Stocks rose for the fifth time in six days Thursday after analysts raised their ratings on banks and oil prices rose again, making energy firms look increasingly attractive. Investors were also willing to take more chances on stocks after the government reported that the number of workers continuing to receive unemployment benefits unexpectedly fell for the first time in 20 weeks.
Most Southeast Asian indices rose on Thursday, tracking a late rebound in Hong Kong shares and U.S. futures. Thailand's stock index .SETI climbed 2 percent to its highest level since October 3, after Wednesday's 1.4 percent rise. Indonesia JKSE rose 1.1 percent.
Oil prices on Thursday set a new high for the year, buoyed by a weaker dollar and the first drop in unemployment since January. Benchmark crude for July delivery was up $2.69 to settle at $68.81 a barrel. Nickel for three-month delivery advanced $320, or 2.3 percent, to $14,525 a metric ton.
US$ debasement risks + rising oil prices + slow soybean planting in the US + rising El Nino chances = tailwinds to CPO prices.
As we see that latest data showing improvement in all regions so we think we will upgrade our target for year end. After better than expectation on our inflation data we believe our economic will have a better growth. JCI closing at 2032.72 above psychologist 2000 point index and than we will see 2187.5 soon as our medium target. Liquidity is still strong and Indonesian rupiah strengthen to 10.000 levels, Core Private Equity Fund Eye Asia Bets.
Continue to positive outlook for our market and our focus still on Commodity sector as we are more bullish. Top Pick for the day is Miners, CPO and Energy again like ANTM, INCO, TINS, ADRO, BUMI, INDY, UNTR and SGRO. And for financial sector we choose BBNI and BBRI. Don’t forget property and shipping.
“JUST BELIEVE WHAT YOU SEE”
{ YUHUUU IT'S FRIDAY !!!! }
[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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