Euro Success Translucent to Top $ 1.35. Until well into the European trading session on Wednesday (30/01), the single currency euro shot up to carve its highest level since December 2011 and in the number 1.3515. Euro Rebound thanks mainly related to market sentiment improving outlook Eurozone and expectations that the Federal Reserve will maintain ultra-loose policy this year. Positive German economic data and some signs of recovery in the European banking sector, as well as the hope that the worsening eurozone crisis has now passed. So it's encouraging to investors willing to take more risk assets, especially in the Euro currency. Throughout last week's economic data released in the Euro area appear satisfactory. On weekends (Friday, 25/01), the German business confidence surged above expectations at 104.2 points. Previously, PMI manufacturing figures, both from Germany and also contributed to the euro zone rose above expectations. A series of these data directly support the movement of Euro.
'Enjoy the euphoria of Wall Street As Can'
Wall Street amid rise up the momentum in early 2013. However, this condition does not last long predicted overbought reason. Throughout the year, the S & P 500 has gained 5% or even 12% if calculated from a low level in November 2012. According to renowned investment expert, Marc Faber, the stock market is starting to look 'tired' and get down in the near future. "We're in a phase now overbought, there is the possibility of a mild correction in February," said Faber told CNBC. Nevertheless, he predicts that after a weak moment, the index will return to continue strengthening.
"The conditions could be like in 1987, when the stock price in the first half rose 41% and then dropped a total of as much as 40% in October and November," adds the author Gloom Boom & Doom Report this. Reflecting on the history, it is not possible stock price volatility throughout the rest of 2013. Although known as a pro-market analyst, Faber this time admitted that he had reduced stock portfolios in recent times. "I sell for fear of euphoria being built," he said. Furthermore, it appears that investors are increasingly bullish symptoms with U.S. equity performance. Inflows into stock-based mutual funds have surged to a record $ 55 billion in January. While sentiment survey also showed a positive bias for the stock price. "There is a possibility the issuer's earnings will disappoint in 2013. Potential geopolitical tensions also exist, particularly in the Middle East" Faber predictions. Faber now chose gold as a key asset which dominates its portfolio, in addition to the stock-based mining stocks. "I buy gold for fear that if we actually still in a systemic crisis, which remains to be the opposite," he described. The outer shares his predictions are capable of producing gain share of Ukraine, Vietnam and China.
Higher CPO Gains Into Week 4 Related Concerns Substitution
Malaysian palm oil futures contract moves to its highest close in four weeks on Wednesday is linked to expectations that the dry weather may disrupt harvests in Argentina and the migration of oil demand for cheaper food. Dry weather in Argentina, the world's No. 3 exporter of soy, has raised fears of supply and lifting prices, a potential shift to buying palm oil is currently trading at a discount of $ 300 per ton. "The rise in palm oil prices in recent days also supported external factors. Many investors believe that the price discount between CPO and soybean are still large, and this will affect the demand for palm oil, "said a trader at a commodities brokerage in Kuala Lumpur.
"The perpetrators of buying always switch to a cheaper option. Many people will take the opportunity. Oil prices are the lowest food is always popping up, "he added. Index of April contract on the Malaysia Derivative exhanges Malaysian ringgit rose to 2.493 (equivalent to $ 809) per tonne, its highest since January 4, before prices rose by 0.5% in the number 2.487 Malaysian ringgit per tonne in mid-day.
Hang Seng Sturdy at Level 21-month peak
Entering the second session in trading Wednesday (30/01), Hang Seng stock index rallied even reinforcement had reached the highest level since May 2011. Hang Seng is mainly due to the strengthening of sector stocks rebounded and consumer telecomunication after Wall Street closed higher overnight ended. In general, Hong Kong stock moving in positive territory mainly due to recovery of market sentiment after it was pessimistic about the prospects for global growth. The main Hang Seng Index rose 0.75% were recorded as +172.86 points or range 23821.24, after briefly rising to the level of 23916.16, the highest level in 21 months. Session Hang Seng fell due yesterday came news that Goldman Sachs would sell its stake in a number of banks listed in Hong Kong up to $ 1 billion for a share of ownership in Chinese banks.
SK Hynix Runway 'Technology' Kospi Rebound
In the middle of trade this week (Wednesday, 30/01) index Kospi - South Korea has witnessed a surge primarily due lifted by tech shares due to stock-based SK Hynix's earnings soared despite weaker than expected. SK Hynix shares rose 2.9 percent after the chip maker announced quarterly earnings that were positive due to the high demand of mobile device maker Apple. Strengthening Kospi today also propped up by data release industrial output rose this morning but still below the previous period. Most Korean investors today look eagerly look forward to the results of a policy meeting the Federal Reserve (the Fed) at midnight, which is expected to provide further clues about the economic stimulus plan. Then main Kospi index closed up 0.43% or +8.47 points in the range of 1964.43, while the Kospi climbed 1:30 futures too ended 259.20 points in the area.
Regional Market Earnings Affect Stock Performance
Earnings season in Korea and Japan also influence the ongoing movement of the Asian bourses today (30/01). Market reaction to the release of earnings is quite diverse, as seen in the performance of the index, as follows:
- Nikkei +1.8%
- S & P / ASX +0.2%
- HSI +0.7%
- Kospi +0.4%
- Sensex +0.2%
- Shanghai Composite +0.2%
- STI +0.5%.
In the forex market, the U.S. dollar strengthened slightly against the yen due to rising risk appetite associated Tokyo bourse gains, while market players await the release of U.S. economic growth data and the results of the FOMC meeting. USD / JPY is at 90.87 from 90.75 on Tuesday night (29/01) in New York. EUR / USD is at 1.3483 from 1.3492 and EUR / JPY at 122.54 from 122.40. South Korea's current account surplus fell to $ 2.25 billion in December from a record high at $ 6.91 billion in November, due to a weak stock performance auto, machinery and steel products imports. Throughout this year, the state has reported a surplus of $ 43.25 billion, slightly above the current BOK estimates at $ 43 billion. Production of Korea's industrial output in December rose 1.0% per month compared with a revised gain of 2.6% in November and the expected decline in the Dow Jones survey of 1.0%. Elections in Australia will be held on September 14. Japanese retail sales rose 0.4% per year in the month of December and recorded an increase for the second month.
The price of gold at $ 1,668.10, down $ 7.10 from the NY close. March Nymex crude oil futures contract was down five cents to $ 97.52/barrel.
'Enjoy the euphoria of Wall Street As Can'
Wall Street amid rise up the momentum in early 2013. However, this condition does not last long predicted overbought reason. Throughout the year, the S & P 500 has gained 5% or even 12% if calculated from a low level in November 2012. According to renowned investment expert, Marc Faber, the stock market is starting to look 'tired' and get down in the near future. "We're in a phase now overbought, there is the possibility of a mild correction in February," said Faber told CNBC. Nevertheless, he predicts that after a weak moment, the index will return to continue strengthening.
"The conditions could be like in 1987, when the stock price in the first half rose 41% and then dropped a total of as much as 40% in October and November," adds the author Gloom Boom & Doom Report this. Reflecting on the history, it is not possible stock price volatility throughout the rest of 2013. Although known as a pro-market analyst, Faber this time admitted that he had reduced stock portfolios in recent times. "I sell for fear of euphoria being built," he said. Furthermore, it appears that investors are increasingly bullish symptoms with U.S. equity performance. Inflows into stock-based mutual funds have surged to a record $ 55 billion in January. While sentiment survey also showed a positive bias for the stock price. "There is a possibility the issuer's earnings will disappoint in 2013. Potential geopolitical tensions also exist, particularly in the Middle East" Faber predictions. Faber now chose gold as a key asset which dominates its portfolio, in addition to the stock-based mining stocks. "I buy gold for fear that if we actually still in a systemic crisis, which remains to be the opposite," he described. The outer shares his predictions are capable of producing gain share of Ukraine, Vietnam and China.
Higher CPO Gains Into Week 4 Related Concerns Substitution
Malaysian palm oil futures contract moves to its highest close in four weeks on Wednesday is linked to expectations that the dry weather may disrupt harvests in Argentina and the migration of oil demand for cheaper food. Dry weather in Argentina, the world's No. 3 exporter of soy, has raised fears of supply and lifting prices, a potential shift to buying palm oil is currently trading at a discount of $ 300 per ton. "The rise in palm oil prices in recent days also supported external factors. Many investors believe that the price discount between CPO and soybean are still large, and this will affect the demand for palm oil, "said a trader at a commodities brokerage in Kuala Lumpur.
"The perpetrators of buying always switch to a cheaper option. Many people will take the opportunity. Oil prices are the lowest food is always popping up, "he added. Index of April contract on the Malaysia Derivative exhanges Malaysian ringgit rose to 2.493 (equivalent to $ 809) per tonne, its highest since January 4, before prices rose by 0.5% in the number 2.487 Malaysian ringgit per tonne in mid-day.
Hang Seng Sturdy at Level 21-month peak
Entering the second session in trading Wednesday (30/01), Hang Seng stock index rallied even reinforcement had reached the highest level since May 2011. Hang Seng is mainly due to the strengthening of sector stocks rebounded and consumer telecomunication after Wall Street closed higher overnight ended. In general, Hong Kong stock moving in positive territory mainly due to recovery of market sentiment after it was pessimistic about the prospects for global growth. The main Hang Seng Index rose 0.75% were recorded as +172.86 points or range 23821.24, after briefly rising to the level of 23916.16, the highest level in 21 months. Session Hang Seng fell due yesterday came news that Goldman Sachs would sell its stake in a number of banks listed in Hong Kong up to $ 1 billion for a share of ownership in Chinese banks.
SK Hynix Runway 'Technology' Kospi Rebound
In the middle of trade this week (Wednesday, 30/01) index Kospi - South Korea has witnessed a surge primarily due lifted by tech shares due to stock-based SK Hynix's earnings soared despite weaker than expected. SK Hynix shares rose 2.9 percent after the chip maker announced quarterly earnings that were positive due to the high demand of mobile device maker Apple. Strengthening Kospi today also propped up by data release industrial output rose this morning but still below the previous period. Most Korean investors today look eagerly look forward to the results of a policy meeting the Federal Reserve (the Fed) at midnight, which is expected to provide further clues about the economic stimulus plan. Then main Kospi index closed up 0.43% or +8.47 points in the range of 1964.43, while the Kospi climbed 1:30 futures too ended 259.20 points in the area.
Regional Market Earnings Affect Stock Performance
Earnings season in Korea and Japan also influence the ongoing movement of the Asian bourses today (30/01). Market reaction to the release of earnings is quite diverse, as seen in the performance of the index, as follows:
- Nikkei +1.8%
- S & P / ASX +0.2%
- HSI +0.7%
- Kospi +0.4%
- Sensex +0.2%
- Shanghai Composite +0.2%
- STI +0.5%.
In the forex market, the U.S. dollar strengthened slightly against the yen due to rising risk appetite associated Tokyo bourse gains, while market players await the release of U.S. economic growth data and the results of the FOMC meeting. USD / JPY is at 90.87 from 90.75 on Tuesday night (29/01) in New York. EUR / USD is at 1.3483 from 1.3492 and EUR / JPY at 122.54 from 122.40. South Korea's current account surplus fell to $ 2.25 billion in December from a record high at $ 6.91 billion in November, due to a weak stock performance auto, machinery and steel products imports. Throughout this year, the state has reported a surplus of $ 43.25 billion, slightly above the current BOK estimates at $ 43 billion. Production of Korea's industrial output in December rose 1.0% per month compared with a revised gain of 2.6% in November and the expected decline in the Dow Jones survey of 1.0%. Elections in Australia will be held on September 14. Japanese retail sales rose 0.4% per year in the month of December and recorded an increase for the second month.
The price of gold at $ 1,668.10, down $ 7.10 from the NY close. March Nymex crude oil futures contract was down five cents to $ 97.52/barrel.
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