A Cup of Tea 23 March'10

The Dow Jones industrial average was up 43.91 points, or 0.41 percent, at 10,785.89. The Standard & Poor's 500 Index .SPX was up 5.91 points, or 0.51 percent, at 1,165.81. Stocks rose on Monday, building on last week's strength, as the passage of a bill overhauling the healthcare system ended much of the uncertainty about the issue for investors.

Most Southeast Asian stock markets fell on Monday, hit by worries over Greece's debt, while weaker oil prices squeezed energy and resource shares. Singapore slid 0.9 percent, Malaysia edged down 0.23 percent, Thailand ended 0.3 percent lower, and Indonesia dropped 1.5 percent.

The benchmark MSCI index of Asian shares outside Japan had shed 1.4 percent by 0927 GMT while oil CLc1 fell towards $80 on Monday and extended losses for the third-straight session.

Crude palm oil futures on Malaysia’s derivatives exchange ended mostly lower Monday in volatile trade spurred on by conflicting export estimates. The benchmark June contract on the Bursa Malaysia Derivative exchange ended down MYR7. Intertek estimated exports were up 3.4% on month at 873,931 tons, just a little over market expectations of 873,000 tons. SGS prompted the bears to come out in full force. The surveyor's data showed exports during March 1-20 fell 2.4% on month to 844,474 tons.

On LME Tin ended at $17,550 from $17,650 and nickel at $22,275 from $22,450.

Over all I still thinking positive for our market. It's just a market correction because share prices have rallied too far and too fast. Indonesia underperformed the region, down 1.5 pct contributed by Coal miner Bumi Resources dropped 9.7 percent, P Gas Negara fell nearly 3 percent and Adaro Energy was down 2.1 percent.

Banking, Energy and Metal still my favorite sector. Index had support at 2690 level. I like ANTM for next growth, the result above consensus estimates and both gold and nickel had a good price.

Bang Juntri