KLCI is Now Bullish
Berita yang dinanti-nanti akhirnya tiba. Pasaran saham global sedang melakukan rally ketika ini. Saya sendiri agak bullish buat ketika ini, sedang berfikir untuk switch semula ke dana ekuiti sejak kelmarin. Malah harga emas juga turut naik. Malam tadi saya ada menambah sedikit koleksi emas fizikal, harga emas runcit dijangka naik minggu depan. Petikan dan graf di bawah akan memberi inspirasi kepada anda juga:
NEW YORK, Oct 28 — A long-awaited plan to staunch the European debt crisis sparked euphoria across financial markets yesterday, driving up the value of the euro and the price of world stocks, crude oil and other commodities.
Major US stock indices, which had been close to bear territory in the summer because of the debt crisis, climbed back into the black for 2011, with the benchmark S&P 500 on track to post its biggest monthly gain since 1974.
Metal prices jumped five per cent or more, US oil rose more than four per cent and the euro gained 2.4 per cent after European leaders agreed to a sweeping plan to resolve a crisis that has threatened to push the US and other economies back into recession.
The deal envisions a recapitalisation of European banks, a far more powerful rescue fund for the euro zone and 50 per cent losses for Greek debt holders.
For the moment, investors shrugged off the fact that key aspects of the deal, including the mechanics of boosting the firepower of the European Financial Stability Facility and providing Greek debt relief, could take weeks to finalise.
“This is not a magic elixir. It’s a verystart and certainly more than people had expected,” Bill O’Neill, partner at commodity investment firm LOGIC Advisors, said of the deal.
The euro surged past stop-loss points as investors reacted positively to the deal, gaining 2.4 per cent to US$1.4209 (RM4.3905). Investors were forced to unwind bets against the single currency as they awaited more details.
World stocks extended gains to hit their highest level since early August, with the MSCI all-country equity index rising 4.3 per cent.
US stocks rallied more than three per cent, and in a sign of investor relief, Wall Street’s “fear gauge,” the CBOE Volatility Index, fell 15 per cent.
The Dow Jones industrial average was up 358.81 points, or 3.02 per cent, at 12,227.85. The Standard & Poor’s 500 Index was up 44.31 points, or 3.57 per cent, at 1,286.31. The Nasdaq Composite Index was up 93.95 points, or 3.54 per cent, at 2,744.62.
Data showing the US economy grew at its fastest pace in a year in the third quarter as consumers and businesses stepped up spending also helped spur risk appetite.
US gross domestic product expanded at a 2.5 per cent annualin the third quarter, the Commerce Department said.
Emerging market shares, as measured by MSCI, surged 4.1 per cent. European shares soared to their highest close in 12 weeks, with French banks, heavily exposed to euro zone peripheral debt, among the biggest gainers.
Credit Agricole gained 22 per cent and BNP Paribas shot up 17 per cent.
The FTSEurofirst 300 index of top European shares ended the session up 3.7 per cent at 1,020.10, the highest close since August 3.
“Decisions have been made, whatever they are, and that’s a good thing. I fear further down the road we’ll find they’re not as good as we thought,” said Gavin Launder, fund manager at Legal & General, which has £356 billion under management.
Crude oil jumped to US$112 a barrel as the European debt deal and supportive US data eased concerns that economic weakness could curb energy demand. Oil later pared its gains.
ICE Brent December crude closed up US$3.17 to settle at US$112.08 a barrel, while US light sweet crude oil rose US$3.76 to settle at US$93.96 a barrel.
Prices of safe-haven US Treasuries and German Bunds tumbled, while those of highly indebted euro zone countries gained.
The benchmark 10-year US Treasury note was down 52/32 in price to yield 2.40 per cent.
Spot gold prices rose US$21.35 to US$1,745.10 an ounce. — Reuters