- A + A KUALA LUMPUR (Jan 24): Guocoland (Malaysia) Bhd reported a net profit of RM3.76 million for the second quarter ended Dec 31, 2021 (2QFY22) versus a net loss of RM11.37 million a year earlier on higher contributions from the property development division and lower loss incurred by the hospitality division. The property development arm of the Hong Leong Group posted earnings per share of 0.56 sen compared with earnings per loss of 1.7 sen previously. The developer's revenue also rose 15.59% to RM105.56 million from RM91.32 million, according to its bourse filing. Guocoland attributed the better performance in its property development division mainly to the increase in the percentage of completion from one of its ongoing projects in Emerald 9 @ Cheras. “The performance of the hospitality division also improved with higher occupancy and average room rates due to the relaxation of Movement Control Orders (MCO) imposed by the Malaysian government which allowed … [Read more...] about Guocoland returns to black in 2QFY22 on higher contributions from property development, lower hospitality division losses
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Ken Choi - A + A KUALA LUMPUR (Jan 24): SK Group, South Korea's second largest conglomerate with a market capitalisation of US$177 billion, is looking to expand its reach in the ASEAN financial technology (fintech) space with its investment in BigPay, a Malaysia-based ASEAN fintech company. In August last year, BigPay announced it had secured up to US$100 million in financing from SK Group, to further its mission to become the leading challenger bank in Southeast Asia. In addition to that, SK had also committed to BigPay's bid to obtain a digital banking licence here. Earlier this month, SK said it would be joining a consortium comprising BigPay, financial institution Malaysian Industrial Development Finance Bhd (MIDF) and ASEAN private equity Ikhlas Capital in their bid to apply for a digital banking licence from Bank Negara Malaysia. In an interview on Monday with The Edge, Ken Choi, who is the executive president of SK Group's SUPEX Council in charge of … [Read more...] about SK Group plans to expand ASEAN fintech reach with BigPay investment
Share to Twitter Share to Linkedin Key Takeaways: Equity Index Futures Bounce Back From an Overnight Selloff as Investors Try to Hang on to the Gains Stocks Fell on Tuesday as Interest Rates and Oil Prices as well as a Rare Miss by Goldman Sachs Investors Are Forced to Re-Evaluate Valuations When Interest Rates Rise Stocks are looking to rebound on Wednesday from Tuesday’s selloff as equity index futures are pointing higher. Futures fell overnight but rebounded with European markets. London’s FTSE 100, Germany’s DAX, the French CAC 40, and the Stoxx 600 traded higher. However, there’s a number of earnings announcements for investors to sort through on Wednesday. Financial companies continue to dominate the reports, but there are other companies of note. Starting with the financials, Morgan Stanley MS (MS) and Bank of America BAC (BAC) both beat on earnings estimates despite missing on revenues while U.S. Bancorp TBBK (USB) missed on top … [Read more...] about Rising Interest Rates May Be Leading To Revaluations In Stock, Bond, And Housing Markets
Share to Twitter Share to Linkedin What a difference a month makes as in a year-end survey of market strategists from CNBC revealed that the median yearly target for the S&P 500 was 5100 with the most bullish targets at 5500. The lowest target was 4400 but on Friday the S&P 500 closed at 4397.9. So what has happened? Has there been an economic collapse, political scandal, war? Fortunately, none of the above but this month’s action in the stock market, especially last week, has caused many to question their outlook for the stock market in 2022. The weekly performance numbers tell the story as the losses were recorded in just four days of trading. The iShares Russell 2000 was the weakest down 8.1% as it was only slightly worse than the 7.5% decline in the growth dominated Nasdaq 100 Index. The prospect that the Nasdaq 100 could record its worst month since 2008 is unlikely to improve investor sentiment. The 5.7% loss in the S&P 500 was the … [Read more...] about What Happened To Last Years’ Stock Market Bulls?
Share to Twitter Share to Linkedin A very poor 2022 start for equities, off to their poorest start since 2011. Fixed income markets are faring no better with the 10-Year Treasury up 26 basis points since New Year’s Eve (1.77% vs. 1.515) (Bond prices fall when yields rise). In addition, the yield curve continues to flatten (short-term rates rising faster than long-term rates) signaling that markets see the strong possibility of recession. There are two driving forces; The equity markets have come to realize that economic growth is slowing and corporate profits may languish in the new year; The markets’ fixation on inflation has caused another Powell (Fed) “pivot,” this one to a very “hawkish” Fed tightening stance. ADVERTISEMENT Slowing corporate profits certainly figure in equity values, but the bigger issue here is the Fed’s intention to significantly remove liquidity, the Mother’s Milk of rising share prices. And, of course, the anticipation … [Read more...] about The ‘Stealth’ Bear Market; For Many It Has Arrived
Share to Twitter Share to Linkedin Another downer week, only worse. Thursday morning's secure-looking barriers gave way in the afternoon. Friday blipped up then continued Thursday's fall, failing to fill its role as opposite day. (Charts at the end of the article show the action.) The broad, strong declines signaled a move into bear territory, regardless of the percent-below-peak calculations. However, there is hope because one week's dramatic move doesn’t necessarily define a trend. ADVERTISEMENT A convergence of factors can occur in a week that makes everything look magical or horrible. But then comes the respite - a weekend of calm contemplation. By Monday's opening, investors will have determined whether the previous week’s drama was appropriate or overdone. Will "overdone" be the conclusion this time? It would make for a nice rise. For stockholders, a sign that this selloff may be an over-and-done adjustment. For cash holders, a sign that some … [Read more...] about The Stock Market Stepped Into Bear Territory Last Week – Temporary Visit? – Next Week Will Tell
Share to Twitter Share to Linkedin Cryptocurrency prices are in decline across the board. The wise guys with blue check marks in their Twitter bios, and agents that get investor gurus on the financial news shows, are all patting themselves on the back with “I told you so”. Serious investors should not be listening to these drama queens. We all know crypto is a wild ride. Patience is a virtue, remember. “Hodl” the line. For 2022, one of the biggest stories in crypto investing is going to be the blockchain players that are expected to eat into Ethereum’s market share, and grow into hundred dollar or even thousand dollar coins. Every investor is chasing that theme as a way to diversify their cryptocurrency portfolio. We already know who the main “Ethereum Killers” are. For the most part, it’s Solana (SOL), Avalanche (AVAX), Polkadot (DOT) and Cardano (ADA). After writing “The Rise of the New Blockchains” about developer and investor sentiment for these … [Read more...] about Will Onslaught Of ‘Ethereum Killers’ Take Shine Off ETH As Market Falls?
Share to Twitter Share to Linkedin Topline The stock market plunged again on Monday—continuing a brutal streak of losses—with the S&P 500 falling into correction territory as investors worry about rising interest rates and await a key policy meeting from the Federal Reserve later this week. Key Facts The Dow Jones Industrial Average fell 1%, nearly 500 points, while the S&P 500 plunged 1.2% and the tech-heavy Nasdaq Composite 1%. The benchmark S&P 500 index, which is on track for its worst January performance ever, at one point hit correction territory, down more than 10% from its record high at the start of 2022. The CBOE Volatility Index (VIX), which measures market volatility, hit its highest level in nearly 12 months, surging over 37 on Monday morning. Investors continue to remain concerned about surging interest rates and are now looking ahead to the Federal Reserve’s upcoming policy meeting, which wraps up on Wednesday. … [Read more...] about Stock Market ‘Panic Is Setting In’ As S&P 500 Briefly Enters Correction Territory
Share to Twitter Share to Linkedin When the stock market is in turmoil, many investors are tempted to go to cash and wait for the dust to settle before getting back in. One of the issues here is how to time your exit and entry—unlike a flash flood or significant weather event, investors aren’t going to get an emergency alert on their phone when it’s time to take cover, run for the hills, or once it’s safe to return. Aside from the fact that in the financial markets, we only know this information in hindsight, the notion of going to cash until the market recovers also ignores another very real but less visible danger: missing out on the recovery. Stick it out or sell to cash? By way of example, here are three long-term investors who started to invest in 2006. For simplicity, this example doesn’t include the impact of taxes, inflation, and rebalancing. Dividends and capital gains assumed to be reinvested. Kim Kim invested $100,000 in March 2006 in an … [Read more...] about Should You Go To Cash Until The Market Recovers Or Ride It Out?
Share to Twitter Share to Linkedin Most investors realize trying to time the market by always buying low and selling high isn't a realistic endeavor. Yet even with that knowledge, if you have a substantial amount of cash to invest, the thought of investing when the stock market is hovering near all-time highs may give you pause. Similarly, when facing the opportunity to 'buy the dip' ( remember March 2020 ?), few investors have the stomach to do so. As reasonable as these examples may sound, they both describe aspects of market timing. Despite the recent pullback in the U.S. stock market, the S&P 500 has already set 10 new record highs in 2021 and coming off two very strong years. So what should you do if you have cash to invest and the market is strong? Should I invest when the market is high? Sitting in cash just because the S&P 500 is setting new highs is a mistake on several levels. First, when investing, it's critical to make decisions based … [Read more...] about Should I Invest When The Market Is High? Dispelling The Buy Low, Sell High Myth