Latest Updates:
last week started on a bull note, with major indices rising up to 4%, with USDJPY rising to intraday high of 95.06.
Singapore blue chip index opened at 312.10 on Monday, and risen to intraday high of 321.25 on fri, closing at 318.70, many new millionaires made last week.
Wall street opened on mon at 9505, ending on fri at 9546, touching a week high of 9646: More millionaires created last week.
But no thanks to Wen Jiabao who's 1 speech triggered equities worldwide to freefall, saying that China economy is not out of the doldrums and recovery is still not in near sight. Even positive job numbers and housing data did not manage to keep up the rally.
Many investment firms may be unwinding their positions, and in a rare decoupling, Mon's yen weakness was reversed by Wen Jiabao's comment, showing a slow down in risk appetite.
This next few weeks would decide the trend of the Jap yen. Now its still hovering in trading band, with emphasis on risk aversion.
2 schools of thought here: Some investment gurus are feeling that market is way too high, and is poised for a MAJOR correction, while others feel that the positive data from US would spur higher growth for worldwide equities.
Looks like its time to take profits and stay sidelined.... Hope the market correction do not strengthen the yen too much.
last week started on a bull note, with major indices rising up to 4%, with USDJPY rising to intraday high of 95.06.
Singapore blue chip index opened at 312.10 on Monday, and risen to intraday high of 321.25 on fri, closing at 318.70, many new millionaires made last week.
Wall street opened on mon at 9505, ending on fri at 9546, touching a week high of 9646: More millionaires created last week.
But no thanks to Wen Jiabao who's 1 speech triggered equities worldwide to freefall, saying that China economy is not out of the doldrums and recovery is still not in near sight. Even positive job numbers and housing data did not manage to keep up the rally.
Many investment firms may be unwinding their positions, and in a rare decoupling, Mon's yen weakness was reversed by Wen Jiabao's comment, showing a slow down in risk appetite.
This next few weeks would decide the trend of the Jap yen. Now its still hovering in trading band, with emphasis on risk aversion.
2 schools of thought here: Some investment gurus are feeling that market is way too high, and is poised for a MAJOR correction, while others feel that the positive data from US would spur higher growth for worldwide equities.
Looks like its time to take profits and stay sidelined.... Hope the market correction do not strengthen the yen too much.
