[BRIGHT INFO] "A Cup of Tea"

GD2U and HAPPY RAMADHAN for BETTER LIFE

Investors slowed their hectic buying of US stocks Monday, leaving the major indexes little changed after a four-day advance. Stocks pulled back from their early highs as financial stocks, which had been surging, retreated. The DJIA rose 3.32, or less than 0.1%, to 9,509.28, after earlier rising as much as 82 points.

Most Southeast Asian stock indexes hovered around a one-week high on Monday, buoyed by optimism about economic recovery. The rally in Southeast Asian shares to a surge in U.S. stocks on Friday. Hong Kong shares climbed 1.67% on Monday, tracking strength on mainland and overseas stocks markets. China's main stock index ended up 1.1% on Monday in rangebound trade, with strong earnings by index heavyweight Sinopec Corp. Both markets are seen having limited upsides as investors turned cautious after the rebound.

Crude oil gained 0.6% to a 10-month high of $74.34 a barrel. Nickel jumped 3.6% to $20,000 a ton and tin climbed 0.7% to $14,400 a ton. Crude palm oil futures rose 1.3% yesterday, but came off a one-week high hit earlier in the day following market talk of a drop in palm oil exports for the August 1-25 period.

Coal prices have jumped to their highest in a year as a drop in Chinese domestic output forces the country to import. China’s net imports of coking coal rose to 12.6m tones between January and June, up from 1.1m in the same period last year. Spot prices for coking coal surged last week to $160 a tones, up almost 40% in the last three months and the highest in 12 months. The spot price is now 24% above the price at which annual contracts were settled for 2009-10.

European industrial orders increased more than economists forecast in June, according to a report today from the European Union’s statistics office in Luxembourg. Nickel Scrap Tightness. The nickel market will be in a 29,000-ton deficit next year versus a 28,000-ton surplus this year, Bank of America Securities- Merrill Lynch. The tightness in the scrap market through to 2010 would force stainless steel mills to use more refined nickel and ferronickel.

Our market still had positive momentum from fundamental indicator. The market has taken into its head we are going to see a recovery in the fourth quarter. I think in the short term there's still quite a bit of upside but with tightening liquidity we might see some correction.

My top pick was still on coal, base metal and Telecommunication for mid-term investment. Continue to Buy on Weakness at ANTM, INCO, TINS, BUMI, PTBA, ADRO, TLKM and ISAT. For second liner are ENRG, TBLA, DGIK, BKSL, RALS and SULI.

“STREAMLINE” ---

[Personal Opinion ]
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