Day Trading Stocks & Futures

[Raj232]

Is China hiding COVID-19 death toll? 21 million cell phones disappeared, why?

• 21 million cell phone accounts in China were cancelled after coronavirus
• 840,000 landlines were closed in China
• This sudden drop suggests a very high Coronavirus death toll

Since the outbreak of Novel Coronavirus which emerged in China's Wuhan, the pandemic has killed 15,374 people globally and infected 351,731 individuals. Recently the death toll in Italy surpassed the initial epicentre of the outbreak in China, where officially 3,153 people have died due to the COVID-19.

But recently Beijing authorities announced on March 19 that more than 21 million cell phone accounts were cancelled while in past three months 840,000 landlines were closed in China, which gives an idea that probably these closed numbers belonged to the people who died due to the disease.
https://www.ibtimes.sg/china-hiding-covid-19-death-toll-21-million-cell-phones-disappeared-why-41580

 

[TraderRavi]

Modi seeks 'forgiveness' from India's poor over coronavirus lockdown


MUMBAI (Reuters) - Indian Prime Minister Narendra Modi asked the nation’s poor for forgiveness on Sunday, as the economic and human toll from his 21-day nationwide lockdown deepens and criticism mounts about a lack of adequate planning ahead of the decision.

Modi announced a three week-lockdown on Tuesday to curb the spread of coronavirus. But the decision has stung millions of India’s poor, leaving many hungry and forcing jobless migrant labourers to flee cities and walk hundreds of kilometres to their native villages.

“I would firstly like to seek forgiveness from all my countrymen,” Modi said in a nationwide radio address.

The poor “would definitely be thinking what kind of prime minister is this, who has put us into so much trouble,” he said, urging people to understand there was no other option.

“Steps taken so far… will give India victory over corona,” he added.

The number of confirmed coronavirus cases in India rose to 979 on Sunday, with 25 deaths.

The government announced a $22.6 billion economic stimulus plan on Thursday to provide direct cash transfers and food handouts to India’s poor.

In an opinion piece published on Sunday, Abhijit Banerjee and Esther Duflo - two of the three winners of the Nobel Prize in Economics in 2019 - said even more aid for the poor is needed.

“Without that, the demand crisis will snowball into an economic avalanche, and people will have no choice but to defy orders,” they wrote in the Indian Express.

The lockdown is expected to exacerbate India’s economic woes at a time when growth had already slumped to its lowest pace in six years.

MIGRANT CRISIS
There still appears to be broad support for strong measures to avoid a coronavirus catastrophe in India, a country of some 1.3 billion people where the public health system is poor.

But opposition leaders, analysts and some citizens are increasingly criticizing its implementation. In particular, they say the government appears to have been caught off guard by the mass movement of migrants following the announcement, which threatens to spread the disease into the hinterlands.

“The Gov’t had no contingency plans in place for this exodus,” tweeted opposition politician Rahul Gandhi as images of migrant labourers walking long distances to return home dominated local media.

#ModiMadeDisaster was a top trending topic in India on Sunday on social media site Twitter.

Police said four migrants were killed on Saturday when a truck ran into them in Maharashtra. Also on Saturday, a migrant collapsed and died in Uttar Pradesh, according to a police official.


“We will die of walking and starving before getting killed by corona,” said migrant worker Madhav Raj, 28, as he walked by the road in Uttar Pradesh.

On Sunday, several hundred migrants in the town of Paippad, Kerala, gathered in a square demanding transport back to their hometowns.

The central government has called on states to provide marooned labourers with food and shelter, and Modi’s supporters slammed state governments on Twitter for failing to properly implement the lockdown.

In India’s cities, too, anger was rising.

“We have no food or drink. I am sat down thinking how to feed my family,” said homemaker Amirbee Shaikh Yusuf, 50, in Mumbai’s sprawling Dharavi slum.

“There is nothing good about this lockdown. People are angry, no one is caring for us.”

Following is the spread of the coronavirus in South Asia’s eight nations, according to government figures:

* Pakistan has registered 1,526 cases, including 13 deaths.

* India has registered 979 cases, including 25 deaths.

* Sri Lanka has registered 115 cases, including one death.

* Afghanistan has registered 128 cases, including 3 deaths.

* Bangladesh has registered 48 cases, including 5 deaths.


* Maldives has registered 28 cases and no deaths.

* Nepal has registered 5 cases and no deaths.

* Bhutan has registered 4 cases and no deaths.



https://in.reuters.com/article/heal...-poor-over-coronavirus-lockdown-idINKBN21G0AC

 

[TraderRavi]

A comparison of the 2000 tech bubble, the financial crisis of 2008 and the 2020 Coronavirus crash

Investors fear that the supply chain disruption will squeeze liquidity out of the system and pop the numerous bubbles - the global equity and debt market, tech start-ups, real estate and shale energy - that have developed in the last decade.



The Tech bubble of 2000

The Tech bubble or dotcom bubble was fuelled by the adoption and initial penetration of the internet in the late 1990s. Tech companies went public through IPOs in an attempt to capitalize on heightened investor demand. Traditional metrics of performance (such as net profits) were overlooked and new metrics (number of website visitors, size of the market etc.) were introduced to justify the inflated stock prices. Investors flocked to buy internet-based companies and equity valuations soared amidst the market euphoria. In Feb-March 2000, Wipro and Infosys were trading at astronomical valuations of 300-400 times earnings.

But then, a slowdown in the US led to customers tightening their budgets, the smart investors cashed out and the S&P500 index lost nearly 50 percent of its value in the next 2 years. Silicon Valley went into a deep hole as 2 million people working in the technology sector lost their jobs. Between 2000 and 2003, the Federal Reserve reduced the benchmark US interest rates aggressively from 6 percent to below 2 percent to alleviate the interest burden and support the revival of the economy.

The financial meltdown of 2008

The global financial crisis of 2008 was arguably the worst financial crisis in recent history and had its origins in the housing market. The bursting of the tech bubble drove interest rates lower in US market. The real estate market started booming in 2002-03 and home prices soared on the back of cheap mortgage debt (which was a fallout of the tech bubble). Amidst the credit boom, banks offered home loans to people with little or no spending power. This led to an asset bubble, which ultimately collapsed in 2007-09 as borrowers were unable to make monthly mortgage payments and lenders were forced to sell their properties to recover the losses. The market was flooded with sellers, which led to a steep decline in housing prices. Around 8-9 million people lost their jobs in the US as the entire real estate value chain - encompassing home builders, construction workers, building material companies and lenders-- suffered a complete collapse.

The collapse of the housing market had a cascading effect on banks selling mortgages and the entire financial sector which had sliced, diced, repackaged and sold poor-quality mortgages and other toxic loans. Lehman Brothers went bankrupt and stock markets tanked 60 percent. Central banks and governments across the world had to intervene to fix the broken financial system through bailouts and asset purchases.

The dual crisis of 2020

The world is currently facing a "dual crisis" which includes both public health and the economy. The current crisis is not restricted to a sector or a region unlike the ones in 2000 or 2008. The global financial meltdown was driven by a housing bubble in US - which exposed the fragility of the overall financial system. The core issue in 2020 is the virus – which appears very difficult to control without causing economic damage.

The current problem is very different from earlier crises as it is impacting supply as well as demand across sectors. Investors fear that the supply chain disruption will squeeze liquidity out of the system and pop the numerous bubbles - the global equity and debt market, tech start-ups, real estate and shale energy - that have developed in the last decade. The broad market sell-off over Covid-19 fears is a lot like the 2008 financial crisis and 2000 dot-com bubble bust combined.

The Covid-19 outbreak has stalled economic activity across the globe. With production plants being shut and people being forced to stay indoors, there is not much that the central governments can do to stimulate demand or the supply. The markets continue to sell-off despite multiple fiscal and monetary announcements by central banks. Policy measures such as quantitative easing and asset purchases are not helping assuage the concerns of entrepreneurs or investors as the supply chains have been disrupted, the economic linkages have been broken and lack of cash flows has exposed the financial vulnerabilities of corporates – which now pose a systemic risk to the overall stability of the global economy.

Given the current situation, economies are staring at huge jobs losses. The situation is extremely precarious as travel and tourism (hotels, restaurants, airlines etc.) together contribute around 15 percent of the workforce in the US alone and 8-9 percent of the world GDP. Unemployment will rise drastically as these sectors are shut completely and it will take at least 4-6 months to move back to normalcy.

Is it worse than 2008?

In the last 80 years, world GDP has contracted just once (by 1.8 percent) during 2009 owing to the financial crisis in previous year. The current shock is expected to be much deeper as most countries are undergoing complete lockdowns for periods ranging 15-45 days. The world output could reduce by 4 percent assuming a shutdown of 15 days. Trade & travel bans, slowdown in consumer spending, job losses and liquidity crunch would lead to further shrinkages. The resulting contraction could, therefore, be in the range of 8-10 percent – which indicates that the global GDP is heading towards a deep recession.

Last year, we had forewarned our investors to go defensive - owing to elevated valuations and possibility of US recession in 2020. With Covid-19, our worst fears have come true.

It now seems inevitable that the world will have an intense global recession, led by a disappearance of both demand & supply and a collapse in labour markets. The world is indeed staring at a dual crisis, the magnitude of which is multi-fold in comparison to the previous two shocks witnessed during 2000 and 2008.

https://www.moneycontrol.com/news/b...8-and-the-2020-coronavirus-crash-5085001.html

 

[TraderRavi]

Abbotindia 20% UC. may be due to new virus test kit.

 

[TraderRavi]

Banknifty just missed touching 15 EMA

 

[travi]

Abbot india +20% portf wale mala mal

 

[primitivetrader]

 

[traderhardrock]

BNF
may touch 18600/500 on staying below 19200
just my view

ltp 19259

 

[moneymanager1980]

Is China hiding COVID-19 death toll? 21 million cell phones disappeared, why?

• 21 million cell phone accounts in China were cancelled after coronavirus
• 840,000 landlines were closed in China
• This sudden drop suggests a very high Coronavirus death toll

Since the outbreak of Novel Coronavirus which emerged in China's Wuhan, the pandemic has killed 15,374 people globally and infected 351,731 individuals. Recently the death toll in Italy surpassed the initial epicentre of the outbreak in China, where officially 3,153 people have died due to the COVID-19.

But recently Beijing authorities announced on March 19 that more than 21 million cell phone accounts were cancelled while in past three months 840,000 landlines were closed in China, which gives an idea that probably these closed numbers belonged to the people who died due to the disease.
https://www.ibtimes.sg/china-hiding-covid-19-death-toll-21-million-cell-phones-disappeared-why-41580

if that is case we know what is comming ..

 

[iwillwin]

sl uda Gaya, due to very high volatility how does one wait for candle close in nifty