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May 7, 2011

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Filed under: Uncategorized — bigcapital @ 5:39 pm

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China To Allow Next QFII Investment To Trade Stock Index Futures

Filed under: Uncategorized — bigcapital @ 5:37 pm
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China To Allow Next QFII Investment To Trade Stock Index Futures

MarketCall.net — May 07, 2011

BEIJING, — China’s securities watchdog has published draft rules that will allow approved foreign investors to trade stock index futures, the first step in opening up its local securities market.

But the Qualified Foreign Institutional Investors (QFII) will only be allowed to trade stock index futures for hedging purposes, and it will be counted as part of their existing investment quotas, according to the proposed rules published by the China Securities Regulatory Commission (CSRC) late on Friday.

China officially launched the QFII system in 2003, and Beijing had granted investment quotas worth $19.7 billion in total to 97 foreign institutions by the end of 2010 — only a tiny proportion of China’s 20 trillion yuan stock market.

CSRC has also decided to allow domestic securities brokerage firms to buy more products with their own money, a move towards deregulation that could potentially boost incomes of local securities firms.

Source : http://www.marketcall.net/

UPDATE 1-JP Morgan raises 2011 oil price forecasts

Filed under: Uncategorized — bigcapital @ 5:37 pm
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UPDATE 1-JP Morgan raises 2011 oil price forecasts

MarketCall.net — May 07, 2011

J.P. Morgan raised oil price forecasts for the rest of 2011 and 2012, a day after prices plunged an unprecedented $12 a barrel, as the bank expects tight supplies to offset economic headwinds.

The bank raised its Brent forecast for the third quarter to $130 a barrel from $108, for the fourth quarter to $120 a barrel from $108 and overall 2011 forecast to $120 a barrel from $110.

J.P. Morgan expects WTI to average $109.5 per barrel in 2011, up from its previous forecast of $99. It projects Brent averaging $120 a barrel and WTI averaging $114 a barrel in 2012.

The bank said its current supply and demand projections show a supply shortfall of 600,000 barrels per day (kbd) in the third quarter, even assuming that OPEC increases output by 1.2 million barrels per day (mbd) in the coming months.

Although the deficit could narrow to just 300 kbd by the fourth quarter, that narrowing would depend heavily on additional output increases by Saudi Arabia to 9.5 mbd, Angola to 1.7 mbd, and Iraq to 3.0 mbd by the end of the year, the bank said

Source : http://www.marketcall.net/

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