AMATOR's News & misc

[Amator]

Edited to insert the SGX Buy-in info ....

Singapore Exchange Limited (SGX) has announced improvements to its clearing and settlement system for securities traded on SGX, to

reduce the incidences of non-delivery of securities and imposition of the attendant penalties. These improvements will take effect

on Nov 6.

SGX says it has revised the cut-off time for delivery of securities to 12 noon on T+3 to allow buy-in to be conducted in the

afternoon for non-delivered securities to enable market participants to meet their delivery obligations. Only securities that are

not successfully bought-in by the end of T+3 will be deemed to have failed.

A summary of the improvements are:

* Bringing forward securities delivery cut-off time to 12.00pm on T+3

The revised cut-off time for market participants to deliver securities to meet their settlement obligations is streamlined to

12.00pm on T+3. Participants must ensure that they have sufficient securities in their accounts by that time, failing which CDP

will conduct buy-in for these securities.

* Earlier buy-in time on T+3

CDP will conduct the buy-in of undelivered securities on T+3 from 3.00pm to 5.00pm instead of the morning of T+4. This allows

identified open positions to be covered before the trade is deemed to have failed and the attendant penalties are imposed.

CDP will publish the list of securities to be bought-in on the SGX website on T+3 at 2.30pm.

To allow market participants to fine-tune their internal processes, SGX will allow a transition period from 6 November to 26

November 2009. The new buy-in time of 3.00pm on T+3 will only take effect on 30 November 2009.

* Failed trades on T+3

A trade is deemed to have failed if buy-in for the shortfall is unsuccessful by the end of T+3. SGX will impose a penalty of $1,000

or 5% of the value of the failed contract that was not bought in (whichever is higher) at the end of T+3. The existing arrangements

for SGX to consider appeals for the waiver of this penalty will continue.

* Continuation of buy-in for failed trades

Buy-in will continue on T+4 and T+5 from 3.00pm to 5.00pm for outstanding undelivered securities at the end of T+3. For failed

delivery of securities that cannot be procured after T+5, a penalty of $5,000 each day will apply.

For extended failed delivery of securities after T+7, or for failed delivery of securities in the buy-in market, the matter may be

referred to the Disciplinary Committee to decide on the appropriate penalty.



..............


SINGAPORE, April 27 (Reuters) - UBS on Monday upgraded City Developments (CityDev), Singapore's second-largest developer, to "buy" from "neutral" and raised the target price to S$7.60 from S$6.45. Describing CityDev as a "key call", UBS said it believed Singapore's economy
bottomed in the first quarter and that the rebound in the volume of home sales seen in the past two months was sustainable.

UBS reiterated its "buy" recommendation on Singapore's DBS and increased the target price to S$11.30 from S$10.30, citing reasons such as the banking group's ability to gain market share with increased funds gained from a recent S$4 billion ($2.69 billion) rights issue.

[Amator]

China's central government will arrange 70 billion yuan (10.3 billion U.S. dollars) for its third batch of stimulus investment, according to a Beijing-based newspaper citing an unidentified economic planning official. The new investment would fall short of the amount for previous ones and market expectations of a larger amount of investments than the first two, said the Economic Observer.

[Amator]

TOKYO, April 27 (Reuters) - Japan's Nikkei average rose 1.5 percent on Monday, buoyed by Shinsei Bank <8303.T> on news of its merger talks with Aozora Bank <8304.T>, while Chugai Pharmaceutical <4519.T> jumped on hopes for its flu drug as worries grew about an outbreak of swine flu.

Analysts said fears of a global flu pandemic helped dampen overall investor confidence, with new infections confirmed in the United States and Canada on Sunday, and millions of Mexicans staying indoors to avoid a virus that has already killed around 80 people.

Sumitomo Mitsui Financial Group (SMFG) <8316.T> climbed 4.2 percent to 3,220 yen after sources said the bank had gained exclusive negotiating rights to buy Citigroup Inc's <C.N> retail brokerage and part of its investment banking operations in Japan.

[fishingkakis]

thanks amator

[Amator]

June 29 (Bloomberg) -- Japan’s industrial output rose at a pace that matched the steepest increase in 56 years as companies rebuilt inventories and the economy started to climb out of its deepest postwar recession.

Production climbed 5.9 percent in May from a month earlier, the Trade Ministry said today in Tokyo, the same rate as the previous month, which was the biggest gain since 1953. Economists surveyed by Bloomberg predicted a 6.9 percent rise. Factories were still producing 29.5 percent less than last year.

The report adds to evidence the economy resumed growing in the three months ending tomorrow, following record contractions in the previous two quarters. Some $2.2 trillion in government stimulus worldwide propped up demand for Japanese exports and leaner stockpiles allowed manufacturers to raise output.

A separate ministry report today showed retail sales fell 2.8 percent in May from a year earlier, a ninth monthly decline, as a worsening job market forced households to cut back.

[Amator]

JPMorgan ups HK 2009 GDP forecast to 4.0% decline vs 5.5% drop previously, 2010 forecast to 4.8% growth from 3.5% growth previously. Says HK economy likely to continue to be supported by solid rebound in external demand in 2H, pickup in China's private consumption, especially in discretionary items including outbound travel to Hong Kong, also further cross-border economic, financial integration. Adds, local stock market's recent rally, rising property prices, recovery in regional trade flows, further fiscal stimulus have boosted near-term growth, bolstering domestic confidence. "Although business will likely stay cautious about capex and hiring, the labor market has shown encouraging signs of stabilization amid emerging hopes of a global recovery. Against this backdrop, consumer confidence has rebounded solidly after falling sharply since late last year," house says.

[fishingkakis]

Amator posting is always what I have been looking forward to everyday

[Amator]

July 1 (Bloomberg) -- U.K. stocks advanced, extending the FTSE 100 Index’s best quarterly gain since 2003, after Marks & Spencer Group Plc reported its smallest quarterly sales decline in almost two years.

The benchmark FTSE 100 Index added 58.78, or 1.4 percent, to 4,307.99 at 8:45 a.m. in London. The FTSE All-Share Index increased 1.3 percent.

Marks & Spencer jumped 3 percent to 315.25 pence. Britain’s biggest clothing retailer said revenue at U.K. stores open at least a year fell 1.4 percent in the 13 weeks ended June 27, the London-based company said in a Regulatory News Service statement today. That beat the 2.5 percent average estimate of 16 analysts surveyed by the company.

Royal Bank of Scotland Group Plc added 1.2 percent to 39.10 pence. Australia & New Zealand Banking Group Ltd. may buy the U.K. lender’s units in at least five Asian countries, people familiar with the plan said.

[see*]

Amator, the Dow 'leaked' data that you mentioned....all those with ET 10am..etc,
I looked high and low but not able to find that article,thought you mentioned that you have posted in the Forum...
did I read you wrongly ? Can post it again please ?
Sorry for the trouble. Many thanks. Regards.

[Amator]

June reading on private-sector employment from payroll services firm ADP is scheduled to be released at 8:15 a.m. ET. Employers are expected to have cut 394,000 jobs from their payrolls in June after cutting 532,000 in May.

Pending home sales, due out at 10 a.m. ET from the National Association of Realtors, is forecast to be unchanged in May after rising 6.7% in April.

Also at 10 a.m. ET, the Institute for Supply Management's June manufacturing index is expected to have risen to 44.6 from 42.8 in May, according to forecasts.

May construction spending, released by the Commerce Department at 10 a.m. ET, is expected to have fallen 0.6% after posting a surprise rise of 0.8% in April.