A Cup of Tea 25/10/09

GD2U

U.S. stocks fell on Friday, with the Dow slipping below the 10,000 mark, as weak results from industrial companies overshadowed robust earnings from tech heavy-weights. For the week, the Dow industrials slipped 0.2 %, the S&P 500 fell 0.7 % and the Nasdaq dipped 0.1 %.

Major Southeast Asian stock markets ended up on Friday, rebounding from a three-day sell off as investors responded to positive earnings from U.S. and Asian companies. Indonesia's index ended 1.43% higher, with coal miner Adaro Energy jumping 6.58%, helped by a recommendation from Goldman Sachs, while top automotive distributor Astra International rose 4.15%. The Jakarta market, which rebounded from falls earlier this week, saw gains accelerate in the last few minutes of trade.

Crude oil dropped for a second day as equities retreated and the dollar rebounded from a 14-month low against the euro. Crude for December delivery fell 69 cents to settle at $80.50 a barrel at 2:40 p.m. on the New York Mercantile Exchange.

Crude palm oil futures on MDEX ended higher in range-bound trade Friday. The benchmark January contract on the Bursa Malaysia Derivatives ended MYR28 higher at MYR2,238 a metric ton, after rising to a seven-week high at MYR2,250 during afternoon session.

After selling pressure from due date fund last week eases, I think market will be more confidence this week. Inflow will be coming later this month to maintain performance.

Seven Bakrie still lead the market especially on BUMI. With strong oil price and coal price Bumi will get the benefit. Some rumors like CIC to lower 12% interest rate, withholding tax on interest income and transparency information still on market. I think BUMI will trade between 2575-3025 this week.

My Top Pick this week was Telco, Energy and Property. Buy for TLKM, PTBA, ADRO, UNTR, BUMI, UNSP, BNBR, ELTY, CTRS and CTRP. Trading Buy: banking sector. Buy on weakness: ANTM, INCO and TINS. Interesting: ENRG, DOID, SMSM, SIPD and RALS.

Earth has become a “Rock Star” by Juntri
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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.