GD2U and HAPPY RAMADHAN for BETTER LIFE
DJIA shot up 155 points on Friday, closing above 9,500 for the first time since Nov. 4, 2008, and all the big indexes finished with gains of more than 1.5%. European stocks advanced after services in Germany and manufacturing in France unexpectedly rose. Purchases of existing homes climbed 7.2%, the National Association of Realtors said Friday in Washington.
China shares ended a roller coaster week on a high note, advancing 1.7% in rising volume on Friday, led by banks after strong earnings reports, although it posted its third weekly loss in a row.
Hong Kong shares dropped 0.6% on Friday as fears resurfaced about a likely clampdown on lending. Reports that China's banking regulator may tighten capital rules by excluding subordinated bonds banks sell to other lenders from their capital base triggered selling in Chinese bank stocks in Hong Kong. That is old news and the market already responded to this once. But investor confidence has been so shaken by the sell-off earlier this week that every time this news surfaces its an excuse to sell.
Crude oil rose to a 10-month high in New York on Friday, following equities higher on speculation that the global recession is easing. Crude oil for October delivery increased 98 cents to $73.89 a barrel. Newcastle Coal closed at $72 down 3%.
Nickel, which surged 17% the past month, may advance further as price momentum and inflation expectations lure fund managers even as stockpiles of the metal approach a 14-year high. The CHART on the London Metal Exchange shows that the lower panel tracks inventories in metric tons. The price jumped to its highest level for a year on Aug. 13 and open interest was a record 147,117 contracts on Aug. 14, according to LME data. The price momentum behind metals is so strong that the market is attracting external players.
Malaysian cpo rose 1.9% on Friday, recovering from a near three-week low earlier in the session on talk of lower production in a key growing region.
Our market still had high volatility with tight liquidity. As our fundamental economic still strong and regional data getting better, I think we do not worry. We still put JCI target at range 2375-2450 for year-end 2009. And we still believe that it will achieve.
For today I think our market will move and stay on territory positive. Our focus is still on sector mining such as a base metal and coal, energy, telecommunication, bank.
Top Pick for today is TLKM, ISAT, PTBA, BUMI, ADRO, BBNI, BDMN, INDF, UNTR, BNBR, ANTM, TINS and INCO. We put SoS for BBRI, BBCA, BMRI.
Note: BUMI through the subsidiary business Calipso Investment Pte Ltd are bidding up to 15.8% shares in Herald Resources Ltd price AUD 0.7 per share which is 75% premium from closing Friday. Currently, Calipso has an 84.2% share Herald.
“EXPENSIVE? NOT REALLY”
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