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MARKET UPDATE
<Reminder: Always right-click on this webpage to refresh for updated information> 1) Market Daily Report*4 Dec 2008 (Thur) - Check out our next FREE Preview Service industries in the U.S. contracted the most in at least 11 years, and a measure of private payrolls showed job losses accelerated, signaling the economy’s decline deepened last month. Institute for Supply Management’s index of non- manufacturing businesses fell to 37.3 in November, the lowest level since records began in 1997. ADP Employer Services said companies eliminated 250,000 jobs, the most since November 2001. UK services index reported by Chartered Institute of Purchasing ad Supply dropped to 40.1 in November, the lowest since the gauge began in 1996. Nationwide Building Society said that consumer confidence fell to the lowest since at least 2004. In Europe, Royal Bank of Scotland Group Plc’s services index dropped to 42.5 in November from 45.8 in October, remaining below the expansion-threshold of 50 for a sixth straight month. Separate figures show retail sales declined 2.1 percent in October from a year earlier, the biggest drop since June. Market expects more room for rate cut today.
* This section is updated daily - Prepared by Market Research Team (MRT), APSRI. Sources: Bloomberg, Reuters, Thomson Financial -
2) Weekly Report** on Singapore Stock Market (week ending 28 Nov 2008) With stimulus package from China followed by interest rate cut of 1.08%, STI climbed up 70 points to close at 1,733 on 28 Nov. The rebound might bring STI back to the level of 2,000 again. At least from now, STI is able to stand above 1,700 by the close of this week. This week saw the selling of Keppel Corp on the news of possibility of order cancellation by three customers amounting to about $1.2 billion. Investors are concerned that similar thing may happen to other Semb Marine and other oil rig builders due to substantial fall of crude oil price to the level of US$50. Keppel Corp fell from 4.80 to 4.20 on Friday 28 Nov. ** This section is updated weekly - Prepared by JK Tan (Remisier) / Tel: (65) 65330004 / Email: tanjk@uobkayhian.com -
3) Weekly Economic Calendar You may monitor the weekly economic calendar listed below for your trading information quoted in adjustable EST (NY) time: http://www.forexfactory.com/calendar.php- EST time +13 hours will read the local time of Beijing, Hong Kong, Malaysia, Singapore and Perth. - EST time +12 hours will read the local time of Bangkok, Jakarta and Vietnam. - EST time +11 hours will read the local time of Dubai, Abu Dhabi. For beginners, ignore cross pairs and minor currencies. Pay special attention to the major pairs e.g. USD/JPY - U.S. news, EUR/USD - Germany news and finally the GBP/USD - U.K. news. NOTE: Remember that economic figures move market when the actual result is different to expected (forecast) data, but not measured to the previous data.
Disclaimers: The materials published in this webpage could be worth USD264 annually but was uploaded as free privilege to our loyal customers and associates. We distribute this daily material as general information only but do not make guarantee, representation or warranty as to its accuracy or completeness. No responsibility or liability will be accepted by APSRI or the authors. Users utilize at own risk. Thank you. Note #1: The Weekly FREE Report on global financial market will be privately emailed to our mail list for privileged purpose. To subscribe at ZERO cost and get a download for FREE ebook, quickly visit our <Contact Us> webpage at the bottom and opt-in for it.
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