China big banks June lending hit by cash crunch

China's four largest banks issued 270 billion yuan of new loans in June, with a credit crunch forcing banks to reduce lending, the 21st Century Business Herald reported Thursday, citing unnamed sources. Banks slowed their pace of lending in the second half of June after a surge in lending in the first half and as a cash crunch curbed their ability to issue new loans, the report said. In the last week of June for example, the banks reduced lending by about CNY23 billion compared with the week earlier. The cash squeeze sent the benchmark interbank lending rate rising to its highest level in nearly two years in late June. The newspaper previously reported that the big banks issued CNY233 billion of new loans in the first three weeks of May. The amount of loans extended by the big four banks fell in April and May as China moved to stem a surge in credit to lower the risk of debt and financial failure. Loans issued by the four banks--Industrial & Commercial Bank of China Ltd., Bank of China Ltd., China Construction Bank Corp. and Agricultural Bank of China Ltd. -- typically account for 30% to 40% of the whole banking system's.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 12:08 PM

WTI Crude Trades Near One-Week High as Stockpiles Seen Falling

Bloomberg, (2/7) -- West Texas Intermediate traded near the highest level in more than a week on speculation U.S. crude stockpiles shrank for the first time in a month, signaling increased demand in the world’s largest oil consumer.

Futures were little changed in New York after rising 1.5 percent yesterday amid signs of U.S. economic growth and concern that unrest in Egypt may spread and disrupt Middle East oil supplies. Crude inventories probably fell by 2.63 million barrels last week, a Bloomberg News survey showed before a government report tomorrow. The American Petroleum Institute is scheduled to release separate supply data today.

WTI for August delivery was at $97.93 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 1:30 p.m. Sydney time. The volume of all futures traded was 54 percent below the 100-day average. The contract climbed $1.43 to $97.99 yesterday, the highest close since June 19.

Brent for August settlement rose 6 cents to $103.06 a barrel on the London-based ICE Futures Europe exchange. The European benchmark grade was at a premium of $5.12 to WTI. The spread was $5.01 yesterday, the narrowest closing gap since Jan. 4, 2011, after dropping below $5 in intraday trading.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 12:58 PM

Respon data manufaktur AS positif, saham Jepang lanjutkan gain

Bloomberg, (2/7) - Indeks Topix kembali memperpanjang reli tiga hari terbesarnya dalam hampir tiga bulan terakhir mengikuti laporan aktivitas manufaktur AS yang naik lebih dari ekspektasi dan yen diperdagangkan mendekati level terendah empat pekan. Indeks Topix naik 0,7 persen menjadi 1,159.71 pada 11:07 pagi di Tokyo, dengan volume 21 persen di bawah 30-hari rata-rata intraday. Indeks itu naik 7,6 persen selama tiga hari terakhir perdagangannya, terbesar sejak 8 April lalu. Sementara, Indeks Nikkei 225 Stock Average naik 0,7 persen menjadi 13,941.31. Indeks Topix telah turun 9,8 persen sejak tertinggi 22 Mei hingga kemarin namun masih naik 34 persen sejak awal tahun di tengah optimisme bahwa Jepang mungkin akan mengalahkan kondisi deflasi dan mencapai pertumbuhan yang berkelanjutan. Investor yang menggunakan uang pinjaman untuk memperdagangan saham-saham Jepang kini berada dalam kondisi yang paling bullish sejak tahun 2000 - memberikan isyarat bahwa harapan terhadap reli ekuitas akan terus berlanjut. Jumlah saham Jepang yang dibeli melalui rekening margin yang mendapat keuntungan ketika saham naik telah mengalahkan jumlah mereka yang mendapat laba selama penurunan sekitar 7 banding 1, tertinggi selama 13 tahun, berdasarkan data yang dikumpulkan oleh Bloomberg. Yen menyentuh 99,86 per dolar kemarin, terendah sejak 5 Juni. Mata uang Jepang tersebut diperdagangkan pada posisi 99,54 hari ini pukul 11:08 pagi di Tokyo. Pelemahan yen meningkatkan nilai pendapatan luar negeri dari perusahaan-perusahaan Jepang saat konversikan. Perusahaan dalam survei Tankan Bank of Jepang, yang dirilis kemarin memperkirakan bahwa yen akan berada di rata-rata 91,20 per dolar pada tahun fiskal yang berakhir Maret 2014 mendatang dibandingkan dengan proyeksi 85.22 dalam laporan sebelumnya. Indeks Topix akan meningkat menjadi 1.270 pada akhir tahun, menurut 18 analis yang disurvei oleh Bloomberg News. Ini pertama kalinya estimasi rata-rata telah diturunkan sejak reli ekuitas Jepang dimulai pada pertengahan November tahun lalu. (brc)

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 10:12 AM

Gold Climbs for Third Day to Extend Rebound From 34-Month Low

Bloomberg, (2/7) -- Gold extended a rebound from a 34-month low, gaining for a third day, on speculation that lower prices will raise demand even as holdings in the largest bullion-backed exchange-traded product resumed a decline. Spot bullion rose as much as 0.5 percent to $1,259.17 an ounce and was at $1,254.38 at 10:06 a.m. in Singapore. Prices fell to $1,180.50 on June 28, the lowest since August 2010, before rising 2.8 percent that day and 1.5 percent yesterday. Benchmark contract volumes on the Shanghai Gold Exchange in the past week were more than three times last year’s daily average. Gold plunged 23 percent in the second quarter as investors speculated that the U.S. Federal Reserve will scale back monetary stimulus. Newsletter writer Dennis Gartman said yesterday that he’s very bullish on gold after the slump as central banks continue to inject money. There’s “strong” physical demand with bullion below $1,600 an ounce, according to Standard Bank Plc’s SBG Securities (Pty) Ltd. unit. “Physical demand is out there but not on the scale we saw in April,” said Huang Fulong, an analyst at CITICS Futures Co. “The recent short-covering rally is expected to continue before the U.S. holiday and payrolls data later this week,” said Huang, referring to some investors ending bets on price declines. The volume for spot bullion of 99.99 percent purity on the Shanghai Gold Exchange climbed to 15,978 kilograms yesterday from 14,660 kilograms on June 28. While volumes are elevated, China’s appetite to buy gold is much more muted compared with April, according to Barclays Plc. They reached a record 43,272 kilograms on April 22, according to exchange data. Physical demand jumped in April as Shanghai prices lost 7.4 percent. Assets in the SPDR Gold Trust, the largest bullion-backed ETP, fell to 968.3 metric tons yesterday, the least since February 2009, after holding steady for three days. Fed Chairman Ben S. Bernanke said last month that the central bank may slow its bond-buying program this year should the economy continue to improve. Government data on July 5 is forecast to indicate U.S. employers continued to add jobs last month. U.S. markets are closed on July 4 for Independence Day. Gold for August delivery traded little changed at $1,256.10 an ounce on the Comex in New York. Holders of short contracts climbed 5 percent to 77,027 futures and options by June 25, the second-highest on record, U.S. Commodity Futures Trading Commission data show. Money managers reduced their net-long position by 20 percent to the lowest since June 2007.

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 10:09 AM

Asian Stocks Decline With Oil as China Output Slows; Yen Weakens

Bloomberg, (1/7) -- Asian stocks and oil fell after Chinese manufacturing expanded at the slowest pace in four months. The yen weakened against its 16 major trading partners after posting the worst first half since 1982 as government policies drove down the currency and manufacturers turned optimistic for the first time since September./

The MSCI Asia Pacific Index dropped 0.3 percent to 130.09, led lower by Australian banks and South Korean industrial firms. Oil slid for a second day and gold swung between gains and losses after the worst quarter since at least 1920. The yen fell 0.1 percent to 99.28 per dollar as of 11:52 a.m. in Tokyo. Standard & Poor’s 500 Index futures slipped 0.2 percent after the gauge lost 1.5 percent in June.

China’s Purchasing Managers’ Index fell to 50.1 from 50.8 in May, according to statistics released in Beijing, as a cash squeeze reduced credit and President Xi Jinping said officials shouldn’t be judged only on their record in boosting the economy. The Bank of Japan’s Tankan report signaled the nation’s manufacturers turned optimistic for the first time since September 2011, showing confidence in Prime Minister Shinzo Abe’s reflationary policies. U.S. data due today is expected to show factories rebounded last month.

“China’s PMI reading is on expectations but obviously not a great number because it signals growth will grind lower,” said Sacha Tihanyi, a currency strategist at Scotiabank in Hong Kong. “Better PMI data due later in the U.S. could hurt Asia as it will add more ammunition to the theme of the Fed tapering asset purchases.”

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 11:44 AM

Hong Kong Stocks Fail to Lure JPMorgan With Worst Developed Drop

Bloomberg, (28/6) - Hong Kong stocks are set for the biggest decline among developed markets this half as concern about China’s economy drives valuations 22 percent below the five-year average.

The Hang Seng Index tumbled 9.8 percent in 2013, trailing the Standard & Poor’s 500 Index by the most in 15 years and wiping more than $145 billion from the value of shares. The losses dragged the gauge’s valuation to 9.7 times estimates earnings, compared with a five-year average of 12.5, according to data compiled by Bloomberg.

JPMorgan Asset Management and Goldman Sachs Group Inc. say Hong Kong stocks may get even cheaper as a manufacturing slowdown in China collides with the worst cash shortage in a decade. The waning outlook for the world’s second-biggest economy is exacerbating declines spurred by the U.S. Federal Reserve’s plan to dial back unprecedented stimulus measures.

http://www.bloomberg.com/news/2013-06-27/hong-kong-stocks-fail-to-lure-jpmorgan-with-worst-developed-drop.html

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 1:50 PM

Harga minyak beranjak ke bawah US$ 97 per barel

NEW YORK. Harga minyak mentah di bursa berjangka Amerika Serikat (A) beranjak menuju ke bawah harga US$ 97 per barel, pada hari Jumat ini (27/6). Harga minyak turun akibat penguatan nilai tukar dolar AS.

Untuk pengiriman bulan Agustus, harga minyak mentah AS turun 44 sen menjadi US$ 96,61 per barel. Untuk minggu ini, kontrak harga minyak masih naik sekitar 3%, kenaikan ketiga dalam empat minggu terakhir.

Sementara itu, harga minyak mentah Brent turun 34 sen menjadi US$ 102,48 per barel. Meskipun turun, harga minyak Brent naik untuk yang ketiga ketiga dalam empat pekan.

Menurut Reuters, penurunan harga minyak sebagian besar didorong oleh kekhawatiran atas rencana pembatasan stimulus AS serta adanya perlambatan ekonomi di China.


source: http://investasi.kontan.co.id/news/harga-minyak-beranjak-ke-bawah-us-97-per-barel

Written by: Kontak Perkasa Futures

PT.Kontak Perkasa Futures, Updated at: 8:47 AM