Author Topic: Latest News & Views : International  (Read 70814 times)

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um@ir

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Latest News & Views : International
« Reply #-1 on: October 06, 2008, 06:39:25 PM »
Post All international News Effecting Socio, Political and Economic Environment.
« Last Edit: July 06, 2012, 11:38:53 AM by M&M »

Pakinvestorsguide

Latest News & Views : International
« Reply #-1 on: October 06, 2008, 06:39:25 PM »

Offline Admin

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Re: Latest News : International
« on: October 07, 2008, 12:35:17 PM »
Asian markets show signs of life after global rout By KELLY OLSEN, AP Business Writer
1 hour, 35 minutes ago
 


SEOUL, South Korea - Asian stocks showed signs of life Tuesday after a global market sell-off, with several markets climbing into positive territory or paring losses after opening sharply lower.

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Australian stocks jumped after the country's central bank cut interest rates by a bigger-than-expected 1 percentage point to 6 percent in response to the unfolding global financial crisis. The S&P/ASX-200 index rose 2 percent to 4,634 after opening down 3.7 percent.

Japan's benchmark Nikkei 225 index erased some losses after briefly falling over 5 percent to below 10,000 for the first time in almost five years. By midday, it was trading about 1.7 percent lower at 10,292.

Markets in South Korea, India, Singapore and Taiwan all edged higher. Trading in Hong Kong was closed for a holiday.

The Bank of Japan announced it was keeping its interest rates unchanged at 0.5 percent, as expected. However, there is growing speculation that the central bank may soon coordinate with the U.S. Federal Reserve and the European Central bank in an emergency policy move.

Investors in Japan said they were encouraged by a late day rally on Wall Street Monday as well as overall sentiment that stocks had fallen too far too fast, said Toshikazu Horiuchi, equity strategist at Cosmo Securities.

"There was a sense that the market was oversold," he said.

The Dow Jones industrial average, down more than 800 points at one point Monday, recovered in the final 90 minutes of the session to finish down 370 points, or 3.6 percent, to 9,955.50, its first close below 10,000 since 2004.

Still, traders were jittery amid signs that the credit crisis was spreading to Europe, where troubled banks have needed bailouts.

"It's very hard to anticipate how long the repair job is going to take across financial markets at the moment," said Jamie Spiteri, senior dealer at Shaw Stockbroking in Sydney.

In Europe on Monday, leading bourses were battered. London's FTSE 100 index slid 7.9 percent and France's CAC-40 sank a stunning 9 percent, its worst performance ever.

In Japan, carmakers were among the biggest losers, partly due to the dollar's drop to 101 yen levels. Nissan Motor Co. fell 3.9 percent, and Toyota Motor Corp. slid 3.8 percent.

In South Korea, investors steadily bought back shares after the sharp early drop, with the Kospi gaining 0.5 percent in early afternoon trading.

Shim Jae-youb, a strategist at Meritz Securities in Seoul, also said that the Dow's late rally Monday was providing some comfort to investors.

Expectations that leading central banks might lower interest rates would be welcome, he said.

Such a move would provide "positive momentum to the stock market," Shim said.

Offline Farzooq

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Re: Latest News : International
« Reply #1 on: October 08, 2008, 07:16:38 PM »
discuss about international stocks exchanges shares and trends
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Offline Honda 125

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Re: Latest News : International
« Reply #2 on: October 09, 2008, 09:41:44 AM »
Oil down over $3
 
 
 
Thursday, October 09, 2008
LONDON: Oil prices fell by more than $3 on Wednesday after US government data showed a big increase in crude stocks and a big drop in demand, underlining expectations economic weakness will erode fuel consumption.

In volatile trade, the market had earlier fallen by more than $4 to a 10-month low and then briefly rose into positive territory after news of a wave of US-led interest rate cuts designed to shore up the global economy. US light crude for November delivery was down $3.01 at $87.05 a barrel by 1514 GMT. London Brent crude fell by $2.66 to $82.00.

Data from the Energy Information Administration showed US crude stocks had risen by 8.1 million barrels as inventories recovered from storm disruptions, much more than the 2.3 million-barrel build forecast by analysts. It also showed gasoline stocks had increased by 7.2 million barrels compared with forecasts for a 1.1 million rise, while total demand for products over the past four weeks was down by 8.6 per cent compared with a year before.

“Inventories are recovering off the back of the hurricane, and we’re rebuilding lost barrels from the last three weeks.” said Mark Kellstrom, an analyst at Strategic Energy Research. “It looks negative for the crude market but inventory levels are still on the low side, and we would argue that it’s more than discounted in the price of crude oil.”

Offline Honda 125

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Re: Latest News : International
« Reply #3 on: October 09, 2008, 01:58:06 PM »
Rate cuts steady Asian markets


HONG KONG ( 2008-10-09 12:12:16 ) :Central banks in Asia followed in the steps of the United States and Europe Thursday, cutting key interest rates in a bid to bring calm to panicked global markets and limiting massive losses.

Japan injected a further 40 billion dollars into the money markets, while Hong Kong slashed its key rate by a half percentage point, matching cuts by the US and European central banks on Wednesday.

Taiwan and South Korea also shaved 25 basis points off their key rates.

The crisis measures prompted an initial market rebound, with the Tokyo Stock Exchange's benchmark Nikkei-225 index rising into positive territory for the first time in a week before closing down 0.5 percent.

Panic selling on Wednesday sent Tokyo to a 9.38 percent drop -- its worst day since the October 1987 stock market crash.

Hong Kong's Hang Seng Index rose 2.65 percent in afternoon trade, recovering some of its recent losses as bargain-hunters took advantage of a market down 15 percent on the week.

Australian shares, however, closed down 1.5 percent and there were warnings of more bad news ahead, with the world in the grip of the worst financial crisis since the Great Depression.

US Treasury Secretary Henry Paulson warned more financial institutions were expected to go under in the United States, while the International Monetary Fund warned of a "major downturn" for the global economy.

Wall Street on Wednesday dropped 2.01 percent after a highly volatile session. The Dow Jones Industrial Average has now shed 14.7 percent over the past six trading days.

On Wednesday the US Federal Reserve, the European Central Bank, Bank of England and central banks in Sweden and Switzerland all cut their interest rates Wednesday by half a percentage point.

China joined in, too, cutting 27 basis points off its key rate.

In a statement, the central banks said they were locking arms in "unprecedented joint actions, such as the provision of liquidity, to reduce strains in financial markets".

"It was a very good way to underline the concerns and the shared concerns," Bank of America analyst Peter Kretzmer told AFP in New York. "In that way, it helps."

The rate cuts -- and a separate move by Britain to pump 87 billion dollars into its major retail banks -- were meant to restore some confidence after a wave of spectacular bank failures in Europe and the United States.

Despite a staggering 700-billion-dollar US bank bailout that cleared Congress last Friday, Treasury Secretary Paulson warned that more financial institutions should be expected to go under.

"One thing we must recognise -- even with the new Treasury authorities, some financial institutions will fail," he said, adding that the financial chaos had "seriously impacted" the economy.

Political leaders welcomed the interest rate cuts.

"It is important and helpful that central banks are working in a coordinated way to deal with stress in the financial system," said White House spokesman Tony Fratto.

German Chancellor Angela Merkel said it would "help build confidence," while French President Nicolas Sarkozy -- whose nation currently holds the rotating EU presidency -- called it a "very important decision."

But the rate cut and Britain's costly initiative initially failed to halt panic selling, with London plunging 5.38 percent on Wednesday.

Dealers said investors were unconvinced that the rate cuts would stop the rot.

Speaking on French television, European Central Bank chief Jean-Claude Trichet said "excessive pessimism is ill-advised".

"We all together call upon the market participants who are in this state of intense turbulence, we tell them to collect themselves," he said. "There are elements of confidence out there."

With the world's top economic policy makers headed to Washington for the annual meetings of the International Monetary Fund and World Bank on Monday, Trichet said: "It is very important that we coordinate as closely as possible".

In other initiatives, the Federal Reserve said it had authorized a new 37.8-billion-dollar cash infusion into troubled insurance group AIG, after most of the 85-billion-dollar lifeline that Washington provided last month was used.

Iceland's government took over the country's biggest bank, Kaupthing, after the country's two other biggest banks were nationalised.

Its central bank said on Wednesday it was giving up its efforts to shore up the krona currency. The Nordic island nation is so exposed to the credit crunch that officials say it risks bankruptcy.

Offline Sadiq Jafri

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Re: Latest News : International
« Reply #4 on: October 09, 2008, 02:47:07 PM »
I would say the first thing to do is outline which mkts one wants to trade....

For fx alone, the best possible broker-dealer is dukascopy.com, in my opinion. I know the name doesnt inspire confidence, but they are Swiss, NFA registered and very well regulated. Their platform is very good and since they are one of the world's largest liquidity providers for the forex mkt, their spreads and execution is excellent. When trading purely FX, brokers charge rollover fees for positions held open overnight. Dukascopy's charges are mostly the same as the rest of the industry. I used DbFX and FXCM but dukascopy turned out to be the best in terms of slippage control, limit and stoploss execution and speed.

Having said this, let me make something clear. ALL FX BROKERS play the spreads themselves, where small account holders like us are concerned. This is why most retail customers almost never make any money when actively trading currencies. Brokers make money by creating a secondary mkt for fx deals because our lot sizes are so small. Meaning our orders are never entered in the actual primary fx mkt via mt4, they are simply executed at the internal fx mkt that the broker creates and which reflects to a large extent the rates in the primary mkt with the difference of 1-2 pips. Out of the bunch dukascopy is the only one who admits to this practice and says that they still try to provide the tightest spreads to their retail clients.

If I were you I would NOT trade fx like this. Trust me, you will find yourself on the losing side, no matter which broker u use, unless you have a medium to longer term fx trading outlook (but i dont think any of us have the global economic know how to pull that off :P)

The better, and less volatile and less manipulated way to trade fx is thru etf's (exchange traded funds) listed on the NYSE, AMEX and other exchanges. ETF's are funds which are listed on the stock exchanges and which follow the performance of the sector they are based on. For example the US dollar index etf has shares listed in New York. Every rise and fall in the US dollar is reflected in the dollar index and consequently reflected in this etf's share price, on a percentage basis. Similarly the gold etf (ticker symbol GLD) follows the price of spot gold, and rises or falls 1% for every 1% rise or fall in gold price. Etf's were specifically created so retail as well as institutional clients could participate in various asset classes and mkt's without needing multiple platforms/brokers etc and without the temptation of the 200:1 allowed leverage of fx  ;D  Etf's are available for almost anything you can name. There are etf's that follow the U.S stock indexes like dow jones and s&p 500, the european indexes like dax, cac and ftse and the indian index even.....there are etf's for most major currencies like the dollar, euro, yen, sterling etc and there are etf's for major commodities like gold, oil, wheat etc. For the more adventurous there are even leveraged double long or double short etf's for most sectors, like DDM which rises 2% for every 1% rise in the dow jones.

The best thing to do would be to use a multiple market broker, who is registered with regulatory authorities in several countries, most importantly in the U.S. and whose client deposits are insured by the FDIC/SIPC. And most importantly one who is direct access. Meaning the trades you enter on their platform are executed directly in the actual mkt, not just in house! A multiple mkt broker allows clients to trade stocks/etf's/futures/options/fx etc thru a single platform.

I started with etrade.com They were not direct access but when I started I didnt know that. Plus they are now so big they even have a bank of their own and our involved in the subprime mess in some ways. So I got scared of 'em and tired of the slow execution speed of their platform since it wasnt direct access.

I switched to, and still use, interactivebrokers.com  They are based in the U.S. and in my opinion they are the best. They fulfill all the above criteria, have no banking or subprime dealings, are very well capitalized as a company and are direct access. Their fx is not the best but since I trade currencies thru etf's on the stock mkt as stated above, I dont mind. Infact I havent ever used their fx module more than once if I remember. Their strong point is their customer service and the speed of rates quoted and order execution. Their built in charting package is realtime and quite good. The only problem mite be that their platform is pretty advanced in terms of interface so it mite seem a little 'unfriendly' at first to use. But I got used to it pretty soon.


You can download their demo and try it from their website. Their commission structure is flexible but i use the $o.oo5/share option.

One other thing of note. The FDIC/SiPC passed a resolution in 2001, defining what a daytrader is under U.S. law. Anyone who opens and closes 4-5 trades a week is classified as a daytrader. And if you are designated a daytrader, you need to have $25000 in your a/c. If you trade less than that, you can open an acount with as little as $5000

Apart from interactivebrokers.com, i'm looking at other platforms these days, just for the heck of it. Maybe I'll find one thats even better.

Let me know if any of you have any questions.

Cheers

Offline Learner7

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Re: Latest News : International
« Reply #5 on: October 09, 2008, 03:34:17 PM »
I would say the first thing to do is outline which mkts one wants to trade....

Let me know if any of you have any questions.

Cheers


Thank you for sharing views. good effort, appreciated.
Need litter more explanations please.

1. where are you located, i guess in USA, so you have no problem in depositing / withrawing of money from the facilitator / broker.
While we are in Pakistan how we can achieve it. Secondly if Broker deny to return money how can we compell them as there is no connecting / mediating authority to compell him to do so.
So money is safe of a client from Pakistan?

2. Remaining questions will be raised after satisfaction / answer of Question No. 1 above.

Thanks in advance.


Offline Sadiq Jafri

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Re: Latest News : International
« Reply #6 on: October 09, 2008, 04:28:20 PM »
I don't think you read my post fully. Or perhaps I didn't explain well enuff. I am in Karachi, not the U.S.
You can deposit money by making a wire transfer from your foreign currency a/c at a local bank, to the brokers a/c in the U.S. The wire typically costs around $20 to send. When I need to withdraw, I make a withdrawal request to the broker and he wires the money back to my a/c in Karachi, and charges me around $11 for sending me that wire transfer. The money I have on deposit with the broker is governed by U.S. retail and online brokerage deposits safety acts, and is insured by the fdic/sipc for $100000 at the least, and to the full amount in the a/c if your sources for having that money have been disclosed by you and verified by them. I've been dealing with them for some time now and havent faced a withdrawal problem etc.

um@ir

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Re: Latest News : International
« Reply #7 on: October 09, 2008, 05:50:45 PM »
Actually Sadiq,

your post would be real useful if you could explain it in steps. Like....

1. First of all you need to open foreign currency Account in Pakistan. (for wire transfer)
2. Then i think there would be some account opening process
3. Explain
4. that
5. in
6. Steps
 with COST at every STAGE so that we can benefit more !!

Thanks for your valuable contribution.

Offline Farzooq

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Re: Latest News : International
« Reply #8 on: October 09, 2008, 06:44:47 PM »
step no 1 is to open dollar account in any bank
Step no 2 fill in the account opening form submit the required documents
Step no 3 u will receive an email with your account and details of account no of the broker for wire transfer
Step no 4 download software
Step no 5 trade

Note : I ran away after step 2
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Offline Sadiq Jafri

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Re: Latest News : International
« Reply #9 on: October 09, 2008, 08:43:14 PM »
 :)  Farzooq bhai, howcome?

Umair bhai, like Farzooq bhai stated, thats pretty much all there is to it....

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Re: Latest News : International
« Reply #10 on: October 09, 2008, 09:30:30 PM »
opened account in cmc markets uk thru harvest but never deposited money. Did some demo tradin and reached conclusion that one needs minimum 25000 margin to trade safely

Offline kse-101

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Re: Latest News : International
« Reply #11 on: October 09, 2008, 10:04:33 PM »
true ... we need margin to trade safely in forex..

i did tried the demo few months back.. earned virtually 3 times of the virtual initial amount ..

but in just one go, lost all the amount balance & account got waived .. & literally it took just 30 seconds lol

100k $ account converted into around 370k $ .. and within 30 seconds account was 0  ;D
Ps: The above information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein !!


Regards..
Muhammad Umair..

um@ir

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Re: Latest News : International
« Reply #12 on: October 09, 2008, 10:13:43 PM »
true ... we need margin to trade safely in forex..

i did tried the demo few months back.. earned virtually 3 times of the virtual initial amount ..

but in just one go, lost all the amount balance & account got waived .. & literally it took just 30 seconds lol

100k $ account converted into around 370k $ .. and within 30 seconds account was 0  ;D

I think you Forgot to explore Stop Loss Order  ::)

Offline kse-101

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Re: Latest News : International
« Reply #13 on: October 09, 2008, 11:49:19 PM »
true ... we need margin to trade safely in forex..

i did tried the demo few months back.. earned virtually 3 times of the virtual initial amount ..

but in just one go, lost all the amount balance & account got waived .. & literally it took just 30 seconds lol

100k $ account converted into around 370k $ .. and within 30 seconds account was 0  ;D

I think you Forgot to explore Stop Loss Order  ::)

ahoo yaar, kuch aisa hi scene hoya tha.. crude oil liya tha lakin stoploss lagatay lagaty 30 sec mai kaam hogaya ..lol  yeah un dino ki baat hai jab oil 140 say wapis palti maar raha tha ..
 
khair abb to direct order hi stoploss wala place karna cachyee..  :D
Ps: The above information is neither an offer to sell nor solicitation to buy any of the securities mentioned herein !!


Regards..
Muhammad Umair..

um@ir

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Re: Latest News : International
« Reply #14 on: October 10, 2008, 09:51:17 AM »
step no 1 is to open dollar account in any bank
Step no 2 fill in the account opening form submit the required documents
Step no 3 u will receive an email with your account and details of account no of the broker for wire transfer
Step no 4 download software
Step no 5 trade

Note : I ran away after step 2

My concern was That Even if you Withdraw money from you local banks account in terms of foreign currency you will be CHARGED tax. So COST would increase on every STEP and won't make it feasible.

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Re: Latest News : International
« Reply #15 on: October 10, 2008, 01:26:58 PM »
european stocks down 10%

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Re: Latest News : International
« Reply #16 on: October 10, 2008, 03:59:25 PM »
Asad bhai any recommendations on cmcmarkets.com

Offline Sadiq Jafri

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Re: Latest News : International
« Reply #17 on: October 10, 2008, 04:44:21 PM »
asad?

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Re: Latest News : International
« Reply #18 on: October 10, 2008, 05:10:05 PM »
asad?

oh sorry sadiq bhai plz check http://www.cmcmarkets.com/
recommended by harvest-pakistan.com
« Last Edit: October 10, 2008, 05:12:13 PM by Farzooq Haider »