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KUCHING, April 20 (Bernama) -- Permodalan Nasional Bhd and CIMB Bank on Tuesday unveiled CIMB Clicks Amanah Saham Nasional Bhd (ASNB) Funds Top Up Facility at the 11th Minggu Saham Amanah Malaysia (MSAM) here.

The online facility allows all registered ASNB investors, who have a CIMB Clicks account to make additional investments in five fixed-price unit trust funds managed by ASNB.

The five funds are Amanah Saham Bumiputera (ASB), Amanah Saham Malaysia (ASM), Amanah Saham Didik (ASD), Amanah Saham Wawasan 2020 (ASW2020) and Amanah Saham 1Malaysia (AS 1Malaysia).

"As the ASNB funds are very well received by the public, including many of CIMB customers. The bank feels that it can provide more value-added services to its customers by offering hassle-free online investment top up facility," PNB President and Group Chief Executive Tan Sri Hamad Kama Piah Che Othman said at the launch here.

Deputy Prime Minister Tan Sri Muhyiddin Yasin officiated the launch, after the official opening of the 11th Minggu Saham Amanah Malaysia.

To enjoy the online service, ASNB investors just need to register with CIMB Clicks and have active ASB, ASM, ASD, ASW2020 and AS1M membership numbers.

Hamad said third party top up is also accepted under this service, thus allowing family members or guardians to invest for their loved one.

Minimum investment through CIMB Clicks is RM1 and the maximum is subject to the investors' purchase limit and funds available in the customer's accounts.

He said a service fee of RM1 will be charged for every transaction regardless of the amount.

However, unit holders may only update their passbook at all ASNB offices, CIMB Bank, RHB Bank, Maybank and Pos Malaysia branches nationwide the next working day after the validation is done.

All transactions performed on Saturday, Sunday and Public holiday will be processed on the next working day.

The online facility also available at Maybank2u, he added.

-- BERNAMA

source HERE

"Be fearful when others are greedy, and be greedy when others are fearful."

– Legendary investor Warren Buffett, one of the world's richest men

UBS called the bottom of the recent downturn to the exact day on February 9th (see here). They’ve been bullish since then, but are now warning of extreme risks in the market. According to their Risk Appetite Indicator, risks are surging as the market advances and investors turn increasingly complacent:

“Our Risk Appetite Indicator edged higher last week, moving up to 1.21 from 1.15. After briefly dipping into negative territory in early February, the indicator has risen 5 out of the last 6 weeks (with one week unchanged) and is nearing the +1.30 level, which we define as extreme risk seeking territory. Last week, each component ticked marginally higher as the MSCI AC World index was up 1.9%.”

Their index has proven quite timely. Based on UBS data going back over a decade the market’s have returned about 1% over the following 12 months after a “sell signal”. 12 month returns following a “buy” signal were over 6%.

“When the index is greater than +1.3 standard deviations from its mean, the index is showing investors are very willing to take risk, which is when historically the index has given its best “sell signal”. Equity returns 12 months on from such high risk appetite are typically very poor, just 1% on average.”

Bankingnews.gr has disclosed something interesting. According to the Greek website, an account, allegedly a large US bank, has been dumping, in what it classified as "panic selling", its holdings of a 10 Year GGB maturing on April 20, 2010, or in 11 days. What is unclear is whether the bank has been trading for its own account or for a client. What is clear, is that the seller is certainly not too convinced that the bond will see a repayment of principal when it matures, in other words believes that Greece will go bankrupt before April 20^th.

From the source:

It is clear that this move is panic.

The seller believes that in the next 11 days Greece will go bankrupt, there will be default or anything else to sell a bond expires in 11 days.

Who sold under a sign is a large U.S. bank.

The only thing that has not been established is sold on behalf of a client or on their own behalf?

Both are negative developments ...

We did some snooping of our own and uncovered one bond issue that is due on April 20, however it is a 5 Year, not a 10 Year as bankingnews.gr claims. The 5 Year bond in question is a €8.22 billion in size, issued at 100.037, and was trading at 99.9008x99.9058.

continue HERE

Robert Prechter of Elliott Wave International thinks between now and May is the 3rd best selling opportunity to sell stocks over the past 10 years. First in 2000, second in late 2007 and third "between now and a few weeks from now". What do you think, will there be a third wave down from the 2007 peak (Wave C)? Prechter thinks we're in for another deflationary episode, even after the trillion in stimulus.

"I think you can short just about everything, somewhere between now and May we're going to have a real rollover. Think about this progression. In October the bond market topped out. In November the Dollar bottomed. In December Gold and Silver and the utilities average, go figure that one, topped out. In January the CRB Index of commodities topped out. The US stock market is the last domino holding up. The best trade on the board, the one I've been bullish on for the past six months has been the US Dollar....."

source HERE