KSE witnesses mixed trend
Karachi Stock Exchange has witnessed mixed trend on Monday.
Bears ruled Japan while Hong Kong and Korea remained up.
Morgan Stanley Asia Pacific Index gained 0.51 percent while Japans Nikkei Index 0.3 percent. Topix lost 0.8 percent.
Hang Seng hit 10-month high as it gained 1.4 percent.
Crude oil prices down as dollar rises
A mixed trend is witnessed during oil trading in the Asian market as the commodity rate remained less than $75.
Decrease in demand in USA also lowered the oil purchaseLight Sweet Crude Oil for November delivery is up by 13 cents to $74.84 cents. London Brent North Sea deals reached $77. 79 cents.
5 shot dead as chaos rules Karachi
Another five persons have fallen prey to targeted killings and other incident of torture on Saturday in Karachi.
According to police, some unidentified felons sprayed bullets at parked taxis, killing a taxi driver while a passenger riding a bus injured at Banaras Chowk, Orangi Town. One Asif Iqbal is killed by firing of unknown criminals at Metrool, Orangi while a bullet-riddled body of a youth is found from Site Area. Activist of Peace Committee Imran has been gunned down in Khada Market, Lyari. In Nazimabad, a doctor got injured when some men opened fire at his clinic located at Paposh Nagar. So far, as many as 34 people have been mowed down in the recent spate of targeted killing.
Mohmand: Six killed in landmine blast
At least six volunteers of Peace Committee have been killed while 4 others injured in a landmine explosion in Mohmand Agency, Dunya News reported on Saturday.
As per official sources, a blast took place in a landmine at a Peace Committees checkpost at Bahidog Chowk, Tehsil Baizai. Resultantly, 6 volunteers were killed while 4 wounded. The injured have been shifted to Peshawar Hospital.
Cincinnati Masters:Federer, Roddick and Murray cruise into quarterfinal
World number one Rafa Nadal was knocked out of the Cincinnati Masters by Marcos Baghdatis on Friday, the Cypriot winning the quarter-final 6-4 4-6 6-4.
Baghdatis goes through to meet Switzerland’s Roger Federer in Saturday’s semi-final while the other match-up is an All-American affair with Andy Roddick facing Mardy Fish. Nadal double-faulted at break point with the game at 4-4 in the third allowing the 20th ranked Baghdatis to serve out for the win.
The prospect of the US’s top two men battling for a spot in the final is a timely boost for the American game which is without a top ten male player going into the US Open at the end of the month. After struggling with illness recently Roddick looks in good shape after defeating fifth ranked Robin Soderling on Thursday and his 6-4 7-5 win over world number two Djokovic. Fish took advantage of an exhausted world number four Andy Murray, who struggled in 100-degree heat (38 Celsius) and lost 6-7 6-1 7-6 to the unseeded American. Fish, ranked 36th in the world, has now beaten the Briton in three successive meetings following victories in Miami and at Queen’s Club, London. Fourth seed Murray won the opening set tiebreak despite producing his first double-fault at 5-5 but the tired Scot then struggled in a one-sided second set. Both players held serve throughout the decider and Fish emerged victorious against a frustrated Murray who, after losing a rally on the penultimate point, thrashed the ball out of the stadium.
Mixed trend at KSE
The Karachi Stock Exchange remained volatile on Friday and witnessed mixed trend on the last day of the business week.
KSE Index closed at 9,860 with an increase of 37 points. Business volume remained lower on the first day of business.
Investment Choices Seen Tougher in 2010
NEW YORK: Investment choices will become tougher in 2010, after the easy money reaped across most asset classes this year, as weak credit availability and a high jobless rate temper U.S. economic growth, said moneymanagers at the Reuters Investment Summit in New York.
Without a meaningful pick-up in bank lending, businesses will be hard-pressed to grow at rates typical of a post-recession environment, analysts said.”The concern we have is whether or not people have money to spend, ormoney to borrow,” said Max Darnell, chief investment officer of investment firm First Quadrant.Without improvedaccess to credit, a double-dip recession is possible, said Darnell, whose fund manages nearly $18 billion.Growth inreal gross domestic product in 2010 will likely be 3 percent or slightly higher, because the “velocity” of money, orbank lending, remains low, Bob Doll, vice chairman and chief investment officer of global equities at BlackRock Inc,the world’s largest investment firm, said.
Growth of 5 percent or slightly higher is more typical coming off a recession low.
Also clouding the investment climate, lingering high unemployment and sluggish wage growth are likely to keep a chillon consumer spending, which traditionally is the engine for U.S. growth.As the U.S. equity market enters a phasedriven by fundamental earnings growth, Doll said potential deflation trumps other worries.”We’re past the point wherethe market goes up faster than earnings. … The earnings phase is bumpier, and growth isn’t quite as good,” he said. Poll said the broad-based S&P 500 index could reach 1,200 to 1,300 points in 2010, against Tuesday’s close of 1,091points, helped by companies’ continued efforts to contain costs.The S&P 500 index is up about 64 percent from lowshit in March during the height of the recession and financial panic, as risk aversion has receded.
“We do see a significant amount of upside, but that’s without a whole lot of top-line growth. Corporate America hasshown through productivity and cost-cutting an amazing operating-leverage capability,” Doll said.The U.S. economyexpanded at a 2.8 percent annual rate in the third quarter, snapping four straight quarters of decline.But even afterthe unemployment rate declined unexpectedly in November and job losses were much smaller than expected, thereare concerns that the economy faces a bumpy road.Shawn Kravetz, president of Boston hedge fund EsplanadeCapital LLC, said the economy is not on a glide path higher given continued constraints on consumer spending.
“The consumer has had a stay of execution but there’s still a lot of hard labor yet to come,” he said.
FED ON HOLD FOR NOW
Most strategists agreed that with unemployment high and inflation low, the Federal Reserve would not raise interest rates from current rock-bottom levels, at least for the first half of 2010.Financial markets brought forward the likelytiming of a first Fed move after Friday’s dramatic November payrolls report, to the third quarter of 2010.But KennethVolpert, head of the taxable bond group at giant fund manager Vanguard Group, said the Fed could be on hold for allof 2010.
“We see fairly weak real final demand, which we think is going to lead to a jobless recovery for a prolonged period,”he said, adding that real jobs growth could be five years in the making.Doll said that although the U.S. was the bestpick for investors among the developed world, the higher savings rate and the absence of the “debt noose” madeemerging markets a more favorable investment story for now.”Thank goodness we’ve got the developing world.
Because otherwise, Planet Earth wouldn’t be growing much at all,” he said.
Investment Choices Seen Tougher in 2010 was first posted on December 9, 2009 at 5:51 pm.
Sale of Petroleum Products Increases by 16 Percent
Sale of Petroleum Products Increases by 16 Percent, During the first five months of current fiscal year, sale of petroleum products reached to 84 lac ton with an increase of 16 percent.
According to data, from July to November, sale of furnace oil was increased by 16 percent and sale of petrol increased by 39 percent. Purchase of fuel for thermal power plants has been increased this year due to energy crisis. Petroleum products sale has been decreased by 13 percent on monthly bases while it has increased on annual bases.
Sale of Petroleum Products Increases by 16 Percent was first posted on December 9, 2009 at 8:14 pm.
KSE Index Crosses 8900 Points
KARACHI: Karachi stocks witnessed mixed trend on Wednesday as benchmark 100-Index gained 61 points to close at 8905 points.
The market volume stands at 79.700 million.
KSE Index Crosses 8900 Points was first posted on December 9, 2009 at 8:44 pm.
KSE Index Crosses 8900 Points
KARACHI: Karachi stocks witnessed mixed trend on Wednesday as benchmark 100-Index gained 61 points to close at 8905 points.
The market volume stands at 79.700 million.
KSE Index Crosses 8900 Points was first posted on December 9, 2009 at 8:44 pm.
