Philip Chua Business Blog

Posts Tagged ‘banks’

Sovereign debt levels, in absolute and relative terms, will continue to be a problem for all too many as governments step into the black hole of banks’ deleveraging – nationalisation by the back door. The FX market is overstretched in many areas and likely to correct some of February’s moves….

INVESTORS showed they were determined to end on a high note in what has been a wild year by sending the market to a 16-month high yesterday.
Banks and property counters were the stars on the last full day of business as traders dressed up their prices for one last final time.
It all helped to send the Straits Times Index (STI) up 10 points to 2,879.76, bringing the total gains for the year to 63.5… more

STOCKS here started the holiday-shortened week on a bullish note yesterday, propelled by major contract wins at some firms and renewed optimism for the economic recovery boosting banks and commodities-related stocks.

The Straits Times Index (STI) finished 36.34 points or 1.3 per cent higher at 2,797.88, the highest closing level since Aug 14 last year.

Elsewhere in Asia-Pacific yesterday, othe… more

A PUSH on the three banks in relatively thin volume initially helped send the Straits Times Index up 40 points to 2,785 yesterday but afternoon concerns triggered by a firming US dollar and the associated worry over how Wall Street might react brought the index down to 2,758.79 for a closing gain of just 13.75 points.
Excluding the STI components and derivatives, there were 215 falls versus 144 ri… more

A 70-POINT rise in the December futures contract on the Dow Jones Industrial Average, a 1.7 per cent rise in Hong Kong’s Hang Seng index and a firm opening Europe-wide yesterday led traders here to bet heavily on Wall Street opening the week with a bang. The subsequent buying targeted mainly banks and propelled the Straits Times Index up 56.62 points to 2,783.85 in moderate volume of 1.85 billion … more

A PUSH on the banks helped the Straits Times Index yesterday rise 14.22 points to 2,707.6 in a tepid session that saw the broad market record 163 rises against 218 falls excluding derivatives.
The softness was not overly surprising given that the index had already risen sharply on Monday ahead of the US rally which meant that it made sense for investors to sell into strength yesterday. Providing a… more

Regulators have shut small banks in Georgia and Michigan, bringing the number of bank failures this year to 117 amid the struggling economy and a cascade of defaults on loans.

The U.K. moved to break up parts of bailed out financial institutions, highlighting a divide across the Atlantic over how to deal with the banks that were partially nationalized.

Once upon a midnight dreary, some questioned the merits of economic theory. In the midst of the Great Recession, there was concern that zombie banks would lead to a perennial economic equivalent of the Night of the Living Dead. But while the economic threat was larger than anything we saw…

Reuters – European Central Bank Governing Council member Christian Noyer warned that banks are taking the same risks that led to the financial crisis and said they should preserve capital rather than pay it out to bankers and investors.