• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
 
 
Major Global IndexesClosing Margin (%)
Dow Jones 8212.49 0.15S&P 500843.74 0.13UK:UKX 4121.11 -1.42Nikkei 225 8023.31 -4.92Hang Seng 13242.96 -3.37
Major Price Indicator
 
Closing Margin (%)
WTI Crude Oil
35.4 -5.04
COMEX Gold
807.3 -0.19
LME Copper
3280 -0.18
LME Aluminum
1480 -1.00
BDI Index
908 -1.30
Hong Kong Industries
 
Closing Margin (%)
CompositeEnterprise1245.64 -4.80Energy 6669.89 -4.73Service 1824.01 -3.83InformationTechnology783.45 -3.40TelecomService1445.42 -3.37
Performance in Recent 5 Days
---
 Hang Seng Index
----
SSE Composite Index
 
American Stock Market Slightly Advanced; while Bank Shares Performed StillWeakly
January 16, 2009
 
Global News & Information
By Global Capital Research Group 
Dow Jones Index advanced 12.35 points or 0.15% at8212.49 points as of closing.
On Thursday, American stock market rebounded aftertouching the bottom; Dow Jones Index advanced 12.35points or 0.15% at 8212.49 points; S&P 500 Indexmounted by 1.12 points or 0.13% at 843.74 points, whileNASDAQ Index went up by 22.20 points or 1.49% to1511.84 points.
European Central Bank cut rate again by 50 BP.
For increasing deflation risks and deteriorated economyin Euro zone, European Central Bank cut benchmarkinterest rate again by 50 BP to 2%, being the historiclow. European Central Bank had cut rate by 225 BPsince October 2008. Jean-Claude Trichet had statedbefore that decline of benchmark interest rate in Eurozone was limited and held his tongue for any sign of therate cut; however, with descending export, sluggishconsumption and shrinking credit, economy of the 16members in Euro zone slipped faster than expectation,thus European Central Bank had to cut rate again due toill-favored economic statistics. Jean-Claude Trichetstated that current inflation in Europe had been balancedin an extensive sense, which suggested hishelplessness for this rate cut.
Manufacturing indexes of Philadelphia FederalReserve and New York Federal Reserve were betterthan expectation.
In January, Manufacturing Index of Philadelphia FederalReserve was predicted at -35, actually -24.3, and it was-32.9 last time; Manufacturing Index of New YorkFederal Reserve was forecasted at -25.0, actually -22.2,and December correction was -27.88. These twoindexes both ascended compared with those of theprevious month and performed better than expectation,
 
 
which indicated American manufacturing shrinkage was getting better, yet sub-zero indexesshowed that American manufacturing was still shrinking.
Hedge fund redemption set the record in December 2008.
As reported in Financial Times, hedge fund redemption set the record in December 2008. Itaccounted for 10% of the total equity; large-scale funds withdrawal by investors had lasted forconsecutive four months and net outflow of hedge fund reached ~USD200bn in 2008. Due tothe redemption, fund managers had to dump stocks for emergency, thus average return ofhedge fund lost 21.7% in 2008, being the worst in recent 10 years.
Hang Seng Index plunged 461.65 points or 3.37% at 13242.96 points.
On Thursday, Hong Kong stock market opened low and took on the trend later on, while thedecline was narrowed during the second session. Hang Seng Index plunged 461.65 points or3.37% at 13242.96 points, while Hang Seng China Enterprises Index slumped by 176.68points or 2.45% at 7042.36 points.
Finance sub-index outperformed Hang Seng Index.
Finance sub-index outperformed Hang Seng Index and Chinese-funded financial sharesstrongly performed relatively. HSBC Holdings PLC (0005. HK) plummeted by 5.71% forconsecutive two days after the target price down-regulation by Morgan Stanley; this was arelatively low position in recent 10 years. Bank of China (601988) and Ping An Insurance(Group) Co of China (601318) surged by 2.63% and 2.25% respectively against the markettrend; China Construction Bank (601939), PICC Property & Casualty (2328.HK), Industrial andCommercial Bank of China (601398), Bank of Communications (601328), China LifeInsurance (601628) and China CITIC Bank (601998) declined by no more than 3%, whileChina Merchants Bank (600036) got frustrated at 4.79%.
Steel shares led the jump.
Promotion plan on auto & steel industry by the State Council provided impetus for the surge ofsteel shares, thus Angang Steel Company (000898) and Ma
’
anshan Iron & Steel Company(600808) both enjoyed over 4% growth.
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...