse

Purposely shy behind 1325 little bit to reserve for tomorrow....

KLCI just closed @ 1324.50...Wakakaka...Wakakaka.....

Tomorrow see you @ 1340....Friday see you @ 1354...........

Posted by Keyman188 > 2020-03-26 00:04 | Report Abuse

Former Fed Chairman Ben Bernanke sees ‘very sharp’ recession, followed by ‘fairly quick’ rebound

(PUBLISHED WED, MAR 25 20208:51 AM EDTUPDATED 2 HOURS AGO)

~ Former Federal Reserve Chairman Ben Bernanke expressed optimism about the longer-term picture for the U.S. economy.

~ While the country is in for a “sharp, short” recession,” he sees a “fairly quick rebound” ahead.

~ Bernanke guided the Fed during the financial crisis and accompanying Great Recession.


Former Federal Reserve Chairman Ben Bernanke sounded an optimistic tone on the longer-term state of the economy, predicting in a CNBC interview Wednesday that while the U.S. is facing an acute recession, it shouldn’t last.

“It is possible there’s going to be a very sharp, short, I hope short, recession in the next quarter because everything is shutting down of course,” he said on “Squawk Box.”

“If there’s not too much damage done to the workforce, to the businesses during the shutdown period, however long that may be, then we could see a fairly quick rebound.”

During the financial crisis that exploded in 2008, Bernanke guided the Fed through its efforts to save the economy. He was the first central bank chairman to pull its benchmark interest rate down to near zero, and the Bernanke Fed implemented a slew of programs that have been resurrected to deal with the current crisis.

While he guided the Fed through the financial crisis and accompanying Great Recession and is recognized authority on the Great Depression, he said the current situation bears only minor resemblance to those two periods.

“This is a very different animal from the Great Depression” which he said “came from human problems, monetary and financial shocks. This is has some of the same feel, some of the feel of panic, some of the feel of volatility that you’re talking about. It’s much closer to a major snowstorm or a natural disaster than a classic 1930′s-style depression.”

In fact, he said, the current situation is almost the opposite of the financial crisis, where problems in the banking system infected the broader economy. This time, issues in the broader economy brought on by the coronavirus are infecting the banks.

He stressed the important of getting the coronavirus itself under control so that policy can do its work.

“Nothing is going to work, the Fed is not going help, fiscal policy is not going to help if we don’t get the public health right, if we don’t solve the problem of the virus, of the infection, so making sure that the risk has declined sufficiently before put people back in the line of fire,” Bernanke said.

“So I think the public health is the most important one,” he added. “If we can get that straight, then we know how to get the economy working again. Monetary and fiscal policy can do their thing and we won’t have anything like the extended downturn we saw even, I don’t think, in the Great Recession, much less the Great Depression of the ’30s.”

Earlier Wednesday, St. Louis Fed President James Bullard expressed similar sentimentsabout the economy, telling CNBC he expects a big short-term hit but a strong rebound.

He praised the work being done by Chairman Jerome Powell and the rest of the current Fed.

The Powell Fed has pulled benchmark borrowing rates down to near-zero and implemented a slew of programs aimed at keeping liquidity flowing to the financial system and businesses.

“I think the Fed has been extremely proactive, and Jay Powell and his team have been working really hard and gotten ahead of this and shown they can set up a whole bunch of diverse programs that will help us keep the economy functioning during this shutdown period, so that when the all-clear is sounded, we will have a much better rebound than we otherwise would,” Bernanke said.



##https://www.cnbc.com/2020/03/25/former-fed-chairman-ben-bernanke-sees-very-sharp-recession-followed-by-fairly-quick-rebound.html

Posted by bnmacai > 2020-03-26 01:13 | Report Abuse

1500 tomorrow.

Posted by bnmacai > 2020-03-26 01:13 | Report Abuse

next week 1600

Posted by bnmacai > 2020-03-26 01:13 | Report Abuse

May will be at 1800

Posted by Keyman188 > 2020-03-26 09:43 | Report Abuse

No more huge selling pressure in the short term period....

See you...KLCI @ 1354...1388...soon...........

Posted by Keyman188 > 2020-03-26 12:37 | Report Abuse

Senate passes $2 trillion coronavirus stimulus package, sending it to the House (PUBLISHED WED, MAR 25 202011:31 PM EDTUPDATED 11 MIN AGO)

~ The Senate passes a $2 trillion economic relief package to respond to the coronavirus pandemic.

~ It now heads to the House, which hopes to approve it by Friday.

~ The legislation, approved as waves of layoffs hit workers and hospitals look for resources, may not be the last action Congress takes to help a reeling economy and health care system.


The Senate passed a historic $2 trillion coronavirus relief package Wednesday night, as it tries to stem the destruction the pandemic has brought to American lives and wallets.

The chamber approved the mammoth bill in a unanimous 96-0 vote after days of furious negotiations, partisan sniping and raised tempers on the Senate floor. The bill now heads to the House, which will push to pass it by voice vote Friday morning as most representatives are out of Washington.

“This is a proud moment for the United States Senate and for the country and we’re going to win this battle in the very near future,” Senate Majority Leader Mitch McConnell, R-Ky., told reporters after the vote.

The 880-page legislation includes direct payments to individuals, stronger unemployment insurance, loans and grants to businesses and more health care resources for hospitals, states and municipalities. It includes requirements that insurance providers cover preventive services for the coronavirus disease COVID-19.

The Senate rushed to pass the sweeping aid bill as data are expected to show a historic spike in unemployment claims after businesses across the country shuttered to try to slow the outbreak’s spread. Some hospitals have started to buckle under a flood of patients, asking for critical supplies such as masks and ventilators.

Coronavirus cases in the U.S. number more than 68,000, while deaths have now topped 1,000, according to data compiled by Johns Hopkins University.

The chamber approved the plan to combat the outbreak as the crisis started to thin its ranks. Sen. Rand Paul, R-Ky., did not vote after testing positive for COVID-19, and neither did GOP Sens. Mitt Romney and Mike Lee of Utah, both in isolation after contact with their colleague. Sen. John Thune, a South Dakota senator and second-ranking Republican, also missed the vote after feeling ill.

While the Senate took precautions Wednesday such as keeping votes open longer to reduce crowding, senators still huddled in groups and chatted.

Speaking before the chamber passed the bill, McConnell said the Senate would not return until April 20. However, he said lawmakers would be “nimble” as the evolving crisis could force further action to boost the American economy or health care system.

“If circumstances require the Senate to return for a vote sooner than April the 20th we will provide at least 24 hours of notice,” he said.

Before passing the bill, the Senate first rejected an amendment proposed by Sen. Ben Sasse, R-Neb., to cap unemployment insurance at a recipient’s previous wages. The bill adds $600 per week to the benefits a recipient would normally get for up to four months. Sasse’s amendment failed in a 48-48 vote.

The senator and three of his GOP colleagues threatened to delay passage of the legislation if they could not get a vote on an amendment. Sen. Bernie Sanders, I-Vt., then suggested he could hold up the bill’s approval if they did not back down from their opposition.

While the snag caused fears the bill would not pass, hitting U.S. stock indexes just before markets closed Wednesday, it ultimately did not stop the Senate from approving the proposal.

In a letter to colleagues Wednesday night, House Majority Leader Steny Hoyer said the chamber will convene at 9 a.m. Friday to consider the legislation. The Maryland Democrat said that “in order to protect the safety” of representatives and staff and “prevent the further spread of COVID-19,” he and House Minority Leader Kevin McCarthy, R-Calif., expect the House will take a voice vote.

“Members who want to come to the House Floor to debate this bill will be able to do so. In addition, we are working to ensure that those who are unable to return to Washington may express their views on this legislation remotely,” he wrote.

House approval would send the package to President Donald Trump’s desk. He has expressed support for the agreement his Treasury Secretary Steven Mnuchin negotiated with Senate Republicans and Democrats.

During a White House coronavirus briefing Wednesday, Trump said he would sign the legislation “immediately” after Congress passes it.


##https://www.cnbc.com/2020/03/25/senate-passes-2-trillion-coronavirus-stimulus-package.html

Posted by Keyman188 > 2020-03-26 20:57 | Report Abuse

Bursa Malaysia relaxes margin financing rules to ease forced selling pressure on market

(theedgemarkets.com / March 26, 2020 20:22 pm +08)


KUALA LUMPUR (March 26): Bursa Malaysia Securities Bhd has announced the temporary relaxation of margin financing rules to ease the pressure of forced selling on the market, amid the virus-driven equity rout.

“Due to uncertainties in the global as well as local market arising from the COVID-19 outbreak, selling pressures have impacted the share prices, resulting in forced selling pressure to many counters and affecting investors, especially those with margin accounts.

"In view of the above, and as part of the market management measures, the exchange will facilitate Participating Organisations (POs) to accord the appropriate flexibilities to their clients and also to manage the POs’ credit risks. The measures are aimed at mitigating the forced selling pressure on the market, as well as safeguarding investors’ interest in respect to those who have pledged their shares for financing," the exchange regulator said in a circular to POs this evening.

These flexibilities may also allow investors to provide other types of collateral for purposes of margin financing, as may be necessary, it said.

To facilitate these measures, it has temporarily modified the relevant provisions of the Rules and Directives of Bursa Malaysia.

In particular, Rule 7.30(12) - which dictates that the PO must liquidate the client’s margin account in the event that the equity in the account falls below 130% of the outstanding balance - has been modified to remove the mandatory liquidation requirement. So, the PO now has the discretion to decide whether to liquidate the margin account or otherwise, in accordance with its credit policy.

As such, the provision in Rule 7.30(14), which states that no further margin financing can be extended following the events stated in the rule above, has been waived for consistency.

Besides that, it is no longer mandatory for a PO to request for additional margin, and to impose haircuts on any collateral and securities purchased and carried in margin accounts upon the occurrence of: i) unusual rapid changes in value of the securities, ii) the non-existence of an active market for the securities, iii) suspension of the securities from trading, or, iv) no possibility of immediate liquidation for the securities.

“A PO will instead have the discretion to decide whether to request such additional margin or impose a haircut, in accordance with its credit policy,” it said. This is a modification to Rule 7.30(19).

The bourse also modified a paragraph which requires the assignment of zero value to all other types of collateral. Instead, a PO must now refer to its credit policy in assigning a value to other types of collateral, including bonds, collective investment schemes, unit trusts, gold and immovable properties.

The waiver and modification of these rulings will take effect tomorrow (March 27) until Sept 30, 2020.

The bourse also took note of the extended Movement Control Order (MCO) and encouraged all POs, which provide counter service to their clients and customers, to limit their respective counter service hours to between 10am to 3pm during business days.



##https://www.theedgemarkets.com/article/bursa-malaysia-relaxes-margin-financing-rules-ease-forced-selling-pressure-market

Posted by Keyman188 > 2020-03-27 11:44 | Report Abuse

What I expected KLCI.....towards 1354 today...

(I already told you @ 25/03/20).......chun or not chun you judge....




Posted by Keyman188 > Mar 25, 2020 5:08 PM | Report Abuse X

Purposely shy behind 1325 little bit to reserve for tomorrow....

KLCI just closed @ 1324.50...Wakakaka...Wakakaka.....

Tomorrow see you @ 1340....Friday see you @ 1354...........

Posted by Keyman188 > 2020-03-27 12:17 | Report Abuse

Today having special announcement by PM.......

KLCI very high chance break 1355 today........

Posted by Keyman188 > 2020-03-27 14:46 | Report Abuse

Trump says the US and China are ‘working closely together’ in fight against the coronavirus (PUBLISHED FRI, MAR 27 20201:49 AM EDTUPDATED 13 MIN AGO)

China and the U.S. aim to work more closely together in light of the spread of the coronavirus, leaders of both countries said in a phone call Friday Beijing time.

U.S. President Donald Trump said in a tweet that he spoke with his Chinese counterpart Xi Jinping “in great detail” about the COVID-19 pandemic, which has so far killed more than 24,000 people globally.

“China has been through much & has developed a strong understanding of the virus,” Trump said on Twitter. “We are working closely together. Much respect!”

The phone conversation followed a video conference meeting of G-20 leaders during which Xi gave a speech calling for greater international cooperation.

In the call with Trump, Xi said that U.S.-China relations are at a critical juncture, and hoped the U.S. would make substantial action in improving the relationship, according to a Chinese-language state media report translated by CNBC.

“The Chinese side is willing to continue to provide information and experience with the U.S. without reservation,” the report of Xi’s comments said.

The Chinese state media report of the call noted Trump said China’s experience gave him “great inspiration.”


##https://www.cnbc.com/2020/03/27/donald-trump-speaks-to-chinas-xi-jinping-on-coronavirus.html

Posted by Keyman188 > 2020-03-30 17:29 | Report Abuse

JPMorgan Says the Market Rout Is Probably Past Its Worst Now

(March 30, 2020, 12:21 PM GMT+8 Updated on March 30, 2020, 3:17 PM GMT+8)

~ Conditions for market stabilization, revival mostly met: JPM

~ Most risky assets should trade higher in next quarter: Normand


Strategists at JPMorgan Chase & Co. have concluded that most risk assets -- a universe that typically includes stocks and credit -- have seen their low points for the recession that’s gripped economies around the world.

Conditions that JPMorgan had set for market stabilization and revival have largely been met, with recession-like pricing, a reversal in investor positioning and extraordinary fiscal stimulus, strategists led by John Normand wrote in a note Friday. Coronavirus infection rates remain a “wild card,” as they remain high even if they’re “slowing” in the U.S. and Europe.

“Risky markets should remain volatile as long as infection rates create uncertainty about the depth and duration of the Covid recession, but enough has changed fundamentally and technically to justify adding risk selectively,” Normand wrote. “Most risky markets have probably made their lows for this recession, except perhaps oil and some EM currencies beset by debt-sustainability issues.”

Most risk assets should trade higher in the second quarter of the year, Normand said. He recommends that investors average into oversold markets, particularly those where central banks are buying directly. (Averaging into markets entails spreading out the purchases over time rather than diving in in one go.)

Not everyone sees the bottom as necessarily in.

Goldman Sachs Group Inc.’s David Kostin reiterated in a note Friday that he expects the market to turn lower in coming weeks. He cited a checklist for a sustained rally similar to Normand’s -- of slowing viral spread, evidence that fiscal and monetary policy stimulus is working, and a bottoming in investor positioning and flows.

Gavekal Research Ltd.’s Anatole Kaletsky said in a note Monday that it’s too early to buy equities, citing reasons including “surprisingly complacent” investor sentiment and historical data showing bear markets almost never end on a single massive sell-off without retesting the bottom.



##https://www.bloomberg.com/news/articles/2020-03-30/jpmorgan-says-the-market-rout-is-probably-past-its-worst-now?srnd=premium-asia

Posted by Keyman188 > 2020-03-30 17:33 | Report Abuse

UBS, HSBC Advise Top Clients to Buy Asia Stocks Amid Equity Rout

(March 30, 2020, 11:02 AM GMT+8 Updated on March 30, 2020, 11:36 AM GMT+8)

~ Consider structured products for Singapore bank shares: UBS

~ “We are quite near the bottom in Asian equities”: DBS’s Hou


The rout in Asian equity markets this year has not been for the faint-hearted. Yet, investment experts at private banks say it’s time for clients to indulge in a bit of bargain hunting.

Wealth managers such as UBS Group AG and DBS Group Holdings Ltd. are recommending clients dip their toes in structured products based on regional stocks, while Bank of Singapore Ltd. has upgraded Asia ex-Japan equities. Concerns about the health crisis’ economic repercussions have wiped out $5.5 trillion in Asian stock-market value since Jan. 20 when traders began reacting to virus fears. The region’s benchmark index, which snapped a four-day advance to fall 1.8% as of 11:35 a.m. in Singapore, is set for its worst quarter since 2008, led by energy shares.

While the past week’s rebound has failed to convince most investors that the market has hit a bottom, private banks are not sitting idle. Here’s what investment chiefs are recommending to clients.

UBS

“Look for oversold names,” Kelvin Tay, the Asia Pacific chief investment officer for UBS’s wealth-management unit, wrote in a note Wednesday. Historically low valuations for regional stocks excluding Japan are offering opportunities in companies related to online consumption, such as gaming, e-commerce and food delivery, he added. The Swiss bank is also recommending China property shares listed in Hong Kong, Japanese automation and machinery companies and 5G-related firms.

In an interview earlier this month, Tay said investors can consider structured products such as equity-linked notes and reverse convertible notes on Singapore bank stocks for lower “entry points.” “You are talking about banks yielding 6% and a tier-1 capital ratio of about 15% -- you can’t get it anywhere else in the world,” he said.

DBS

“We are quite near the bottom in Asian equities,” said Hou Wey Fook, DBS Bank’s chief investment officer, pointing to valuation indicators trading near historical lows, implied volatility levels, and “playbooks from SARS” and the global financial crisis. Within the region’s equities, the Singapore-headquartered bank favors China shares.

Clients have been investing in beaten-down Singapore real estate investment trusts and health-care stocks by purchasing securities or structured products enhancing yields, added Joseph Poon, group head of DBS Private Bank. He said there’s been an up-tick in clients’ trading volume this year.

HSBC

According to Patrick Ho, HSBC Private Banking’s chief market strategist for North Asia, investors still need to manage the “very weak economic and profit data of the coming weeks and months.” But in the meantime, the private bank is recommending companies with “above average” profitability, strong balance sheets, the ability to pay stable dividends and strong brand presence.

Ho said he has identified such firms in the consumer, technology and telecommunication sectors in Asia as well as China’s real estate.


##https://www.bloomberg.com/news/articles/2020-03-30/what-private-banks-are-telling-clients-about-asian-equities?srnd=premium-asia

Posted by Keyman188 > 2020-03-30 17:35 | Report Abuse

Waaahhh....suddenly most of the investment bank (JP Morgaon, UBS, DBS & HSBC) buy call equity after massive sell down....

Posted by Lucky81 > 2020-03-30 17:44 | Report Abuse

price support and share dumping

Posted by Lucky81 > 2020-03-30 17:45 | Report Abuse

be sceptical

Posted by Keyman188 > 2020-03-30 22:11 | Report Abuse

February pending home sales jump over 9% annually, ahead of major coronavirus impact

PUBLISHED MON, MAR 30 202010:00 AM EDT

~ Pending home sales, which measure signed contracts on existing homes, rose 2.4% in February compared with January. Sales were  up a steep 9.4% annually, according to the National Association of Realtors. 

~ “Numbers in the coming weeks will show just how hard the housing market was hit, but I am optimistic that the upcoming stimulus package will lessen the economic damage and we may get a V-shaped robust recovery later in the year,” said Lawrence Yun, NAR’s chief economist.


Homebuyer demand was strengthening markedly just before COVID-19 began its spread across the U.S.

Pending home sales, which measure signed contracts on existing homes, rose a stronger than expected 2.4% in February compared with January. Sales were  up a steep 9.4% annually, according to the National Association of Realtors. That is the highest pace in exactly three years.

“February’s pending sales figures show the housing market had been very healthy prior to the coronavirus-induced shutdown,” said Lawrence Yun, NAR’s chief economist. “Numbers in the coming weeks will show just how hard the housing market was hit, but I am optimistic that the upcoming stimulus package will lessen the economic damage and we may get a V-shaped robust recovery later in the year.”

Regionally, pending home sales in the Northeast rose 2.8% for the month and were 5.9% higher than a year ago. In the Midwest, they increased 4.5% monthly and 14.9% annually.

Pending home sales in the South were up just 0.1% monthly, but 7.1% annually. In the West, where home prices are highest, sales grew 4.6% for the month and jumped 10.8% from a year ago.

The spring housing market was set up to be one of the best since the last recession. Closed sales of existing homes  in February jumped 7% annually to the highest level since February 2007, according to the National Association of Realtors. Those closings were based on deals made in December and January. Signed contracts to buy newly built homes also soared in February, up 14% annually.

While it is impossible to know exact numbers, one estimate is that home sales this spring will drop 35% annually, according to Capital Economics. The market was already struggling with record low inventory, and now some sellers are de-listing their properties. They either don’t want people touring their homes or don’t wan to sell into a down market. 


##https://www.cnbc.com/2020/03/30/february-pending-home-sales-jump-over-9percent-annually-ahead-of-coronavirus-impact.html

Posted by Keyman188 > 2020-03-31 09:10 | Report Abuse

China says manufacturing activity expanded in March, topping expectations for a contraction

(PUBLISHED MON, MAR 30 20209:06 PM EDT)

~ China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak.

~ Analysts polled by Reuters had expected the official PMI to come in at 45 for the month of March, from a record low of 35.7 a month earlier.


~ China’s manufacturing activity slowed dramatically earlier this year as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease, formally known as COVID-19.


China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak.

Analysts polled by Reuters had expected the official PMI to come in at 45 for the month of March.

In February, the official PMI hit a record low of 35.7.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

Earlier this year, manufacturing activity slowed dramatically in China as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease, formally known as COVID-19.

On Monday, China’s Ministry of Industry and Information Technology said that as of March 28, the resumption of work rate for industrial enterprises was 98.6%, and the return of workers stood at 89.9%.

A private PMI survey by Caixin and IHS Markit will be released on Wednesday.

The Caixin/Markit survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion of big businesses and state-owned companies.


##https://www.cnbc.com/2020/03/31/china-reports-march-manufacturing-pmi-amid-coronavirus-outbreak.html

Posted by Keyman188 > 2020-03-31 09:58 | Report Abuse

KLCI heading to test 1355 level again...Global market lead by China Market due to surpass expectation of PMI....