Jakarta - PT Bank Tabungan Negara (BTN) sampai saat ini masih terus mengucurkan kreditnya terutama KPR (Kredit Kepemilikan Rumah) yang menjadi bisnis utamanya. Namun BTN mulai selektif memberikan kredit ke masyarakat.
Direktur Utama BTN Iqbal Latanro mengatakan BTN masih terus memberikan kreditnya kepada masyarakat, namun selektif.
"Karena kalau tidak (selektif), maka pada tingkat (bunga) seperti ini akan menimbulkan permasalahan atau NPL, karena itu kita perlambat," jelasnya saat dihubungi detikFinance di Jakarta, Rabu (19/11/2008).
Iqbal mengatakan saat ini pertumbuhan kredit BTN sudah tinggi yaitu mencapai 36%. "Tingkat ini merupakan pencapaian yang sangat baik, saat ini kita harus kendalikan tingkat kredit tersebut, kalau tidak bisa muncul masalah," katanya.
Kemudian alasan kedua BTN menahan laju pertumbuhan kreditnya adalah karena belum adanya kepastian mengenai situasi ekonomi ke depan di tengah situasi krisis yang terjadi.
"Ketiga, karena saat ini bunga sudah tinggi, maka banyak orang yang sudah tidak mau ambil kredit," imbuhnya.
Walaupun begitu, Iqbal mengatakan saat ini masih ada nasabah yang mengajukan KPR ke BTN, dan kredit sebenarnya masih bisa bertambah karena permintaan masih cukup besar.
"Tapi kita harus selektif agar tidak ada masalah," pungkasnya.
Sebelumnya Ketua Kadin MS Hidayat di sela-sela mengikuti kunjungan bilateral Presiden SBY dengan Presiden Brazil Luiz Inacio Lula Da Silva di Istana Presiden Palacio Planalto, Brasilia, Selasa (18/11/2008) seperti dilaporkan reporter detikcom, Arifin Asydad mengatakan pengucuran KPR dihentikan sementara, karena nilai tukar rupiah terhadap dolar AS terus melemah.
"Saya mendapat kabar bahwa kredit KPR semua dihentikan, karena ada kesulitan mendapatkan likuiditas di perbankan, sehingga menentukan tingkat suku bunga. Anda tahu deposito sekarang ditawarkan 15% dan lending rate sudah di atas 20%," kata Hidayat.
sumber : http://www.detikfinance.com/read/2008/11/19/165550/1039748/5/btn-pilih-pilih-nasabah-untuk-kpr
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Rabu, 19 November 2008
Imbauan BI untuk Melepas Dolar Kontraproduktif
karta - Imbauan Bank Indonesia agar masyarakat segera melepas dolarnya merupakan sinyal yang buruk dan kontraproduktif. Karena siang ini para pemilik modal justru meningkatkan perburuan dolar.
Mereka berjaga-jaga untuk kemungkinan terburuk dari nilai rupiah dan sistem penjaminan yang tidak penuh atau blanket guarantee.
"Tidak seharusnya BI selaku bank sentral melontarkan hal itu. Toh sudah menjadi pengetahuan bersama bahwa pasar uang lokal maupun mancanegara sedang alami kekeringan likuiditas valas, utamanya dolar," kata Ketua Komite Tetap Fiskal dan Moneter Kadin Bambang Soesatyo, Rabu (19/11/2008).
Bambang mengatakan bisa dipahami maksud imbauan Gubernur BI itu sebagai kerjasama saling menguntungkan. Namun imbauan itu dinilai dikeluarkan pada waktu yang tidak tepat.
"Menguntungkan bagi publik pemilik dolar AS, juga menguntungkan bagi BI karena bisa menambah volume dolar AS di pasar uang. Namun disampaikan pada waktu yang tidak tepat," ujarnya.
Lebih dari itu, diteruskan Bambang, imbauan Gubernur BI Boediono boleh ditafsirkan bahwa pada posisi kurs rupiah-dolar AS sekarang ini yakni Rp 11.000 -12.000 per dolar AS sebagai titik keseimbangannya dalam periode krisis finansial saat ini.
"Artinya, sekarang saatnya bagi publik pemilik dolar AS melakukan profit-taking, karena proses pelemahan rupiah sudah mencapai limitnya. Namun fakta yang ada justru menjelaskan kepada kita pesan yang sampai pada masyarakat bahwa BI mulai panik karena kekeringan valas," pungkasnya.
Mereka berjaga-jaga untuk kemungkinan terburuk dari nilai rupiah dan sistem penjaminan yang tidak penuh atau blanket guarantee.
"Tidak seharusnya BI selaku bank sentral melontarkan hal itu. Toh sudah menjadi pengetahuan bersama bahwa pasar uang lokal maupun mancanegara sedang alami kekeringan likuiditas valas, utamanya dolar," kata Ketua Komite Tetap Fiskal dan Moneter Kadin Bambang Soesatyo, Rabu (19/11/2008).
Bambang mengatakan bisa dipahami maksud imbauan Gubernur BI itu sebagai kerjasama saling menguntungkan. Namun imbauan itu dinilai dikeluarkan pada waktu yang tidak tepat.
"Menguntungkan bagi publik pemilik dolar AS, juga menguntungkan bagi BI karena bisa menambah volume dolar AS di pasar uang. Namun disampaikan pada waktu yang tidak tepat," ujarnya.
Lebih dari itu, diteruskan Bambang, imbauan Gubernur BI Boediono boleh ditafsirkan bahwa pada posisi kurs rupiah-dolar AS sekarang ini yakni Rp 11.000 -12.000 per dolar AS sebagai titik keseimbangannya dalam periode krisis finansial saat ini.
"Artinya, sekarang saatnya bagi publik pemilik dolar AS melakukan profit-taking, karena proses pelemahan rupiah sudah mencapai limitnya. Namun fakta yang ada justru menjelaskan kepada kita pesan yang sampai pada masyarakat bahwa BI mulai panik karena kekeringan valas," pungkasnya.
Rupiah Melemah ke 12.190/US$
Jakarta - Di tengah transaksi valas yang minim, rupiah kembali harus mengalami pelemahan hingga ke 12.000-an per dolar AS. Pemegang dolar belum percaya diri untuk melakukan perdagangan (trading).
Pada penutupan perdagangan valas pukul 17.00 WIB, Rabu (19/11/2008) rupiah melemah hingga 445 poin ke posisi 12.190 per dolar AS.
Menkeu sekaligus Menko Perekonomian Sri Mulyani di Kantor Departemen Keuangan, Jakarta, Rabu (19/11/2008) mengatakan apresiasi dolar AS terhadap berbagai mata uang lokal negara lain termasuk rupiah dinilai ini bukan karena kurangnya pasokan dolar di pasaran, melainkan karena minimnya transaksi.
"Persoalannya bukan pada stok yang kurang. Tapi karena orang tidak mau trading, karena tidak ada confidence," ujarnya.
Untuk itu, dalam pertemuan Menteri-Menteri Keuangan di Washington, AS pekan lalu disepakati bahwa hal terpenting yang harus segera dilakukan adalah mengembalikan kepercayaan masyarakat agar mau kembali melakukan perdagangan.
"Pertama yang dilakukan adalah mengembalikan confidence supaya transaksi jalan. Kalau tidak, semua yang pegang dolar akan hold. Disuplai berapa pun nggak akan cukup, orang nggak mau exchange," katanya.
Untuk itu, pemerintah meminta agar masyarakat termasuk rumah tangga yang tidak memerlukan pegangan dalam bentuk dolar agar melepas dolar yang mereka miliki.
"Untuk masyarakat rumah tangga yang tidak butuh pegang dolar, harusnya tidak pegang dolar. Tapi kecuali dia punya anak yang kuliah di luar negeri," katanya.
Meski masalah utama apresiasi dolar yang tak terbendung ini bukan pada jumlah pasokannya, Bank Sentral AS tetap akan memastikan agar pasokan dolar AS di seluruh dunia tetap tercukupi.
Menkeu juga mengatakan meski nilai rupiah terus melorot hingga 12.000/US$, pemerintah melihat pelemahan ini masih dalam border yang cukup aman. Meski begitu, para pelaku usaha dan masyarakat tetap harus melakukan penyesuai dalam aktivitasnya.
"Kita masih dalam border yang cukup aman. Meskipun berarti pelaku usaha termasuk masyarakat umum, masih harus melakukan penyesuaian terhadap tingkat equilibrium sementara ini," katanya.
Sri Mulyani melihat pelemahan rupiah kali ini tidak seburuk apa yang terjadi dengan mata uang negara lain. Ia mencontohkan Australia, Singapura, Thailand dan India yang koreksi nilai mata uangnya mencapai 30-40%
Pada penutupan perdagangan valas pukul 17.00 WIB, Rabu (19/11/2008) rupiah melemah hingga 445 poin ke posisi 12.190 per dolar AS.
Menkeu sekaligus Menko Perekonomian Sri Mulyani di Kantor Departemen Keuangan, Jakarta, Rabu (19/11/2008) mengatakan apresiasi dolar AS terhadap berbagai mata uang lokal negara lain termasuk rupiah dinilai ini bukan karena kurangnya pasokan dolar di pasaran, melainkan karena minimnya transaksi.
"Persoalannya bukan pada stok yang kurang. Tapi karena orang tidak mau trading, karena tidak ada confidence," ujarnya.
Untuk itu, dalam pertemuan Menteri-Menteri Keuangan di Washington, AS pekan lalu disepakati bahwa hal terpenting yang harus segera dilakukan adalah mengembalikan kepercayaan masyarakat agar mau kembali melakukan perdagangan.
"Pertama yang dilakukan adalah mengembalikan confidence supaya transaksi jalan. Kalau tidak, semua yang pegang dolar akan hold. Disuplai berapa pun nggak akan cukup, orang nggak mau exchange," katanya.
Untuk itu, pemerintah meminta agar masyarakat termasuk rumah tangga yang tidak memerlukan pegangan dalam bentuk dolar agar melepas dolar yang mereka miliki.
"Untuk masyarakat rumah tangga yang tidak butuh pegang dolar, harusnya tidak pegang dolar. Tapi kecuali dia punya anak yang kuliah di luar negeri," katanya.
Meski masalah utama apresiasi dolar yang tak terbendung ini bukan pada jumlah pasokannya, Bank Sentral AS tetap akan memastikan agar pasokan dolar AS di seluruh dunia tetap tercukupi.
Menkeu juga mengatakan meski nilai rupiah terus melorot hingga 12.000/US$, pemerintah melihat pelemahan ini masih dalam border yang cukup aman. Meski begitu, para pelaku usaha dan masyarakat tetap harus melakukan penyesuai dalam aktivitasnya.
"Kita masih dalam border yang cukup aman. Meskipun berarti pelaku usaha termasuk masyarakat umum, masih harus melakukan penyesuaian terhadap tingkat equilibrium sementara ini," katanya.
Sri Mulyani melihat pelemahan rupiah kali ini tidak seburuk apa yang terjadi dengan mata uang negara lain. Ia mencontohkan Australia, Singapura, Thailand dan India yang koreksi nilai mata uangnya mencapai 30-40%
BNI Pertahankan Porsi KPR dan Kredit Kendaraan
Jakarta - PT Bank Negara Indonesia Tbk (BNI) tetap melakukan pengawasan ketat terhadap penyaluran kredit pemilikan rumah (KPR). Bahkan BNI akan tetap mempertahankan porsi KPR dan kredit kednaraannya pada tahun depan.
Pada tahun 2008 ini total portofolio kredit BNI mencapai Rp 110 triliun, dimana 14% diataranya untuk KPR dan kredit kendaraan.
Hal ini disampaikan oleh Direktur Bank BNI Achmad Baiquni saat di temui di Hotel Dharmawangsa Rabu (19/11/2008).
"Kalau sekarang consumer itu hampir 13% sampai 14% termasuk KPR dan car loan, tahun depan kita akan tetap menjaga dengan komposisi seperti ini," katanya.
Ia menegaskan bahwa BNI akan tetap selektif terhadap penyaluran kredit konsumer dan akan tetap menyaluran kredit KPR, meski harus melihat prospek setiap proyek atau debitor.
"Kalau proyeknya bagus kenapa nggak, bank itu nggak pernah berhenti. Jadi selektif saja, kesannya selama ini digenarilisir bahwa bank menghentikan, karena yang kita lihat proyeknya, kalau proyeknya bagus ya kita tetap saja," ujarnya.
Menurutnya sekarang ini kredit-kredit sektor properti termasuk KPR sangat tergantung dengan lokasi pengembangan suatu kawasan, apabila lokasinya belum padat akan menjadi pertimbangan utama perbankan.
"Ada daerah yang jenuh, ada yang belum jenuh kita masuk juga. Intinya kondisi seperti ini kita mempertajam dengan lebih berhati-hati," tandasnya.
Pada tahun 2008 ini total portofolio kredit BNI mencapai Rp 110 triliun, dimana 14% diataranya untuk KPR dan kredit kendaraan.
Hal ini disampaikan oleh Direktur Bank BNI Achmad Baiquni saat di temui di Hotel Dharmawangsa Rabu (19/11/2008).
"Kalau sekarang consumer itu hampir 13% sampai 14% termasuk KPR dan car loan, tahun depan kita akan tetap menjaga dengan komposisi seperti ini," katanya.
Ia menegaskan bahwa BNI akan tetap selektif terhadap penyaluran kredit konsumer dan akan tetap menyaluran kredit KPR, meski harus melihat prospek setiap proyek atau debitor.
"Kalau proyeknya bagus kenapa nggak, bank itu nggak pernah berhenti. Jadi selektif saja, kesannya selama ini digenarilisir bahwa bank menghentikan, karena yang kita lihat proyeknya, kalau proyeknya bagus ya kita tetap saja," ujarnya.
Menurutnya sekarang ini kredit-kredit sektor properti termasuk KPR sangat tergantung dengan lokasi pengembangan suatu kawasan, apabila lokasinya belum padat akan menjadi pertimbangan utama perbankan.
"Ada daerah yang jenuh, ada yang belum jenuh kita masuk juga. Intinya kondisi seperti ini kita mempertajam dengan lebih berhati-hati," tandasnya.
Consumer Prices Take Record Drop in October
U.S. consumer prices plummeted at the sharpest rate on record in October as a slowing economy caused energy costs to drop for a third straight month, according to a Labor Department report on Wednesday.
AP
The widely watched Consumer Price Index fell 1 percent, exceeding forecasts by Wall Street analysts for a 0.8 percent decline and the biggest drop since the department began monthly data in 1947. Core prices, which exclude food and energy items, declined 0.1 percent in contrast to the 0.1 percent advance that had been forecast.
The latest sign of rapidly declining prices, including for clothing and transportation as well as energy, implies a weakening economy no longer faces any inflation threat and could see deflation return if consumer demand keeps softening.
Energy prices dropped 8.6 percent in October, after declines of 3.1 percent in August and 1.9 percent in September.
October was the biggest drop since the department began keeping seasonally adjusted energy prices in 1957.
Gasoline prices plunged 14.2 percent in October, also a record drop. However, gasoline prices were still 12 percent above the price a year ago.
Food costs were up 0.3 percent in October, half the 0.6 percent rise posted in September.
On a year-over-year basis, the Consumer Price Index rose 3.7 percent, the smallest increase in a year.
Copyright 2008 Reuters.
AP
The widely watched Consumer Price Index fell 1 percent, exceeding forecasts by Wall Street analysts for a 0.8 percent decline and the biggest drop since the department began monthly data in 1947. Core prices, which exclude food and energy items, declined 0.1 percent in contrast to the 0.1 percent advance that had been forecast.
The latest sign of rapidly declining prices, including for clothing and transportation as well as energy, implies a weakening economy no longer faces any inflation threat and could see deflation return if consumer demand keeps softening.
Energy prices dropped 8.6 percent in October, after declines of 3.1 percent in August and 1.9 percent in September.
October was the biggest drop since the department began keeping seasonally adjusted energy prices in 1957.
Gasoline prices plunged 14.2 percent in October, also a record drop. However, gasoline prices were still 12 percent above the price a year ago.
Food costs were up 0.3 percent in October, half the 0.6 percent rise posted in September.
On a year-over-year basis, the Consumer Price Index rose 3.7 percent, the smallest increase in a year.
Copyright 2008 Reuters.
What the Pros Say: Gold Reaches Record Demand
Stocks spent another day in the red Wednesday as prospects of a deep global recession continued to rattle investors. CNBC's experts question why gold's price has declined while demand for the precious metal, and typically safe-haven stock, has increased.
Gold Reaches Record Demand
The World Gold Council reported record demand for gold in the third quarter. "There's been a recovery in demand, up 50% in terms of dollars," George Milling-Stanley, director at the World Gold Council, said.
"Gold's been acting like an insurance policy. Investors have been able to sell gold into a deep and liquid market in order to preserve their other investments. That's why we've not seen these very healthy demand figures translating into a stronger gold price yet," Milling-Stanley added.
Is Gold Losing its Luster?
"Gold is losing its luster," Daryl Guppy, CEO of gupptraders.com, told CNBC. Guppy adds that the support level for the precious metal is $700. If gold rebounds from that level, it will come across resistance at $780. Meanwhile, if it falls below $700, it could continue to decline to $620.
Once Deleveraging Abates, Gold Could Climb
Institutional selling of gold amid deleveraging of commodities to raise cash is offsetting the current retail demand for the precious metal, says Marcus Grubb, managing director, investment research and marketing at the World Gold Council.
There should be a stronger gold in the fourth quarter if the commodity deleveraging abates at the same time, Grubb said.
Auto Bailout Would Create 'Unfair Playing Field'
A US government bailout of General Motors will raise trade issues in the global automotive industry, and may create an "unfair playing field" for US companies, Mike Thompson from Standard & Poor's said. Eric Alain Michelis from Societe Generale commented on the implications of the bailout on carmakers in Europe.
Auto Bailout Negative for Dollar
The auto bailout will be negative for dollar sentiment, says Ray Attril, global head of research at Forecast.
WALL STREET IN CRISIS - A CNBC SPECIAL REPORT
But Positive for Commodities
If the auto bailout goes through, Jonathan Barratt, MD of Commodity Broking Services tells CNBC why this will be positive for the commodities market.
Markets Likely to Bottom Next Year
Markets are likely to bottom on lower volume and volatility in the first half of 2009, says Robert Howe, CEO of Geomatrix, speaking to CNBC.
Risky Times Ahead
As stocks may not fully reflect the impact of weak earnings until the first or second quarter of 2009, Stephen Davies, CEO of Javelin Wealth Mgmt tells CNBC investors should stay clear from the markets unless they are willing to take some risk.
Start Accumulating Selectively
As shares of many good companies have been beaten down, Donald Straszheim vice chairman at Roth Capital Partners believes it is a good time to accumulate quality stocks. But he tells CNBC why prefers to stay away from banks.
Convertible Bond Opportunities
Convertible bonds have been hard hit over the year, but are set to provide good investment opportunities, Skander Chabbi from DB Advisors told CNBC Wednesday.
Full Storm to Hit H1 2009
The full storm will hit in the first-half of 2009 when bigger economies such as India and China show significant slowdown in growth, observes Sailesh Jha, senior regional economist, Barclays Capital.
Global Recession Next Year
The pain for the real economy will come in the next several quarters, warns Selena Ling, head of treasury research & strategy at OCBC Bank.
SEA Commodities Firms Overvalued
Palm oil prices have bottomed out but stocks of companies like IOI and KLK are over-valued, observes Nirgunan Tiruchelvam, equities analyst of ABN Amro Securities, part of RBS.
Bonds Say No Armageddon
"Whatever Armageddon is priced in the stock market … the credit market is pricing something better," Riccardo Ronco from Friedman, Billings, Ramsey International told CNBC Wednesday.
Gold Reaches Record Demand
The World Gold Council reported record demand for gold in the third quarter. "There's been a recovery in demand, up 50% in terms of dollars," George Milling-Stanley, director at the World Gold Council, said.
"Gold's been acting like an insurance policy. Investors have been able to sell gold into a deep and liquid market in order to preserve their other investments. That's why we've not seen these very healthy demand figures translating into a stronger gold price yet," Milling-Stanley added.
Is Gold Losing its Luster?
"Gold is losing its luster," Daryl Guppy, CEO of gupptraders.com, told CNBC. Guppy adds that the support level for the precious metal is $700. If gold rebounds from that level, it will come across resistance at $780. Meanwhile, if it falls below $700, it could continue to decline to $620.
Once Deleveraging Abates, Gold Could Climb
Institutional selling of gold amid deleveraging of commodities to raise cash is offsetting the current retail demand for the precious metal, says Marcus Grubb, managing director, investment research and marketing at the World Gold Council.
There should be a stronger gold in the fourth quarter if the commodity deleveraging abates at the same time, Grubb said.
Auto Bailout Would Create 'Unfair Playing Field'
A US government bailout of General Motors will raise trade issues in the global automotive industry, and may create an "unfair playing field" for US companies, Mike Thompson from Standard & Poor's said. Eric Alain Michelis from Societe Generale commented on the implications of the bailout on carmakers in Europe.
Auto Bailout Negative for Dollar
The auto bailout will be negative for dollar sentiment, says Ray Attril, global head of research at Forecast.
WALL STREET IN CRISIS - A CNBC SPECIAL REPORT
But Positive for Commodities
If the auto bailout goes through, Jonathan Barratt, MD of Commodity Broking Services tells CNBC why this will be positive for the commodities market.
Markets Likely to Bottom Next Year
Markets are likely to bottom on lower volume and volatility in the first half of 2009, says Robert Howe, CEO of Geomatrix, speaking to CNBC.
Risky Times Ahead
As stocks may not fully reflect the impact of weak earnings until the first or second quarter of 2009, Stephen Davies, CEO of Javelin Wealth Mgmt tells CNBC investors should stay clear from the markets unless they are willing to take some risk.
Start Accumulating Selectively
As shares of many good companies have been beaten down, Donald Straszheim vice chairman at Roth Capital Partners believes it is a good time to accumulate quality stocks. But he tells CNBC why prefers to stay away from banks.
Convertible Bond Opportunities
Convertible bonds have been hard hit over the year, but are set to provide good investment opportunities, Skander Chabbi from DB Advisors told CNBC Wednesday.
Full Storm to Hit H1 2009
The full storm will hit in the first-half of 2009 when bigger economies such as India and China show significant slowdown in growth, observes Sailesh Jha, senior regional economist, Barclays Capital.
Global Recession Next Year
The pain for the real economy will come in the next several quarters, warns Selena Ling, head of treasury research & strategy at OCBC Bank.
SEA Commodities Firms Overvalued
Palm oil prices have bottomed out but stocks of companies like IOI and KLK are over-valued, observes Nirgunan Tiruchelvam, equities analyst of ABN Amro Securities, part of RBS.
Bonds Say No Armageddon
"Whatever Armageddon is priced in the stock market … the credit market is pricing something better," Riccardo Ronco from Friedman, Billings, Ramsey International told CNBC Wednesday.
Pemberitahuan
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Kami memberikan promosi gratis hanya sampai 31 Desember 2008.
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BofA Sees Record Credit Card Industry Losses
Bank of America Chief Executive Kenneth Lewis said on Tuesday that the U.S. economy will get worse before it improves, and forecast record losses for the U.S. credit card industry.
"We, as an industry, may end up with possibly the highest credit card losses the industry has ever experienced," Lewis said.
Bank of America
Nell Redmond / AP
Lewis said that in light of the ongoing financial crisis he saw a good chance of another half a percentage point rate cut at the next Federal Reserve meeting scheduled for Dec. 15-16.
Speaking to reporters, Lewis also said the largest U.S. bank will have 'fairly significant' job eliminations resulting from its takeover of Merrill Lynch [MER 11.40 -0.38 (-3.23%) ] in September.
Bank of America, which has worried some investors over the past year with big-ticket takeovers of Merrill and mortgage lender Countrywide Financial, is unlikely to make new acquisitions over the next few years as it absorbs the already-acquired companies, Lewis said.
Lewis spoke in Detroit, which bears the scars of many years of neglect in its housing stock, a blight that only worsened by the economic recession and deepening plight sweeping through the Big Three automakers.
Lewis spoke to reporters after delivering a speech to local business owners and students on the impact of the financial crisis on home ownership in the United States.
Over the last eight years, the state of Michigan has lost 300,000 manufacturing jobs, many of those in the declining U.S. auto industry.
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* Consumers Leave Credit Cards at Home
* Gift Card Sales Seen Down 6%
* US Consumers Hit by Credit Crunch
* GE Plans Finance Arm Cutbacks
The chief executives of General Motors [GM 3.09 -0.09 (-2.83%) ], Ford Motor [F 1.68 -0.04 (-2.33%) ] and Chrysler took their case for a $25 billion bailout to the U.S. Congress Tuesday. They said a financial rescue is imperative if the industry is to survive the escalating liquidity crisis.
Lewis said that he would support a bailout for the U.S. auto industry if Americans back it, but added that not all of Detroit's three automakers should survive.
"The first thing would be that they (the U.S. automakers) acknowledge that there is one too many auto companies and that consolidation needs to take place," Lewis said, adding any bailout package must be based on viability and sustainability to make them competitive with overseas rivals.
* Get Real-Time Quotes for Bank of America and the Rest of the Dow Stocks
Bank of America, the country's largest mortgage lender and one of the biggest credit card issuers, cut its dividend in half last month after rising credit losses contributed to a 68 percent decline in third-quarter profit.
The bank has already raised more than $22 billion in capital this year and is getting $25 billion from the $700 federal bailout program.
WALL STREET IN CRISIS - A CNBC SPECIAL REPORT
Asked whether the financial industry should slash bonuses and executive payouts in the wake of the bailout, Lewis said he opposed the use of golden parachutes that protect only those at the top even in the event of failure.
"Why would I, the highest paid individual in the whole corporation, have a safety net which my associates don't? That's inherently unfair," Lewis said.
Well over 100,000 jobs have been lost at the world's largest banks and brokerages since the global credit crisis began.
More From CNBC.com
* Market Pros: Short-Term Looks Awful — But We're Buying
* GE CEO Confident Business Can Weather Turmoil
* Economic Stimulus Plan Appears Unlikely This Year
Citigroup [C 8.36 -0.53 (-5.96%) ] revealed on Monday it is cutting 52,000 jobs by early next year as the No. 2 U.S. bank combats mounting debt losses and sagging economies worldwide.
Lewis said the U.S. economy is clearly in a recession and forecast no recovery until the housing market stabilizes around the middle of 2009.
"I think the economy will get worse before it gets better. I wouldn't be surprised if we see another half a percent rate cut at the next Fed meeting," he said.
The deepening recession has bolstered market expectations the Fed would cut benchmark U.S. interest rates by a half-percentage point to 0.5 percent next month.
The Fed has slashed interest rates 4.25 percentage points since September 2007 to 1 percent to counter the credit crisis and support the faltering economy.
In wide-ranging remarks about the economy, Lewis blamed the mortgage crisis on government subsidies and excessively low interest rates, saying the industry needs a 'realistic' view of the ability of customers to handle rising payments and rethink its view on short-term, low-interest 'teaer' rates.
Mortgage lenders should also retain a portion of originated loans on their own balance sheets and keep servicing responsibilities to the extent possible, he added.
Bank of America [BAC 15.19 0.16 (+1.06%) ] became the nation's largest mortgage lender and servicer when it paid $2.5 billion for Countrywide Financial in July.
Copyright 2008 Reuters.
"We, as an industry, may end up with possibly the highest credit card losses the industry has ever experienced," Lewis said.
Bank of America
Nell Redmond / AP
Lewis said that in light of the ongoing financial crisis he saw a good chance of another half a percentage point rate cut at the next Federal Reserve meeting scheduled for Dec. 15-16.
Speaking to reporters, Lewis also said the largest U.S. bank will have 'fairly significant' job eliminations resulting from its takeover of Merrill Lynch [MER 11.40 -0.38 (-3.23%) ] in September.
Bank of America, which has worried some investors over the past year with big-ticket takeovers of Merrill and mortgage lender Countrywide Financial, is unlikely to make new acquisitions over the next few years as it absorbs the already-acquired companies, Lewis said.
Lewis spoke in Detroit, which bears the scars of many years of neglect in its housing stock, a blight that only worsened by the economic recession and deepening plight sweeping through the Big Three automakers.
Lewis spoke to reporters after delivering a speech to local business owners and students on the impact of the financial crisis on home ownership in the United States.
Over the last eight years, the state of Michigan has lost 300,000 manufacturing jobs, many of those in the declining U.S. auto industry.
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Current DateTime: 02:26:05 18 Nov 2008
LinksList Documentid: 27791347
* Consumers Leave Credit Cards at Home
* Gift Card Sales Seen Down 6%
* US Consumers Hit by Credit Crunch
* GE Plans Finance Arm Cutbacks
The chief executives of General Motors [GM 3.09 -0.09 (-2.83%) ], Ford Motor [F 1.68 -0.04 (-2.33%) ] and Chrysler took their case for a $25 billion bailout to the U.S. Congress Tuesday. They said a financial rescue is imperative if the industry is to survive the escalating liquidity crisis.
Lewis said that he would support a bailout for the U.S. auto industry if Americans back it, but added that not all of Detroit's three automakers should survive.
"The first thing would be that they (the U.S. automakers) acknowledge that there is one too many auto companies and that consolidation needs to take place," Lewis said, adding any bailout package must be based on viability and sustainability to make them competitive with overseas rivals.
* Get Real-Time Quotes for Bank of America and the Rest of the Dow Stocks
Bank of America, the country's largest mortgage lender and one of the biggest credit card issuers, cut its dividend in half last month after rising credit losses contributed to a 68 percent decline in third-quarter profit.
The bank has already raised more than $22 billion in capital this year and is getting $25 billion from the $700 federal bailout program.
WALL STREET IN CRISIS - A CNBC SPECIAL REPORT
Asked whether the financial industry should slash bonuses and executive payouts in the wake of the bailout, Lewis said he opposed the use of golden parachutes that protect only those at the top even in the event of failure.
"Why would I, the highest paid individual in the whole corporation, have a safety net which my associates don't? That's inherently unfair," Lewis said.
Well over 100,000 jobs have been lost at the world's largest banks and brokerages since the global credit crisis began.
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* Market Pros: Short-Term Looks Awful — But We're Buying
* GE CEO Confident Business Can Weather Turmoil
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Citigroup [C 8.36 -0.53 (-5.96%) ] revealed on Monday it is cutting 52,000 jobs by early next year as the No. 2 U.S. bank combats mounting debt losses and sagging economies worldwide.
Lewis said the U.S. economy is clearly in a recession and forecast no recovery until the housing market stabilizes around the middle of 2009.
"I think the economy will get worse before it gets better. I wouldn't be surprised if we see another half a percent rate cut at the next Fed meeting," he said.
The deepening recession has bolstered market expectations the Fed would cut benchmark U.S. interest rates by a half-percentage point to 0.5 percent next month.
The Fed has slashed interest rates 4.25 percentage points since September 2007 to 1 percent to counter the credit crisis and support the faltering economy.
In wide-ranging remarks about the economy, Lewis blamed the mortgage crisis on government subsidies and excessively low interest rates, saying the industry needs a 'realistic' view of the ability of customers to handle rising payments and rethink its view on short-term, low-interest 'teaer' rates.
Mortgage lenders should also retain a portion of originated loans on their own balance sheets and keep servicing responsibilities to the extent possible, he added.
Bank of America [BAC 15.19 0.16 (+1.06%) ] became the nation's largest mortgage lender and servicer when it paid $2.5 billion for Countrywide Financial in July.
Copyright 2008 Reuters.
SMFG to Raise Capital, Mizuho Eyes Ties with BofA in Asia
Mizuho Financial Group | Sumitomo Mitsui Financial Group, Inc.
Reuters | 19 Nov 2008 | 12:51 AM ET
Sumitomo Mitsui Financial Group aims to raise about 400 billion yen (US$4.12 billion) in preferred securities, a newspaper said, becoming the latest Japanese bank to bolster its capital amid the financial crisis.
Katsumi Kasahara / AP
Once thought to be relatively unharmed by the global credit crisis, Japanese banks are now scrambling to raise cash, as an economy in recession and over-exposure to plunging domestic stocks sap their capital.
SMFG, Japan's third-largest bank, will issue the funds to finance the redemption of outstanding preferred securities and also beef up a capital base being sliced into by a rise in bad loans, the Yomiuri newspaper reported on Wednesday.
The bank, which said last week that it had no plans to follow its rivals in raising capital, could announce the funding plan as early as Wednesday. SMFG responded to the Yomiuri report with a statement saying it had not made a decision to raise capital.
Shares in SMFG were down 5.9 percent at 321,000 yen as of the midday break, underperforming a 4.1 percent fall in Tokyo's banking subindex.
The country's two largest banks, Mitsubishi UFJ Financial Group and Mizuho Financial Group, have announced plans to raise up to about $13 billion between them to shore up their balance sheets.
Japan's banks have also been hurt by the tumble in Japanese stocks because they hold big stakes in their business corporate clients as a means to cement ties.
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Last week SMFG posted a 51 percent fall in quarterly profit, hit by a rise in bad loans as Japan's economy slipped into recession.
Mizuho could boost ties with BofA in Asia
Mizuho Financial, Japan's second-largest bank, could strengthen cooperation with Bank of America [BAC 15.19 0.16 (+1.06%) ] in Asia, although it is not considering a capital tie-up now, the vice-president of Mizuho's corporate lending arm said on Wednesday.
The bank is also seeing a sharp increase in business with global, non-Japanese firms such as Volvo, as the credit crisis has waylaid many overseas banks, Yasuhiro Sato, deputy president of Mizuho Corporate Bank, told Reuters in an interview.
Mizuho injected $1.2 billion in U.S. investment bank Merrill Lynch [MER 11.40 -0.38 (-3.23%) ] in January. Hit hard by subprime losses, Merrill is now due to be taken over by Bank of America later this year.
Given the Merrill investment and a previous relationship with Bank of America, Sato said the two banks could work together in Asia, where Bank of America has little presence, in areas such as asset management.
Copyright 2008 Reuters.
Reuters | 19 Nov 2008 | 12:51 AM ET
Sumitomo Mitsui Financial Group aims to raise about 400 billion yen (US$4.12 billion) in preferred securities, a newspaper said, becoming the latest Japanese bank to bolster its capital amid the financial crisis.
Katsumi Kasahara / AP
Once thought to be relatively unharmed by the global credit crisis, Japanese banks are now scrambling to raise cash, as an economy in recession and over-exposure to plunging domestic stocks sap their capital.
SMFG, Japan's third-largest bank, will issue the funds to finance the redemption of outstanding preferred securities and also beef up a capital base being sliced into by a rise in bad loans, the Yomiuri newspaper reported on Wednesday.
The bank, which said last week that it had no plans to follow its rivals in raising capital, could announce the funding plan as early as Wednesday. SMFG responded to the Yomiuri report with a statement saying it had not made a decision to raise capital.
Shares in SMFG were down 5.9 percent at 321,000 yen as of the midday break, underperforming a 4.1 percent fall in Tokyo's banking subindex.
The country's two largest banks, Mitsubishi UFJ Financial Group and Mizuho Financial Group, have announced plans to raise up to about $13 billion between them to shore up their balance sheets.
Japan's banks have also been hurt by the tumble in Japanese stocks because they hold big stakes in their business corporate clients as a means to cement ties.
More From CNBC.com
* China Seeks to Curb Unrest Amid Global Finance Crisis
* Holes In TARP Hurting Market Confidence
* Wall Street Firms Pressured to Forego 2008 Bonuses
* Slideshow: Biggest Budget Items in US History vs. TARP
* More Asia Pacific News
Last week SMFG posted a 51 percent fall in quarterly profit, hit by a rise in bad loans as Japan's economy slipped into recession.
Mizuho could boost ties with BofA in Asia
Mizuho Financial, Japan's second-largest bank, could strengthen cooperation with Bank of America [BAC 15.19 0.16 (+1.06%) ] in Asia, although it is not considering a capital tie-up now, the vice-president of Mizuho's corporate lending arm said on Wednesday.
The bank is also seeing a sharp increase in business with global, non-Japanese firms such as Volvo, as the credit crisis has waylaid many overseas banks, Yasuhiro Sato, deputy president of Mizuho Corporate Bank, told Reuters in an interview.
Mizuho injected $1.2 billion in U.S. investment bank Merrill Lynch [MER 11.40 -0.38 (-3.23%) ] in January. Hit hard by subprime losses, Merrill is now due to be taken over by Bank of America later this year.
Given the Merrill investment and a previous relationship with Bank of America, Sato said the two banks could work together in Asia, where Bank of America has little presence, in areas such as asset management.
Copyright 2008 Reuters.
China's Auto Industry Presses Beijing for Bailout
Do Chinese automakers need a bailout?
China’s auto industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives said in interviews with the New York Times.
Caddy display
This autumn, after six years of 20 percent or more annual growth, vehicle sales were flat or slightly negative, a shock to an industry that has borrowed heavily to build ever more factories for a market that had once seemed insatiable.
Citing the $25 billion in loans that Congress has already approved to help American automakers increase green research, and the additional $25 billion in loans the American industry is seeking this week to cope with a hobbled economy, Chinese executives are now telling the government here that they also need emergency measures. They are seeking lower taxes on new cars, lower fuel prices and increased grants for research into hybrid cars and new technology.
“The Chinese government will undoubtedly support us,” said She Cairong, the general manager of JAC Motors, adding that state-owned Chinese banks had already become more willing to lend money to Chinese automakers in recent weeks as bank regulators have eased restrictions on loans to heavy industry.
Still, Mr. She and other industry leaders said that while government officials have voiced concern to them about the industry’s deteriorating condition, Beijing has not committed to any specific help.
“They’re asking the questions but they haven’t said anything yet” on how aid might be structured, said Frank Zhao, vice president and chief technology officer of Geely Automobile Holdings. “We really hope the Chinese government will come and help us.”
Michael Dunne, the managing director for China at J. D. Power, said in a telephone interview from Shanghai that the executives’ remarks here represented a shift in the position of the Chinese auto industry.
“This is the first I’ve heard of it,” he said, adding that “as the market slows down, Chinese automakers are going to face competition as they never have before.”
Lots across China became increasingly crowded with unsold cars as sales were slightly lower in August and September than a year earlier. Yet manufacturers unexpectedly increased their shipments of new vehicles to dealerships last month by 10 percent compared with a year earlier, seeking to keep new factories busy and avoid layoffs.
Retail sales figures for October are due this week, and are likely to show a further decline that could set off another round of price cuts in a market where discounting is already becoming increasingly common.
Detroit has repeatedly found that raising production in the face of weak retail sales is a recipe for financial trouble, and there is little reason to think that will be different in China.
The Chinese auto industry faces several threats simultaneously. Weakening economic growth, falling real estate prices and a yearlong plunge in the stock market have made consumers leery of spending money. Fuel prices in China are still high despite the recent decline in world oil prices. And Chinese auto exports, mostly to developing countries in Eastern Europe, Southeast Asia, Africa and Latin America, are starting to crumble.
China’s car industry is already bigger than Japan’s, and is approaching in sales the industries of the United States and all of Europe. China is on track to sell 10 million vehicles this year, while demand in the United States is dropping toward 14 million vehicles.
Automobiles have played a central role in Beijing’s recent plans to move up the manufacturing chain, from making cheap goods that require unskilled or low-skilled workers to more advanced products.
To that end, the Chinese government has provided considerable help to China’s nascent auto industry with research and development spending, as well as loans from state-owned banks.
But there is some disagreement within the Chinese auto industry now about how the government can be most helpful.
Some companies, like Geely, are looking for more government grants to help them develop hybrid gasoline-electric cars and other cutting-edge technologies for which research spending may be cut if sales do not recover.
RELATED LINKS
Current DateTime: 10:25:40 18 Nov 2008
LinksList Documentid: 27796497
* Daryl Guppy Charts GM & Ford
* Automakers Plead for Congress to Fund Bailout
* What Car Makers Must Do
* Ford Abandons Mazda Control with 20% Stake Sale
* Ford CEO: Industry in Peril
* Let Makers of Huge Cars Fail: Analyst
* Autos Can't Be Bailed Out Like Banks
* More Asia Pacific News
But Zheng Qinghong, the general manager of Guangzhou Auto, one of China’s largest and fastest-growing automakers, said that the Chinese industry needs the government to help consumers become enthusiastic again about buying cars. Retail sales have dipped a couple percentage points to 750,000 a month; sales were still rising at an annual pace of 24 percent a year ago. “The best way is to boost growth in demand” for cars, through steps like lower car taxes and lower fuel prices, he said in an interview.
Western multinationals would probably benefit at least indirectly from any government initiative to help China’s auto industry, because Western companies are required to do business through joint ventures with Chinese automakers, most of which are partly or entirely government owned.
Jeffrey Shen, the chief executive and president of one of these joint ventures, the Changan Ford Mazda Automobile Company, said that he did not know how the government would help, but that some steps were inevitable. “I’m sure it will come,” he said, with both extra assistance for research and greater availability of loans.
The renewed willingness of state-owned banks to lend money to the auto industry this autumn is in contrast with the United States, where General Motors [GM 3.09 -0.09 (-2.83%) ], Ford [F 1.68 -0.04 (-2.33%) ] and Chrysler have found banks and other investors leery of lending to them.
MORE FROM NYTIMES.COM
Current DateTime: 09:20:35 18 Nov 2008
LinksList Documentid: 22528754
* Business
* DealBook Blog
* Small Business News
Government-mandated lending quotas, not interest rates, tend to be the most important limit on bank lending in China. Regulators have begun easing the quotas this fall after four years of fairly tight quotas imposed in an effort to control the growth of the money supply and limit inflation.
Direct loans from the government of the sort under discussion in Washington are not needed in China, Mr. Zheng said. “For now, the Chinese auto industry doesn’t need saving” in the same way as the American industry, he said.
Chinese automakers began facing real difficulties only in the third quarter, and have not yet released results for that period; many release their results only twice a year.
Gas prices have not fallen in China because the government pushed up regulated retail gasoline and diesel prices at service stations to more than $3 a gallon over the last year, but has not lowered retail prices as oil prices have plunged.
The government is trying to encourage energy conservation and allow oil refiners to recover financially from sometimes being forced to sell gasoline and diesel below cost earlier this year during the spike in oil prices.
China’s top three export markets for fully assembled vehicles are Russia, Ukraine and Vietnam, all of which are struggling with the global financial crisis.
Great Wall Motor has had a 40 percent plunge in its monthly exports to Russia in the last three months, said Steven Wang, the deputy manager of the company’s international trade division. But Great Wall Motor has still managed to avoid any layoffs because domestic sales remain strong enough to maintain employment, Mr. Wang said.
From 'Fast Money':
* See What People Are Saying About the Auto Bailout
With China’s largest automakers involved in joint ventures with American automakers, and with the entire Chinese auto industry now seeking its own forms of government help as well, criticism of any bailout for Detroit has been muted. Producers elsewhere in Asia, facing declining markets at home as well, have also been hesitant to criticize.
“We support vigorous competition in the automotive market place and recognize there may be extraordinary situations when such a vital sector of the American economy may require unprecedented actions to assure its long-term viability and a healthy American economy which benefits everyone,” said Jake Jang, a spokesman for Hyundai Motor in South Korea.
But managers at some of the smaller Chinese manufacturers, especially those with hopes of entering the American market some day, are unhappy about the prospect of assistance for Detroit from Washington.
“If G.M., Ford and Chrysler get a lot of support from their government, it’s not fair,” said Gordon Chen, the international business manager of Changfeng Motor, which has displayed cars at the last two Detroit auto shows in preparation for entering the American market in 2011 or 2012.
Choe Sang-hun contributed reporting from Seoul
Copyright © 2008 The New York Times
China’s auto industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives said in interviews with the New York Times.
Caddy display
This autumn, after six years of 20 percent or more annual growth, vehicle sales were flat or slightly negative, a shock to an industry that has borrowed heavily to build ever more factories for a market that had once seemed insatiable.
Citing the $25 billion in loans that Congress has already approved to help American automakers increase green research, and the additional $25 billion in loans the American industry is seeking this week to cope with a hobbled economy, Chinese executives are now telling the government here that they also need emergency measures. They are seeking lower taxes on new cars, lower fuel prices and increased grants for research into hybrid cars and new technology.
“The Chinese government will undoubtedly support us,” said She Cairong, the general manager of JAC Motors, adding that state-owned Chinese banks had already become more willing to lend money to Chinese automakers in recent weeks as bank regulators have eased restrictions on loans to heavy industry.
Still, Mr. She and other industry leaders said that while government officials have voiced concern to them about the industry’s deteriorating condition, Beijing has not committed to any specific help.
“They’re asking the questions but they haven’t said anything yet” on how aid might be structured, said Frank Zhao, vice president and chief technology officer of Geely Automobile Holdings. “We really hope the Chinese government will come and help us.”
Michael Dunne, the managing director for China at J. D. Power, said in a telephone interview from Shanghai that the executives’ remarks here represented a shift in the position of the Chinese auto industry.
“This is the first I’ve heard of it,” he said, adding that “as the market slows down, Chinese automakers are going to face competition as they never have before.”
Lots across China became increasingly crowded with unsold cars as sales were slightly lower in August and September than a year earlier. Yet manufacturers unexpectedly increased their shipments of new vehicles to dealerships last month by 10 percent compared with a year earlier, seeking to keep new factories busy and avoid layoffs.
Retail sales figures for October are due this week, and are likely to show a further decline that could set off another round of price cuts in a market where discounting is already becoming increasingly common.
Detroit has repeatedly found that raising production in the face of weak retail sales is a recipe for financial trouble, and there is little reason to think that will be different in China.
The Chinese auto industry faces several threats simultaneously. Weakening economic growth, falling real estate prices and a yearlong plunge in the stock market have made consumers leery of spending money. Fuel prices in China are still high despite the recent decline in world oil prices. And Chinese auto exports, mostly to developing countries in Eastern Europe, Southeast Asia, Africa and Latin America, are starting to crumble.
China’s car industry is already bigger than Japan’s, and is approaching in sales the industries of the United States and all of Europe. China is on track to sell 10 million vehicles this year, while demand in the United States is dropping toward 14 million vehicles.
Automobiles have played a central role in Beijing’s recent plans to move up the manufacturing chain, from making cheap goods that require unskilled or low-skilled workers to more advanced products.
To that end, the Chinese government has provided considerable help to China’s nascent auto industry with research and development spending, as well as loans from state-owned banks.
But there is some disagreement within the Chinese auto industry now about how the government can be most helpful.
Some companies, like Geely, are looking for more government grants to help them develop hybrid gasoline-electric cars and other cutting-edge technologies for which research spending may be cut if sales do not recover.
RELATED LINKS
Current DateTime: 10:25:40 18 Nov 2008
LinksList Documentid: 27796497
* Daryl Guppy Charts GM & Ford
* Automakers Plead for Congress to Fund Bailout
* What Car Makers Must Do
* Ford Abandons Mazda Control with 20% Stake Sale
* Ford CEO: Industry in Peril
* Let Makers of Huge Cars Fail: Analyst
* Autos Can't Be Bailed Out Like Banks
* More Asia Pacific News
But Zheng Qinghong, the general manager of Guangzhou Auto, one of China’s largest and fastest-growing automakers, said that the Chinese industry needs the government to help consumers become enthusiastic again about buying cars. Retail sales have dipped a couple percentage points to 750,000 a month; sales were still rising at an annual pace of 24 percent a year ago. “The best way is to boost growth in demand” for cars, through steps like lower car taxes and lower fuel prices, he said in an interview.
Western multinationals would probably benefit at least indirectly from any government initiative to help China’s auto industry, because Western companies are required to do business through joint ventures with Chinese automakers, most of which are partly or entirely government owned.
Jeffrey Shen, the chief executive and president of one of these joint ventures, the Changan Ford Mazda Automobile Company, said that he did not know how the government would help, but that some steps were inevitable. “I’m sure it will come,” he said, with both extra assistance for research and greater availability of loans.
The renewed willingness of state-owned banks to lend money to the auto industry this autumn is in contrast with the United States, where General Motors [GM 3.09 -0.09 (-2.83%) ], Ford [F 1.68 -0.04 (-2.33%) ] and Chrysler have found banks and other investors leery of lending to them.
MORE FROM NYTIMES.COM
Current DateTime: 09:20:35 18 Nov 2008
LinksList Documentid: 22528754
* Business
* DealBook Blog
* Small Business News
Government-mandated lending quotas, not interest rates, tend to be the most important limit on bank lending in China. Regulators have begun easing the quotas this fall after four years of fairly tight quotas imposed in an effort to control the growth of the money supply and limit inflation.
Direct loans from the government of the sort under discussion in Washington are not needed in China, Mr. Zheng said. “For now, the Chinese auto industry doesn’t need saving” in the same way as the American industry, he said.
Chinese automakers began facing real difficulties only in the third quarter, and have not yet released results for that period; many release their results only twice a year.
Gas prices have not fallen in China because the government pushed up regulated retail gasoline and diesel prices at service stations to more than $3 a gallon over the last year, but has not lowered retail prices as oil prices have plunged.
The government is trying to encourage energy conservation and allow oil refiners to recover financially from sometimes being forced to sell gasoline and diesel below cost earlier this year during the spike in oil prices.
China’s top three export markets for fully assembled vehicles are Russia, Ukraine and Vietnam, all of which are struggling with the global financial crisis.
Great Wall Motor has had a 40 percent plunge in its monthly exports to Russia in the last three months, said Steven Wang, the deputy manager of the company’s international trade division. But Great Wall Motor has still managed to avoid any layoffs because domestic sales remain strong enough to maintain employment, Mr. Wang said.
From 'Fast Money':
* See What People Are Saying About the Auto Bailout
With China’s largest automakers involved in joint ventures with American automakers, and with the entire Chinese auto industry now seeking its own forms of government help as well, criticism of any bailout for Detroit has been muted. Producers elsewhere in Asia, facing declining markets at home as well, have also been hesitant to criticize.
“We support vigorous competition in the automotive market place and recognize there may be extraordinary situations when such a vital sector of the American economy may require unprecedented actions to assure its long-term viability and a healthy American economy which benefits everyone,” said Jake Jang, a spokesman for Hyundai Motor in South Korea.
But managers at some of the smaller Chinese manufacturers, especially those with hopes of entering the American market some day, are unhappy about the prospect of assistance for Detroit from Washington.
“If G.M., Ford and Chrysler get a lot of support from their government, it’s not fair,” said Gordon Chen, the international business manager of Changfeng Motor, which has displayed cars at the last two Detroit auto shows in preparation for entering the American market in 2011 or 2012.
Choe Sang-hun contributed reporting from Seoul
Copyright © 2008 The New York Times
China Seeks to Curb Unrest Amid Global Finance Crisis
China has urged police to ensure social stability amid the global financial crisis after thousands rioted in a northwestern city against a resettlement scheme, beating up police and looting offices.
China, Chinese Flag
CNBC.com
Communist China, used to decades of solid economic growth, is battling an unknown as falling demand for its products triggers the closure of factories, sparking protests by laid-off workers and raising fears of wider popular unrest.
Thousands of people mobbed a government office in Longnan city, Gansu province, on Monday, torching cars and looting office equipment in a riot sparked by a government scheme to resettle residents, state media reported.
Unrest flared again on Tuesday, Xinhua news agency reported. Officials contacted at the Longnan government offices refused to comment.
Public Security Minister Meng Jianzhu said police "should be fully aware of the challenge brought by the global financial crisis and try their best to maintain social stability", the China Daily quoted him as saying.
"You should let the people know the authority and dignity of the law and meanwhile make them feel the care and warmth from public security authorities," Meng said.
Gansu provincial authorities had dispatched an emergency security force to maintain order in Longnan and ordered main streets to close and television stations to let "the masses understand the true situation".
RELATED LINKS
Current DateTime: 10:12:23 18 Nov 2008
LinksList Documentid: 27795069
* Singapore's NOL to Cut Jobs, Profit Outlook Grim
* Ford Abandons Mazda Control with 20% Stake Sale
* HSBC Cuts More Jobs as Credit Crunches Asia
* Chinese Airline Groups Seek State Aid to Ease Losses
* More Asia Pacific News
Footage carried on Youtube showed riot police struggling to restore order on city streets while being pelted with stones, while pictures on Chinese web portals showed columns of armed riot police sheltering beneath a phalanx of shields.
The Longnan rioting follows a number of strikes by taxi drivers and labor protests in the country's major export regions, where thousands of factories have closed in recent months.
Taxi drivers went on strike in three Chinese cities in recent weeks, complaining of high rental fees and competition from unlicensed taxis. Drivers in Sanya, a resort city on the southern province of Hainan, blockaded government offices.
Workers at a diesel plant in Jiangyan city, eastern Jiangsu province, last week blocked local highways and surrounded government offices amid concerns over job security.
And hundreds rallied on the streets of a city in southern Guangdong province, demanding unpaid wages from a shuttered toy maker.
China, Chinese Flag
CNBC.com
Communist China, used to decades of solid economic growth, is battling an unknown as falling demand for its products triggers the closure of factories, sparking protests by laid-off workers and raising fears of wider popular unrest.
Thousands of people mobbed a government office in Longnan city, Gansu province, on Monday, torching cars and looting office equipment in a riot sparked by a government scheme to resettle residents, state media reported.
Unrest flared again on Tuesday, Xinhua news agency reported. Officials contacted at the Longnan government offices refused to comment.
Public Security Minister Meng Jianzhu said police "should be fully aware of the challenge brought by the global financial crisis and try their best to maintain social stability", the China Daily quoted him as saying.
"You should let the people know the authority and dignity of the law and meanwhile make them feel the care and warmth from public security authorities," Meng said.
Gansu provincial authorities had dispatched an emergency security force to maintain order in Longnan and ordered main streets to close and television stations to let "the masses understand the true situation".
RELATED LINKS
Current DateTime: 10:12:23 18 Nov 2008
LinksList Documentid: 27795069
* Singapore's NOL to Cut Jobs, Profit Outlook Grim
* Ford Abandons Mazda Control with 20% Stake Sale
* HSBC Cuts More Jobs as Credit Crunches Asia
* Chinese Airline Groups Seek State Aid to Ease Losses
* More Asia Pacific News
Footage carried on Youtube showed riot police struggling to restore order on city streets while being pelted with stones, while pictures on Chinese web portals showed columns of armed riot police sheltering beneath a phalanx of shields.
The Longnan rioting follows a number of strikes by taxi drivers and labor protests in the country's major export regions, where thousands of factories have closed in recent months.
Taxi drivers went on strike in three Chinese cities in recent weeks, complaining of high rental fees and competition from unlicensed taxis. Drivers in Sanya, a resort city on the southern province of Hainan, blockaded government offices.
Workers at a diesel plant in Jiangyan city, eastern Jiangsu province, last week blocked local highways and surrounded government offices amid concerns over job security.
And hundreds rallied on the streets of a city in southern Guangdong province, demanding unpaid wages from a shuttered toy maker.
Akuisisi BCIC, Sinar Mas Belum Bicarakan Nilai
JAKARTA, RABU - PT Sinar Mas Multartha (SMMA) mengungkapkan pihaknya belum membicarakan harga dan nilai terkait proses akuisisi 70 persen saham PT Bank Century (BCIC).
Direktur Utama SMMA Edward H Hadidjaja, dalam keterbukaan informasi di Jakarta, Rabu (19/11), mengungkapkan bahwa pada saat ini SMMA dengan pemegang saham pengendali BCIC sedang dalam tahap minat beli (letter of intent) dan belum ada harga dan nilai akuisisi.
Menurut Edward, penentuan harga dan nilai akuisisi tersebut masih menunggu hasil uji tuntas (due diligence). "Sedangkan untuk jadwal dan target penyelesaian akuisisi BCIC oleh SMMA ini akan dilaksanakan sesuai dengan jadwal dan ketentuan yang berlaku setelah selesainya due diligence," katanya.
Edward juga mengungkapkan, karena masih menunggu proses due diligence, maka perseroan belum mempunyai rencana pelaksanaan penawaran tender atas saham BCIC.
Dalam pemberitaan sebelumnya, SMMA bersama PT Century Mega Investindo dan First Gulf Asia Holdings Ltd sebagai pemegang saham pengendali BCIC pada 16 November 2008 telah menandatangani "Letter of Intent" untuk mengakuisisi hingga 70 persen saham BCIC.
Penyelesaian proses akuisisi tersebut akan dilakukan dalam waktu singkat dan sesegera mungkin, termasuk permohonan persetujuan kepada pihak regulator serta pemegang saham.
Akuisisi ini bahkan disambut baik oleh manajemen BCIC. Hermanus Hasan Muslim selaku Direktur Utama BCIC menyatakan bahwa akuisisi ini akan memungkinkan kerjasama antara BCIC dan SMMA dalam peningkatan jasa dan layanan kepada para nasabah.
SMMA yang bergerak di bidang multi finance telah memiliki anak-anak perusahaan, diantaranya PT Asuransi Sinar Mas (99,99 persen), PT AB Sinar Mas Multifinance (99,99 persen), PT Sinar Mas Multifinance (99,99 persen), PT Sinarmas Futures (99,99 persen), PT Arthamas Konsulindo (99,99 persen), PT Sinarmas Sekuritas (99,99 persen), PT Sinartama Gunita (99,8 persen) dan PT Sinar Artha Konsulindo (99,75 persen).
Kemudian, PT Jakarta Teknologi Utama Motor (99,28 persen), PT Shinta Utama (99 persen), PT Arthamas Solusindo (99 persen), PT Arthamas Informatika (99 persen), PT Sinar Artha Solusindo (99 persen), PT Sinar Artha Inforindo (99 persen), PT Komunindo Arga Digital (95 persen), PT Asuransi Jiwa Sinarmas (73,08 persen), PT Super Wahana Tehno (66 persen), PT Wapindo Jasaartha (60 persen), PT Bank Sintha Indonesia (59,11 persen), PT Autopro Utama Perkasa (50,63 persen) dan PT Bank Sintha Indonesia (melalui PT Shinta Utama) sebanyak 40,48 persen.
Direktur Utama SMMA Edward H Hadidjaja, dalam keterbukaan informasi di Jakarta, Rabu (19/11), mengungkapkan bahwa pada saat ini SMMA dengan pemegang saham pengendali BCIC sedang dalam tahap minat beli (letter of intent) dan belum ada harga dan nilai akuisisi.
Menurut Edward, penentuan harga dan nilai akuisisi tersebut masih menunggu hasil uji tuntas (due diligence). "Sedangkan untuk jadwal dan target penyelesaian akuisisi BCIC oleh SMMA ini akan dilaksanakan sesuai dengan jadwal dan ketentuan yang berlaku setelah selesainya due diligence," katanya.
Edward juga mengungkapkan, karena masih menunggu proses due diligence, maka perseroan belum mempunyai rencana pelaksanaan penawaran tender atas saham BCIC.
Dalam pemberitaan sebelumnya, SMMA bersama PT Century Mega Investindo dan First Gulf Asia Holdings Ltd sebagai pemegang saham pengendali BCIC pada 16 November 2008 telah menandatangani "Letter of Intent" untuk mengakuisisi hingga 70 persen saham BCIC.
Penyelesaian proses akuisisi tersebut akan dilakukan dalam waktu singkat dan sesegera mungkin, termasuk permohonan persetujuan kepada pihak regulator serta pemegang saham.
Akuisisi ini bahkan disambut baik oleh manajemen BCIC. Hermanus Hasan Muslim selaku Direktur Utama BCIC menyatakan bahwa akuisisi ini akan memungkinkan kerjasama antara BCIC dan SMMA dalam peningkatan jasa dan layanan kepada para nasabah.
SMMA yang bergerak di bidang multi finance telah memiliki anak-anak perusahaan, diantaranya PT Asuransi Sinar Mas (99,99 persen), PT AB Sinar Mas Multifinance (99,99 persen), PT Sinar Mas Multifinance (99,99 persen), PT Sinarmas Futures (99,99 persen), PT Arthamas Konsulindo (99,99 persen), PT Sinarmas Sekuritas (99,99 persen), PT Sinartama Gunita (99,8 persen) dan PT Sinar Artha Konsulindo (99,75 persen).
Kemudian, PT Jakarta Teknologi Utama Motor (99,28 persen), PT Shinta Utama (99 persen), PT Arthamas Solusindo (99 persen), PT Arthamas Informatika (99 persen), PT Sinar Artha Solusindo (99 persen), PT Sinar Artha Inforindo (99 persen), PT Komunindo Arga Digital (95 persen), PT Asuransi Jiwa Sinarmas (73,08 persen), PT Super Wahana Tehno (66 persen), PT Wapindo Jasaartha (60 persen), PT Bank Sintha Indonesia (59,11 persen), PT Autopro Utama Perkasa (50,63 persen) dan PT Bank Sintha Indonesia (melalui PT Shinta Utama) sebanyak 40,48 persen.
Saham dan Rupiah Masih Tertunduk
JAKARTA, RABU - Saham-saham di Bursa Efek Indonesia masih berjumpalitan di zona merah, mengikuti melemahnya mayoritas pasar saham regional. Sementara rupiah siang ini kembali melewati level 12.000, dengan berada pada Rp 12.045 per dollar AS.
Saham-saham komoditas dan perdagangan membawa Indeks Harga Saham Gabungan sesi I Rabu (19/11), ditutup 23,729 poin (1,99 persen) menjadi 1.166,133.
Sedangkan indeks Kompas 100 melemah 2,13 persen pada 277,984, kemudian indeks 45 saham terlikuid, LQ45 turun 2,47 persen menjadi 220,902, serta Jakarta Islamic Index menyusut 1,08 persen ke 181,379.
Pelemahan indeks dipimpin sektor perdagangan yang melorot 3,91 persen, kemduian sektor pertambangan turun 3,60 persen, serta sektor perkebunan susut 2,66 persen dan perbankan berkurang 2,56 persen.
Pada sesi pagi ini, nilai perdagangan hanya Rp 462,4 miliar dari 16.859 kali transaksi dengan volume 1,016 miliar saham. Sebanyak 110 saham turun mendominasi perdagangan dibandingkan 19 saham naik serta 39 saham stagnan.
Sumber :http://www.kompas.com/read/xml/2008/11/19/12135090/Saham.dan.Rupiah.Masih.Tertunduk
Saham-saham komoditas dan perdagangan membawa Indeks Harga Saham Gabungan sesi I Rabu (19/11), ditutup 23,729 poin (1,99 persen) menjadi 1.166,133.
Sedangkan indeks Kompas 100 melemah 2,13 persen pada 277,984, kemudian indeks 45 saham terlikuid, LQ45 turun 2,47 persen menjadi 220,902, serta Jakarta Islamic Index menyusut 1,08 persen ke 181,379.
Pelemahan indeks dipimpin sektor perdagangan yang melorot 3,91 persen, kemduian sektor pertambangan turun 3,60 persen, serta sektor perkebunan susut 2,66 persen dan perbankan berkurang 2,56 persen.
Pada sesi pagi ini, nilai perdagangan hanya Rp 462,4 miliar dari 16.859 kali transaksi dengan volume 1,016 miliar saham. Sebanyak 110 saham turun mendominasi perdagangan dibandingkan 19 saham naik serta 39 saham stagnan.
Sumber :http://www.kompas.com/read/xml/2008/11/19/12135090/Saham.dan.Rupiah.Masih.Tertunduk
Analisa Tehnikal By AN 19 November 2008
Jpy Buy :
Sell : 97.30
Stop : 97.90
Intraday : 96.30 – 95.80
Daily : 95.45 – 98.10
GBP Buy :
Sell : 1.5050
Stop : 1.5120
Intraday : 1.4945 – 1.4890
Daily : 1.4815 – 1.4760
XAU Buy : 734.50
Sell :
Stop : 730.00
Intraday : 738.36 – 740.90
Daily : 743.50 – 746.15
CHF Buy : 1.2000
Sell :
Stop : 1.1940
Intraday : 1.2075 – 1.2160
Daily : 1.2245 – 1.2320
AUD Buy :
Sell : 0.6530
Stop : 0.6590
Intraday : 0.6485 -0.6440
Daily : 0.6370 – 0.6330
EUR JPY Buy :
Sell : 123.30
Stop : 123.80
Intraday : 121.90 – 121.00
Daily : 120.50 – 120.20
EUR Buy :
Sell : 1.2660
Stop : 1.2735
Intraday : 1.2580 – 1.2535
Daily : 1.2485 – 1.2460
Analisa Masih menunjukan pergerakan relatif yang terbatas kemarin namun kedepannya diharapkan mengenai stop maka akan terjadi koreksi
Sell : 97.30
Stop : 97.90
Intraday : 96.30 – 95.80
Daily : 95.45 – 98.10
GBP Buy :
Sell : 1.5050
Stop : 1.5120
Intraday : 1.4945 – 1.4890
Daily : 1.4815 – 1.4760
XAU Buy : 734.50
Sell :
Stop : 730.00
Intraday : 738.36 – 740.90
Daily : 743.50 – 746.15
CHF Buy : 1.2000
Sell :
Stop : 1.1940
Intraday : 1.2075 – 1.2160
Daily : 1.2245 – 1.2320
AUD Buy :
Sell : 0.6530
Stop : 0.6590
Intraday : 0.6485 -0.6440
Daily : 0.6370 – 0.6330
EUR JPY Buy :
Sell : 123.30
Stop : 123.80
Intraday : 121.90 – 121.00
Daily : 120.50 – 120.20
EUR Buy :
Sell : 1.2660
Stop : 1.2735
Intraday : 1.2580 – 1.2535
Daily : 1.2485 – 1.2460
Analisa Masih menunjukan pergerakan relatif yang terbatas kemarin namun kedepannya diharapkan mengenai stop maka akan terjadi koreksi
Analisa Tehnikal By MB 19 Nov 2008
The euro moved marginally lower vis-Ã -vis the U.S. dollar today as the single currency tested bids around the US$ 1.2570 level and was capped around the $1.2685 level. Traders are closely watching congressional testimony from Federal Reserve Chairman Bernanke and Treasury Secretary Paulson today. Paulson recently noted the credit crisis has moved beyond the housing sector and both officials are likely to face extreme pressure regarding an automakers’ bailout or stabilization board. There will also be grilling related to the Bush administration’s decision to not purchase up to US$ 700 billion in toxic assets pursuant to the Emergency Economic Stabilization Act. Instead of being appropriated to the Troubled Asset Relief Program, the funds are likely to be injected directly into banks. Data released in the U.S. today saw October producer prices fall a record 2.8% following September’s 0.4% decline and October PPI was up 5.2%. Core PPI was up 0.4% m/m and 4.4% y/y. Other data saw September net capital inflows of US$ 143.4 billion, large enough to cover the US$ 56.47 billion trade deficit that month. Fed funds futures are fully pricing in a 50bps cut in the federal funds target rate to 1.00% by the Federal Open Market Committee next month. Data released n the U.S. last year saw October industrial production up 1.3% with October capacity utilization at 76.4%. In eurozone news, the European Parliament called for the European Central Bank’s rate-setting power to be shifted from the larger Governing Council to the smaller Executive Board, a move that will likely fail because it would require 27 European Union members to ratify changes to the treaty. ECB member Noyer said there have recently been some signs of improvement in the money markets. Euro bids are cited around the US$ 1.2135 level.
The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the ¥97.15 level and was supported around the ¥96.05 levels. The pair retraced most of the intraday losses incurred in late North American dealing yesterday. Traders are closely watching the political kabuki in Japan where the opposition Democrats are trying force an early election by delaying key bills designed to assist struggling banks. Traders are closely monitoring this week’s Bank of Japan Policy Board meeting with most expecting no additional easing at this time after having cut the unsecured call rate by 20bps to 30bps in October. Still, it is possible the central bank may adopt other measures designed to steer money market rates lower. Economy minister Yosano warned the next fiscal year beginning in April could also see negative growth. The Nikkei 225 stock index lost 2.28% to close at ¥8,328.41. U.S. dollar offers are cited around the ¥104.15 level. The euro moved higher vis-Ã -vis the yen as the single currency tested offers around the ¥122.95 level and was supported around the ¥121.00 figure. The British pound moved higher vis-Ã -vis the yen as sterling tested offers around the ¥146.00 figure while the Swiss franc gained ground vis-Ã -vis the yen and tested offers around the ¥80.95 level. The Chinese yuan depreciated vis-Ã -vis the U.S. dollar as the greenback closed at CNY 6.8284 in the over-the-counter market, up from CNY 6.8269.
The British pound moved higher vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 1.5090 level and was supported around the $1.4935 level. Data released in the U.K. today saw consumer price inflation decline in October at its fastest pace since at least 1997. CPI growth decelerated to 4.5% y/y from 5.2% y/y in September, representing its lowest level since July and off 0.2% m/m. Core inflation fell to 1.9% y/y from 2.2% y/y in September. Short sterling interest rate futures are pricing in additional easing by Bank of England’s Monetary Policy Committee over the coming months. Chancellor of the Exchequer Darling reported the government will continue to purchasing shares at discounted prices in companies that participate in its recapitalization scheme. Cable bids are cited around the US$ 1.4315 level. The euro moved lower vis-Ã -vis the British pound as the single currency tested bids around the ₤0.8355 level and was capped around the ₤0.8450 level.
The Swiss franc depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the CHF 1.2025 level and was supported around the CHF 1.1970 level. Data released in Switzerland today saw Swiss retail sales climb 6.4% y/y while October unemployment reached 2.5%. U.S. dollar offers are cited around the CHF 1.2120 level. The euro and British pound appreciated vis-Ã -vis the Swiss franc as the crosses tested offers around the CHF 1.5190 and CHF 1.8090 levels, respectively.
EUR/USD
Support Resistance
L1. 1.2130 1.2925
L2. 1.1590 1.3205
L3. 1.1210 1.3595
GBP/USD
Support Resistance
L1. 1.5065 1.6435
L2. 1.4580 1.7150
L3. 1.4155 1.7725
USD/JPY
Support Resistance
L1. 89.30 100.75
L2. 84.20 103.10
L3. 81.10 106.00
AUD/USD
Support Resistance
L1. 0.5535 0.6380
L2. 0.5380 0.6620
L3. 0.4775 0.6980
The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the ¥97.15 level and was supported around the ¥96.05 levels. The pair retraced most of the intraday losses incurred in late North American dealing yesterday. Traders are closely watching the political kabuki in Japan where the opposition Democrats are trying force an early election by delaying key bills designed to assist struggling banks. Traders are closely monitoring this week’s Bank of Japan Policy Board meeting with most expecting no additional easing at this time after having cut the unsecured call rate by 20bps to 30bps in October. Still, it is possible the central bank may adopt other measures designed to steer money market rates lower. Economy minister Yosano warned the next fiscal year beginning in April could also see negative growth. The Nikkei 225 stock index lost 2.28% to close at ¥8,328.41. U.S. dollar offers are cited around the ¥104.15 level. The euro moved higher vis-Ã -vis the yen as the single currency tested offers around the ¥122.95 level and was supported around the ¥121.00 figure. The British pound moved higher vis-Ã -vis the yen as sterling tested offers around the ¥146.00 figure while the Swiss franc gained ground vis-Ã -vis the yen and tested offers around the ¥80.95 level. The Chinese yuan depreciated vis-Ã -vis the U.S. dollar as the greenback closed at CNY 6.8284 in the over-the-counter market, up from CNY 6.8269.
The British pound moved higher vis-Ã -vis the U.S. dollar today as cable tested offers around the US$ 1.5090 level and was supported around the $1.4935 level. Data released in the U.K. today saw consumer price inflation decline in October at its fastest pace since at least 1997. CPI growth decelerated to 4.5% y/y from 5.2% y/y in September, representing its lowest level since July and off 0.2% m/m. Core inflation fell to 1.9% y/y from 2.2% y/y in September. Short sterling interest rate futures are pricing in additional easing by Bank of England’s Monetary Policy Committee over the coming months. Chancellor of the Exchequer Darling reported the government will continue to purchasing shares at discounted prices in companies that participate in its recapitalization scheme. Cable bids are cited around the US$ 1.4315 level. The euro moved lower vis-Ã -vis the British pound as the single currency tested bids around the ₤0.8355 level and was capped around the ₤0.8450 level.
The Swiss franc depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the CHF 1.2025 level and was supported around the CHF 1.1970 level. Data released in Switzerland today saw Swiss retail sales climb 6.4% y/y while October unemployment reached 2.5%. U.S. dollar offers are cited around the CHF 1.2120 level. The euro and British pound appreciated vis-Ã -vis the Swiss franc as the crosses tested offers around the CHF 1.5190 and CHF 1.8090 levels, respectively.
EUR/USD
Support Resistance
L1. 1.2130 1.2925
L2. 1.1590 1.3205
L3. 1.1210 1.3595
GBP/USD
Support Resistance
L1. 1.5065 1.6435
L2. 1.4580 1.7150
L3. 1.4155 1.7725
USD/JPY
Support Resistance
L1. 89.30 100.75
L2. 84.20 103.10
L3. 81.10 106.00
AUD/USD
Support Resistance
L1. 0.5535 0.6380
L2. 0.5380 0.6620
L3. 0.4775 0.6980
IHSG lepas dari tekanan
Jakarta - Indeks Harga Saham Gabungan (IHSG) sudah dua hari berturut-turut dalam pekan ini mengalami pelemahan. IHSG akan berusaha mengurangi tekanan yang tajam itu.
Salah satu faktor yang bisa mengurangi tekanan terhadap IHSG pada perdagangan Rabu (19/11/2008) adalah rebound yang terjadi di Wall Street .
Pada perdagangan Selasa (18/11/2008), indeks Dow Jones menguat 151,17 poin (1,83%) ke level 8.424,75, Standard & Poor's 500 menguat tipis 8,37 poin (0,98%) ke level 859,12 dan Nasdaq menguat tipis hanya 1,22 poin (0,008%) ke level 1.483,27.
Meski sempat bergolak tajam, saham di Wall Street bisa rebound setelah ada pengumuman Hewlett-Packard (HP) yang mencatat kinerja baik, meredam sentimen negatif dari Citigroup yang sedang kepayahan.
Sementara bursa saham di Jepang pada pembukaan Rabu pagi ini relatif datar dengan hanya terkoreksi tipis 0,09 poin atau 7,79 poin ke posisi 8.320,62.
Pelaku pasar dalam negeri akan memanfaatkan aksi beli selektif terhadap saham-saham yang harganya sudah di bawah. Pergerakan rupiah dan sentimen saham Bakrie juga akan mewarnai pergerakan IHSG.
Pada penutupan perdagangan saham, Selasa kemarin (18/11/2008) IHSG anjlok 47,071 poin (3,81%) menjadi 1.189,862.
Berikut rekomendasi saham dari perusahaan sekuritas.
Optima Securities
Indeks kembali terkoreksi 47 poin menjadi 1.189 mengikuti bursa Asia seperti Hang Seng -4,5% dan Nikkei -2,2%. IHSG mendekati titik terendah bulan Oktober lalu di level 1.089. Semua indikator teknikal masih memberikan sinyal bearish belum ada tanda reversal dalam jangka pendek. Pelemahan selanjutnya masih berpotensi kembali dengan kisaran pergerakan 1.120-1.230.
Panin Sekuritas
Pada perdagangan kemarin, IHSG merosot -3.81% mengikuti gerak bursa regional yang bergerak negatif menyusul resesi yang terjadi di Jepang, serta beberapa negara maju lainnya. Seperti diketahui Jepang dan Singapura merupakan dua mitra dagang utama Indonesia . Efek resesi yang dialami negara tersebut, otomatis akan mengancam kinerja ekspor dan pertumbuhan ekonomi Indonesia . Investor global juga masih menanti angka pertumbuhan PDB kuartal 3 dari beberapa negara besar, seperti Amerika Serikat yang akan diumumkan pekan depan.
Selain faktor regional, anjloknya nilai tukar rupiah juga menjadi sentimen negatif tambahan bagi pasar. Seiring dengan minimnya sentimen positif, hari ini kami perkirakan untuk beberapa waktu mendatang IHSG masih akan bergerak melemah menuju support di 1.106.
eTrading Securities
Bursa Indonesia kemarin kembali ditutup di teritori negatif selama 2 hari berturut-turut dalam pekan ini. Indeks kembali melemah 3,8% ke level 1189,8 seiring pelemahan bursa regional dan penurunan harga-harga komoditas. Kembali dibukanya perdagangan saham BNBR dan ENRG juga menjadi sentimen negatif bagi bursa seiring kembali jatuhnya seluruh saham-saham grup Bakrie di pasar. Sektor consumer menjadi penahan laju penurunan indeks dengan menguatnya INDF dan UNVR.
Sementara bursa US berhasil rebound pada akhir sesi perdagangan kemarin meski sempat bergerak sangat volatile. Sentimen positif datang dari sektor teknologi dan energy related di US setelah Hewlett-Packard Co menyatakan kinerja 4Q08 dan 2009 ke depan akan lebih baik dari ekspektasi analis. Namun, sentimen negatif kembali datang dari data wholeseller price yang turun ke level terendah dan turunnya homebuilder confidence ke titik terendah sepanjang masa. Dow berhasil rebound +1,8%, S&P500 +1%, Nasdaq +1,2%. Bursa Asia sendiri belum mampu turut menguat pada perdagangan hari ini. Nikkei -0,2%, KOSPI -2%.
Bursa Indonesia sendiri nampaknya belum akan mampu untuk rebound hari ini seiring minimnya sentimen positif dan masih besarnya tekanan jual pada saham-saham grup Bakrie yang akan mampu menekan pergerakan indeks. Harga miyak yang kembali mencetak rekor terendah sejak Januari 2007 di level US$54/barrel akan menekan saham-saham sektor mining, agri dan energy related. Rentang pergerakan indeks akan berada pada kisaran 1150 - 1200.
Salah satu faktor yang bisa mengurangi tekanan terhadap IHSG pada perdagangan Rabu (19/11/2008) adalah rebound yang terjadi di Wall Street .
Pada perdagangan Selasa (18/11/2008), indeks Dow Jones menguat 151,17 poin (1,83%) ke level 8.424,75, Standard & Poor's 500 menguat tipis 8,37 poin (0,98%) ke level 859,12 dan Nasdaq menguat tipis hanya 1,22 poin (0,008%) ke level 1.483,27.
Meski sempat bergolak tajam, saham di Wall Street bisa rebound setelah ada pengumuman Hewlett-Packard (HP) yang mencatat kinerja baik, meredam sentimen negatif dari Citigroup yang sedang kepayahan.
Sementara bursa saham di Jepang pada pembukaan Rabu pagi ini relatif datar dengan hanya terkoreksi tipis 0,09 poin atau 7,79 poin ke posisi 8.320,62.
Pelaku pasar dalam negeri akan memanfaatkan aksi beli selektif terhadap saham-saham yang harganya sudah di bawah. Pergerakan rupiah dan sentimen saham Bakrie juga akan mewarnai pergerakan IHSG.
Pada penutupan perdagangan saham, Selasa kemarin (18/11/2008) IHSG anjlok 47,071 poin (3,81%) menjadi 1.189,862.
Berikut rekomendasi saham dari perusahaan sekuritas.
Optima Securities
Indeks kembali terkoreksi 47 poin menjadi 1.189 mengikuti bursa Asia seperti Hang Seng -4,5% dan Nikkei -2,2%. IHSG mendekati titik terendah bulan Oktober lalu di level 1.089. Semua indikator teknikal masih memberikan sinyal bearish belum ada tanda reversal dalam jangka pendek. Pelemahan selanjutnya masih berpotensi kembali dengan kisaran pergerakan 1.120-1.230.
Panin Sekuritas
Pada perdagangan kemarin, IHSG merosot -3.81% mengikuti gerak bursa regional yang bergerak negatif menyusul resesi yang terjadi di Jepang, serta beberapa negara maju lainnya. Seperti diketahui Jepang dan Singapura merupakan dua mitra dagang utama Indonesia . Efek resesi yang dialami negara tersebut, otomatis akan mengancam kinerja ekspor dan pertumbuhan ekonomi Indonesia . Investor global juga masih menanti angka pertumbuhan PDB kuartal 3 dari beberapa negara besar, seperti Amerika Serikat yang akan diumumkan pekan depan.
Selain faktor regional, anjloknya nilai tukar rupiah juga menjadi sentimen negatif tambahan bagi pasar. Seiring dengan minimnya sentimen positif, hari ini kami perkirakan untuk beberapa waktu mendatang IHSG masih akan bergerak melemah menuju support di 1.106.
eTrading Securities
Bursa Indonesia kemarin kembali ditutup di teritori negatif selama 2 hari berturut-turut dalam pekan ini. Indeks kembali melemah 3,8% ke level 1189,8 seiring pelemahan bursa regional dan penurunan harga-harga komoditas. Kembali dibukanya perdagangan saham BNBR dan ENRG juga menjadi sentimen negatif bagi bursa seiring kembali jatuhnya seluruh saham-saham grup Bakrie di pasar. Sektor consumer menjadi penahan laju penurunan indeks dengan menguatnya INDF dan UNVR.
Sementara bursa US berhasil rebound pada akhir sesi perdagangan kemarin meski sempat bergerak sangat volatile. Sentimen positif datang dari sektor teknologi dan energy related di US setelah Hewlett-Packard Co menyatakan kinerja 4Q08 dan 2009 ke depan akan lebih baik dari ekspektasi analis. Namun, sentimen negatif kembali datang dari data wholeseller price yang turun ke level terendah dan turunnya homebuilder confidence ke titik terendah sepanjang masa. Dow berhasil rebound +1,8%, S&P500 +1%, Nasdaq +1,2%. Bursa Asia sendiri belum mampu turut menguat pada perdagangan hari ini. Nikkei -0,2%, KOSPI -2%.
Bursa Indonesia sendiri nampaknya belum akan mampu untuk rebound hari ini seiring minimnya sentimen positif dan masih besarnya tekanan jual pada saham-saham grup Bakrie yang akan mampu menekan pergerakan indeks. Harga miyak yang kembali mencetak rekor terendah sejak Januari 2007 di level US$54/barrel akan menekan saham-saham sektor mining, agri dan energy related. Rentang pergerakan indeks akan berada pada kisaran 1150 - 1200.
Rupiah Waktunya Konsilidasi
Jakarta - Pelemahan rupiah yang terjadi dalam pekan ini hingga sempat menyentuh level 12.000-an per dolar AS dinilai sudah waktunya mengalami konsolidasi. Level yang rasional untuk konsolidasi rupiah di kisaran 11.700-11.800 per dolar AS.
Pada perdagangan valas pukul 07.30 WIB, Rabu (19/11/2008) rupiah ada di posisi 11.748 per dolar AS dan ditransaksikan di kisaran 11.745-11.751 per dolar AS. Posisi rupiah Rabu pagi ini relatif stabil dengan penutupan Selasa kemarin (18/11/2008) di level 11.750 per dolar AS.
Upaya BI yang tidak akan membiarkan pasar membentuk rupiah secara tidak wajar direspons pasar sebagai langkah melakukan intervensi dengan tepat.
BI juga telah menghimbau agar masyarakat melepas dolar AS karena posisinya saat ini cukup menguntungkan. Penukaran dolar AS yang makin banyak diharapkan menambah pasokan dolar AS di pasar sehingga tekanan terhadap rupiah bisa berkurang.
Sementara mata uang dolar AS mulai menguat tipis terhadap euro dan yen meskipun dibayang-bayangi penurunan penjualan peritel dan masih munculnya kecemasan akan krisis global.
Pada penutupan perdagangan Selasa waktu AS (18/11/2008) euro ada di posisi 1,2621 dolar AS dari hari sebelumnya 1,2645 dolar AS. Sedangkan terhadap mata uang Jepang, dolar AS menguat ke 96,89 yen dari hari sebelumnya 96,35 yen.
Pada perdagangan valas pukul 07.30 WIB, Rabu (19/11/2008) rupiah ada di posisi 11.748 per dolar AS dan ditransaksikan di kisaran 11.745-11.751 per dolar AS. Posisi rupiah Rabu pagi ini relatif stabil dengan penutupan Selasa kemarin (18/11/2008) di level 11.750 per dolar AS.
Upaya BI yang tidak akan membiarkan pasar membentuk rupiah secara tidak wajar direspons pasar sebagai langkah melakukan intervensi dengan tepat.
BI juga telah menghimbau agar masyarakat melepas dolar AS karena posisinya saat ini cukup menguntungkan. Penukaran dolar AS yang makin banyak diharapkan menambah pasokan dolar AS di pasar sehingga tekanan terhadap rupiah bisa berkurang.
Sementara mata uang dolar AS mulai menguat tipis terhadap euro dan yen meskipun dibayang-bayangi penurunan penjualan peritel dan masih munculnya kecemasan akan krisis global.
Pada penutupan perdagangan Selasa waktu AS (18/11/2008) euro ada di posisi 1,2621 dolar AS dari hari sebelumnya 1,2645 dolar AS. Sedangkan terhadap mata uang Jepang, dolar AS menguat ke 96,89 yen dari hari sebelumnya 96,35 yen.
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