Archive for December 23rd, 2009

ECONOMICS has long been known as the dismal science. But is any economist so dreary as to criticise Christmas? At first glance, the holiday season in western economies seems a treat for those concerned with such vagaries as GDP growth. After all, everyone is spending; in America, retailers make 25% of their yearly sales and… »

After the panic, the relief. Some of the building blocks of the prolonged market rally that began in March 2009 will still be around in 2010. First, central banks, nervous about raising rates until they are sure the financial system has recovered from the trauma of the credit crunch, will keep interest rates low. Second,… »

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner expressed confidence on Tuesday that the U.S. economy was on a solid recovery path, but said tight lending practices by banks still pose a risk.

Economy

“Right now, the real risk we face is that banks are not lending enough and not going to provide the capital businesses need… »

— Datatec general meeting.
WHAT TO WATCH FOR:
With no major local events due today, markets will eye their international counterparts for direction.
Local conditions have quietened considerably, with many players away for the December vacation.  Conditions are expected to remain subdued until the first week of January.
ON THE HORIZON:
Dec 24: Weekly treasury bill auction.
Dec 25:… »

SINGAPORE — Asian share markets were mostly higher in thin trading Wednesday, with Australian coal stocks shining on corporate action and technology firms advancing across the region.

Australia’s ASX/S&P 200 was up 0.6%, South Korea’s Kospi Composite edged up 0.1% and Hong Kong’s Hang Seng Index was flat, while the Shanghai Composite Index added 0.5% in… »

Major stock indexes advanced Tuesday afternoon, helped by a surprisingly strong reading of existing-home sales.

The gains were limited by a lowered reading of U.S. gross domestic product for the third quarter, though traders took solace in a pared-back reading of inventories. Such a trend suggests that businesses may yet have more spending to do to… »