HSBC bank (in HK) stop trading MYR


can anyone confirm if true or fake?

Only have enough for a semester which is 6 months.. from what I see this isn't going to stop anytime soon. Right?

I believed this is only short while until China and Greece fix their problem. As the saying, what goes up must come down. Anything can happen in 1 year time.

Ramjade,

1) What makes you think that China and Greece can fix their problem quickly?

<<As the saying, what goes up must come down. Anything can happen in 1 year time.>>

2) Remember the Titanic. It was sunk.

Do not invest based on your FEELING. Look at the actual data. Even better, make sure that it works under ALL circumstances. Make sure that you can "go to sleep for 5 years" with your investment.

Dreamer

dreamer101,
History doesn't repeat itself, but I luv to watch

16 Aug 2015 22:30 UTC - 17 Aug 2015 22:37 UTC
USD/MYR close:4.10180 low:4.06900 high:4.11500

Seems to stabilize @ 4.10 +/-?

1.00 USD = 4.10330 MYR
US Dollar ↔ Malaysian Ringgit

Be prepared for even lower Ringgit devaluation in September on the possibility of US interest rate hike news. The only way to preserve the value of Ringgit is for BNM to hike interest rates. BNM has less than 100 billion USD left in foreign reserves. No way they wanna spend all their bullets.

Refer to http://www.theedgemarkets.com/en/article/b...k-us967-billion

My economist friend in Khazanah already confirms that property prices are going downwards the next few years. The incoming recession this round might be worst than 1997 as it will probably last almost a decade.

With the increasing possibility of lower employment rates and business sentiment, many people are cutting down on unnecessary expenditure and companies are lowering their forecast. Commodity prices are trending downwards and will likely stay low for the moment whereas our country's debt remain high. 1MDB alone generates 5 million in interest rates a day. Not sure if our country can continue to service the federal debt in the long term if business is bad. Foreign outflow just contributes more to the "morale" and worsening business sentiment. Hopefully Bank Negara will do something soon.

Good luck have fun guys.

The proportion of foreign funds are too much..

What is your plan ?

Have you sold everything you have in malaysia including property, car, KLCI stock, unit trust, your watch, your wife's collection of LV bags, redeem your insurance etc, and convert the proceeds from the sale to USD, and at the same time applied for migration ?

If you believe that would happen, I would encourage you to do so, just like what unker dreamer preached.

Or if you think there are >50% chance that would happen, at least sell half of what you have and convert to USD and park them offshore. Very logical move right ?

My sifu,

Hot money from KLCI came from USA QE. When QE started, KLCI was around 1000 point. And it drove up the KLCI to 1800 over a few years

Now hot money is leaving by dumping equity. So, the bottomline should be 1000 point. Give it some inflation and margin of error 20%, say 1200 point.

So, 1200 is the target and in the meantime, let's short kaw kaw with confidence !

Would it be too low target set at 1200? I foresee this is hardly to be happen. Just grab what you think is worth buying instead of just kept waiting there.

Ya, I wonder the economist is doing something to hedge the position, like shorting FKLI.

If the economist's prediction is true, then he/she may make a big kill in the market.
Short 100 contracts of FKLI if the recession is indeed worst than 1997, it just suggests KLCI may drop more than 50%.

50% drop from 1600 level, means 800 points.

800 points x Rm50 = 40K per contract.

100 contract x 40k = RM 4 mil.

Don't need to so troublesome to convert to USD, sell car or property, just pick up the phone tell remisier want to sell FKLI for 100 contracts, done.

Yea I think so too. But a forummer share a chartist prediction of 1200. I keep that in mind as it is always a possibility. Never know

Many counters now looking cheap have been buying slowly hopefully on its way until bottom and wait for rebound.

Wow..

U berry bearish leh..

Kikiki..

So now u prepare to take out your shorts and put it lelong at klse liao?

Yea.. rather than making only 10 -20% and much hassle to put money here n there and cannot use..

just kasi short it saja

kikiki

Two options for the ringgit
http://www.thestar.com.my/Business/Busines...ggit/?style=biz

Which direction Zeti will follow?

my bet is still at raising of opr rates..

because depletion of reserve will be berry berry hard to rebuild back

especially with this current government..

so with opr going up..
ding ding ding

prop will ulala
then i will buy condo with price like 200k 300k again

There is also 3rd option, selective capital control.

Not limited to 2.

Also, BNM can choose neither as well.
No interest rate hike, no defend the RM using foreign currency reserves, just let RM slide down orderly.