According to BKP Business > News
Asia stocks sink on China slow growth worries
Published: 16 Apr 2013 at 12.41Online news: News.
Global stocks are on the downhill.
Gold price has been dropping and dropping. According to BBK Business > News, published: 18 Apr 2013 at 00.00:
Local gold bullion tumbled 2,400 baht per baht weight (15.244 grammes) yesterday, the first day of trading after the Songkran holiday, as gold experts warned the downward trend could continue. They are bearish.
It looks like investors are holding on to their money. It looks a lot like recession. In recession, cash is the //////; nobody wants to let go off it. In the time like that it is better to be a cash cow than be a stocks bull.
On top of everything, the Chinese government's report on Monday that growth in the world's second-largest economy slowed to 7.7% in the first quarter from 7.9% in the final quarter of last year.
Cyprus has gone broke financially while European economy is still moribund. Germany's Bundesbank Chief Jens Weidmann stated that Europe's recovery could well take a decade
The bright spot is in USA where there are good signs:
The consumer price index declined a seasonally adjusted 0.2 percent in March and so it has been in the past 5 months except in the month of February. So the inflation in US is still tame.
Housing market rebounds. Housing starts for March topped 1 million for the first time since June of 2008.
Stocks are up. The Dow Jones industrial average gained more than 100 points or 0.8% on Tuesday. The S&P 500 and Nasdaq also added 0.8%.and Nasdaq also added 0.8%. The S&P 500 closed at the new record high on March 28, 2013.
So the Wall Street has not sneezed so far. The rest of the world might not have yet sneezed either. But, ladies and gentlemen, the gloomy signs of global recession are here! This warning is specifically offered to the Thai government which has been on irrational spending spree to the extent of having become the serious contributor of the baht shortage and its complication of the escalating valuation of the baht.
Baht sets another high as yen nosedives
According to BKP News on line published: 18 Apr 2013 at 00.00 Newspaper section: Business:
The baht hit a 16-year high on continuing capital inflows as Thailand, and the bond market in particular, is expected to remain a popular destination for investor borrowing cheap yen following the Bank of Japan's aggressive monetary policy easing.
The baht rose yesterday to 28.96/99 against the greenback, while the local currency also gained to 28.93/29.46 against 100 yen. The baht is the strongest currency in Asia against the dollar this year, rising 5.4%.
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