Good day to you.The Nasdaq rose on Tuesday after an improved outlook from Texas Instruments lifted technology stocks. The Dow Jones industrial average .DJI dropped 1.43 points, or 0.02 percent.
Most Southeast Asian stocks ended higher on Tuesday, with Singapore coming off a 1-week low and Indonesia rising almost 2 percent. Advancers in Jakarta included PT Bank Mandiri Tbk which jumped 5.1 percent and PT Bank Central Asia Tbk was up 3.9%.
Equities in the region fell earlier in the day as investors cashed in on recent rallies. A weak U.S. dollar boded well for stocks and commodity prices. U.S. dollar movement against major currencies is pivotal to equity markets. Our strategy of "stay invested" in equities is based on continued dollar weakness, which brings about a reciprocal rise in commodity prices.
Crude oil for July delivery gained $1.92 to $70.01 a barrel, the highest settlement since Nov. 4. Strong demand from China and India is also expected to spur recovery in global coal in the second half of this year. Thermal Coal was offering at $74. Nickel added 4.9 percent to $15,000 a ton and tin jumped 5.9 percent to $15,775 a ton.
Maintain positive outlook with mining and coal is one of my favorite sectors. TLKM had a very attractive valuation and I think TLKM was one of the cheapest on blue-chips.
My Top Pick is ANTM, INCO, TINS, TLKM, ADRO, PTBA, UNTR, BBNI, BBRI and SGRO with recommendation buy and hold. Accumulating Bakrie related stocks such as BUMI, BNBR and DEWA.
“INFLATION IS COMMODITY”
[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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