[BRIGHT INFO] "Just a Note - LOOKING FORWARD"

Good day to you.

The Dow moved into positive territory for the year for the first time since early January on Friday. For the week, the Dow gained 0.4 %, the S&P 500 added 0.7% and the Nasdaq rose 0.5%.

Southeast Asian stock markets ended mixed on Friday, Singapore down for a second day, while bourses in Malaysia, Indonesia and Thailand inched higher. Gains in Chinese industrial output and rising U.S. retail sales lifted Asian shares toward new highs for the year.

Crude oil fell for the first time in four days as a record plunge in European industrial production. Crude oil for July delivery fell 64 cents, or 0.9%, to settle at $72.04 a barrel. Coal on Newcastle Port closed at $76.75 up 3.28% from last week.

The metal used in power and construction has gained more than 70 % this year and about 10 % since the start of June on stronger economic data and expectations of higher demand in the future. Investors are becoming more positive on the macro economic outlook. The global recovery seems on track and metals should pick up through the second half of 2009 and (into) 2010. The automaker aims to increase manufacturing capacity to 1.1 million nickel-metal hydride cells in 2010. LME Nickel 15500 down 1.90% but YTD + 32.48%. LME Tin 15600 down 0.95% but YTD + 45.79%.

CPO Output in Malaysia surged 8.5 % to 1.4 million metric tons in May, lifting stockpiles for the first time in six months by 5.7 % to 1.37 million tons compared with April.

We believe our market still on consolidation mode this week. Some Local Fund still reduces their position for cash management. But with better economic outlook we are still maintain Positive Outlook for our market.

With dividend about idr296.94 I think TLKM will be a trigger for index mover today. Valuation TLKM is cheap, good capex and expansive business. We put price objective TLKM at 8400 16.8xP/E’09 compare to ISAT 20xP/E’09.

As we believe that crude oil will trade above $75, coal price at $75 and Nickel will trade at above $16.000 mining and energy is still my favorite sector.

We continue to buy on weakness on ANTM, INCO, TINS, BUMI, PTBA, ADRO, BNBR, INDF and SGRO.

“LOOKING FORWARD”

[Personal Opinion ]
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DISCLAIMER: This report is issued by [BRIGHT INFO]. Although the contents of this document may represent the opinion of [BRIGHT INFO]. We cannot guarantee its accuracy and completeness.