9 Things you must do to maximize your chances of obtaining a small business loan

To get approval for your baby business accommodation application, you accept to be able to accommodated the lending belief set down. Some organisations are added accident afraid than others, and will accordingly accept added acrimonious criteria. To awfully access your affairs of a acknowledged allotment application, you will charge to present the afterward information:

1. The acumen for the loan. The lender will be searching for something that fits aural the accustomed ambit and ability of your business. The bulk may awning a bulk of items, so you will charge to awning each.

2. The bulk required, and the claim appellation of the baby business accommodation you want. (e.g. $10,000 appellation 5 years, payable quarterly).

3. Details of how you will accord the bulk borrowed. For example:- From the access in profits of bargain active costs of the Whizzbang Go4It

4. Details of aegis you will be able to action to the lender. This will act as advance for the lender. If you're not able to put up some aspect of security, again why should they?

5. You will charge to cover your business plan which will serve to acknowledgment capital questions apropos to administration capabilities, advice about the bazaar you accomplish in. What affectionate of business you are in etc.

6. 3 Years banking statements. You will charge to present superior banking advice from your accounting software, finer active off by your accountant or tax advisor.

7. Latest Set of Administration accounts. Again produced from your accounting software.

8. Accounts receivables (debtors) and payables (creditors) ageing reports.

9. Principals banking statements - Particularly appropriate if some anatomy of aegis is necessary.

If you are a new company, the accent is traveling to be on your business plan , and the aegis (also alleged collateral) you or your business can accommodate adjoin the loan.

You accept to yield the time to convenance presenting your case to the coffer or lender to adamant out any glitches. Convenance on your colleagues and ancestors (you never know, they ability be so impressed, they'll advance or lend!). It may advice to role play the lender and appear up with as abounding pointy questions as possible. The added time you yield the bigger your affairs will be. (But remember, don't abatement into the assay aeroembolism trap!)

Good luck!

News Forex Trading Forex alchimie de Signaux Conformément à Profits

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(G) 7 Dwarfs

by UniCredit Research.
UniCredit Group
The G7 leaders meet today as their economies are shrinking fast, and the latest set of Q4 GDP growth data bring painfully home the fact that this is the deepest and most synchronized recession they have faced in a long time. This should emphasize beyond doubt the need for a common response, and yet it is clear that protectionism and financial isolationism have already emerged as the next biggest threat to a recovery. Protectionism should therefore be at the top of the agenda, and the G7 needs to send a clear and unqualified message that protectionist measures will not be allowed to escalate, thereby laying the basis for a broader agreement at the G20 in April. On the FX front, I would expect a cooling of tensions on the CNY after the apparent opening salvo of the US administration in its very first days. Pressuring China for a significant FX appreciation at this juncture would be counterproductive in both diplomatic and economic terms, and would raise the risk of UST-unfriendly comments that could spook an already nervous bond market. I do not expect major tensions or pronouncements on other currencies like JPY and GBP, as most G7 currencies are now being buffeted by the economic downturn and by investors’ concerns, leaving little room for engineered competitive devaluations. Greater coordination would be desirable also on financial sector stabilization and fiscal stimulus, but, given the experience of the last four months, this weekend is likely to be little more than a chance for leaders to compare notes on their individual efforts on both fronts. So it is on protectionism that we should look for the strongest commitment—or the greatest disappointment. Failure to agree on a strong commitment to uphold free trade would undermine the G7’s leadership, and their political stature might appear to shrink as fast as their economies.
European growth data released today have brought a humbling lesson for policymakers who had boasted of the eurozone’s resilience and lack of imbalances, and who now look at the gloomy US prospects with grave concern and no longer with shadenfreude. Eurozone GDP shrank a worse than expected 1.5% QoQ in Q4, that is just over 6% on an annualized basis—exactly what we expect to see in the US, where the - 3.8% of the preliminary estimate seemed excessively benign. Of the three largest eurozone economies, only France did better than this, with a relatively moderate 1.2% contraction, about 5% annualized. Germany’s growth crumbled, recording a 2.1% drop QoQ, which is a stunning near-9% drop on an annualized basis. Italy was almost as bad, with a 1.8% drop QoQ, or some 7 ½ % annualized (see chart on the next page).
While Q4 was most likely the nadir, and the contraction now appears to be losing speed, the economic and social consequences of this dramatic downturn could prove extremely disruptive. US unemployment has already jumped by nearly 2 percentage points in the last six months, the fastest pace of deterioration in the last 35 years, and it will probably climb further to about 9%. Structural rigidities are slowing the adjustment and cushioning the blow in the eurozone, but there as well unemployment will rise significantly and climb back into double digits by next year.

Forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD

 Forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD


EURUSD




http://img57.imageshack.us/img57/2846/eurusdw1oz6.gif - weekly



GBPUSD


http://img57.imageshack.us/img57/3723/gbpusdd1kt3.gif - daily
http://img213.imageshack.us/img213/8651/gbpusdw1nq0.gif - weekly



USDJPY


http://img403.imageshack.us/img403/1916/usdjpyd1eg3.gif - daily

Forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD

EURUSD




http://img57.imageshack.us/img57/2846/eurusdw1oz6.gif - weekly



GBPUSD


http://img57.imageshack.us/img57/3723/gbpusdd1kt3.gif - daily
http://img213.imageshack.us/img213/8651/gbpusdw1nq0.gif - weekly



USDJPY


http://img403.imageshack.us/img403/1916/usdjpyd1eg3.gif - daily

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#2   08-07-2007, 08:11 PM

PICASSO Member   Join Date: Aug 2007 Posts: 33

Forecasts from 08.08.07 EURUSD http://img211.imageshack.us/img211/3162/eurd1bq6.gif - daily http://img237.imageshack.us/img237/9714/eurw1mz0.gif - weekly http://img235.imageshack.us/img235/9689/eurmnfs1.gif - monthly GBPUSD http://img235.imageshack.us/img235/8765/gbpd1zc5.gif - daily http://img235.imageshack.us/img235/8673/gbpw1xw5.gif - weekly USDCHF http://img120.imageshack.us/img120/2284/chfd1hu1.gif - daily http://img232.imageshack.us/img232/4276/chfwxx9.gif - weekly USDJPY http://img120.imageshack.us/img120/2426/jpydlk8.gif - daily USDCAD http://img232.imageshack.us/img232/2131/cadhno8.gif - h4 http://img120.imageshack.us/img120/1935/caddow5.gif - daily GOLD http://img120.imageshack.us/img120/4342/goldhve0.gif - h4 http://img232.imageshack.us/img232/3140/goldd1sb7.gif -daily http://img120.imageshack.us/img120/1328/goldwxa7.gif -weekly DOLLAR INDEX http://img232.imageshack.us/img232/2332/dxyh4bt7.gif - h4 http://img232.imageshack.us/img232/2332/dxyh4bt7.gif - daily http://img232.imageshack.us/img232/9847/dxyw1eb3.gif - weekly

Passage of Obama's Stimulus Could Drive the US Dollar Down

In the face of a steady rush of bad news coming out of the US, the Dollar has strengthened considerably against major world currencies over the past two months. If you take a look beyond our borders, you'll see that the economic crisis is indeed world-wide. The adage is: When the US catches a cold, the world ends up with the flu.

Watch our video special report: Mortgage rates and the 10-year yield
EUR/USD (:EUR-USD) Intraday | 3 Month | 6 Month | 1 Year Data as of 02/05/09 07:56 PM EDT Last Trade $1.28 Change (%) 0.00 (0.00%) High 1.28 Low 1.28 Volume 0 Exchange Quotes delayed at least 20 mins.

So despite an ailing economy, rock-bottom interest rates and a banking industry on the brink, the US Dollar (USD) has been attractive enough to foreign investors to gain back some value it had lost over the past five years. The dollar has traditionally been a safe-haven of sorts when world economic conditions are shaky.

But don't expect that to continue if President Barack Obama's $900 billion stimulus package gets the thumbs up from Congress. Passage of the bill would make the greenback less attractive than other major currencies in a whirl-wind world economy.

Congressional Democrats, at the push of Pres. Obama, have a bill in voting stages to spend another $900 billion to stimulate the flailing American economy (Can you expect this new stimulus to help? Read about the Broken Window Fallacy for more).

Should this pass, it may be a major enough factor to disrupt the current trend of the US dollar against the other major world currencies. Flooding an economy with large amounts of debt drives treasury bond prices down, and could trigger an exodus from US bonds as a safer investing instrument.

Fed Currency Swaps Look Good for the USD

by John Jagerson

The Fed told the world yesterday that they would be extending the currency swap facilities and issuing more USD through the arrangements to most of the worlds largest central banks. A swap is an agreement in which the Fed trades US Dollars for an equivalent value of the other central bank's currency. For example, the Fed may trade $20 billion for 23 billion Swiss francs at today's exchange rate. Why would the Fed do this and what does it mean for the value of the dollar versus the other majors?

EUR/USD (:EUR-USD) Intraday | 3 Month | 6 Month | 1 Year Data as of 02/05/09 07:56 PM EDT Last Trade $1.28 Change (%) 0.00 (0.00%) High 1.28 Low 1.28 Volume 0 Exchange Quotes delayed at least 20 mins.

Trading currency like this is supposed to increase the supply of dollars so that other central banks can auction and distribute them to their own commercial banks. Increasing the supply of dollars should help ease the credit market in these other countries.

This is needed because many commercial transactions around the world are done in dollars rather than the domestic currency so the supply of dollars is a critical component in running a smooth economy. The Fed's actions are largely seen as being very supportive for stimulus plans taking shape around the world and in the U.S. itself.

The injection of dollars in exchange for foreign currency is also very supportive from a fundamental perspective for the USD itself. The dollar has been strengthening in recent months and has begun to channel in a consolidation over the last few weeks. The signal here is that there is still strong demand for USD, which can help traders think about what direction they should be looking for trades.

Trend Riders3 ระบบเทรดส่ง Signal บอกจุดกลับตัว

Ultimate Trend Rider and Reversal 3

Trend Riders3 เป็นระบบเทรดส่ง Signal บอกจุดกลับตัว (ใช้ได้กับทุกคู่สกุล และทุก Time Frame)

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http://www.forex-tsd.com/manual-trading-systems/15645-5minbluetrs-what-you-think-17.html

* Tips For Trading : แนะนำให้ดู กราฟ ช่วงตลาดยุโรปเปิด คือ เริ่มตั้งแต่เวลาบ่ายโมงของประเทศไทย

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" DEMO it first , observe and Learn The System and You find a lot of Good Trades everyday for any pairs - can be used in any timeframe "

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USD/JPY 05/02/2009

USD/JPY

The USDJPY made another indecisive movement and a Doji formation on daily chart yesterday. The major bearish scenario remains intact, but we have a triangle formation on 4h chart indicating a consolidation phase. A break from the triangle should give us a clearer direction. The bias is neutral in nearest term. Immediate resistance is seen at 89.90. Initial support at 88.80. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

    * S1= 88.83
    * S2= 88.35
    * S3= 87.88
    * R1= 89.78
    * R2= 90.25
    * R3= 90.73

USD/JPY 06/02/2009

USD/JPY

After breakout to the upside from triangle formation yesterday, the USDJPY had a nice bullish momentum. The pair topped at 92.23 and closed at 91.11. On 4h chart below we can see that the price is now testing the trend line resistance but at the same time CCI in overbought area and heading down suggesting a potential downside pullback. The bias is bullish in nearest term but neutral in longer term. Immediate support is seen at 90.35. Initial resistance at 91.50 followed by 92.23 (yesterday's high).

USDJPY Daily Supports and Resistances:

    * S1= 89.47
    * S2= 87.83
    * S3= 86.45
    * R1= 92.49
    * R2= 93.87
    * R3= 95.51

protect my Winning

This is My first Post, I´ve been reading this forum, and others and mixing some indicators and Systems Trying to find something confortable and Profitable. So far this Mixed System I ´m using is doing Great. In this trade today I made 60 Pips, could had been 100 +, But I got Nervous and Afraid And Wanted to protect my Winning so I got Out with 60 pips. Anyway I Still a Newbie.



I cant post an image bigger than this, Please tell me how.


I want suggestion, critics, anything from the more experienced traders. WHAT you GUYS THINK ????? If you guys like it I may compile and post the indicators and template.

Thanks and Good trading to ALL. Sorry for my bad English.

GBP/USD 06/02/2009

GBP/USD

After indecisive movement on Wednesday, yesterday GBPUSD had a significant bullish momentum. After break the 1.4577 resistance, the pair made further bullish move, topped at 1.4702 and closed at 1.4625. The Fibonacci retracement study below show that the pair is at critical phase, testing 23.6 % at 1.4718 area. Break above that area could trigger further strong bullish momentum. The bias remains bullish in nearest term and neutral in longer term. However, CCI in overbought area and heading down on 4h chart suggesting a potential downside pullback testing 1.4577 and 1.4500 support area. Eyes on US NFP data today.

GBPUSD Daily Supports and Resistances:

    * S1= 1.4426
    * S2= 1.4228
    * S3= 1.4090
    * R1= 1.4762
    * R2= 1.4900
    * R3= 1.5098

Good luck

FTSE eases as HSBC leads banks lower; oils gain

* HSBC falls on concerns of capital hike, dividend cut
* Firmer crude prices lift oil producers
* FirstGroup sinks after it sees revenue slide at Greyhound
* Man Group off after funds under management fall

By Dominic Lau
LONDON, Jan 14 (Reuters) - Britain's leading share index slipped early on Wednesday as heavyweight HSBC (HSBA.L) fell on concerns of capital increase and dividend cut though oil producers boosted by firmer crude lent support.
By 0844 GMT, the FTSE 100 .FTSE was down 40.98 points, or 0.9 percent, at 4,358.17, on course for extending its losses to a sixth straight session. The UK benchmark is down 1.7 percent so far this month and had fallen more than 31 percent last year, its worst annual drop since its launch in 1984.

FTSE slides 2 pct as banking woes intensify

* Banks push FTSE 100 down 2 pct
* Barclays announces further job cuts, HSBC falls
* Miners down as metal prices fall

By Phakamisa Ndzamela
LONDON, Jan 14 (Reuters) - Britain's blue-chip shares fell 2 percent by midday on Tuesday, with financials weighing heavily, as capital raising concerns at HSBC and job losses at Barclays threw a spotlight on the ailing banking sector.
Banks faltered after Morgan Stanley said HSBC (HSBA.L), Europe's biggest bank, may have to raise as much as $30 billion in capital and halve its dividend.
By 1209 GMT, the FTSE 100 was down 88.41 points at 4,130.74. The UK benchmark is down 2.8 percent so far this month and fell more than 31 percent last year, its worst annual drop since its launch in 1984.
Morgan Stanley said HSBC's earnings will fall this year and its relative capital position is not as strong as in the past. [ID:nLE245760]
"The HSBC news is a catalyst for more selling," said John Prior, an associate director of market strategy at Killik & Co.
"The situation is a big concern. We are telling our clients to come out of HSBC at the moment. We just think with this issue hanging around there's not much upside for the price," Prior added.
Barclays was the biggest loser among banks on the FTSE 100 down 11.7 percent after announcing a further 2,100 job cuts to add to the 2,500 job losses announced on Tuesday. [ID:nWLA4976]

FTSE 100 hit by banks to close 5 pct lower

* FTSE 100 slides 5 pct, lowest close for over a month
* Banks hammered on credit outlook, sector down 10 pct
* Miners, oils down as commodity prices fall

By Simon Falush
LONDON, Jan 14 (Reuters) - Britain's blue-chip shares tumbled 5 percent to their lowest close in over a month on Wednesday led by financials which were thumped on anxiety over their balance sheets.

HK shares snap 6-day slump but HSBC weighs down index

* HK shares turn course after six-day slide
* China banks recover after RBS sells stake in BOC
* HSBC drops after broker cuts profit estimate,target price
(Updates to close)
By Parvathy Ullatil
HONG KONG, Jan 14 (Reuters) - Hong Kong shares pared early gains to finish 0.3 percent higher after a sharply lowered target price and earnings estimates on HSBC Holdings sent shares in Europe's top bank to their lowest in more than seven years.
Index heavyweight HSBC (0005.HK) tanked 4.1 percent to HK$70, even slipping below that level at one point earlier Wednesday, after Morgan Stanley cut its target price by 31 percent to HK$52.
The U.S. investment bank cut its profit estimate for the British-based lender by 17 percent for 2008 and 39 percent for 2009 and expects the bank to halve its dividend. Morgan Stanley also predicts a $20 billion to $30 billion capital need at HCBC.
"If HSBC cut its dividend by half, its dividend yield will fall to 5 percent from 10 percent and given the bank's huge exposure to UK and U.S. market, 5 percent yield is not attractive any more," said Steven Leung, director with UOB Kay Hian.
"If the stock can't recover to HK$72 or HK$73 by tomorrow the situation can get pretty ugly."
Slumping HSBC shares offset gains in Chinese banking counters after the third equity selldown in a major lender this year eliminated some of the overhang on the sector. [ID:nHKF079859]
The benchmark Hang Seng Index .HSI closed 36.56 points higher at 13,704.61, snapping a six-day slide, its longest since September 2008.
But the index finished well off its early highs as HSBC extended losses in the afternoon session, dragging down with it shares in local arm Hang Seng Bank (0011.HK) which fell 4 percent.
Mainboard turnover rose to HK$66.2 billion ($8.5 billion) from HK$47.3 billion on Tuesday. The China Enterprises Index .HSCE of top mainland firms outperformed, climbing 2 percent to 7,219.04.
CHINA BANKS OUTPERFORM

HK shares to open down 4.2 pct at 7-week low

HONG KONG, Jan 15 (Reuters) - Hong Kong shares will open 4.2 percent lower at a seven-week low on Thursday with concerns over earnings at banks slamming heavyweight HSBC (0005.HK) again after the stock hit a seven-year low the previous session.
HSBC is set to open 5 percent lower at HK$66.50, still reeling from a Morgan Stanley report that cut its earnings estimates and target price and warned that the UK-based lender may need $20 billion to $30 billion to shore up its capital.
The Hang Seng Index .HSI will open 568.38 points lower at 13,136.23.
Concerns over steep losses this year and signs of a mounting recession beat down stocks across the board with only 11 of the total 1,097 issues traded set to open higher on Thursday.
China Enterprises Index .HSCE of top locally listed mainland firms is indicated to open down 5 percent at 6,860.98. (Reporting by Parvathy Ullatil; Editing by Nick Macfie) (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))
ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS]
OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU]
DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary
[WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts EQUITYPOLL1
TOP NEWS:
For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data ASIATODAY A multimedia version of Reuters Top News is available at:
LIVE PRICES & DATA: World Stocks <0#.INDEX> Currency rates Dow Jones/NASDAQ .DJI .IXIC Nikkei .N225 FTSE 100 .FTSE Debt <0#USBMK=> EURIBOR Hong Kong Dollar LME price overview

HK shares trim gains to 0.3 pct as HSBC slides

HONG KONG, Jan 14 (Reuters) - Hong Kong shares pared early gains to finish slightly higher after a sharply lowered target price and earnings estimates on HSBC Holdings sent shares in Europe's top bank to their lowest in more than seven years.
Index heavyweight HSBC (0005.HK) tanked more than 4 percent at one point on Wednesday after Morgan Stanley cut its target price by 31 percent to HK$52.
Slumping HSBC shares offset gains in Chinese banking counters after the third equity selldown in a major lender this year eliminated some of the overhang on the sector. [ID:nHKF079859]
The benchmark Hang Seng Index .HSI unofficially closed 0.3 percent or 34.95 points higher at 13,703.00, snapping a six day slide. The index finished well off its early high of 14,019.03
The China Enterprises Index .HSCE of top mainland firms outperformed, climbing 2 percent to 7,224.08.
(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner) (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))
ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS]
OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU]
DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary
[WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts EQUITYPOLL1
TOP NEWS:
For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data ASIATODAY A multimedia version of Reuters Top News is available at:
LIVE PRICES & DATA: World Stocks <0#.INDEX> Currency rates Dow Jones/NASDAQ .DJI .IXIC Nikkei .N225 FTSE 100 .FTSE Debt <0#USBMK=> EURIBOR Hong Kong Dollar LME price overview

HK shares snap six days slump; China banks rally

* HK shares turn course after six day slide
* China banks recover after RBS sells stake in BOC
* HSBc drops after broker cuts profit estimate,target price
(Updates to midday)
By Parvathy Ullatil
HONG KONG, Jan 14 (Reuters) - Hong Kong shares were on course to end a six-day losing spell on Wednesday, rising 1.4 percent, with Chinese banks outperforming after an equity selldown in Bank of China (3988.HK) eliminated an overhang on the sector.
However index heavyweight HSBC Holdings (0005.HK) fell 2.3 percent to HK$71.3, its lowest level since after the September 11, 2001 attacks on the United States, following a Morgan Stanley report that slashed its target price to HK$52.
The U.S. investment bank cut its profit estimate for the UK-based lender by 17 percent for 2008 and 39 percent for 2009 and said HSBC may have to raise $20 billion to $30 billion to shore up its capital.
The benchmark Hang Seng Index .HSI ended the morning session 194.99 points higher at 13,863.04 after a six day slide, its longest since September, 2008.
Mainboard turnover rose to HK$43.8 billion ($5.6 billion) as compared with HK$25 billion by midday Tuesday.
"Most markets in Asia Pacific have moved up today on hopes that Tuesday's mixed performance on Wall Street indicates the market has hit a bottom after a five day fall," said Andrew To, sales director with Taifook Securities.
"If the HSI can hold above 13,800 points for a few days, it should form a good support and trigger short covering. We may rechallenge 15,000 points around Chinese New Year," he said.

HK shares snap 6-day slump but HSBC weighs down index

* HK shares turn course after six-day slide
* China banks recover after RBS sells stake in BOC
* HSBC drops after broker cuts profit estimate,target price
(Updates to close)
By Parvathy Ullatil
HONG KONG, Jan 14 (Reuters) - Hong Kong shares pared early gains to finish 0.3 percent higher after a sharply lowered target price and earnings estimates on HSBC Holdings sent shares in Europe's top bank to their lowest in more than seven years.
Index heavyweight HSBC (0005.HK) tanked 4.1 percent to HK$70, even slipping below that level at one point earlier Wednesday, after Morgan Stanley cut its target price by 31 percent to HK$52.
The U.S. investment bank cut its profit estimate for the British-based lender by 17 percent for 2008 and 39 percent for 2009 and expects the bank to halve its dividend. Morgan Stanley also predicts a $20 billion to $30 billion capital need at HCBC.
"If HSBC cut its dividend by half, its dividend yield will fall to 5 percent from 10 percent and given the bank's huge exposure to UK and U.S. market, 5 percent yield is not attractive any more," said Steven Leung, director with UOB Kay Hian.
"If the stock can't recover to HK$72 or HK$73 by tomorrow the situation can get pretty ugly."
Slumping HSBC shares offset gains in Chinese banking counters after the third equity selldown in a major lender this year eliminated some of the overhang on the sector. [ID:nHKF079859]
The benchmark Hang Seng Index .HSI closed 36.56 points higher at 13,704.61, snapping a six-day slide, its longest since September 2008.
But the index finished well off its early highs as HSBC extended losses in the afternoon session, dragging down with it shares in local arm Hang Seng Bank (0011.HK) which fell 4 percent.
Mainboard turnover rose to HK$66.2 billion ($8.5 billion) from HK$47.3 billion on Tuesday. The China Enterprises Index .HSCE of top mainland firms outperformed, climbing 2 percent to 7,219.04.
CHINA BANKS OUTPERFORM
(3988.H Beijing-controlled Bank of China K) rose 2.7 percent after Royal Bank of Scotland (RBS.L) sold $2.4 billion worth of shares, its entire holding in China's No.2 lender

HK shares seen lower on earnings worries; autos eyed

HONG KONG, Jan 15 (Reuters) - Hong Kong shares are seen
lower on Thursday with concerns over earnings at banks driving
down HSBC (0005.HK) again after the stock hit a seven-year low
in the previous session.

A Morgan Stanley earnings downgrade sent HSBC shares
tumbling 4.1 percent in Hong Kong and 8 percent in London. The
U.S. investment house said the UK-based lender may need $20
billion to $30 billion to shore up its capital.

Worries about steep losses at banks worldwide and poor
retail sales data also sent U.S. stocks to six-week lows on
Wednesday.

Investors will watch refinery stocks after China, in a
surprise move, decided to trim gasoline and diesel prices by a
few percent on Thursday. This is the first adjustment since
bringing in a new fuel price system last month, a reform that
could see pump prices change much more frequently.

The latest change will cut gasoline price ceilings by 140
yuan ($20.48) per tonne and diesel price ceilings by 160 yuan
($23.41) per tonne from midnight on Wednesday.

The Hang Seng Index .HSI ended Wednesday 0.3 percent
higher at 13,704.61, snapping a six-day slide that wiped out
gains made in its year-end rally.

STOCKS TO WATCH

* Chinese automobile stocks will be eyed after China
unveiled a wide-ranging plan to boost the domestic auto
industry, including halving the sales tax on small cars and
subsidies to encourage car owners to trade their old models for
newer, fuel-efficient ones.

The government said it favoured consolidation of the
sprawling industry and would promote mass production of
electric-powered vehicles.

* Pou Sheng International, a sportswear retailing arm of
Yue Yuen Industrial (0551.HK), said on Thursday it planned to
expand its store network in China via a deal worth about HK$793
million ($101.7 million).

Pou Sheng (3813.HK) said it would buy the 70 percent of
Farsighted International Ltd (FIL) not already owned by the
firm for HK$428.6 million in cash and the issue of 393.6
million new shares at HK$0.925 each.

* China Southern Airlines (600029.SS), the country's
largest carrier by fleet size, estimated on Wednesday that it
would report a loss for 2008.

In a brief statement, the airline cited the slowdowns in
the global and Chinese economies, which cut traffic demand, as
well as high domestic fuel prices during the year.

China Southern, which posted net profit of 1.85 billion
yuan ($271 million) in 2007, will release 2008 earnings in
mid-April. -------------MARKET SNAPSHOT @ 00:11 GMT
-----------------------

INSTRUMENT   LAST     PCT CH GNET CHG

S&P 500           .SPX       842.62  -3.35%  -29.170

USD/JPY                  89.16    0.17%   0.150

10-YR US TSY YLD    2.206    --      0.000

SPOT GOLD                $812.45  0.23%   1.900

US CRUDE          CLc1       $37.23  -0.13%  -0.050

DOW JONES         .DJI       8200.14 -2.94%  -248.42

ASIA ADRS         .BKAS      87.99   -3.22%  -2.93
 -------------------------------------------------------------
> Wall Street falls on bank anxiety, Apple down after bell 
[.N] > Oil falls on U.S. stock build, weak demand             
 [O/R] > TREASURIES-Prices up as weak retail sales send stocks
down[US/] > Euro down on Greece downgrade, risk appetite fades

[USD/] > Gold falls on weak demand, dollar rise; ECB eyed

[GOL/]
 (Reporting by Parvathy Ullatil; Editing by Clarence
Fernandez)
 (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))

ASIA-PACIFIC STOCK MARKETS:
 Pan-Asia......[STXNEWS/AS]  Japan........[.T]
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Taiwan.....[.TW]
 Australia/NZ.........[.AX]  India.......[.BO] China......[.SS]

OTHER MARKETS:
 Wall Street...........[.N] Gold.........[GOL/]
Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R]
JP bonds...[JP/]
 ADR Report..........[ADR/] LME metals..[MET/L] US
bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News
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earnings diary [ASIA/EQTY] U.S. earnings diary  [RESF/US]
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[.N/O]
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ASIATODAY

HK shares to open down 4.2 pct at 7-week low

HONG KONG, Jan 15 (Reuters) - Hong Kong shares will open 4.2 percent lower at a seven-week low on Thursday with concerns over earnings at banks slamming heavyweight HSBC (0005.HK) again after the stock hit a seven-year low the previous session.
HSBC is set to open 5 percent lower at HK$66.50, still reeling from a Morgan Stanley report that cut its earnings estimates and target price and warned that the UK-based lender may need $20 billion to $30 billion to shore up its capital.
The Hang Seng Index .HSI will open 568.38 points lower at 13,136.23.
Concerns over steep losses this year and signs of a mounting recession beat down stocks across the board with only 11 of the total 1,097 issues traded set to open higher on Thursday.
China Enterprises Index .HSCE of top locally listed mainland firms is indicated to open down 5 percent at 6,860.98. (Reporting by Parvathy Ullatil; Editing by Nick Macfie) (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))
ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS]
OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU]
DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary
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For top Asian company news, double click on: [nTOPEQA] U.S. company news [TOP/EQU] European company news [TOP/EQE] Forex news [TOP/FRX] Global Economy news [TOP/MACRO] Technology news [TOP/TECH] Telecoms news [TOP/TELCO] Media news [TOP/MEDIA] Banking news [TOP/FIN] Politics/General news [TOP/G] Asia Macro data ASIATODAY A multimedia version of Reuters Top News is available at:
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HK Hot Stocks-Standard Chartered, China Southern fall

HONG KONG, Jan 15 (Reuters) - By 0245 GMT the Hang Seng Index .HSI had fallen 4.4 percent to 13,098.05.
Concerns over steep losses this year and signs of a mounting recession beat down stocks across the board, with only 49 of the total 1,097 issues traded higher in Thursday morning trade.
The China Enterprises Index .HSCE of top locally listed mainland firms had fallen 4.4 percent to 6,901.05.
Here are some of the stocks on the move in early trade-
* Shares in London-based lender Standard Chartered (2888.HK) (STAN.L) dived 6.6 percent on Wednesday, underperforming other regional banking stocks after Mervyn Davies stepped down as chairman of the Asia-focused bank.
The stock fell to HK$90.60, recovering slightly from the day's low of HK$88.5.
Davies, who led the bank as chief executive from 2001 to 2006 and is credited with playing an important role in restructuring the bank following the setbacks it suffered during the Asian financial crises of 1997-1998, will take up a role as British minister for trade and investment.
"...this is nonetheless an unexpected if not unwelcome development, amidst unsettled markets and uncertain macro outlooks for several of Standard Chartered's key markets," said Goldman Sachs analyst Roy Ramos.
* China Southern Airlines (600029.SS), the country's largest carrier by fleet size, sank 6.2 percent after the air carrier said it estimated it would report a loss for 2008.
The airline blamed its poor performance on the slowdowns in the global and Chinese economies, which cut its passenger volume growth to single digits for the first time in five years, as well as high domestic fuel prices during the year.
In 2007, China Southern posted a net profit of 1.85 billion yuan ($271 million). It is due to release its 2008 earnings report in mid-April. (Reporting by Parvathy Ullatil; Editing by Clarence Fernandez) (parvathy.ullatil@thomsonreuters.com; +852 2843-6415))
ASIA-PACIFIC STOCK MARKETS: Pan-Asia......[STXNEWS/AS] Japan........[.T] S.Korea....[.KS] S.E. Asia............[.SO] Hong Kong...[.HK] Taiwan.....[.TW] Australia/NZ.........[.AX] India.......[.BO] China......[.SS]
OTHER MARKETS: Wall Street...........[.N] Gold.........[GOL/] Currency..[FRX/] Eurostocks...........[.EU] Oil...........[O/R] JP bonds...[JP/] ADR Report..........[ADR/] LME metals..[MET/L] US bonds...[US/] Stocks News US...[STXNEWS/US] Stocks News Europe...[STXNEWS/EU]
DIARIES & DATA: IPO diary & data Asia earnings diary [ASIA/EQTY] U.S. earnings diary [RESF/US] European diary
[WEU/EQTY] Taiwan diary [TW/DIARY] Wall Street Week Ahead [.N/O] Eurostocks Week Ahead [.EU/O] World forecasts EQUITYPOLL1
TOP NEWS

TOPWRAP 2-U.S. bank crisis deepens as ECB rate cut expected

* European Central Bank seen cutting interest rates
* Equity markets slide on bank news and weak data
* Citigroup shares plunge as banking crisis returns
* U.S. govt close to giving Bank of America new aid-source (For more on the global economic crisis, click [nCRISIS])
By Sakari Suoninen and Tetsushi Kajimoto
FRANKFURT/TOKYO, Jan 15 (Reuters) - Bank of America and Citigroup faced fresh turmoil as investors questioned if they had the capital strength to cope with a global crisis that is set to push the European Central Bank to cut rates later on Thursday.
Data across the developed world pointing to a deepening recession and fears that more public money in the United States may be needed to keep banks afloat weighed on financial markets.
Asian equities followed European and U.S. markets to fall to multi-week lows. Tokyo's Nikkei average slipped close to 5 percent after news that Japan's core machinery orders fell at a record pace in November. [ID:nT164777] [ID:nT230571]
Shares in Bank of America (BAC.N) and Citigroup (C.N), two of America's biggest banks, fell as they faced a fresh crisis of confidence over whether they have enough capital to cover haemorrhaging losses from toxic assets and the struggling global economy.
"The large banks in the U.S. are not lending, and they're desperate to conserve capital," said Dan Alpert at Westwood Capital in New York. "Banks only remain going concerns because the federal government is topping up their equity."
The financial crisis began in credit markets in 2007, when bank lending dried up in the face huge losses in the U.S. housing market. The global economy has deteriorated relentlessly since, pushing the biggest developed countries into recession and raising alarm bells over rising job losses.
Citigroup, whose shares dived 23 percent on Wednesday, plans to report quarterly results six days ahead of schedule on Friday and analysts are looking for a fifth straight multibillion-dollar loss. [ID:nN14490234]
The bank was also widely expected to provide details of a reorganisation of the company designed to ensure its survival.
Bank of America is close to receiving billions of dollars of support from the U.S. government, a source familiar with the matter said, as it tries to digest Merrill Lynch & Co Inc, the investment bank and brokerage it bought on Jan. 1.
Merrill has billions in troubled assets -- ranging from commercial real estate to subprime mortgages -- that suffered during a brutal fourth quarter.
Citigroup has already been propped up with $45 billion in government funds from the Troubled Asset Relief Program (TARP), while Bank of America and Merrill have received $25 billion