http://www.channelnewsasia.com/news/singapore/february-exports-surge-21-5-in-4th-straight-month-of-growth/3602896.html
Singapore is doing well because of China as China is our biggest export destination. February is an exceptional month because of CNY exports to Chinese countries like Taiwan and China. This is just an aberration which will not be repeated after February. This CNY export was definitely better than last year's CNY as there's burgeoning growth in the Chinese middle class. China is changing its economy structurally into a consuming nation.
We have to be wary of our dependent on China as SK's lesson is what we will encounter in the future when we offend China.
Friday, March 17, 2017
Thursday, March 16, 2017
Corruption is still rampant in KLIA. Taiwanese girl was detained wrongfully.
http://focustaiwan.tw/news/aipl/201703150010.aspx
This incident is widely reported on Taiwan news channels and China.
How could a Taiwanese girl be detained for 35 hours for no offence? To detain someone for 35 hours is no small matter and require a high ranking officer to approve such detention. Malaysia should just refuse entry and close the case if this to be handled properly. However, the Malaysian custom officer saw this as an opportunity to demand money from the traveller.
Malaysia Boleh!
This incident is widely reported on Taiwan news channels and China.
How could a Taiwanese girl be detained for 35 hours for no offence? To detain someone for 35 hours is no small matter and require a high ranking officer to approve such detention. Malaysia should just refuse entry and close the case if this to be handled properly. However, the Malaysian custom officer saw this as an opportunity to demand money from the traveller.
Malaysia Boleh!
Japan navy carrier is sailing to Singapore.
http://www.reuters.com/article/us-japan-navy-southchinasea-china-idUSKBN16L0UM
Singapore has angered China that China commercial ships have stopped coming to our port. Instead of welcoming commercial vessels, SG is welcoming military vessel instead which doesn't contribute economically to SG.
Sigh! What is our government doing! Japan invaded and attacked SG before and we're welcoming its naval vessel to SG.
Singapore has angered China that China commercial ships have stopped coming to our port. Instead of welcoming commercial vessels, SG is welcoming military vessel instead which doesn't contribute economically to SG.
Sigh! What is our government doing! Japan invaded and attacked SG before and we're welcoming its naval vessel to SG.
China raises money market rates after FED move.
http://www.scmp.com/business/banking-finance/article/2079352/china-raises-money-market-rates-second-time-year-pumps-new
What does this mean in the real economic term?
This action means China is draining cheap money out of the monetary system and replacing it with more expensive money.
This will help to curtail excessive spending and investment but also increase inflation.
What does this mean in the real economic term?
This action means China is draining cheap money out of the monetary system and replacing it with more expensive money.
This will help to curtail excessive spending and investment but also increase inflation.
Empty shopping malls are springing up in USA! The real economy is not doing well.
http://www.zerohedge.com/news/2017-03-07/third-all-shopping-malls-are-projected-close-space-available-signs-go-all-over-ameri
http://www.zerohedge.com/news/2017-01-24/malls
The real economy in USA is not doing as well as projected on wall street. QE only helps to propel wall street but not main street. Empty shopping malls have started to spring up in USA which depicts the real economic situation. Commercial mortgage-backed securities (CMBS) have also started to default significantly and commercial reits' prices have fallen. Mortgage-backed Securities (MBS) are worse than 2008 (lehman bros' collapse) now and will explode anytime in USA. If China investors pull out of USA commercial properties, it will have a huge ripple effect that will cripple USA economy. This recession will be worse than in 2008.
http://www.zerohedge.com/news/2017-01-24/malls
The real economy in USA is not doing as well as projected on wall street. QE only helps to propel wall street but not main street. Empty shopping malls have started to spring up in USA which depicts the real economic situation. Commercial mortgage-backed securities (CMBS) have also started to default significantly and commercial reits' prices have fallen. Mortgage-backed Securities (MBS) are worse than 2008 (lehman bros' collapse) now and will explode anytime in USA. If China investors pull out of USA commercial properties, it will have a huge ripple effect that will cripple USA economy. This recession will be worse than in 2008.
FED has hiked interest rate in march and 2 more hikes are expected in 2017.
The market reacted positively because of FED dovish statement of gradual pace of tightening in its future actions. Some were anticipating 4 hikes this year but FED only wanted 3 hikes instead which was a relief for the market. Furthermore, there may be some headwinds which will affect the economy like Trump's policies, North Korea, EU, etc. Therefore, FED is having a wait-and-see attitude and will play by ear to determine its interest rate policy.
Wednesday, March 15, 2017
More financial experts are predicting a correction or crash for Dow Jones!
http://www.cnbc.com/2017/03/15/trader-talk-are-you-ready-for-a-2000-point-drop-in-the-dow.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104341874&yptr=yahoo
http://www.marketwatch.com/story/crash-guru-warns-the-dow-could-plunge-to-14800-and-todays-a-date-to-watch-2017-03-13
One said dow jones would drop 2,000 and another said dow jones would fall to 14,800 level. Look like the clairvoyants are in synchronization for once. They had a common consensus on the direction or trajectory of dow jones but not on the magnitude of the fall.
http://www.marketwatch.com/story/crash-guru-warns-the-dow-could-plunge-to-14800-and-todays-a-date-to-watch-2017-03-13
One said dow jones would drop 2,000 and another said dow jones would fall to 14,800 level. Look like the clairvoyants are in synchronization for once. They had a common consensus on the direction or trajectory of dow jones but not on the magnitude of the fall.
Swiber defaults on its bond for 20 March 2017.
http://www.businesstimes.com.sg/companies-markets/swiber-defaults-on-its-bond-coupon-payout-due-on-march-20
If swiber cannot even pay for this bond coupon, we can expect swiber to default on its DBS loan too. Look like DBS has more to write down for Swiber.
If swiber cannot even pay for this bond coupon, we can expect swiber to default on its DBS loan too. Look like DBS has more to write down for Swiber.
MAS warning: Do not trade in binary options
http://news.asiaone.com/news/business/mas-dont-trade-binary-options-unregulated-platforms
Only trade in those derivatives by brokerages registered with MAS in Singapore. Skip those who are registered in overseas no matter how low is the brokerage fee.
Only trade in those derivatives by brokerages registered with MAS in Singapore. Skip those who are registered in overseas no matter how low is the brokerage fee.
Huat ah! Great news for Singapore!
http://news.asiaone.com/news/business/economists-upgrade-singapores-2017-growth-forecast-15-23
I hope that our government won't revise down the GDP growth forecast in the next quarter. I rather have no hope than to have a false hope.
I hope that our government won't revise down the GDP growth forecast in the next quarter. I rather have no hope than to have a false hope.
Tuesday, March 14, 2017
Chile has invited China to join TPP.
http://gbtimes.com/business/china-considers-joining-tpp-meeting-chile
Without USA, Japan will be the biggest economy in TPP and this gives Japan a lot of bargaining power. However, Chile has invited China to join TPP which will make China the largest economy in TPP and assume the leadership position.
If Japan makes things difficult for China to join TPP, China will not join TPP and focus on RCEP since it is leading RCEP.
Let's see how this will pan out.
Without USA, Japan will be the biggest economy in TPP and this gives Japan a lot of bargaining power. However, Chile has invited China to join TPP which will make China the largest economy in TPP and assume the leadership position.
If Japan makes things difficult for China to join TPP, China will not join TPP and focus on RCEP since it is leading RCEP.
Let's see how this will pan out.
Monday, March 13, 2017
China citizens are boycotting South Korea.
http://koreabizwire.com/thousands-of-chinese-cruise-passengers-refuse-to-disembark-in-jeju-amid-diplomatic-woes/77256
China cruise passengers refused to disembark in South Korea. Anti-sentiment has spread across Chinese citizens and they're not afraid to show it publicly.
China cruise passengers refused to disembark in South Korea. Anti-sentiment has spread across Chinese citizens and they're not afraid to show it publicly.
It's getting harder to save Ezra.
http://news.asiaone.com/news/business/latest-claim-ezra-raises-more-concerns
DBS will be hurt more than OCBC when Ezra goes bankrupt. DBS has not factored in the reality of Ezra's bankruptcy.
DBS will be hurt more than OCBC when Ezra goes bankrupt. DBS has not factored in the reality of Ezra's bankruptcy.
Trade war between 2 titans (China & USA) is never good.
https://sg.news.yahoo.com/china-says-trade-war-only-bring-pain-112926544.html
USA knows it won't win the trade war against China. Therefore, it is trying all avenues and prodding all weaknesses in China.
http://en.people.cn/n3/2017/0217/c90000-9179472.html
USA steel industry couldn't handle competition, so it tried to accuse China of stealing trade secrets with fabricated facts which the USA government always did especially for Iraq war (no weapon of mass destruction found until today). After realising that this won't work, the USA steel industry withdrew its allegation and move on to anti-trust allegation.
If China did steal trade secrets from USA steel industry, USA won't back down at all.
USA knows it won't win the trade war against China. Therefore, it is trying all avenues and prodding all weaknesses in China.
http://en.people.cn/n3/2017/0217/c90000-9179472.html
USA steel industry couldn't handle competition, so it tried to accuse China of stealing trade secrets with fabricated facts which the USA government always did especially for Iraq war (no weapon of mass destruction found until today). After realising that this won't work, the USA steel industry withdrew its allegation and move on to anti-trust allegation.
If China did steal trade secrets from USA steel industry, USA won't back down at all.
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