Good day to you. The U.S. manufacturing sector showed improvement in May, contracting at a slower rate for the fifth straight month. The data drove U.S. stocks up more than 2.5 percent. Separately, the Commerce Department said consumer spending slipped 0.1 percent in April.
Indonesia's stock index JCI surged 4.3 percent to its highest in almost nine months. Indonesian annual consumer price inflation hit a 23-month low of 6.04 percent, South Korea's cooled to a 20-month low of 2.7 percent and in Thailand consumer prices tumbled 3.3 percent from a year earlier, the biggest drop since records began in 1976.
Metals traded in London, nickel added 4.7 percent to $14,595 a ton. Crude oil rose to the highest level since November as China’s manufacturing expanded and U.S. industrial output shrank less than forecast, signaling that fuel demand may increase. Oil gained as much as 3.6 percent and equities rallied after China’s Purchasing Manager’s Index showed that manufacturing in May climbed for a third month.
Indonesia’s Jakarta Composite index may rise a further 19 percent this year, based on the outlook for the economy and the valuation of its stocks, Credit Suisse Group AG said. Credit Suisse expects the benchmark measure to rise to 2,276, a 19 percent advance from the close on May 29.
Coal, Mining, Agro and Energy was still our Top Picks. But we start looking property and shipping. For defensive we like Telco sector.
We are still positive on our market with JCI target at 2187.5 for 12.5x PE’09. Long-Term Hold but Short-Term Reduce. For note; we think ANTM, TINS and INCO seems to run in front of the fundamental.
"WHOOOPPSS -- WELCOME TWO THOUSAND but LOOKS TIRED"
[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.
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