China' s securities regulator restricts big share sales as stocks nose dive
January 7, 2016: 1:16 PM
China' s securities regulator issued rules on Thursday to restrict share sales by listed companies' major shareholders, saying the move will stabilise market expectations but does not signal an imminent exit of the " national team" of investors.
Major shareholders must not sell more than 1% of a listed company' s share capital through stock exchanges' centralised bidding system every three months, according to the rules published by the China Securities Regulatory Commission that will take effect Jan 9.
In addition, major shareholders must file their plans 15 trading days in advance of sales.
Even long should come out fast fast...mess will continue for the 1qtr...
But 2016 i guess will be a good year later part...QE4 will coming and massive china stimulus...
Highlight
China shares dive 7% triggering trading halt as latest yuan weakening sends markets reeling STI down 1.8%
January 7, 2016: 1:00 PM
China accelerated the devaluation of the yuan on Thursday, sending currencies across the region reeling and domestic stock markets tumbling, as investors feared the Asian giant was kicking off a virtual trade war against its competitors.
Trading on China' s stock markets were suspended for the rest of the day, for the second time this week, as a new circuit-breaking mechanism was tripped less than half an hour after the open.
The People' s Bank of China again surprised markets by setting the official midpoint rate on the currency at 6.5646 yuan per dollar, the lowest since March 2011.
That was 0.5% weaker than the day before and the biggest daily drop since last August, when an abrupt near 2% devaluation of the currency also roiled markets.
The impact was immediate as regional currencies went into a tailspin. The Australian dollar, often used as a liquid proxy for the yuan, fell half a US cent in a blink.
. Shanghai stocks slid 7% to trigger the halt in trading, a repeat performance of Monday' s sudden tumble Japan' s Nikkei shed 1.8% in sympathy A gauge of Chinese shares listed in Hong Kong slumped 4.3% -. The most since August - and the Hang Seng Index dropped 2.9%.
Singapore' s Straits Times Index was down 1.8% at 2,753.43 as at 10:54 am. Benchmark indexes in Australia, South Korea and Taiwan all lost more than 1%.
US index futures also sank. Contracts on the Standard & Poor' s 500 Index slid 1.1 per cent to 1,964.50 as of 10:34 am in Hong Kong. Those on the Dow Jones Industrial Average lost 1%, after the gauge capped its worst three-day start to a year since 2008.
A sustained depreciation in the yuan puts pressure on other Asian countries to devalue their currencies to stay competitive with China' s massive export machine.
It also makes commodities denominated in US dollars more expensive for Chinese buyers, which could hurt demand and thus further depress commodity prices in a vicious chain reaction.
US crude erased gains, trading near US $ 34 ($ 48.50) a barrel after a 5.6% slide on Wednesday. The yen strengthened and 10-year Treasuries rallied.
Chinese policy makers' growing tolerance for a weaker yuan is being seen as a sign that they are struggling to stem a slowdown. Crude' s slump is also unnerving investors, heightening fears over disinflation and the ability of central banks to meet their monetary policy goals.
The World Bank on Wednesday cut its global growth forecasts for this year and 2017, citing concerns over China' s economy and its impact on commodities that have been at the forefront of traders' minds since 2016 got under way.
" It' s been hard to catch a breath in 2016 and traders have not really known which way to turn," Mr Chris Weston, chief market strategist in Melbourne at IG Ltd., wrote in an e-mail to clients. " For risk assets to stabilise and sentiment to turn around, we are going to need a stable or even positive move in the Chinese currency. It' s clear that the market is becoming increasingly concerned by the global inflation outlook. "
Friday or monday then long the market.... let the spring compress....
China Trading Halts for the Day, Asian Markets Slide
7 January 2016 10:44
A plunge in China stocks led to their second trading halt this week, sending markets across the region sharply lower, as the yuan rapidly weakened.
The CSI 300, a benchmark of blue chips in Shanghai and Shenzhen fell 7%, which triggers a newly launched circuit breaker that freezes trading for the day. That follows a 15-minute halt after falling 5% earlier in the morning. Chinese markets usually close at 3 pm local time.
The Shanghai Composite Index fell 7.3% when trading halted, bringing its losses over just four trading days to 12%. That' s the largest weekly loss since the week ended Aug. 21.
Stock markets fell across the region: Hong Kong' s Hang Seng Index was down 2.4% and the Nikkei Stock Average was down 1.8% Australia' s S & P / ASX 200 fell 1.4% and South Korea' s Kospi fell 1%..
Earlier, China' s central bank continued to fix the onshore yuan' s value lower to the US dollar, at 6.5646, down 0.51% from Wednesday' s level, the biggest move since Aug. 13, after the yuan' s devaluation.
The onshore Chinese yuan broke to a fresh low since 2011 of 6.5920 to one US dollar. It last traded at 6.5920 compared with 6.5555 Wednesday.
The offshore Chinese yuan, which trades freely, sank to a fresh five-year low, at 6.7511 to one US dollar. It was last at 6.6943 compared with 6.6927 Wednesday.
The volatility recalls last summer, when China' s stock market crash and a surprise devaluation of the yuan by Beijing sparked a global rout, and wiped out trillions of US dollars in value from Chinese equities.
" It' s difficult to predict what the authorities want to do," said Arthur Lau, managing director of Asian fixed income at Pinebridge Capital.
The losses follow declines overnight globally. US crude oil slumped to its lowest level since December 2008, down 5.6% to $ 33.97 a barrel and the Dow Jones Industrial Average declined 1.5%.
" People are pessimistic and bracing for a global selloff," said Mohit Bajaj, managing director at WallachBeth Capital LLC. " Emerging market currencies are weak, commodities are low" and " in combination with North Korea it' s creating a kind of ripple effect" he said.
On Wednesday, North Korea said it successfully staged its first test of a more powerful form of nuclear weapon. A flare-up in tensions between Saudi Arabia and Iran added to the geopolitical concerns.
The offshore Chinese yuan is currently at 6.7042 to one US dollar, stronger than 6.7310 to the dollar, its weakest level in five years reached on Wednesday. The offshore yuan traded at 6.6927 late Wednesday.
Brent crude oil was last down 2.1% at $ 33.52 a barrel.
Gold prices was up 0.4% at $ 1,096.40 a troy ounce.
Stocks To Watch
Keppel, SembMarine, Sembcorp Industries, Sarine, Olam, China Gaoxian
January 7, 2016: 8:10 AM
The following stocks may be in focus today:
Macquarie Research has downgraded Keppel Corp (Valuation: 1.80, Fundamental: 1.30), SembMarine (Valuation: 1.80, Fundamental: 1.10) and Sembcorp Industries (Valuation: 2.40, Fundamental: 1.10) to " underperform" , warning that the local offshore and marine sector is in structural decline and that the business models of Singapore shipyards will face " immense pressure" in the next five years.
Sarine Technologies (Valuation: 1.10, Fundamental: 2.50) says it expects to post " modest" profit from operations for its fourth quarter.
Olam International (Valuation: 1.40, Fundamental: 0.50) has signed animal-feed partnership agreement with France' s InVivo Animal Nutrition & Health in Nigeria.
China Gaoxian Fibre Fabric Holdings says the company is in early talks with potential parties on ' major corporate action' .
Vallianz Engineering (VEL), a wholly-owned subsidiary of Vallianz Holdings (Valuation: 1.80, Fundamental: 0.25), has acquired two new built vessels for US $ 21.8 million ($ 31.2 million).
Cordlife Group (Valuation: 2.10, Fundamental: 1.55) has bought back $ 4.25 million of 2017 notes for cancellation.
Markets
US stocks closed at their lowest level since early October on Wednesday, weighed down by fresh concerns over China and slower global growth and as energy shares tumbled with oil prices. The Dow Jones industrial average was down 252.15 points, or 1.47%, to 16,906.51, the S & P 500 lost 26.45 points, or 1.31%, to 1,990.26 and the Nasdaq Composite dropped 55.67 points, or 1.14%, to 4,835.77.
Singapore equities closed weaker on Wednesday, amidst mixed trading in other Asian bourses. The Straits Times Index (STI) ended the day 1.06% lower at 2,804.27, after trading between 2,800.78 and 2,844.06. Excluding warrants, decliners outnumbered gainers 251 to 131.
I think maybe, just maybe, sti no more blood to squeeze liao for the time being so possible to be up today, whch also means bank shares likely to reverse too .... if only temporarily.
North and South American Indexes
| Index | Country | Change | % Change | Level | Last Update | |
|---|---|---|---|---|---|---|
 |
Dow Jones Industrial Average | United States | -252.15 | -1.47% | 16,906.51 | 4:30pm ET |
| |
S& P 500 INDEX | United States | -26.45 | -1.31% | 1,990.26 | 4:30pm ET |
| |
Brazil Bovespa Stock Index | Brazil | -646.18 | -1.52% | 41,773.14 | 3:19pm ET |
| |
Canada S& P/TSX 60 | Canada | -11.69 | -1.54% | 746.31 | 4:39pm ET |
| |
Santiago Index IPSA | Chile | -8.92 | -0.31% | 2,890.78 | 3:10pm ET |
| |
IPC | Mexico | -350.49 | -0.83% | 41,691.19 | 4:06pm ET |
Wall Street drops to three-month low China, energy weigh
U.S. stocks closed at their lowest level since early October on Wednesday, weighed down by fresh concerns over China and slower global growth and as energy shares tumbled with oil prices.
Shares of oil majors Exxon (XOM.N) and Chevron (CVX.N) fell and the energy index .SPNY dropped 3.6 percent as oil prices plunged below $35 a barrel.
Apple (AAPL.O) briefly dipped below $100 for the first time in nearly five months following reports of slowing shipments of the company' s iPhone 6S and 6S Plus models. The stock, which ended down 2.0 percent at $100.70, was the biggest drag on both the S& P 500 and Nasdaq.
Against the trend, Netflix ended up 9.0 percent after announcing its video streaming service was now live in more than 130 countries.
Weak data from China triggered declines in global equities markets on Monday, with the Dow recording its worst first day of the year since 2008.
The People' s Bank of China on Wednesday stepped in again to weaken the yuan, raising fears that the country' s economy was even weaker than had been expected.
" The big influence continues to be concerns about what' s going on in China," said Stephen Massocca, chief investment officer at Wedbush Equity Management LLC in San Francisco.
" I think there' s this theory going around that the global economy is going to slow greatly, driven by a large slowdown in China."
Adding to investors' nervousness was North Korea' s announcement that it had successfully tested a hydrogen bomb. The United States and weapons experts voiced doubt the device was as advanced as claimed.
The Dow Jones industrial average .DJI ended down 252.15 points, or 1.47 percent, to 16,906.51, the S& P 500 .SPX lost 26.45 points, or 1.31 percent, to 1,990.26 and the Nasdaq Composite .IXIC dropped 55.67 points, or 1.14 percent, to 4,835.77.
Also in China, a survey showed that the country' s services sector expanded at its slowest pace in 17 months in December.
U.S. stocks briefly extended losses in afternoon trading after the Federal Reserve published its minutes from the last policy meeting in December. They showed policymakers decided to raise interest rates last month after almost all of them gained confidence inflation was poised to rise, but some voiced worries inflation could get stuck at dangerously low levels.
The CBOE Volatility Index .VIX, the market' s favored gauge of Wall Street anxiety, ended up 6.5 percent to 20.59, but well off the high of 23.36 touched on Monday.
" We haven' t really seen a major pick-up in volume to the downside. That shows that we are not seeing a lot of people panicking and trying to get out," said Scott Fullman, chief strategist at Revere Securities Corp.
U.S. economic data earlier Wednesday showed private employers added 257,000 jobs, ahead of expectations. The U.S. government' s non-farm payroll report is due on Friday.
Chipotle (CMG.N) fell 5.0 percent to $426.67. The company was served with a grand jury subpoena in relation to a criminal investigation into a norovirus contamination at one of its restaurants.
About 8.2 billion shares changed hands on U.S. exchanges, above the 7.1 billion daily average for the past 20 trading days, according to Thomson Reuters data.
NYSE declining issues outnumbered advancing ones 2,314 to 779, for a 2.97-to-1 ratio on the Nasdaq, 2,019 issues fell and 812 advanced, for a 2.49-to-1 ratio favoring decliners.
The S& P 500 posted two new 52-week highs and 46 lows the Nasdaq recorded 29 new highs and 132 lows.
Future is minus 176. STI will be redder tomolo...may break 2800 .. Stay away...
Market Close
STI slips 1.06% to end at 2,804.27
January 6, 2016: 5:53 PMSingapore equities closed weaker on Wednesday, amidst mixed trading in other Asian bourses. Meanwhile, mainland Chinese markets climbed after the People' s Bank of China cut its reference rate for the yuan.
The Nikkei 225 and KOSPI Indices fell 0.99% and 0.26% respectively, while the Hang Seng Index slipped 0.98%. Meanwhile, the Shanghai and Shenzhen Composite Indices put in respective gains of 2.25% and 2.61%.
The Straits Times Index (STI) ended the day 1.06% lower at 2,804.27, after trading between 2,800.78 and 2,844.06. Market breadth was negative. Excluding warrants, decliners outnumbered gainers 251 to 131.
A total of 1.2 billion shares worth about 1 billion changed hands, giving an average of 84 cents per share for the entire market.
Forise International, Xpress Holdings (Valuation: 0.00, Fundamental: 0.95), Luzhou Bio-chem Technology (Valuation: 0.30, Fundamental: 0.35), China Sports International (Valuation: 0.90, Fundamental: 1.65), and Noble Group (Valuation: 1.20 , Fundamental: 0.35) were among the most actively traded counters.
Among STI components, SATS rose 1.3% to $ 3.89, while City Developments (Valuation: 2.40, Fundamental: 1.90) added 0.7% to $ 7.54 Meanwhile, Noble Group plunged 3.8% to 38 cents, while Sembcorp Marine (Valuation:. 1.80, Fundamental: 1.10) sank 3.5% to $ 1.65.
Terratech Group. (Valuation: N / A, Fundamental: N / A) tumbled 10% to 6.3 cents The marble producer on Tuesday announced that it has received a notification from parent company Tritech Group (Valuation: 0.30, Fundamental: 0.95) of its intention to dispose a 29% interest.
Qian Hu Corp (Valuation: I, Fundamental: n) plummeted 6.1% to 15.5 cents The aquarium fish seller expects to post a loss for 4Q2015..
Luzhou Bio-chem Technology sank 6.4% to 4.4 cents. The producer of corn starch and by-products was on Tuesday queried by the Singapore Exchange over unusual trading activity in its shares. Luzhou said it was not aware of any information not previously announced that might explain the trading.
Spackman Entertainment Group (Valuation: N / A, Fundamental: N / A) leapt 5.8% to 14.5 cents The entertainment production group on Tuesday announced that its action-comedy movie, Chasing, presented and distributed by its indirect wholly-owned subsidiary Opus. Pictures, will open in Korean theatres this Thursday.
Market Close
STI slips 1.06% to end at 2,804.27
January 6, 2016: 5:53 PM
Singapore equities closed weaker on Wednesday, amidst mixed trading in other Asian bourses. Meanwhile, mainland Chinese markets climbed after the People' s Bank of China cut its reference rate for the yuan.
The Nikkei 225 and KOSPI Indices fell 0.99% and 0.26% respectively, while the Hang Seng Index slipped 0.98%. Meanwhile, the Shanghai and Shenzhen Composite Indices put in respective gains of 2.25% and 2.61%.
The Straits Times Index (STI) ended the day 1.06% lower at 2,804.27, after trading between 2,800.78 and 2,844.06. Market breadth was negative. Excluding warrants, decliners outnumbered gainers 251 to 131.
A total of 1.2 billion shares worth about 1 billion changed hands, giving an average of 84 cents per share for the entire market.
Forise International, Xpress Holdings (Valuation: 0.00, Fundamental: 0.95), Luzhou Bio-chem Technology (Valuation: 0.30, Fundamental: 0.35), China Sports International (Valuation: 0.90, Fundamental: 1.65), and Noble Group (Valuation: 1.20 , Fundamental: 0.35) were among the most actively traded counters.
Among STI components, SATS rose 1.3% to $ 3.89, while City Developments (Valuation: 2.40, Fundamental: 1.90) added 0.7% to $ 7.54 Meanwhile, Noble Group plunged 3.8% to 38 cents, while Sembcorp Marine (Valuation:. 1.80, Fundamental: 1.10) sank 3.5% to $ 1.65.
Terratech Group. (Valuation: N / A, Fundamental: N / A) tumbled 10% to 6.3 cents The marble producer on Tuesday announced that it has received a notification from parent company Tritech Group (Valuation: 0.30, Fundamental: 0.95) of its intention to dispose a 29% interest.
Qian Hu Corp (Valuation: I, Fundamental: n) plummeted 6.1% to 15.5 cents The aquarium fish seller expects to post a loss for 4Q2015..
Luzhou Bio-chem Technology sank 6.4% to 4.4 cents. The producer of corn starch and by-products was on Tuesday queried by the Singapore Exchange over unusual trading activity in its shares. Luzhou said it was not aware of any information not previously announced that might explain the trading.
Spackman Entertainment Group (Valuation: N / A, Fundamental: N / A) leapt 5.8% to 14.5 cents The entertainment production group on Tuesday announced that its action-comedy movie, Chasing, presented and distributed by its indirect wholly-owned subsidiary Opus. Pictures, will open in Korean theatres this Thursday.
Noon Market
STI slips 0.73% to 2,813.61 at midday
January 6, 2016: 12:13 PM
Singapore equities nudged down at noon on Wednesday, amidst mixed trading in other Asian markets. Notably, the People' s Bank of China lowered its reference rate for the yuan, leading to a weakening of the currency.
The Nikkei 225 and KOSPI Indices slipped about 1.2% and 0.5% respectively, while the Hang Seng Index shed around 0.9%. Meanwhile, the Shanghai and Shenzhen Composite Indices put in respective gains of about 0.7% and 0.6%.
By 12.01pm, the Straits Times Index shed 0.73% to 2,813.61. Market breadth was negative. Excluding warrants, decliners outnumber gainers 189 to 94.
The Straits Times Index (STI) traded between 2,807.49 and 2,844.06, after opening 0.15% higher at 2,838.56.
A total of 604.7 million shares worth $ 449.9 million changed hands, giving an average price of about 74 cents per share for the entire market.
Forise International, Xpress Holdings (Valuation: 0.00, Fundamental: 0.95), China Sports International (Valuation: 0.90, Fundamental: 1.65), Luzhou Bio-chem Technology (Valuation: 0.30, Fundamental: 0.35), and Noble Group (Valuation: 1.20 , Fundamental: 0.35) were among the most actively traded counters.
Among STI components, SATS rose 1% to $ 3.88, while Jardine Cycle & Carriage (Valuation: 1.80, Fundamental: 1.50) added 0.8% to $ 34.52 Meanwhile, Keppel Corp. (Valuation: 1.80, Fundamental: 1.30) plunged 3.3% to $ 6.24, while Hutchison Port Holdings Trust (Valuation: 1.80, Fundamental: 0.20) sank 2.8% to 52.5 US cents.
Terratech Group. (Valuation: N / A, Fundamental: N / A) tumbled 8.6% to 6.4 cents The marble producer on Tuesday announced that it has received a notification from parent company Tritech Group (Valuation: 0.30, Fundamental: 0.95) of its intention to dispose a 29% interest.
Qian Hu Corp (Valuation: I, Fundamental: n) dived 3% to 16 cents The aquarium fish seller expects to post a loss for 4Q2015..
Luzhou Bio-chem Technology climbed 4.3% to 4.9 cents. The producer of corn starch and by-products was on Tuesday queried by the Singapore Exchange over unusual trading activity in its shares. Luzhou has responded that it is not aware of any information not previously announced that might explain the trading.
Spackman Entertainment Group (Valuation: N / A, Fundamental: N / A) leapt 5.1% to 14.4 cents The entertainment production group on Tuesday announced that its action-comedy movie, Chasing, presented and distributed by its indirect wholly-owned subsidiary Opus. Pictures, will open in Korean theatres this Thursday.
Xpress Holdings surged 7.1% to 1.5 cents. The printing company on Monday announced that it has received the in-principle approval of the Singapore Exchange in relation to its proposed share consolidation.
Companies that went ex-dividend / distribution on Wednesday include Second Chance Properties (Valuation: 2.00, Fundamental: 0.70).
North Korea just reportedly successfully tested a hydrogen bomb. Is this adding to the jitters in the mkt?
If Saudi and Iran tension escalates......
I' m betting on oil & gold to rocket!
For now the mkts are trembling, and as usual, the STI is not spared
Can see 2800 today....
Good number 2800.
North and South American Indexes
Index Country Change % Change Level Last Update
Dow Jones Industrial Average
United States
-276.09
-1.58%
17,148.94
4:33pm ET
S& P 500 INDEX
United States
-31.28
-1.53%
2,012.66
4:33pm ET
Brazil Bovespa Stock Index
Brazil
-1,208.92
-2.79%
42,141.04
3:19pm ET
Canada S& P/TSX 60
Canada
-6.18
-0.81%
758.36
4:44pm ET
Santiago Index IPSA
Chile
-47.94
-1.63%
2,895.79
4:58pm ET
IPC
Mexico
-898.67
-2.09%
42,113.70
10:06am ET
Wall Street begins year sharply lower after China selloff
US stocks began 2016 sharply lower on Monday, with the Dow marking its worst start to a year since 2008, after weak Chinese economic data fanned fears of a global slowdown.
Indexes partly recovered late in the session, following a turnaround in oil prices that caused energy shares to cut losses. At its low for the day, the Dow was down 467 points and was headed for its worst first-day percentage drop since 1932.
Surveys showed factory activity in the world' s second-largest economy shrank sharply in December, sparking a 7-percent slide in Chinese shares that triggered a trading halt. Adding to investors' worries, China' s central bank fixed the yuan at a 4-1 / 2 year low, further weakening it against the dollar.
US data sparked further concern as factory activity weakened unexpectedly in December, according to the Institute for Supply Management.
" There was the turmoil overnight overseas that kind of set the tone ... (but) all of the negatives out there have been out there for a while," said Michael O' Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.
" The fact that we closed down on the year, the Fed tightened, it crystallized in investors' minds that we' re not in the environment we were in throughout most of the recovery."
The selloff was widespread but not as deep as the slide caused by worries of a China-led global slowdown in August, when the Dow tumbled more than 1,000 points at one point.
Nasdaq led the day' s decline and Amazon (AMZN.O), down 5.8 percent at $ 636.99, weighed the most on the S & P 500 and Nasdaq, while the Nasdaq Biotech Index .NBI dropped 3.2 percent.
The Dow Jones industrial average .DJI closed down 276.09 points, or 1.58 percent, to 17,148.94, the S & P 500 .SPX lost 31.28 points, or 1.53 percent, to 2,012.66 and the Nasdaq Composite .IXIC dropped 104.32 points, or 2.08 percent, to 4,903.09 .
Both the S & P 500 and the Nasdaq had their worst starts to a year since 2001.
All 10 S & P sectors ended lower, but the energy index .SPNY was down the least, with a loss of just 0.2 percent.
Crude oil ended a volatile session down slightly following concern about Middle East tensions, but Brent turned higher late.
Tesla (TSLA.O) fell 6.9 percent to $ 223.41. The electric car maker delivered 17,400 vehicles in the fourth quarter, just above the low end of its guidance.
About 8.5 billion shares changed hands on US exchanges, above the 7.2 billion daily average for the past 20 trading days, according to Thomson Reuters data.
Declining issues outnumbered advancing ones on the NYSE by 2,127 to 977, for a 2.18-to-1 ratio on the downside on the Nasdaq, 2,202 issues fell and 652 advanced for a 3.38-to-1 ratio favoring decliners.
The S & P 500 posted 1 new 52-week highs and 14 new lows the Nasdaq recorded 12 new highs and 113 new lows.
Asian Indexes
| Index | Country | Change | % Change | Level | Last Update | |
|---|---|---|---|---|---|---|
 |
Australia ASX All Ordinaries | Australia | -66.90 | -1.28% | 5,172.30 | 9:19pm ET |
| |
Shanghai SE Composite Index | China | +38.68 | +1.18% | 3,326.39 | 9:24pm ET |
| |
Hang Seng | Hong Kong | -99.58 | -0.47% | 21,089.14 | 9:24pm ET |
| |
Mumbai Sensex | India | -43.01 | -0.17% | 25,580.34 | 7:30am ET |
| |
Nikkei 225 | Japan | -174.56 | -0.95% | 18,199.44 | 9:19pm ET |
| |
Taiwan TSEC 50 Index | Taiwan | -65.64 | -0.81% | 8,009.47 | 9:19pm ET |
