MJ Chong
voted
Columns The dollar and Asian stocks declined after Biden announced his withdrawal from the election (1)
The US dollar and Asian stock markets declined. Biden previously announced his withdrawal from the 2024 US presidential election and supported He Jinli to take over the fight.
Bloomberg US Dollar Spot Index $USD(USDindex.FX$The Mexican peso climbed as it fell 0.2% on Monday.
In the face of continuous pressure from within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November general election. The Japanese and South Korean stock markets opened lower, and the Australian stock market also weakened. Hong Kong stock index futures remained stable.
$Korea Composite Index(.KOSPI.KR$
$Nikkei 225(.N225.JP$
$S&P/ASX 200(.XJO.AU$
$Hang Seng Index(800000.HK$
The question facing investors is whether it is still necessary to stick to the Trump deal since Biden has given up his re-election campaign.
The market is likely to fluctuate greatly. Traders are waiting to see if He Jinli can be nominated by the party, and at the same time weigh whether she can gather enough momentum to challenge Trump's current leading position in the polls.
“People's subconscious reaction is that this is bad for the dollar, but it's still too early to draw conclusions,” said Olga Yangor, head of emerging market research and strategy at Crédit Agricole.
“This will largely depend on He Jinli's initial appearance, her choice of running partner, and swing state polls.”
On the commodities side, crude oil and gold prices rose in early trading.
Biden withdrew from the market...
Bloomberg US Dollar Spot Index $USD(USDindex.FX$The Mexican peso climbed as it fell 0.2% on Monday.
In the face of continuous pressure from within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November general election. The Japanese and South Korean stock markets opened lower, and the Australian stock market also weakened. Hong Kong stock index futures remained stable.
$Korea Composite Index(.KOSPI.KR$
$Nikkei 225(.N225.JP$
$S&P/ASX 200(.XJO.AU$
$Hang Seng Index(800000.HK$
The question facing investors is whether it is still necessary to stick to the Trump deal since Biden has given up his re-election campaign.
The market is likely to fluctuate greatly. Traders are waiting to see if He Jinli can be nominated by the party, and at the same time weigh whether she can gather enough momentum to challenge Trump's current leading position in the polls.
“People's subconscious reaction is that this is bad for the dollar, but it's still too early to draw conclusions,” said Olga Yangor, head of emerging market research and strategy at Crédit Agricole.
“This will largely depend on He Jinli's initial appearance, her choice of running partner, and swing state polls.”
On the commodities side, crude oil and gold prices rose in early trading.
Biden withdrew from the market...
Translated
![The dollar and Asian stocks declined after Biden announced his withdrawal from the election (1)](https://sgsnsimg.moomoo.com/sns_client_feed/103267505/20240722/1721619695527-b1c11370f2.jpeg/thumb?area=104&is_public=true)
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MJ Chong
liked
$IFCAMSC(0023.MY$
Still within the support area. Hope will rebound soon.
The Director was selling his 8 miilom stock on 15 July. But, before that he bought it.
Unless it drop further below 0.75-0.70.
Still within the support area. Hope will rebound soon.
The Director was selling his 8 miilom stock on 15 July. But, before that he bought it.
Unless it drop further below 0.75-0.70.
![Picture](https://sgsnsimg.moomoo.com/sns_client_feed/104491672/20240719/1721350633692-random461-104491672-android-compress.jpg/thumb?area=104&is_public=true)
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$IFCAMSC(0023.MY$
From the perspective of making money, if you look back at 2014/5 in the GST era, the annual net profit was around RM20million, EPS Rm0.034, and PE 50 (highest) Rm1.70.
So now with E-invoicing, I've seen no significant increase in sales over the past few years.
So let's say we go back to the same situation in 2014/5. Conservatively presets PE 35 and EPS Rm 0.034 can almost all go to Rm 1.20.
The stock price is now Rm 0.78, and there is still some room until Rm 1, let alone Rm 1.20.
So I personally think that the stock price will continue to rebound due to optimism.
#IFCA #E -Invoicing
From the perspective of making money, if you look back at 2014/5 in the GST era, the annual net profit was around RM20million, EPS Rm0.034, and PE 50 (highest) Rm1.70.
So now with E-invoicing, I've seen no significant increase in sales over the past few years.
So let's say we go back to the same situation in 2014/5. Conservatively presets PE 35 and EPS Rm 0.034 can almost all go to Rm 1.20.
The stock price is now Rm 0.78, and there is still some room until Rm 1, let alone Rm 1.20.
So I personally think that the stock price will continue to rebound due to optimism.
#IFCA #E -Invoicing
Translated
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MJ Chong
commented on
$IFCAMSC(0023.MY$ super discount✅
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MJ Chong
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$Tesla(TSLA.US$
a bit disappointed with robotaxi date change. knee jerk reaction. sold and earnt my annual salary
a bit disappointed with robotaxi date change. knee jerk reaction. sold and earnt my annual salary
![Picture](https://sgsnsimg.moomoo.com/sns_client_feed/103989091/20240713/426597a5047f1a9c6f80de5ba1a5deab.jpg/thumb?area=101&is_public=true)
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MJ Chong
liked
Kucingko operates in a niche sector with potential growth opportunities, especially if it's poised to become the first animation production company listed on the Malaysian stock market
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