Posted by Keyman188 > 2020-04-10 09:50 | Report Abuse

Today just started to correct bear market rally.....

No need so fast bet in at this level................

Next week more value to see.........................

Posted by Keyman188 > 2020-04-10 09:57 | Report Abuse

Should Malaysia extend MCO?

(The Edge Financial Daily April 10, 2020 07:54 am +08)

KUALA LUMPUR: A day before the government is due to decide on whether to extend the movement control order (MCO) beyond April 14, two medical bodies have taken different positions on the matter.

While the Malaysian Medical Association (MMA) has called for the relaxation of the MCO, the Academy of Medicine of Malaysia (AMM) said the measures should be extended until Hari Raya Aidilfitri at end-May or even beyond that.

Both groups, however, agreed on the need to ease the socio-economic repercussions of the Covid-19 pandemic.

The MMA, in a statement yesterday, said the government should find a balance between enforcing measures to fight the virus, while also mitigating the economic impact of the pandemic.

While the MCO is targeted at limiting the spread of the virus by significantly reducing the contact between people, the association noted that such measures will have a severe economic impact.

“The longer it is in force, the worse the socio-economic damage will be. The authorities will have to find a balance between controlling the spread of the disease and avoiding irreparable economic damage,” it said.

The association quoted the World Health Organization (WHO) which had previously urged countries to balance the possible benefits and negative consequences of measures to be imposed and deploy strategies to encourage community engagement, gain trust and limit social or economic harm.

WHO had proposed organising worksites to ensure physical distance between persons, such as staggering shifts over time or converting on-site service to home delivery to keep more businesses open.

The MMA said the disruption of social activities, gainful employment, job losses and bankruptcies will have to be tempered with support for small businesses and the people, as no jobs means no income, which would mean that many would be hard pressed to survive prolonged MCOs or long-term lockdowns.

“It is likely that a stepwise relaxation of movement control will be the way forward. For instance, businesses may be allowed to operate with strict guidelines on how many people can be on the premises. Public transport may have to operate with limited loads, with frequent disinfection. Solitary public exercise will have to be permitted, to allow for mental and physical health issues.

“In all cases, strict hand hygiene and physical distancing must be observed, with masks if necessary. Interstate travel may need to be restricted, but will have to be prioritised for economic needs rather than personal,” said the association.

However, the association said large group congregations will have to be restricted still, until the likelihood of community viral spread comes down consistently, which might take months to years.

While movement control may be relaxed, diagnosis, isolation and treatment of Covid-19 patients cannot be let up and that point of care rapid tests, such as those for dengue and influenza, will need to be evaluated and made available within a few weeks.

“We will need to look into those who have been cured or who have protective antibodies, so that perhaps these convalescent people might get ‘certificates of infection and cure’, and therefore, be allowed to return quickly to society: to work, to pursue business, to study etc.

“This is being explored in Germany and northern European nations right now,” the MMA said.

Separately, the AMM said the Covid-19 pandemic has made it necessary for social distancing to be the new norm for a period of time until the situation is well under control.

“The risks of spreading the virus particularly to the elderly, in the case of a ‘balik kampung’ exodus, are very real,” the AAM said in a statement reported by Bernama.

“Risks associated with crowding at R&R stations and hence the failure of social distancing by travellers during this exodus and their subsequent return to urban areas will also need to be taken into consideration.

“For this year at least, be it Ramadan, Aidilfitri or even Haj gatherings — there is a need for control, monitoring and possible banning of these gatherings,” it added.

Stressing that the war against Covid-19 is far from over, the AMM said many sacrifices have been and will continue to be made this year.

“Let us show the world that Malaysians can exercise restraint as a nation and bring the war to a favourable close,” it said.

The group, however, also emphasised the need for the government to strengthen plans to ease the socio-economic repercussions of Covid-19, saying this will continue to have a major negative impact on all aspects of the Malaysian economy.

This, it added, is why “robust whole-of-government and whole-of-society approaches” are needed.

The MCO was initially enforced until March 31, but extended to April 14.


##https://www.theedgemarkets.com/article/should-malaysia-extend-mco

Posted by Keyman188 > 2020-04-10 09:58 | Report Abuse

Today afternoon will be announced whether MCO will be extended or not....

But I personally perceive that will extend lahhh......

So after announcement, KLCI will be more painful today afternoon.....

Be alert...be well prepare..........................

Posted by Keyman188 > 2020-04-10 11:00 | Report Abuse

Are you ready for afternoon battle !!!........

More & more downside risk in the afternoon today.......

Posted by Keyman188 > 2020-04-10 11:41 | Report Abuse

Coronavirus: US weekly jobless claims hit 6.6 million

The number of Americans seeking unemployment benefits has surged for a third week as the economic toll tied to the coronavirus pandemic intensifies.

More than 6.6 million people filed jobless claims in the week ending 4 April, the Department of Labor said.

To shore up the economy, the Federal Reserve said it would unleash an additional $2.3tn in lending.

The deepening economic crisis comes as the number of virus cases in the US soars to more than 430,000.

Over the last three weeks, more than 16 million people have made unemployment claims, as restrictions on activity to help contain the virus force most businesses to close and put about 95% of Americans on some form of lockdown.

"Today's report continues to reflect the personal sacrifice being made by America's workers and their families to slow the spread of the coronavirus," Labor Secretary Eugene Scalia said.

The surging joblessness is a stark reversal for the world's biggest economy where the unemployment rate had been hovering around 3.5%. Economists now expect that rate has hit the double digits.

The crisis has prompted dramatic government relief efforts.

The central bank programmes on Thursday, which include loans to local governments, are the latest actions by the Fed, which has also slashed interest rates, eased banking regulations and announced other programmes aimed at supporting home loans, currency markets and small businesses.

Fed Chairman Jerome Powell said the bank is using its emergency powers to "unprecedented extent".

"We will continue to use these powers forcefully, proactively and aggressively until we're solidly on the way to recovery," he said.

The US Congress has also passed a roughly $2tn rescue bill, which funds direct payment for households, assistance for businesses and increased unemployment benefits. Lawmakers are now discussing further relief.

But the number of people and firms seeking assistance has overwhelmed rescue efforts so far.

In New York, Lou Benavides, who works in the music industry, has tried for weeks to register for jobless benefits, but cannot reach the Labor Department to finish processing his claim.

"There was one day when I made like 300 calls," he said. "I still have not spoken to a human being."


##https://www.bbc.com/news/business-52231929

Posted by Keyman188 > 2020-04-10 16:23 | Report Abuse

You know why today not much downside risk !!!!.....

Lucky today is Good Friday.....Most of the foreign fund holidays...

Next week come back definitely have good show to KLCI..................

RIP..............

Posted by Keyman188 > 2020-04-11 10:20 | Report Abuse

Trump says he’s not going to reopen economy ‘until we know this country is going to be healthy’

(PUBLISHED FRI, APR 10 20202:50 PM EDTUPDATED 4 HOURS AGO)


~ President Donald Trump said on Friday that he will not reopen the economy “until we know this country is going to be healthy.”

~ Trump said he also plans to announce an “Opening our Country Council” on Tuesday comprised of business leaders and doctors and potentially governors that will help determine how to reopen the economy.

~ The U.S. Department of Health and Human Services reportedly projected that lifting stay-at-home orders, school closures and social distancing after just 30 days would lead to an infection spike this summer.

President Donald Trump said on Friday that he will not reopen the economy “until we know this country is going to be healthy.”

The U.S. Department of Health and Human Services reportedly projected that lifting stay-at-home orders, school closures and social distancing after just 30 days would lead to an infection spike this summer, according to documents first reported by The New York Times.

When asked whether Trump had seen federal projections that the coronavirus could resurge if the 30-day shelter-in-place orders were lifted, he said he had not seen the projections.

“We’re looking at a date, we hope we’ll be able to fulfill a certain date, but we’re not doing anything until we know this country is going to be healthy,” Trump said during a White House press briefing. “We don’t want to go back and start doing it over again, even though it would be in a smaller scale.”

Trump said he also plans to announce an “Opening our Country Council” on Tuesday comprised of business leaders and doctors and potentially governors that will help determine how to reopen the economy.

“I’ve gained great respect for governors, both Republican and Democrat. I’ve actually become friends with some of the Democrat governors that I wouldn’t have really had the privilege of getting to know,” Trump said.

He added that he wants the states’ governors to ultimately decide whether to reopen parts of the country, but said he has “great authority” if he wanted to use it and said the question of when to ease social distancing restrictions will be “the biggest decision” he’s ever made.

“I don’t know that I’ve had a bigger decision, but I’m going to surround myself with the greatest minds, not only the greatest minds, but the greatest minds in numerous different businesses, including the business of politics and reason, and we’re going to make a decision,” Trump said, adding that, “Hopefully it’s going to be the right decision.”

Trump said that he would be open to reshuttering the U.S. economy if it were opened initially but another outbreak of COVID-19 cases followed.

“I want to get it open as soon as possible. This country was meant to be open and vibrant...” Trump said. “I would love to open it, I’m not determined to anything. The facts will determine what I do, but we do want to get the country open.”

Dr. Anthony Fauci, White House health advisor, said that whenever governments begin to pull back restrictions, there could be a resurgence in new cases. The goal at that point would be to quickly identify new cases, isolate infected people and contact trace, or determine the origin of infection.

“When we decide at a proper time when we’re going to be relaxing some of the restrictions, there’s not doubt you’re going to see cases, Fauci said. “I’d be surprised if we didn’t see cases. The question is how do you respond to them.”


##https://www.cnbc.com/2020/04/10/trump-says-hes-not-going-to-reopen-economy-until-we-know-this-country-is-going-to-be-healthy.html

Posted by Keyman188 > 2020-04-13 09:12 | Report Abuse

US (DJIA) future market -400 pt....

Hopefully no "Circuit Breaker" again...

Posted by Keyman188 > 2020-04-13 10:35 | Report Abuse

KLCI now trading @ "Cross-Death" direction...

Don't know whether consolidation now or bear market rally !!!...

All need to wait this week US market direction....................

Posted by Keyman188 > 2020-04-13 12:25 | Report Abuse

KLCI afternnon session no eye see liao.....

DJIA future heading -400 pt....

Nikkei 225 now trading -300 ++ pt...