SSE Comp closed 5.77% lower.

HSI dropped 0.83%

China’s Stocks Plunge to Three-Month Lows as Bear Market Deepens

China’s stocks slumped, extending a bear-market rout, as government measures to shore up equities failed to stop margin traders from unwinding positions.

The Shanghai Composite Index sank 3.5 percent to 3,776.41 at 9:30 a.m. local time. The gauge has tumbled 27 percent from its June 12 peak, helping wipe out at least $2.8 trillion of value.

URL: http://www.bloomberg.com/news/articles/201...-market-deepens

Who is attending FSM event tomorrow at KL?

Still bullish on China

But Value Partners founder Cheah Cheng Hye sees a global financial crisis happening ‘sooner or later’.

CHAIRMAN of Value Partners Group Ltd Datuk Cheah Cheng Hye saw the 20% correction in Chinese stocks coming.

That’s before the Shanghai Stock Exchange Composite Index (SSE) peaked in mid-June, after surging 150% in a year.

At a time when experts from the West are trimming China’s economic growth forecast to below 7%, Cheah holds on to his bullish views on China’s growth in the long term.

URL: http://www.thestar.com.my/Business/Busines...hina/?style=biz

Any tips from today's event?

China brokerages pledge to buy $19.3 billion in shares to steady plunging market

BEIJING (Reuters) - China's top securities brokerages said on Saturday that they would collectively buy at least 120 billion yuan ($19.3 billion of shares in a bid to stabilize the country's stock markets after a slump of nearly 30 percent since mid-June.

URL: http://finance.yahoo.com/news/china-broker...-075109165.html

The art of investment

CHEAH places high importance on learning. He always seeks to reinvent himself by trying to master and learn new things. Having carved out a name for himself in the area of investment, Cheah shares some of his investment philosophies. He concedes that he does not know everything but have suggestions. Find below some excerpts when Ng Bei Shan and David Tan caught up with Cheah who was in Penang for vacation:

Read more: http://www.thestar.com.my/Business/Busines...ment/?style=biz

Money market fund.

RHB-OSK Cash Management Fund 2

China curbs IPOs, enlists brokers in all-out bid to end market rout

BEIJING/SHANGHAI: Beijing intensified efforts at the weekend to pull China's stock markets out of a nose-dive that is threatening the world's second-largest economy, with top brokerages pledging to buy massive amounts of shares and a report that the government has set up a market stabilisation fund.

Beijing has also suspended new share offers in an attempt to take pressure off the market after a 30 percent plunge in three weeks, the Wall Street Journal said.

The reported suspension of initial public offers (IPOs) came a few hours after extraordinary announcements by major brokers and fund managers, which collectively pledged to invest at least $19 billion of their own money into stocks.

URL: http://www.thestar.com.my/Business/Busines...IPOs/?style=biz

First of all, you have two account numbers for the same fund that you invested into since both are them are managed differently.

EPF: own name + plus every transaction ultimately goes back to your EPF
Own: nominee as normal FSM account

Tsipras Triumphs as Greece Votes Against Austerity

Greece voted against yielding to further austerity demanded by creditors, leaving Europe’s leaders to determine if the renegade nation can remain in the euro.

Sixty-one percent of voters backed Prime Minister Alexis Tsipras’s rejection of further spending cuts and tax increases in an unprecedented referendum that’s also taken the country to the brink of financial collapse.

Tsipras described the result as a “great victory”, and said Athens would return to the negotiating table on Monday with a strengthened hand.

URL: http://www.bloomberg.com/news/articles/201...erendum-triumph

China rolls out emergency measures to prevent stock market crash

BEIJING/SHANGHAI (Reuters) - China's stock markets face a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that would threaten the world's second-largest economy.

The government is anxiously awaiting the market opening on Monday to see if the new measures will halt a 30 percent plunge in the last three weeks, or if panicky investors who borrowed heavily to speculate on stocks will continue to sell.

In an extraordinary weekend of policy moves, brokerages and fund managers vowed to buy massive amounts of stocks, helped by China's state-backed margin finance company which in turn would be aided by a direct line of liquidity from the central bank.

China has also orchestrated a halt to new share issues, with dozens of firms scrapping their IPO plans in separate but similarly worded statements over the weekend, in a tactic authorities have used before to support markets.

URL: http://finance.yahoo.com/news/chinese-offi...-110047668.html

Ringgit Tumbles to Weakest Since 3.8 Dollar Peg Scrapped in 2005

Malaysia’s ringgit tumbled to the weakest level since a dollar peg was scrapped in 2005 as the heightened risk that Greece will exit the euro damped demand for emerging-market assets.

The currency dropped 0.7 percent to 3.8045 versus the greenback as of 8:21 a.m. in Kuala Lumpur, data compiled by Bloomberg show. The currency was fixed at 3.8000 per dollar in 1998 during the Asian financial crisis after it slumped 35 percent the previous year amid a devaluation in the Thai baht.

URL: http://www.bloomberg.com/news/articles/201...crapped-in-2005

Bravo Najib! Bravo BN!

Investors should stay defensive

DESPITE having spent US$10 trillion in trying to stimulate their economies and fighting financial crises, central banks are still faced with the prospect of slower global growth and loads of debt.

URL: http://www.thestar.com.my/Business/Busines...sive/?style=biz

Opens 7.82% higher

Anybody tops up today?

Just topped Ponzi 2.0 today!

This post has been edited by David83: Jul 6 2015, 01:11 PM

Hong Kong Stocks Sink Most Since ’12 on China, Greece Double Hit

Hong Kong stocks sank toward their steepest drop since 2012 amid speculation Chinese investors were shifting money out of the city’s market and as Greece’s rejection of austerity measures spurred equity declines across Asia.

Hong Kong Exchanges & Clearing Ltd. tumbled 9.8 percent at the lunch break, on course for its biggest decline since October 2008, after Goldman Sachs Group Inc. recommended selling the shares. Haitong International Securities Group Ltd. slid 15 percent as mainland brokerages slumped. Internet company Tencent Holdings Ltd. fell 7 percent, dragging the city’s benchmark equity index lower.

URL: http://www.bloomberg.com/news/articles/201...eece-double-hit

USD-MYR breaches 3.80XX level? Is this because of him?

I thought you need to confirm your order by keying your password again at the shopping cart.

Euro zone shares fall nearly 2pc after Greek ‘no’

LONDON: Top euro zone shares fell 1.7 percent in early trading on Monday after Greek voters rejected austerity measures demanded in return of a debt deal, raising concerns about the country’s possible exit from the euro zone.

Banks were the worst hit, with the Euro STOXX banks index down 2.3 percent. Italian banks including Unicredit were down 3 to 4 percent while Portugal’s Banco Comercial Portugues fell 3 percent.

Read More : http://www.nst.com.my/node/91050