Posts Tagged ‘South Korea’

North Korea Resumes War Threats as South Stages Drills – NYTimes.com

HONG KONG — North Korea, breaking from the restraint it showed this week during military exercises by the South, said Thursday that it was prepared to use its nuclear weapons if it was attacked.

The North is “fully prepared to launch a sacred war,” Minister of the People’s Armed Forces Kim Young-chun said in comments carried by the North’s official Korean Central News Agency and quoted by Western news media. North Korea’s comments are typically bellicose, but they had been low-key this week as South Korea staged military exercises across its territory.

On Monday, the South staged live-fire artillery drills on Yeonpyeong Island, which was shelled by the North’s artillery on Nov. 23. Four South Koreans were killed. North Korea claims the waters around Yeonpyeong and disputes the maritime border known as the Northern Limit Line.

Continue reading here: North Korea Resumes War Threats as South Stages Drills – NYTimes.com.


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Tensions Mount in Asia; North Korea Prepares for Combat; South Korea Won Sinks to 8-Month Low

Tensions Mount in Asia; North Korea Prepares for Combat; South Korea Won Sinks to 8-Month Low; Futures Sink, Nikkei Hammered Again

Courtesy of Mish 

Smack in the midst of a "global recovery" tensions are heating up in Asia. Please consider Kim Jong II Orders Military to Get Ready for Combat

North Korean leader Kim Jong II ordered the country’s military to get ready for combat in a message televised nationwide last week following South Korea’s announcement that North Korea torpedoed the South’s warship.

South Korea’s President Lee Myung Bak said yesterday the country will push for United Nations censure against North Korea for the March 26 sinking of a naval ship, which killed 46 sailors. A multinational team concluded on May 20 that North Korea fired a torpedo to split apart the 1,200-ton Cheonan.

Tensions are rising in the Korean peninsula following the report, with both sides threatening counter-measures should they come under attack. South Korea plans to define North Korea as its “main enemy” when it maps out military strategy, Yonhap reported today, citing a government official it didn’t identify.

South Korea’s Won Sinks to 8-Month Low

Inquiring minds may be interested to note South Korea’s Won Sinks to 8-Month Low on Tensions With North.

South Korea’s won slumped to an eight-month low on growing hostilities with the North over the sinking of one of the South’s warships with the loss of 46 lives.

The U.S. yesterday announced plans to conduct joint anti- submarine exercises with South Korea as “a result of the findings of this recent incident.” Japan will consider imposing financial sanctions on North Korea, Finance Minister Naoto Kan said at a news conference in Tokyo today.

“We won’t see the bottom of this fall until we hear some good news on North Korea,” said Cho Hyun Seok, a currency dealer at Kookmin Bank in Seoul. “The won’s exchange rate can go as high as 1,260 won per dollar.”

The military exercises are among steps the U.S. and South Korea are pursuing, including possible further United Nations sanctions, in response to the March sinking of the 1,200-ton Cheonan. The U.S. and South Korea say evidence shows the explosion was caused by a North Korean torpedo.

Asian Stocks Fall to 10-Month Low, Won Dives, Commodities Drop 

Please consider Asian Stocks Fall to 10-Month Low, Won Dives, Commodities Drop

The MSCI Asia Pacific Index


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A Look At Some of the Asian Markets

A Look At Some of the Asian Markets

Courtesy of Binve at Market Thoughts and Analysis

…. And it ain’t pretty.

The Shanghai Stock Market (via the SSEC) has been speculation central. It is one of the biggest casinos out there right now. But like any streak in Blackjack where you leave your winnings on the table when the cards are finally going your way, the smart players know to take some of it off the action and back into your bankroll. … because the house always wins eventually.

And like with any speculative endeavor, you only make money if you find somebody to buy it off you at a higher price: baseball cards, Tiffany lamps, Mark Rothko’s (yeesh), Houses, or shares of Stock.

It looks to me like the smart money has already cashed out and is enjoying a nice meal at Carnevino. Everybody else is still at the table because all the economists are saying recession is over, the world is in recovery!

So while SSEC is the real casino (and potential canary in the coal mine), the HSI is a bit less erratic / correlates a bit closer to the rest of the world’s markets. But it is still very much tied to the Chinese and Hong Kong economies.

So a very interesting observation presents itself: ….. The HSI is not making new highs with the rest of the American and European indices. I just checked Bloomberg (delayed unfortunately) and the high so far is 20750 today, still below the peak around 21300 reached a couple of weeks ago. Maybe it is too early (and they will break it today).

But it is worth pondering, are the Asian markets, the leaders in receiving the speculative investment inflow, signaling the sea change of speculative investment outflow?

[click on charts for larger images]


South Korea is looking a bit healthier (maybe not "healthy" so much, but at least less manic than the SSEC and HSI), but there is a *huge* resistance layer to be negotiated at the 62% retrace. Lets see how this one plays out

 


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Urgent: North Korea Calls SK Decision To Join Anti-Proliferation Program Act Of War

Courtesy of Zero Hedge

Urgent: North Korea Calls SK Decision To Join Anti-Proliferation Program Act Of War

Developing story: Per BNO, Bloomberg, and WSJ, North Korea has said it will “use its military” to respond to South Korean decision.



Update from BNO: NORTH KOREA ABANDONS KOREAN WAR ARMISTICE.



Update 2: NK Statement: “Any hostile act against our vessels, including search and seizure, [..] we will immediate respond with a powerful military strike”



Update 3: NK Statement: “THE PENINSULA WILL SOON BE RETURNED TO “THE STATE OF WAR.”



Update 4: Yonhap Statement here






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Overalottment: May 25

Tyler Durden’s Overalottment: May 25

  • Must Read: Henry Paulson – "I didn’t understand the retail [mortgage] market, I just wasn’t close to it" (Newsweek)
  • Dallas Fed’s Fisher: "Don’t monetize the debt" [too late Dick] (WSJ)
  • Cushman & Wakefield exec says CRE is doomed due to lack of securitization (NYPost)
  • Euro falls on renewed concern over European banking system (Bloomberg)
  • Deripaska nears deal to retain empire (Reuters)
  • China warns Fed over "printing money" (Telegraph)
  • Yuan drops by most in 2 months on signs China gains halted (Bloomberg)
  • Libor’s plunge could trap banks (Telegraph)
  • South Korea won, stocks drop on concern over more North Korean nuclear test (Bloomberg)
  • ECB to buy bonds in June, to seek quick exit [mm hmm] (Bloomberg)
  • 50% of employers suspend college recruitment (Guardian)
  • Geithner dismisses Republican socialism charge as ridiculous
     

 


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Phil's Favorites

Why Jack Dorsey's Square paid a record $39 billion for Afterpay

 

Why Jack Dorsey’s Square paid a record $39 billion for Afterpay

Courtesy of Lien Duong, Curtin University and Sonny Pham, Curtin University

The A$39 billion (US$29 billion) that Twitter founder Jack Dorsey’s digital payments company Square is paying to acquire Australian upstart payments outfit Afterpay is the biggest takeover deal in Australian corporate history.

It surpasses the A$32 billion European commercial real estate giant Unibail-Rodamco agreed to pay for Frank Lowy’s Westfield Corporation in 2...



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Zero Hedge

Texas Judge Blocks Governor's Order Halting Transport Of Covid-Positive Illegals

Courtesy of ZeroHedge View original post here.

In a short-term victory for the Biden administration, a federal judge in Texas blocked an executive order which restricts the transport of infected illegal immigrants on Tuesday, suggesting that the order itself would have the effect of "exacerbating the spread of COVID-19."

U.S. District Judge Kathleen Cardone of El Paso agreed with the Justice Department, which accused Governor Greg Abbott (R) of potentially worsening the spread of the virus - as impeding the transfer of undocumented migrants would prolong the ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Saturday, 13 March 2021, 06:40:57 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: @crossbordercap Peak liquidity already evidence from our GLI momentum signal...has 6-9 month lead-time on markets and 15-20 months on economies



Date Found: Friday, 19 March 2021, 10:55:22 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: ...



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Biotech/COVID-19

Americans Tend To Stick To Their Stance On COVID-19 Vaccines

 

Source: Bloomberg, via ZeroHedge

Courtesy of Felix Richter, Statista

As U.S. health officials and the Biden administration desperately try to kickstart the stalling rollout of COVID-19 vaccines in face of the highly contagious Delta variant, President Biden...



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Digital Currencies

What are stablecoins? A blockchain expert explains

 

What are stablecoins? A blockchain expert explains

Stablecoins promise more stability than other cryptocurrencies. DenBoma/iStock via Getty Images

Courtesy of Stephen McKeon, University of Oregon

Stablecoins are a type of cryptocurrency linked to an asset like the U.S. dollar that doesn’t change much in value.

The majority of the dozens of stablecoins that currently exist use the dollar as their benchm...



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Politics

Bipartisan infrastructure deal begins to address consequences of a warming planet: 3 essential reads

 

Bipartisan infrastructure deal begins to address consequences of a warming planet: 3 essential reads

A lot of coastal infrastructure wasn’t designed for the frequent flooding and crashing waves brought by rising seas. Jeffrey Greenberg/Universal Images Group via Getty Images

Courtesy of Bryan Keogh, The Conversation and Stacy Morford, The Conversation

...



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Promotions

Free Webinar Wednesday: July 7, 1:00 pm EST

 

Don't miss Phil's Webinar on July 7 at 1:00 pm EST. It's FREE and open to all who wish to join.

Click here: 

https://attendee.gotowebinar.com/register/6552545459443187211

Join us to learn Phil's trading tactics and strategies in real-time!

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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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