Good day to you.Bad economic news and doubts about the market's ability to rally dealt stocks a huge setback. DJIA fell 187 points Monday, their biggest drop since April 20. All the major market indexes fell more than 2 percent.
Most Southeast Asian stock markets fell on Monday, with Singapore, Thailand and Indonesia approaching a one-week low as retreating oil prices pushed energy and commodity shares lower. Asian bourses look set to be in a correction phase. Investors have taken the view that interest rates may start going up again, although this looks to be too early.
The Singapore index fell 2.6 %, Thailand's index dropped 2.7 %, Indonesia lost about 1 % and Vietnam fell 3.2 %.
Commodities are fall as rising dollar curbs demand for inflation hedge. Oil fell for a second day as the dollar rose the most against the euro since April, Crude oil for July delivery lost $1.42, or 2 %, to settle at $70.62 a barrel. Tin dropped 3.8 percent to $15,050 a ton. Nickel slid 5.8 percent to $14,775 a ton. Palm oil dropped as much as 1.8 per cent to RM2,420 (US$687) a ton.
Indonesian market will under pressure for today with JCI support around 2010-2032 point index. The correction is still healthy because nothing changes on our fundamental economic. Cash management is still preferred. We are looking defensive stocks with high dividend such as TLKM, ASII, BBRI, TINS and ANTM. Buy on Weakness on the lower range index.
“Planning for Growth, Investing for The Future”
[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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