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The HSBC marked the historic drop -18.79% one day

opened in HK at 45.9 and closed at 46.25 and the major drop for years.
Both the HK and US market will have a little rebound, however, I still believe the worst is not yet come.

I prefer to short when there is rebound around end of this week as most of the people expected good news from china market.

I would prefer to diversify the fund to other sector instead of more on banking sector because the business model has changed. I would keep Standard charter or ICBC rather than HSBC

3 March 2009

US Market
The Dow open at 7056 and close at 6763 –299.64 (-4.24%), the lowest is 6755 at 3:45am
Sector performance (% change on day): Financials (-6.83%), Tech (-3.21%), Health Care (-4.17%), Consumer Staples (-2.62%), Consumer Discretionary (-4.26%), Industrials (-6.71%), Energy (-6.41%), Telecom (-3.48%), Materials (-6.89%), Utilities (-3.74%).
The EUR trade at 1.2655 at 4:57 ahead of rate decision on 5 March

The GBP trade at 1.4118 at 4:58 pm and rate decision on 5 March

The CAD climbing high to 1.2840 4:48pm and rate decision will be release late and the market project that the CAD will be moving to 1.3017 or further 1.35 direction.
The JPY 97.80 at 4:59pm
The Gold price is April is 925 at 5:00 pm
The Crude Oil March is 40.7 at 5:00pm

Japan Market
The Nikkei open at 7177 and closed at 7229 –50.43(-0.69%)

UFJ closed at 421
Sumitomo Financial 2985 -5(0.16%)
Fast Retailing closed at 9380 +20(+0.21%)
Canon closed at 2330 -85 (-3.51%)
Toyota closed at 3060 -10(-0.32%)

HK Market
The HS Index open at 11967 and closed at 12033 -283 (-2.3%) the turnover volume is 429M
The 005 open at 45.95 and closed at 46.25 with volume 121M.
The 3988 closed at 2.09 no change turnover 427M
The 1398 closed at 3.03-0.05 (-1.623%) turnover 393M

China market

The Shanghai Market opened at 2047 and closed at 2071 with volume 799 M
The BOC RMB3.2 –0.31%
The ICBC RMB3.65 –1.35%

Release Reports

International –US Time
Tuesday, March 3, 2009
12:00 a.m. JPN: Jan Steel Imports & Exports Statistics
4:30 a.m. UK: Feb CIPS Construction PMI
6:00 a.m. FRA: Jan OECD CPI
9:00 a.m. CAN: Bank of Canada interest rate decision, Overnight Rate Expected: 0.5% Previous: 1%
6:15 p.m. JPN: Feb Svcs PMI
7:01 p.m. UK: Feb Nationwide Consumer Confidence Index
7:01 p.m. UK: Feb REC & KPMG Report on Jobs
US – US Time
Tuesday, March 3, 2009
7:45 a.m. ICSC Chain Store Sales Index For Feb 28: Previous: +0.6%.
8:55 a.m. Redbook Retail Sales Index For Feb 28: Previous: +0.9%.
10:00 a.m. Jan Pending Home Sales: Expected: -3.5%. Previous: +6.3%.
4:30 p.m. API Oil Industry Report For Feb 27
5:00 p.m. ABC/Wash Post Consumer Conf For Feb 28: Previous: -48.

Comments

Anonymous said…
#5 rights issue. Stay in or get out? What do you think?
"A Big No", that's the heading of today's Next Magazine.
I fully agree with your suggestion. It's better to shift the fund to other aspects than wasting time on those finance stocks.
By the way, are you coming to the guitar lesson tonight?
March 4, 2009 at 11:39 AM
sparkle said…
For the 005, it will be a long run, if already holding 005, I prefer to exercise the right and keep it. Then wait for good time to sell it.

But if u do not have any on hand, buy other China bank will be better if keen on financial market

For long term, it is still not the right moment to buy and hold

For short run, there are many good for trade.

I am so lazy didn't practise so I don't come la
March 4, 2009 at 5:57 PM
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