Moving Free, 'Yuan currency' Start Slowly Rising.

Reporting BEIJING - The yuan exchange rate strengthened on Tuesday morning trading, after the Central Bank of China promised to let the currency trade more freely against dollar.

People's Bank of China set a level of parity as the central point of the official trading currency is moving at 6.7980 against the dollar, or 0.43 percent higher than 6.8275 in trading Monday before yesterday.

Quoted from the AFP, Tuesday, (22 June 2010), the Central Bank had pledged this weekend to make yuan more flexible, without prejudice to the sharp fluctuations of the currency or one-time adjustments.

The move was widely performed as a bid in spite of facing the Group of 20 summit which will take place in Canada this weekend. Where central China are accused of mounting overseas who control China's forex and give exporters a competitive advantage and create unfair.

In trading in China on Monday, penetrating 6.8 yuan or precisely where 6.7969 against the dollar rose 0.40 percent before the close of trading. This figure is the strongest since unpegged yuan policy makers of the dollar in mid-2005 move.

However, the level of trading on Monday yesterday still in a tight trading range in Beijing where the analysts said, when China promised this is not a sign of a big revaluation. Thank you for visiting (otofinanceinfo)

Read more...

Wall Street increased in the 200th Pts

NEW YORK, otofinanceinfo - Wall Street jumped sharply in trading Tuesday, 15 June 2010. where investors make purchases party. Dow Jones index turned positive for this year and rise above 200.

Investors are motivated over the success of debt auctions in Spain, Belgium and Ireland, the European concern over the debt crisis. Euro rally against the dollar and pushing commodity prices higher.

"You saw the return of confidence in this new and clearly this new pricing evidence kepara euro. Clearly there is a trend to return to risky assets," explains Managing Director of Stifel Nicolaus Capital Markets, is 'Tom Schrade'. as quoted from Reuters, Wednesday, 16 June 2010.

Average Dow Jones Industrial (DJI). climbed 213.88 points, or 2.10 percent, to 10,404.77. Standard & Poor's 500 Index's (SPX). rose 25.60 points, or 2.35 percent, to 1,115.23. The Nasdaq Composite Index (. IXIC) climbed 61.92 points, or 2.76 percent, to 2,305.88.

Trade moderate with transactions running at the New York Stock Exchange reached 8.41 billion, below average last year reached 9.65 billion.

The positive sentiment from the European single currency also makes the euro rose to above USD1, 23 which is the highest level since June 3.

Semiconductor stocks helped lift the Nasdaq after TSMC (2330.TW) and UMC (2303.TW), two of the world's largest contract chip maker, forecast increased demand in the coming months amid an improving global economy and rising sales of new personal computers and other consumer gadgets.

Intel Corp. (INTC.O), the world's dominant chipmaker, added 2.8 percent to USD21, 48, while Broadcom Corp. (BRCM.O) rose 5.7 percent to USD35, 84, and Marvell Technology Group Ltd. (MRVL.O ) jumped 8.3 percent to $ 18, 94.

S & P index of energy stocks (GSPE). gained 2.7 percent, with US-listed shares of BP Plc (BP.N) up 2.4 percent at USD31, 39. Halliburton Co. (HAL.N) rose 6 percent to $ 25, 46, while Cameron International Corp. (CAM.N) rose 4.4 percent to USD37, 38.

Shares of Intel Corp., which is the largest chip producers jumped 2.8 percent, up 5.7 percent of Broadcom Corp. and Marvell Technology Group jumped 8.3 percent. thanks already visited (otofinanceinfo).
Photo: Corbis

Read more...

South Korea - Start Controls Won Currency Exchange Rate.

Reporting SEOUL - The latest news of economic challenge, 'The South Korean government' announced the start to limit currency trading in the banking sector.

Transactions in banks and financial institutions 'south korea' which is bounded forward currency transactions, cross-currency swaps and currency non-deliverable forwards.

Reuters, Sunday, 13 June 2010, this step is intended to control short-term debt and fluctuations in the flow of funds so that it can suppress the economic risk.

The financial authorities 'south korea' fear a sharp decline in the won exchange rate, as long as world market turmoil caused by the debt crisis will negatively affect European Affairs of ginseng. 'South Korea' to stabilize the exchange rate and reduce overseas borrowing.

"This policy aims to reduce fluctuations in capital flows that could trigger a systemic risk to the state and not the intervention to a specific value, said Minister of Finance, financial regulators, and 'South Korean Central Bank'," in a joint statement.

He added that countries should prepare a special rescue tools for critical instruments such as the high volatility in capital flows.

Restrictions should be implemented in October, and is applicable to local and foreign financial institutions. But official data from Government 'south korea' indicates a foreign bank must immediately implement this new rule.

These new rules will reduce the forward and futures transactions by bank and non-bank institutions in the 'south korea' by 50 percent. Capital requirements for foreign banks increased 240 per cent of bank capital.

As a result, local banks' capital requirements is only one thirtieth of a foreign bank. Currently, foreign bank derivative transactions reached 300 percent of their capital, while local banks have visited only 15.6 persen.Terimakasih (otofinanceinfo)

Read more...

Dow Jones, Stronger Thin 5 Points

Reporting NEW YORK - The latest information about the economy. Index 'Dow Jones' only thin about five points higher, accompanied by a strengthening of seed stocks in the 'Wall Street', which involved strengthening thin at the close of trading Thursday, 4 June 2010. local time.

A number of investors re-consider the existence of the signal varies with the economic recovery superpower 'United States', ahead of May jobs data report is awaited.

As quoted from the 'AFP', Friday, 4 June 2010, the main index skidded lower but rose again to close in positive territory, after opening with moderate rise.

This can be shown, with the 'Dow Jones Industrial Average' little rose 5.74 points. 0.06% to 10255.28. This suggests an extension rally sharply Wednesday 2.25%. Meanwhile, the technology-heavy Nasdaq index climbed 21.96 points (0.96 percent) to 2303.03 and the S & P 500 index gained 4.45 points (0.41 percent) to 1102.83, breaking the psychological threshold of 1100 sensitive.

"Currently, shares war against weaker today, as all three major market indexes struggled to extend its bullish action on Wednesday for the second consecutive session," said analysts 'Schaeffer `s Investment Research' is Elizabeth Harrow.

Department of Labor will publish employment data and unemployment on Friday, one hour before the stock market opened.

Meanwhile, investors have a diverse bunch of news to digest, including the decline in weekly initial claims of unemployment, the report 'ADP' disappointing on job creation and private sector ISM index is flat in the service sector growth. thank you already visited my blog. (Otofinanceinfo)

Read more...

'CIMB' targets, Indonesian Exchange

Saturday, May 8, 2010 - 15:17 PM

KUALA LUMPUR Reporting - I will deliver news about the monetary, here's the news .... 'CIMB' Group, a Malaysian investment company, plans to issue shares in the stock of Indonesia. However, the plan can not be realized due to hit the Indonesian capital market regulations that have not allow foreign companies take the floor on the stock in the country.
"We continue to communicate with Bapepam-LK (Capital Market Supervisory Agency and Financial Institution). Hopefully, the capital market regulator provides convenience for foreign companies, "said 'CIMB' Group CEO Dato 'Sri Nazir Razak told a news conference after the implementation of the 53rd Annual General Meeting of 'CIMB' Group in Kuala Lumpur yesterday.

Nazir said the current market capitalization of Malaysia's 'CIMB' Group on the stock reached $ 15 billion. If you can be listed on Indonesia, 'CIMB' hopes to become one of the largest investment companies in ASEAN.

"We want to enlarge our market capitalization on the stock of Asia," he said. He said his company wanted to provide opportunities to the Indonesian public to own shares of 'CIMB' Group through the issuance of the shares. "The people of Indonesia can own shares in addition to 'CIMB' Group 'CIMB' Niaga. If the rules are ready, we will become the first foreign company listed its shares in Indonesia, "he said.

Besides in Indonesia, 'CIMB' Group is also planning to issue shares on the Stock Exchange of Thailand. In that State 'CIMB' aims to improve the branding and positioning in order to attract more Thai customers. "Problems in the ASEAN countries together, namely the absence of strict rules regarding foreign companies. In Malaysia any new start, "he said.

In Thailand 'CIMB' Group has received permission from the authority of the issuance of shares of stock since last year. Issuance of shares will be made on the next July with the number of shares issued reached 100 million shares and a target market capitalization of $ 600-800 million Malaysian ringgit. According to him, 'CIMB' is not affected by the political disputes in Thailand. "On CNN there was a news like that, but we remain on plan," he said.

Indonesia Contributors Biggest Profit

On the other hand, Nazir said, in the next five years to target the Indonesian side could become the biggest profit contributor for this Group.Saat 'CIMB' 'CIMB' Group's profits still come from Malaysia's largest, reaching 70 percent of the total profit in 2009 amounted to $ 6, 4 billion.

Meanwhile, 'CIMB' Group's subsidiary in Indonesia, 'CIMB' Niaga and 'CIMB' Securities, contributing approximately 20 per cent profit. Then from Thailand amounted to one percent, while from Singapore and some other countries 5 percent. "In 2015 Indonesia targeted to contribute about 40 percent of total profits. So maybe the biggest of the entire region, "he said. One effort, by 'CIMB' strengthen the market in Indonesia is by acquiring companies multifinancekecil. 'CIMB' is currently carrying out studies on a number of companies.

"We're more interested in the multi for a motor because it has not got. In addition to the well during the last 10 years otofinance very large market opportunity. We must grab this opportunity, "said 'CIMB' Niaga President Director Arwin Rasyid. Arwin said, there are two companies targeted by the asset value of around Rp1 trillion, but the capital is only one tenth of the value of the asset. The decision to acquire will be achieved in June. "Maybe the end of the month ini.Satu this month. So June was to report, "he said. Nazir added that 'CIMB' Niaga will also strengthen its business lines sharia in Indonesia. Growth prospects for Islamic banking in Indonesia is very big.

This condition is the same as Malaysia, 'CIMB' was able to show themselves as Islamic investment bank and the second largest consumersyariah. Arwin said that Commerce Bank will follow the concept of Islamic bank in Malaysia to adopt a dual banking strategy. All branches sooner or later will provide Islamic products. "So when customers come into our branches, they have a choice to save money on conventional or Islamic," he said. (Otofinance)

Read more...