Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Wednesday, March 28, 2012

Global stock markets retreat

Yesterday rally was shortlived as Aussie plunges on renewed fear of China's slowdown and EU zone growth outlook. It was hovering at 105 US cents on Tuesday but now buying only 103.6 US cents

AUD slides against the MYR from RM3.22 to 3.175

Tuesday, March 27, 2012

Bernanke's speech moves stocks & commodities

Global equities and commodities rose on Bernanke's latest statement on continuing accomodative easing monetary policies to hasten economy recovery, real wages and job employment.
Commodity currency AUD rose from 1.045 to 1.053

Gold gain more than 2 % from 1660 to touch 1694 US dollar

Thursday, March 22, 2012

China factory activity falters. Aussie down.

BEIJING (Reuters Nick Edwards) - China's economic momentum slowed in March as factory activity shrank for a fifth straight month, leaving investors fretting about the risks to global growth and anticipating fresh policy support from Beijing.

The HSBC flash purchasing managers index, the earliest indicator of China's industrial activity, fell back to 48.1 from February's four-month high of 49.6. New orders sank to a four-month low, an expected rebound in export orders failed to emerge and new hiring slumped to a two-year low.

"With new export orders sluggish and domestic demand still softening, China's slow down has yet to finish. This calls for further easing to come from Beijing," HSBC chief China economist, Qu Hongbin, said in a statement.

Commodity currency Aussie plunging from 3.22 to 3.19 Ringgit

Aussie buys 1.035 US dollar

MHC plans bonus issues

MHC Plantation (nta 196, Q/Q 8.9/ 6.4/ 6.0/ 4.7) Fv RM2.10 has just made an announcement on the proposal to reward shareholders with two new shares bonus issue and free warrants for every existing five shares held. Shares price rose from RM1.60 to RM1.80

Wednesday, March 21, 2012

Gold still down but seen recovering

People asked if they should take profits on their holdings of physical gold that they have bought much earlier ...?
Well, the answer is yes if you are in dire need of cash or if you can quickly trade other financial instruments that can yield better profits on a short to medium term.
No if you're just cashing out and sitting on it.
Chartwise (first) on weekly timeframe, gold hasn't broken below the trendline that started in 2009 although it has dropped below the SMA50 (not indicated).

Second chart on a 4 hour timeframe shows gold suffered a double plunge from 1788 US dollar at end Feb and has descended to current level of 1655.
Let's see if gold can breakout from this pattern in the next few days ...

Monday, March 19, 2012

TM . Lower capex in 2012

The company, which allocated some RM1.4 billion in capital expenditure (capex) last year, expects slightly lower capex this year. “ This is critical as the government’s contribution for the RM11.3 billion HSBB project ends this year.

TELEKOM Malaysia Bhd (TM), the country’s largest fixed-line company, expects to spend about RM1 billion on high-speed broadband (HSBB) network next year, as it is banking on it to maintain its broadband leadership.

The project launched in 2008 is a public-private partnership in which TM is investing RM8.9 billion over 10 years while the government is coinvesting RM2.4 billion.

So far, the government has paid RM2.2 billion (of the RM2.4 billion) to TM. “There’s only like RM200 million left in terms of contribution from government,” added Zamzamzairani.
It means starting next year, TM will self-fund the continuous rolling out of HSBB network and demand will decide the rollout.

Under the HSBB agreement with the government, TM had agreed to blanket 1.3 million premises passes with its HSBB network by the end of 2012. To date, the company has covered about 1.18 million premises passes.
Besides rolling out HSBB network, capex will also be used to build a submarine cable connecting Peninsular Malaysia and Sabah and Sarawak, as well as expanding its fibre footprint there. The cost for the submarine cable has yet been finalised.

The launch of HSBB services is critical to TM’s future growth and to some extent, its survival. During the past years, the company has seen its fixed-line voice revenue declining.
Once its bread and butter, the voice business now contributes about 40 per cent of its total revenue. Non-voice businesses such as broadband constitute 60 per cent of TM’s sales.
Read more: TM expects lower capex for HSBB

Sunday, March 18, 2012

Bank Of America. Shares price double up.

Share price of BAC continue to rise after the release of US banks' stress test last Thursday. It was hovering at USD 5 last November and got a lot of attention from investors & traders alike who started accumulation from December...
It was selling for USD 8 last week before the release of the bank stress test result and thereafter rose to close at abt USD 9.80
Congratulations to those who bought in early and held todate. Happy investing ...

Friday, March 16, 2012

Gold inching up after plunge

Gold at US dollar 1660 level after plunging to as low as 1640.
My position before Tuesday's release of US economic data at USD1,710 level posted a weekly loss of approximately 3 %. I guess that's just bad market timing: should have waited till Wedsnesday or Thursday when they revealed the banks' stress test results... Oh well, we all have our lesson to learn .. Cheers ..

Wednesday, March 14, 2012

Dollar advances on growth data

The dollar gained against most of its major counterparts as stronger U.S. economic data boosted bets the Federal Reserve won’t add to monetary stimulus, bolstering demand for the currency…

Aussie sliding to 1.05 against USD

Gold plunges again from 1700 to 1670, posting a 1.8 % loss

Sunday, March 11, 2012

Aud slides against Myr while Gold recovers

Aussie dollar slides against Ringgit, posting a weekly loss of 1.6 %
A weaker Aussie means it will take more to buy Xau (Gold)

Gold now sells for 1620 Aussie dollar

Gold climbing to USD 1713.
I'm taking a long position on gold at this level

Tuesday, March 6, 2012

Gold continues to slide

Gold drops to 1672 US dollar

Gold sells for 1582 Aud

Aud tumbles against Myr at 3.19 level