Board Type: Semi-PrivateAdmins: Soda


Our fund raising round was not successful.  As a result, IDB will be going off line and into cold storage.  If our competitors should stumble, I may re-active the site in the future but for now, we're turning out the lights.

I had planned to go off-line on April 4th.  Due to some important and unplanned changes in our maintenance schedule, I am now bumping that up to next Tuesday morning, March 27th, 2018.  PM 'admin' if you need to reach me. 

You should use the next 5 days to find a new home for your community.

Running IDB has been fun over the years and I hope you enjoyed your time here as well.  Sincerely,  Paul

P.S. News on IDB Funding -- this is now on it's own page to clean up the site a bit.

Hi-tech leads Asia shares near two-year high despite soft China, U.S. data Mon May 1, 2017 | 11:05pm EDT

By Hideyuki Sano | TOKYO

Asian shares rose to near two-year highs on Tuesday as growing optimism over tech industry earnings and easing concerns over North Korea offset softer-than-expected factory readings in China and the United States.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 percent to its highest level since June 2015, as many of the region's markets reopened after a long holiday weekend.

Japan's Nikkei rose 0.7 percent.

On Wall Street, although the Dow Jones Industrial Average fell 0.13 percent on Monday, the S&P 500 gained 0.17 percent and the Nasdaq Composite added 0.73 percent to a record closing high.

Notably, the world's five largest companies by market capitalization -- Apple, Alphabet, Microsoft, Amazon and Facebook -- all hit intraday or closing highs - or both - on Monday.

"For those large shares to rally to record highs at the same time, you really need a big amount of money flowing in. It is fair to assume the money that was once staying in the bond markets are now going to hi-tech shares on back of their strong earnings," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

The gains in hi-tech shares accelerated after strong earnings from Google, Amazon and Microsoft last week. Apple is due to report its results on Tuesday and Facebook on Wednesday.

In Asia, Samsung Electronics gained as much as 2.0 percent, helping to lift Kospi index 0.7 percent to within reach of its all-time high marked in 2011.

Taiwan Semiconductor Manufacturing Co (TSMC) hit a record high, rising as much as 2.3 percent, while in Hong Kong, Tencent gained 0.8 percent to record highs.

Strong demand for various products related to the so-called Internet of Things (IoT), in which regular products are connected to networks, are supporting hi-tech demand, said Yukino Yamada, senior strategist at Daiwa Securities.

Worries about tensions over the Korean peninsula also eased slightly after U.S. President Donald Trump on Monday opened the door to meeting North Korea's Kim Jong Un, saying he would be honored to meet the young leader under the right circumstances.

The CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its lowest level since Feb 2007, suggesting investors' fears were easing.

In the foreign exchange market, diminishing risk aversion is helping the dollar to gain a foothold at one-month high of 111.985 yen.

The euro was little moved at $1.0911, stuck in a well-worn range ahead of the second round of the French presidential election on Sunday.

The Australian dollar rose 0.2 percent to $0.7542, showing limited reaction to a private sector survey that showed growth in Chinese factory activity slowed to its weakest pace in seven months.

The factory survey echoed findings from China's official readings at the weekend which also showed the pace of growth was easing, but still solid. Most analysts attributed the softening to weaker prices for raw materials such as iron ore.

U.S. economic data announced on Monday also fell short of expectations. U.S. factory activity slowed in April, with ISM manufacturing activity index falling to 54.8 from 57.2 in March, an unexpectedly large retreat.

"Given that reading for March was really strong, you can say that it has become 'strong' from 'super-strong'," said Mitsubishi UFJ's Fujito.

U.S. consumer spending was unchanged in March and a key inflation measure recorded its first monthly drop since 2001.

Still economists expect the Federal Reserve to raise interest rates in June as the labor market seems to be tightening.

Money market futures are pricing in about 70 percent chance in June. Virtually no one expects a rate hike in its upcoming meeting on May 2-3.

In the U.S. bond market, the 30-year U.S. Treasuries yield rose above 3 percent for the first time since April 10 after U.S. Treasury Secretary Steven Mnuchin said the government is looking into the issuance of ultra long-term bonds, or those with maturities beyond 30 years.

Fear of more issues in those maturities lifted the yield spread between 10- and 30-year bonds to 0.69 percentage point, its highest since early December.

The 10-year yield stood at 2.323 percent, below a two-week high of 2.350 percent set on April 26.

Oil prices were under pressure as rising crude output on Libya and the United States outweighed OPEC-led production cuts aimed at clearing a supply glut. [O/R]

Brent futures stood at $51.44 per barrel, down 8 cent, or 0.2 percent.


(Editing by Kim Coghill)