Stock market to sustain winning streak this week Iris Gonzales (The Philippine Star) - August 6, 2018 - 12:00am MANILA, Philippines — The stock market is seen sustaining its winning streak this week as investors are likely to continue to scout for bargains. Jonathan Ravelas, market strategist at BDO, said a sustained climb above the 7,800 levels in the near term could retest the 8,000 mark. On the other hand, he said failure to stay above 7,800 could call for further losses toward the 7,500 levels. “Last week, the market barometer PSEi rose 1.53 percent week-on-week for the fourth straight week to 7,819.39 on foreign portfolio flows returning to the local markets as they find bargains on cheaper valuations of selected counters in the market,” Ravelas said. Astro del Castillo, managing director at First Grade Finance Inc., said foreign buying helped bring back investors into the market as domestic buyers also … [Read more...] about Stock market to sustain winning streak this week
Stock market bounce
Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by the COMMENTS: PAUL NOLTE, PORTFOLIO MANAGER, KINGSVIEW ASSET MANAGEMENT, CHICAGO, WHO OWNS APPLE: "Do we all get hats for this? To be honest, I don't know if it has any big implications. Apple is so different than the other tech stocks in the FAANG group... So I don't know if there are any implications for the FAANG group or technology in general because you had a really very uneven earnings season, with some issues unique to each of those companies, so it's hard to generalize. "I would expect to see the dividend increase, announced at their annual meeting. For those that hold Apple, it's reasonably priced here. We've owned it for three or four years now, and it's probably our second- or third-largest holding. I have trimmed it over the last 12 months just because it was large compared to the rest of the portfolio, so I may do that again if it continues to rise. If … [Read more...] about Instant View: Apple hits $1 trillion stock market valuation
SINGAPORE - Malaysian stocks and the ringgit were roiled on Monday (May 14), the first day of trading after a two-day market break imposed by Prime Minister Tun Mahathir Mohamad, who led the opposition coalition to a surprise election victory, raising concerns over campaign promises to drop a consumption tax and bring back fuel subsidies. Malaysia's Kuala Lumpur Composite Index (KLCI) fell 1.7 per cent immediately after trading opened, while its currency dropped 0.9 per cent, the most since November 2016. Moody's Investors Service and Fitch Ratings have warned of risks to the budget if the goods and services tax (GST) is abolished and not offset by other revenue-raising measures. Dr Mahathir's-led opposition coalition Pakatan Harapan (PH) had campaigned on a promise to scrap a consumption tax within its first 100 days in power, reintroduce petrol subsidies and review toll road concessions. In a press conference on Thursday, … [Read more...] about Malaysia stock market, ringgit bounce back from post-election jitters; removal of GST still among worries
High speed automated stock trading is being implicated in the extreme market volatility on U.S. benchmark indexes this week, but in Canada the impacts are harder to discern.“It’s certainly true that when you’ve got things moving faster there is more potential for a sell-off and a bounce-back,” said Richard Carleton, CEO of Toronto-based alternative bourse the Canadian Securities Exchange.But Carleton also noted that stock trading in general has become digital, with individual investors able to buy and sell securities over electronic networks. He added that so-called high-frequency trading, or HFT, where market orders can be processed in milliseconds is just one of many factors playing into the volatility. In the U.S., however, Treasury Secretary Steven Mnuchin told the House Financial Services Committee members this week that algorithmic trading, which uses automated pre-programmed instructions to execute large orders based on certain triggers, “definitely … [Read more...] about Is the wild stock market ride fuelled by the machines?
European stocks open in positive territory on Wednesday after big falls on Tuesday. The European market has been boosted by a recovery in the USA, where all major indexes closed higher on Tuesday evening. Global stock market sell-off appears to have paused. LONDON – European stock markets bounced back on Wednesday morning, as the global sell-off in equity markets took a breather following heavy losses. Overnight, the Dow Jones Industrial Average in the USA, gained more than 2%, having previously seen its biggest single day points sell-off in history on Monday.After opening down 568 points, the Dow surged more than 1,000 points intraday. The index of 30 large stocks including Apple and Goldman Sachs finished up 567 points, or 2.3%. That recovery spread to some parts of Asia, with Japan’s Nikkei and Australia’s ASX gaining ground on the day. Other Asian bourses, including the Shanghai Composite in … [Read more...] about European stocks recover as the global market sell-off pauses