Tuesday, May 05, 2009
SGX Does 3 Billion Shares !
What a fantastic day for the Singapore market. The Straits Times Index closed up 45.64 at 2074.35. The amazing thing is the volume done...seems that we are back at the pre crisis level. I am apprehensive i must say.
Thursday, April 03, 2008
Will US Decouple from the Rest of the World?
In recent times you will find that the co-relation between the US market and the rest of the world is getting really wacky. Believe it or not, this possibility is really low. Of course this is my personal opinion. This New World of ours is too connected and markets accessibility is too high for me to buy this theory. However, a logical outcome of this whole idea is the lesser reliance of US as a leading indicator for global market movements.
Is this the beginning of a shift of dynasty?
Is this the beginning of a shift of dynasty?
Sunday, March 30, 2008
A Slap in the Face for Recent Lehman Investors
Source: Money CNN
"Lehman Brothers is accusing a Japanese trading company of perpetrating a massive fraud and plans to sue it for hundreds of millions of dollars, officials at the U.S. investment bank said Sunday.
Please click above source link for entire article
It's really a slap in the face for recent lehman brothers supporters. After what was a vote of confidence by the markets after reporting good results, on comes a freight train carrying a bunch of useless loan agreements overunning everything.
Might see them testing $35 tonight if this news hit the market full steam.
"Lehman Brothers is accusing a Japanese trading company of perpetrating a massive fraud and plans to sue it for hundreds of millions of dollars, officials at the U.S. investment bank said Sunday.
Lehman is seeking to recoup US$350 million (euro221.58 million) in outstanding loans, which it provided to a unit of LTT Bio-Pharma, according to company officials who spoke condition of anonymity, citing the sensitivity of the case."
Please click above source link for entire article
It's really a slap in the face for recent lehman brothers supporters. After what was a vote of confidence by the markets after reporting good results, on comes a freight train carrying a bunch of useless loan agreements overunning everything.
Might see them testing $35 tonight if this news hit the market full steam.
Friday, March 28, 2008
Bear Sterns's Chairman Dumped Every Share After JP Morgan's New Deal
How amazing, so much for JP Morgan quadrapling their deal to US$10/share, you have their chairman dumping every single share.
Source: Money CNN
"Just a day after JPMorgan Chase quintupled its bid for Bear Stearns, James Cayne, the chairman of the troubled investment bank, dumped his entire stake in the firm, selling more than $60 million worth of company stock he owned.
Source: Money CNN
"Just a day after JPMorgan Chase quintupled its bid for Bear Stearns, James Cayne, the chairman of the troubled investment bank, dumped his entire stake in the firm, selling more than $60 million worth of company stock he owned.
Cayne sold over 5.61 million shares of company stock Tuesday at $10.82 a share, according to a company filing with the Securities and Exchange Commission on Thursday.
The filing also revealed that his spouse sold an additional 45,669 shares, worth close to $500,000."
Wednesday, March 26, 2008
China QDII Fund Goes Kaboooom!
So much for the hype of China's QDII fund being the next big thing to the world of equity. It seems that most of us are unaware of the liquidation clause that protects 50% of the initial invest. Please read news summary below:
"Minsheng Bank's (600016) QDII fund has been forced to liquidate after its NAV fell more than 50%. Minsheng sold 100 mn shs for the QDII fund at Rmb1/share in Oct 2007. Under the agreement, the fund was to be liquidated when its assets fell below 50% of their initial value or rose more than 18%."
"Minsheng Bank's (600016) QDII fund has been forced to liquidate after its NAV fell more than 50%. Minsheng sold 100 mn shs for the QDII fund at Rmb1/share in Oct 2007. Under the agreement, the fund was to be liquidated when its assets fell below 50% of their initial value or rose more than 18%."
Monday, March 24, 2008
Singapore Scamster Gets Slapped with 5 Months Jail Term
Source: ChannelNewsAsia Forum
March 24, 2008
Unlicensed fund manager jailed five months
By Khushwant Singh
TRAINING firm Zone Financial was set up to teach people how to trade in future contracts and indices. But it also acted as a fund manager between May 2004 and August 2006, collecting nearly $4 million from 32 people.
Its managing director, Kelvin Han How Yong, 28, was on Monday jailed five months after pleading guilty to allowing the firm to engage in fund management without a capital markets services licence from the Monetary Authority of Singapore (MAS).
Han would persuade participants at his training sessions to invest in a fund - called the Kelvin's Fund - for periods ranging from a few weeks to six months.
Between May 2004 and August 2006, he raised about $4 million from 32 investors as personal loans to him.
The money was used to trade in futures contracts and indices and he promised his clients returns of one to five per cent per month, depending on the amount they put in.
By the time he resigned as managing director in August 2006, he had lost about $718,000.
Read the full story in Tuesday's edition of The Straits Times.
March 24, 2008
Unlicensed fund manager jailed five months
By Khushwant Singh
TRAINING firm Zone Financial was set up to teach people how to trade in future contracts and indices. But it also acted as a fund manager between May 2004 and August 2006, collecting nearly $4 million from 32 people.
Its managing director, Kelvin Han How Yong, 28, was on Monday jailed five months after pleading guilty to allowing the firm to engage in fund management without a capital markets services licence from the Monetary Authority of Singapore (MAS).
Han would persuade participants at his training sessions to invest in a fund - called the Kelvin's Fund - for periods ranging from a few weeks to six months.
Between May 2004 and August 2006, he raised about $4 million from 32 investors as personal loans to him.
The money was used to trade in futures contracts and indices and he promised his clients returns of one to five per cent per month, depending on the amount they put in.
By the time he resigned as managing director in August 2006, he had lost about $718,000.
Read the full story in Tuesday's edition of The Straits Times.
Thursday, March 20, 2008
Gold Rush "OUT"
via Money CNN (Source)
Gold prices tumbled Wednesday, as the dollar regained strength, to sink nearly $100 below its record high set Monday - leaving some traders wondering if this is the beginning of the end for gold's impressive run.
Gold might undergo short-term weakness due to this massive correction. Be vigiliant.
Gold prices tumbled Wednesday, as the dollar regained strength, to sink nearly $100 below its record high set Monday - leaving some traders wondering if this is the beginning of the end for gold's impressive run.
COMEX gold for April delivery fell $59 to settle at $945.30 an ounce Wednesday. Gold had set an intraday record of $1033.90 Monday.
Amazing it is, look at the way the market profit takes on whatever makes them money based on TREND. $59 drop in a day, i wonder how many stop orders have they triggered and how many margin calls have they caused.Gold might undergo short-term weakness due to this massive correction. Be vigiliant.
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