Friday, April 2, 2010

Laotian state bank.

BANQUE POUR LE COMMERCE EXTERIEUR LAO is a wholly owned State Bank, established in 1975 at the same time when the Lao People's Democratic Republic was declared.
Like in most transition economies BCEL is moving forward to meet the Financial Sector Development challenges facing the Lao PDR economy supporting the growth of the tourism industry.
BCEL is Lao PDR's main International Services Bank with Correspondent Banking Arrangements with major money centre banks and 100 other banks throughout the World.
From 1976 to 1989, the BCEL operated as a specialized branch of the formerly State Bank ( Central Bank ) of the Lao PDR and was assigned the monopoly of and limited solely to international banking activities. It was also assigned the management of assistance grants and loans provided by foreign countries and international organizations to the Government of Lao PDR.
Banque pour le Commerce Exterieur Lao (BCEL): is the most prestigious state owned commercial bank in Laos with a 40% market share. BCEL ’s network covers most of Laos and almost every major companies in Laos are clients of BCEL
The Dow on Thursday is 11 market days to index/options futures expiry.
The Nikkei is 6 market days to expiry.
9:30am:--A 120.0 points bullish spike up aided by China reaffirming its loose monetary policy.
10:30am:--Early session high and the pullback to near opening.A hangman.
11:30am:--A bullish hammer of the downtrend.
12:30noon:--Holding at the bull pivot with bearish sign.
1:30pm:--A bearish doji spin.
2:30pm:--Bears hammer at the MAV support.
3:30pm:--Retracement,bullish engulfing.
4:00pm:--Bullish close.
The ISM Manufacturing Index for March came in at 59.6,exceeds the reading of 57.0
Given that the stock market will be closed tomorrow and the jobs report possesses a degree of uncertainty, many market participants were compelled to square their bets. That gave way to some selling and, in turn, an afternoon slide, which was likely exacerbated by the light trading volume ahead of the holiday weekend.