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Thread: End of property boom in sight?

  1. #601
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Of course! Look! GDP Rebounded by 16.9%!
    Yup! Beyond anybody's expectation.

    Quote Originally Posted by RTT

    Singapore's Q1 GDP Expands At Faster-than-Anticipated Pace
    RealTimeTraders
    Thursday, 10 April 2008, 9:10:40am Singapore Time

    Singapore's real Gross Domestic Product grew 7.2% year-on year in the first quarter of 2008, a report published by Singapore's Ministry of Trade and Industry said. The first quarter growth was quicker than the 6.4% growth estimated by economists. The growth was spearheaded by strong growth in manufacturing sector, which in turn benefited from a rebound in the output of the bio-medical cluster.

    Advance estimates showed that GDP grew 7.2% in the first quarter of 2008 compared to the 5.4% growth in the fourth quarter. The real GDP rose a seasonally adjusted 16.9% on a quarterly basis after falling 4.8% in the previous quarter.

    The manufacturing sector grew at a faster pace of 13.2% in the first quarter compared to the 0.2% growth in the previous quarter. The growth in this sector was due to an expansion in the output of the biomedical-manufacturing cluster compared to a contraction in the previous quarter. The transport engineering sectors and precision engineering sectors grew moderately during this period.

    The construction sector grew at slower pace of 14.6% compared to the 20.3% growth in the previous quarter.

    The services producing industries rose 7.6% in the fourth quarter compared to the 7.7% growth in the previous quarter. In the services sector, financial services was the fastest growing sectors in the fourth quarter.

    The report indicated that the preliminary estimates for the first quarter including the performance of various sectors would be released in May 2008.

  2. #602
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Lehman Says It Liquidated Three Investment Funds

    By Ambereen Choudhury

    April 10 (Bloomberg) -- Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, said it liquidated three investment funds because of ``market disruptions.''

    The funds' assets, valued at $1 billion on Feb. 29, were taken onto Lehman's balance sheet, the New-York-based firm said in a Securities and Exchange Commission filing. The firm also bought ``certain deteriorated assets,'' with a value of $800 million, from other unidentified funds, Lehman said.

    ``The funds used the cash received from the company to either redeem investors in the funds or make alternative asset investments,'' Lehman said in the filing yesterday.

    More than 45 of the world's biggest banks, including Citigroup Inc. and UBS AG, have recorded a combined $232 billion in asset writedowns and credit losses since the beginning of 2007, including reserves set aside for bad loans. Falling U.S. house prices and rising delinquencies may lead to $565 billion in residential mortgage-market losses, the International Monetary Fund said in its annual Global Financial Stability report on April 8. Total losses, including those tied to commercial real estate, may reach $945 billion, the fund said.

    Lehman was little changed at $40.52 by 11:26 a.m. in Frankfurt trading, after closing at $40.54 in New York yesterday. The stock has dropped 38 percent this year.

    The liquidation of the funds was reported by the Wall Street Journal earlier today.

    Further Writedowns Seen

    Lehman may write down $2 billion in the second quarter and will face ``difficult'' market conditions this year, according to analysts at Deutsche Bank AG.

    ``While liquidity seems okay, we continue to expect more writedowns to equity and tougher revenues this year,'' analysts led by New York-based Mike Mayo wrote in a research note yesterday. Deutsche Bank rates the firm ``buy.''

    Revenue at Lehman will decline to about the level of 2005, when it totaled $14.6 billion, Mayo wrote. The 2007 net revenue was $19.3 billion. Lehman plans to reduce risk by selling 20 percent of its $75 billion in mortgage assets and cut leverage by the same amount, according to Deutsche Bank.
    OH MORE PAIN

  3. #603
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    OH MORE PAIN
    OHHH YESSSS.... My back hurts from carrying all the money I made from property... OHHHH IT HURTS.. OOHHHH

  4. #604
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    OHHH YESSSS.... My back hurts from carrying all the money I made from property... OHHHH IT HURTS.. OOHHHH
    OH YESS LOOKS LIKE THEY PAID YOUR SALARY IN 10 CENT COINS. IT SURELY WOULD BE HEAVY ASSUMING YOU EARN A FEW THOUSANDS SINCE YOU CAN AFFORD AN INTERNET LINE.
    OH LORD PRAY THAT HE WOULD BE PAID IN 2$ NOTES NEXT MONTH.

  5. #605
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    OH YESS LOOKS LIKE THEY PAID YOUR SALARY IN 10 CENT COINS. IT SURELY WOULD BE HEAVY ASSUMING YOU EARN A FEW THOUSANDS SINCE YOU CAN AFFORD AN INTERNET LINE.
    OH LORD PRAY THAT HE WOULD BE PAID IN 2$ NOTES NEXT MONTH.
    OH LORD ANOTHER COCK TALKING CORK HERE.

  6. #606
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Yup! Beyond anybody's expectation.
    Dow Jones up too.

    Quote Originally Posted by Reuters

    Technology and retail stocks fuel rally
    Kevin Plumberg
    Reuters
    New York, New York, U.S.
    Thursday, 10 April 2008, 4:31PM EDT


    Traders on the floor of the New York Stock Exchange, 18 March 2008. - Photo: Brendan McDermid, Reuters

    Stocks rose on Thursday after a brokerage upgrade of chip makers lifted technology stocks and on optimism that poor March sales may have been the low point for retailers this year.

    Intel Corp shares jumped 3% and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

    Retail shares rose as investors bet the business environment will improve should the current downturn reverse as expected in the second half of the year. The sector posted its weakest March monthly sales results for U.S. retailers in 13 years.

    Shares of Wal-Mart climbed 1% after the world's largest retailer raised its outlook, citing expense controls and fewer markdowns. The stock gained in spite of Wal-Mart posting March same-store sales growth that fell short of Wall Street's expectations.

    Tech shares also got a lift after JPMorgan Securities raised its profit forecasts on Apple Inc. The iPod maker's stock rose 2% and contributed the most to the Nasdaq 100's advance.

    "If you're optimistic about growth in the second half, then what is tied to growth and most successful in times of growth? Technology," said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co in San Francisco.

    The Dow Jones industrial average was up 54.72 points, or 0.44%, ending the day at 12,581.98. The Standard & Poor's 500 Index was up 6.06 points, or 0.45%, finishing at 1,360.55. The Nasdaq Composite Index was up 29.58 points, or 1.27%, at 2,351.70.

    General Electric Co rose 0.9% and was the second-biggest boost to the S&P on expectations that economic strength outside the United States would support the conglomerate's bottom line. GE closed at $36.75 on the NYSE.

    An easing in lending markets since mid-March when the Federal Reserve backed JPMorgan Chase's takeover of Bear Stearns has comforted investors, who have been slowly regaining confidence in stocks.

    Many investors have become more certain that the U.S. economy would slip into a recession during the first six months of 2008, but this has actually helped the stock market to recover.

    "It is good because we have moved from totally unknown territory to one where we think we know what is going on," said Jan Loeys, global head of asset allocation with JPMorgan, on a conference call.

    Wal-Mart's stock ended at $54.66, up 52 cents, or 1% on the New York Stock Exchange.

    The Dow industrials also benefited from a positive outlook from an economic bellwether, DuPont Co.

    DuPont's stock climbed 1.2% to $49.64 on the New York Stock Exchange after the chemical company raised its profit outlook and said strong growth in its agriculture businesses and emerging markets should help offset weakness in U.S. housing and automotive markets. For details, see

    Adding to investor confidence, Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said on Thursday that financial markets are likely in the late stages of the credit crisis that began last summer.

    Intel's stock gained 3.1% to $22.08 on the Nasdaq.

    Apple shares rose 2.1% to $154.55 after JPMorgan Securities raised its second-quarter and 2008 estimates for the company.

    Volume on the New York Stock Exchange was modest with 1.29 billion shares changing hands, down from last year's daily average of 1.90 billion shares. On Nasdaq, 2.20 billion shares traded, slightly above last year's daily average of 2.17 billion.

    Advancers beat decliners by a ratio of about 5 to 3 on the NYSE. On Nasdaq, about three stocks rose for every two that fell.

  7. #607
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    OH LORD ANOTHER COCK TALKING CORK HERE.
    Oh the 4th one.

  8. #608
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Dow Jones up too.
    Oh the deception. More and more being sucked on a dead cat bounce. Market is dead. Moron's sucked in. Lord save them.

  9. #609
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Oh the deception. More and more being sucked on a dead cat bounce. Market is dead. Moron's sucked in. Lord save them.
    Oh the reality. More and more sour grapes refuse to acknowledge the increase and growth. Market is surging. Morons refuse to face the reality. Lord save them.

  10. #610
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Oh the deception. More and more being sucked on a dead cat bounce. Market is dead. Moron's sucked in. Lord save them.
    Quote Originally Posted by Unregistered
    Oh the reality. More and more sour grapes refuse to acknowledge the increase and growth. Market is surging. Morons refuse to face the reality. Lord save them.
    2 cocks making baseless sweeping statements.

  11. #611
    Unregistered Guest

    Default Re: End of property boom in sight?

    Japan Wholesale Prices Rise; Fastest Pace in 27 Years )

    By Keiko Ujikane

    April 11 (Bloomberg) -- Japan's wholesale prices rose at the fastest pace since 1981, pushed by higher fuel and food costs, highlighting concern inflation may accelerate even as the economy slows.

    Producer prices climbed 3.9 percent in March from a year earlier, after a revised 3.6 percent increase in February, the Bank of Japan said in Tokyo today. The median estimate of 27 economists surveyed by Bloomberg News was for a 3.5 percent gain.

    Higher energy and raw-material costs are threatening profits at companies including Nippon Steel Corp. Bank of Japan Governor Masaaki Shirakawa said this week that rising oil and commodity prices are slowing growth in the world's second-largest economy.

    ``There's growing concern over bad inflation, which will slow the economy,'' said Susumu Kato, chief economist at Calyon Securities in Tokyo. ``Rising energy and raw-material costs are hurting companies' profits and higher food prices are weighing on consumer spending.''

    The yen traded at 101.78 per dollar at 9:02 a.m. in Tokyo, from 101.77 before the report was released.

    Nippon Steel, the world's second-biggest maker of the alloy, this week agreed to pay BHP Billiton Ltd. and Mitsubishi Corp. three times more for coking coal this year.

    The jump in prices for the steelmaking material will add about 3 trillion yen ($30 billion) to costs for Japan's blast furnace mills, Hiroshi Nakashima, a spokesman for the Tokyo-based company, said this week. Nippon Steel and its biggest domestic rivals have said profit probably fell in the year ended March 31 because of soaring prices for iron ore and coking coal.

    Losing Steam

    Reports in the past month indicate that the world's second- largest economy is losing steam. Machinery orders fell in February, confidence among Japan's largest manufacturers dropped to a four-year low and production declined for a second month.

    Higher costs of oil and food are prompting some companies to raise prices and forcing consumers to absorb them.

    Prices of often-purchased goods such as bread and milk climbed 2.5 percent, more than twice the pace of overall prices, a Bank of Japan survey showed last week.

    Yamazaki Baking Co. will raise prices of bread, cakes and sweet buns by around 8 percent next month after increasing them for the first in 17 years in December, the company said this week. The government raised wheat prices 30 percent this month.

    Japan's core consumer prices, which exclude fruit, fish and vegetables, climbed 1 percent in February from a year earlier, the fastest pace in a decade, a report showed last month. Crude oil rose to a record $112.21 a barrel on April 9.

    The yen's 10 percent gain against the dollar this year may ease some of the impact of higher costs by making imports cheaper.

    ``Inflation on the wholesale level is set to remain high for now,'' said Hiroshi Shiraishi, an economist at Lehman Brothers Japan Ltd. in Tokyo. It's ``unlikely that the rate of increase in corporate goods prices will accelerate much further, given that production growth will likely slow and yen appreciation will mitigate import price inflation.''
    OHH THE PAIN TO COME.....

  12. #612
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by AFP

    Japan current account surplus up 2.9%
    Agence France-Presse
    Tokyo, Japan
    Thursday, 10 April 2008

    Japan's current account surplus grew 2.9% in February from a year earlier, as higher income on overseas investments offset slower exports to the US, the government said on Thursday.

    The nation with the world's second-largest economy had a surplus of 2.47 trillion yen (S$33.6 billion) in February in the current account, the broadest measure of trade in goods and services, the finance ministry said.

    The figure was in line with market expectations.

    The trade balance alone fell 6.6% to 1.03 trillion yen. Exports rose 9.0% to 6.67 trillion yen, while imports increased 12.5% to 5.63 trillion yen.

    Although exports to the United States have been curbed by the US economic turmoil, shipments to Europe and the rest of Asia remain robust, the government said.

    The services account deficit widened to 152.0 billion yen from 84.5 billion yen from a year earlier.

    The surplus in the income account increased to almost 1.68 trillion yen from 1.47 trillion yen, as firms and households enjoyed higher returns on overseas investments.

    The capital and financial account, which measures international fund flows, registered an outflow of 2.62 trillion yen compared to 1.76 trillion yen a year earlier.

    Historically, Japan has run a large surplus in its current account, which measures the flow of goods, services and investment income.

    Although Japan's economy was seen recovering from a slump stretching back more than a decade, sluggish consumer spending and fallout from the US credit market crisis is expected to slow Asia's largest economy this year.
    Cheong ah!

  13. #613
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Dow Jones up too.
    DOW WOW WOW
    SAID THE MORON NOW
    LITTLE DOES HE KNOW
    THAT EVERYTHING GOING LOW
    JAPAN US AND CHINA SINK
    BUT THE MORON CAN HE THE NEWS LINK?
    HAD A CHANCE TO DUMP AND RUN
    BUT HE HANGS AROUND TO WATCH THE FUN
    O LORD SAVE HIM FROM THE MISERY
    BECAUSE HE IS ON A SLOPE SLIPPERY
    CRASH CRASH SPLASH SPLASH THUD THUD
    WHAT MORE CAN WE SAY ABOUT THE DUD!!!

  14. #614
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    DOW WOW WOW
    SAID THE MORON NOW
    LITTLE DOES HE KNOW
    THAT EVERYTHING GOING LOW
    JAPAN US AND CHINA SINK
    BUT THE MORON CAN HE THE NEWS LINK?
    HAD A CHANCE TO DUMP AND RUN
    BUT HE HANGS AROUND TO WATCH THE FUN
    O LORD SAVE HIM FROM THE MISERY
    BECAUSE HE IS ON A SLOPE SLIPPERY
    CRASH CRASH SPLASH SPLASH THUD THUD
    WHAT MORE CAN WE SAY ABOUT THE DUD!!!
    Ha ha! Maddog/tigersee, the foreigner who can't afford condo, has gone mad!

  15. #615
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Ha ha! Maddog/tigersee, the foreigner who can't afford condo, has gone mad!
    MADDOG, TIGERSEE, FOREIGNER
    WHO KNOWS THIS GOD SENT MESSENGER?
    CAME AS AN ANGEL OF LIGHT
    TO WARN US OF THE MARKETS COMING PLIGHT
    RIDICULED BY FREAKS AND MORONS
    YET HE GIVES ADVICE WISER THAN SOROS
    LET US GIVE GIVE HIM THREE CHEERS
    INSTEAD OF THE MANY JEERS
    KEEP ON THE GOOD WORK DEAR!!!

  16. #616
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    MADDOG, TIGERSEE, FOREIGNER
    WHO KNOWS THIS GOD SENT MESSENGER?
    CAME AS AN ANGEL OF LIGHT
    TO WARN US OF THE MARKETS COMING PLIGHT
    RIDICULED BY FREAKS AND MORONS
    YET HE GIVES ADVICE WISER THAN SOROS
    LET US GIVE GIVE HIM THREE CHEERS
    INSTEAD OF THE MANY JEERS
    KEEP ON THE GOOD WORK DEAR!!!
    Ha ha ha! Maddog/tigersee, the foreigner who can't afford condo, has gone madder this time!
    He thinks he is an angel and wiser than anybody else! Ha ha ha!

  17. #617
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    GE Says Profit Fell, Citing Finance; Forecast Reduced

    By Rachel Layne

    April 11 (Bloomberg) -- General Electric Co. unexpectedly reported its first quarterly profit decline since 2003, sending U.S. and European stocks lower, as the credit market's seizure spread to the world's third-largest company by market value.

    GE dropped as much as 12 percent in New York trading, the most since the October 1987 market crash. The decline wiped out as much as $42.2 billion in market capitalization, or more than the 2006 gross domestic product of Ecuador.

    Chief Executive Officer Jeffrey Immelt cut the annual forecast he had once told investors was ``in the bag'' for 2008 and repeated as recently as March 13. GE now says capital markets seized up just days later, forcing it to cut the value of some securities in the last two weeks of the quarter and blocking some asset sales. The Federal Reserve's March 14 move to help rescue Bear Stearns Cos. created ``a different world,'' he said today.

    ``We hate disappointing investors,'' Immelt said on the GE- owned CNBC television network. ``It's not part of the company. It's not part of the culture. We take accountability for that.''

    Profit from continuing operations dropped to $4.36 billion, or 44 cents a share, from $4.93 billion, or 48 cents, a year earlier. Revenue rose 8 percent to $42.2 billion, less than GE's prediction of about $44 billion. GE was expected to earn 51 cents a share, the average of 15 analyst estimates in a Bloomberg poll.

    ``You're shocked'' by such results, Benjamin Pace, chief investment officer of Deutsche Bank Private Wealth Management in New York, told Bloomberg Television.

    Shares Plummet

    The stock dropped $4.23, or 12 percent, to $32.52 at 11:25 a.m. in New York Stock Exchange composite trading. The shares had fallen less than 1 percent this year compared with a 7.3 percent decline in the Standard & Poor's 500 index.

    On a conference call today, analysts demanded that Immelt explain why he told retail investors on a March 13 Webcast that Fairfield, Connecticut-based GE would likely meet its annual forecast of at least $2.42 a share.

    ``Two days after the Webcast, the Bear Stearns situation took place,'' Immelt said. ``The last two weeks in March were a different world in financial services.''

    The market turmoil also prevented GE from selling some finance assets, Immelt said. GE put its U.S. credit card business and Japanese consumer finance units up for sale last year. The health-care unit also trailed expectations.

    The U.S. may be near a recession because of a slump in housing prices and a tightening of credit markets. Some members of the Fed's rate-setting Open Market Committee said at their March 18 meeting that they saw the risk of a ``prolonged and severe downturn'' in the U.S. economy, the world's largest.

    `Biggest Misses'

    ``This is one of the biggest misses that GE's had in quite some time,'' said Nicholas Heymann, an analyst with Sterne Agee & Leach Inc., in an interview today. ``The pressure is on like it's never been on before for all senior management at GE.''

    GE missed its own forecasts for its commercial and consumer finance units. That cut per-share profit by 5 cents and resulted in a lowered full-year forecast of $2.20 to $2.30 a share, down from the previous forecast of at least $2.42. Immelt had told investors in December that $2.42 a share was ``in the bag.''

    ``The quarter was disappointing,'' James Hardesty, president of Hardesty Capital Management in Baltimore, told Bloomberg Television. ``It does reflect a rather sharp economic slowdown that seems to be occurring in the U.S.''

    Finance units may have a profit decline of 5 percent to 10 percent this year and non-financial units will increase 10 percent to 15 percent. That makes total profit little-changed to up 5 percent, GE said in its statement.

    Didn't See It Coming

    ``This is something that we clearly didn't see until the end of the quarter,'' Immelt said on the conference call. ``What we did is try to reflect on that, not make excuses and take appropriate actions. The company's fundamentals remain strong. We believe that the strategy and the fundamentals remain strong.''

    GE Healthcare, the world's biggest maker of medical imaging equipment, had a profit decline of 17 percent, below the predicted 5 percent rise. GE hasn't shipped its OEC X-ray machines from a plant for 20 months as it works to comply with an FDA consent decree. That cost about 1 cent a share, Immelt said.

    GE Infrastructure, the largest of the six main segments, has units that focus on oil and gas equipment, jet engines, locomotives, power-turbines, water-treatment and aircraft leasing. Its revenue climbed 23 percent, more than forecast, driving a 17 percent increase in earnings, which matched GE's prediction.

    Downgrades

    Analysts at Goldman Sachs Group Inc. and Credit Suisse Group both cut GE's rating to ``neutral'' today. Fourteen analysts recommend buying the stock, and six suggest holding it. None recommend selling. Before today's earnings announcement, 16 analysts rated the stock a ``buy'' and four rated it ``hold.''

    ``There's probably a very good buy in here,'' Joseph Keating, chief investment officer of First American Asset Management in Birmingham, Alabama, said in an interview with Bloomberg Television. His firm manages $3 billion, including GE shares. ``They have a worldwide franchise in industrial products and with the decline of the dollar, their products are competitive worldwide.''

    The cost of protecting bonds of GE, the biggest U.S. corporate borrower, reached the highest in almost two weeks. Credit-default swaps on GE's General Electric Capital Corp. increased 10 basis points to 131 basis points, according to broker Phoenix Partners Group in New York. The contracts have about doubled this year as the credit-turmoil that started in the U.S. housing market led investors to flee everything from commercial paper to leveraged loans.

    Investors and analysts asked Immelt to assure them that GE's ability to forecast, and strategy as a whole, remained intact and whether this surprise decline eroded GE's reputation as a safe investment.

    ``I understand your frustration,'' Immelt said. ``I'm not going to be defensive about it, this is a company that's delivered for a long time. The franchise of the company is very strong. And I feel the same about the strategy of the company.''
    Wow what did you just say?
    GE had the biggest fall since 1987? You can't be kidding. GE is all about world economy. You mean eqvivalent amount to Equador's GDP wiped out in a few minutes? Tell me you are kidding....for God's sake. I have a weak heart.

  18. #618
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Reuters

    Nikkei ends up 2.9%, led by Retailers on Positive Outlooks
    Taiga Uranaka
    Reuters
    Tokyo, Japan
    Friday, 11 April 2008

    Japan's Nikkei average rose 2.9% on Friday, snapping a three-day losing streak, with retailers Fast Retailing Co and Seven & I Holdings jumping on solid profit outlooks.

    Japan's second-largest bank Mizuho Financial Group extended gains after disclosing additional subprime-related trading losses.

    "Mizuho shares were bought as investors saw negative news as having run its course for the time being. The market had priced in subprime problems to a considerable degree," said Harushige Kobayashi, head of the research department at Maruwa Securities.

    High-tech shares such as Advantest Corp advanced after their U.S. peers lifted Wall Street on a brokerage upgrade of chip makers.

    "The previous three days' losses were caused by trades in connection with SQ. Now, with that over, the lid on the market is off," said Katsuhiko Kodama, senior strategist at Toyo Securities.

    The closely watched settlement price, known in Japan as the special quotation or "SQ", is calculated from the opening prices of the 225 shares on the Nikkei average on the second Friday of the month.

    The price for options contracts expiring in April is likely to have come to 13,129.58, according to market sources.

    The benchmark Nikkei ended up 2.9% at 13,323.73. The index gained 0.2 percent for the week.

    The broader TOPIX index added 2.5% to 1,278.62.

    Retailers High

    Shares of Fast Retailing jumped 5.2% to 10,100 yen, the biggest contributor to the Nikkei, after the retailer raised its full-year operating profit forecast by 10% to 80.1 billion yen on the back of a recovery at its Uniqlo casual-clothing chain.

    Seven & I Holdings shot up 11.6% to 2,895 yen after Japan's largest retailer said it would buy back and cancel up to 170 billion yen of its shares and Mitsubishi UFJ Securities lifted its rating on the stock to "1" from "2", saying the shares are cheap considering an expected improvement in return on assets.

    Seven & I posted its first drop in full-year operating profit in six years, hit by weak consumer spending and tough competition, but it forecast a recovery this year as it closes unprofitable outlets.

    Daiei Inc jumped 13.7% to 631 yen after the supermarket operator said it expects its operating profit this business year to rise 24.6% to 18 billion yen, better than a forecast of 13.6 billion yen in a poll of three analysts by Reuters Estimates.

    "Investors' buying interest is turning towards domestic, non-manufacturing sectors since they're less affected by the stronger yen," said Maruwa's Kobayashi.

    Mizuho extended gains, ending up 5.2% at 407,000 yen, after the banking group said during the midday break that it expected 400 billion yen ($3.9 billion) of subprime-related trading losses at its unlisted brokerage, Mizuho Securities, for the year ended in March.

    The bank said it now expects a net profit of 310 billion yen ($3.1 billion) for the year to March 2008, down nearly 60% from its original estimate of 750 billion yen.

    Takeda Pharmaceutical Co Ltd fell 2% to 5,300 yen, becoming the biggest drag on the Nikkei 225, after news of its $8.8 billion acquisition of U.S. biotech company Millennium Pharmaceuticals Inc in the biggest overseas buyout by a Japanese drugmaker.

    Technology shares gained, with Advantest, the world's largest maker of microchip testers, up 5.3% at 2,795 yen.

    On Thursday, Intel Corp shares jumped and helped lift all three major U.S. stock indexes after Banc of America Securities upgraded the U.S. semiconductor sector, saying a modest inventory buildup has eased.

    Trade was moderate on the Tokyo exchange's first section, with 2 billion shares changing hands, compared with last week's daily average of 1.9 billion.
    Positive outlook is good.

  19. #619
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Reuters

    HK shares jumps 2% to 2-month high as Chinese banks lead way
    Judy Hua
    Reuters
    Hong Kong SAR
    Friday, 11 April 2008

    Hong Kong stocks rose 2% to a 2-month closing high on Friday, tracking higher overseas markets, with financial plays leading the gains as Chinese banks flagged rosy profit forecasts.

    Investors are cautious, however, as they await key economic data from China and the United States, as well as quarterly results from major U.S. financial institutions next week to gauge the outlook for the global economy.

    "China's stock market is still soft and lacks momentum even though it has stablised," said KGI Asia Ltd associate director Ben Kwong. "Investors are waiting for major economic data to assess if there is further need for tightening."

    "Technically, the (Hong Kong) market is quite resilient," he said, adding that he expected short-term support at 23,900.

    The benchmark Hang Seng Index ended 480.69 points higher at 24,667.79. The China Enterprises Index of Hong Kong-listed mainland companies , or H shares, gained 2.76% to 13,357.12.

    Mainboard turnover rose to HK$77.14 billion ($9.9 billion) from HK$74.81 billion.

    Chinese banks jumped after they estimated sharply higher first-quarter earnings due to higher interest on consumer lending as Beijing grants lenders more flexibility in pricing loans.

    China Merchants Bank closed up 4.6% at HK$29.85 after it estimated that net profit surged at least 140% in the first quarter of this year.

    China Construction Bank rose nearly 2.8% as investors expect it to post strong earnings after the market close.

    Industrial and Commercial Bank of China, the country's largest bank and the most active stock for the day, climbed 2.8%, while smaller rival Bank of Communications soared 5%.

    Another bright spot was China Coal Energy, the country's No.2 coal producer, which jumped more than 5% to HK$15.94 after Citigroup upgraded it to buy from hold as it plans to sell more coal on domestic spot market this year, which should drive margins.

    Offshore oil specialist CNOOC Ltd rose 4.6% and its bigger rival PetroChina climbed 2.8% after they signed landmark deals to buy liquefied natural gas from top LNG exporter Qatar.

    TPV Technology, the world's largest maker of PC monitors, jumped 4%to HK$5.24 after JP Morgan upgraded it to overweight from neutral on margin improvement and likely market share gain.

    But mobile phone and electronics components maker BYD bucked the broad market trend, tumbling as much as 12% to close at HK$12.90 after its Taiwanese rival, Hon Hai Precision Industry, said BYD's vice president Xia Zuoquan had been detained.

    CLSA downgraded BYD to underperform from buy, citing accelerating legal disputes between BYD and Foxconn International over alleged patent infringement. Foxconn jumped 7.3% to HK$11.70.

    Kingdee International Software Group Ltd, China's second-largest designer of software, fell 11 percent to HK$6.84 after the company and its chairman sold up to $21.5 million worth of shares.
    Wow! Surged 2%? Can fight with Nikkei.

  20. #620
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by 联合早报

    中国一游客用银联卡 一天在本地消费60万元 ($600,000)
    联合早报
    2008-04-11

    人民币不断升值,鼓励越来越多中国旅客出境旅游。接受银联卡消费,将成为本地商家提升业绩的“润滑剂”。中国银联人士透露,有中国游客一天内在新加坡用多张银联卡消费了60万新元(S$600,000)!

    中国银联国际业务总部副总裁黄兴海昨天在第13届卡和付费亚洲峰会(Cards & Payments Asia)指出,人民币缓慢增值的趋势,意味着人民币越来越值钱,也促进中国居民出境旅游和消费。“我认为这完全是好现象,因为中国旅客带来的商机很大,对新加坡旅游业、银行、商户都是好事情。”

    尽管没有具体数据能说明自“破八”(跌破一美元兑八元人民币心理关卡)以来,人民币升值在多大程度上使银联卡业务受惠,黄兴海承认,中国银联是人民币升值的受益者,“对我们肯定有利”。

    香港、澳门、新加坡是中国旅客的主要旅游地,这些以华人为主的城市对银联卡的接受度要高于欧美城市。目前,每年到访新加坡的中国旅客都超过100万人次,是新加坡第二大外国旅客来源,每年消费额超过18亿新元。根据保守估计,未来十年中国旅客出境旅游人数,每年将以10.4%速度增长。

    中国银联自2005年1月开始,与星网电子付款公司(NETS)成为合作伙伴,目前本地星展银行、大华银行及花旗银行的自动提款机,都接受银联卡提款交易,覆盖率近100%。

    中国银联新加坡代表处首席代表杨建民说,过去,中国游客经常随身携带大量现金,在外国匪徒眼里是“流动提款机”,经常遭抢劫。使用银联卡,既方便又安全。

    中国银联新加坡高级市场代表刘裕德指出,中国政府规定出境不能携带超过两万元人民币或6000美元的现金,而信用卡又有消费额度限制。

    “银联卡提供另一种消费渠道。如果商户不接受银联卡,顾客走进他们商铺的消费能力,就取决于身上的现金有多少;如果可以使用银联卡,他们的消费能力就无限扩大。比如,一名顾客要买一件昂贵的商品,只要一通电话让亲友把钱存入他的银行账户,马上就可以转账。”

    杨建民透露,去年到访新加坡的中国旅客比前年增加了9万人次,但通过银联卡消费的业绩却上升了近80%。该公司的消费记录显示,曾有一名中国旅客刷银联卡,买走了一只价值20万新元的名贵手表。“还有人通过两、三张银联卡,一天之内就在乌节路上多家商场消费了60万元。”

    中国银联成立于2002年3月,总部设在上海,是全中国统一的银行卡跨行交易清算系统。截至2007年底,中国境内发卡机构有150多家,发卡总量超15亿张,同时在中国旅客常去的26个国家和地区获得接纳。
    Quote Originally Posted by Unregistered
    ... China RMB getting very very strong ... Chinese getting very very rich
    ... Singapore getting very cheap ... Singapore goods are very reliable
    ... so record number of Chinese tourists come to Singapore

    ... they keep buying things like there is no tomorrow ...
    ... tourism receipts from Chinese tourist is at record high ...

    ... one Chinese tourist spent S$600,000 in one day ...
    They are here to buy buy buy.
    We have better buy buy buy before they try try try.

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