A rebound in retail sales and strong jobs reports pushed stocks near their highest levels of the year.
Investors have been concerned that high gas prices would constrain consumer spending as people looked for ways to save money. The higher sales figures reassured markets that consumers were becoming more willing to spend again.
An improving job market likely helped. The number of people who made first-time claims for unemployment benefits dropped last week to a seven-week low of 418,000, the government reported. That's a sign that employers are laying off fewer workers.
MacGyver, u have been buying in the past 5 months (since this thread began)? Anyone has been bargain hunting? If so, what stocks ah? I am crossing my fingers that a year-end rally / start of year rally will materialise.
Its Q3 result really surprised me.... not profitable.
"The Group is now operating in a very challenging environment. With the uncertainty over the European debt crisis, a slowdown in the U.S and European economies, the Group will operate cautiously over the course of the next 12 months. Any impact on the major economies will affect its export demand. In addition, the PRC government’s effort to tighten credit to manage the high inflation has affected many enterprises and may affect its economic growth. All these in turn will affect the demand for the Group’s zipper products.
The Group will continue to be cautious in dealing with existing and new customers, and shall step up its review and collections of outstanding debt. The Group shall also reduce its discretionary costs across all operations."
i used to hv bought fuxing be4 but sold long time ago last yr.
did not attend any of its latest briefing. But i wonder if there is really a need to have a building? isn't that an extravagant spending? Can't they just rent a building?
the management shld be open and justify why they have to do that.
anyway, with rising labour costs, be it in China or Singapore, i'll avoid stocks with businesses that rely on too many labour and prefer to focus on stocks that focuses on design and brand building. tat's one of the reasons i sold all of fx away in 2010.
Ya, indeed extravagant esp at a time like this. I am just trying to illustrate the apathy of retail investors re attending company meetings. As I have a working background in factories etc , I never like pure factory plays like this as they only know how to build more production facilities in order to increase profits, eventually creating oversupply.
Eg They have to sell the zippers to (A) garment factories which in turn have to sell to ( branded distributors before reaching the end users. Biz cycles are getting shorter these days, and during a downturn ( will squeeze (A) which will in turn squeeze Fuxing though it still has to carry the same factory overheads.
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branded distributors before reaching the end users. Biz cycles are getting shorter these days, and during a downturn (