The region is still very much influenced by global economies, with the second-half economic outlook for big countries including the U.S., but as relative GDP growth in Asia is better than the global picture, the region could attract more inflows. Indonesian stocks gained on Wednesday after its central bank kept interest rate unchanged but the rest of the region was mixed as operators held back because of recent signs of weakness in the U.S. economy.
The Dow Jones industrial average gained 44.05 points, or 0.41 percent, to 10,680.43. U.S. stocks rose in thin trade on Wednesday as retailers' earnings and a report showing a slight improvement in private employment boosted optimism ahead of Friday's payrolls report.
TIN
Finally TIN price break $20000 level and closed @$20250. Tin continues to provide one of the most robust fundamental pictures across the base metals complex, in 2010 and in 2011” due to a “clear global market deficit. The shortage is due to falling production in Indonesia and robust consumption in Japan and, to a lesser extent, in Europe as manufacturing and electronic sectors increase output after the crisis.
CPO
Crude palm oil regained upward momentum, rising close to a five-month high on increasing festive demand from the Indian subcontinent and Middle East region. Soyoil prices on the Chicago Board of Trade had risen to their highest level since April, underpinned by strong demand and lingering concerns about erratic weather in soybean growing areas in the U.S. Purchases of palm oil at current levels in the cash market have been very encouraging, especially those from India, Bangladesh and the Middle East. This should counterbalance rising production during the August-September period.
Our Market
I think JSX will trade slightly higher due the positive news from region but consolidation mode still intact. After central bank kept interest rate unchanged, I think baking will get positive sentiment. Negative issue came from BMRI, they plan to put right issue @idr 2500. For today automotive, mining/metal and banking will support our market. Overall I still worry about higher inflation and expect rates to go up in the fourth quarter. Fundamentally, the stock market looks strong. But we will see profit-taking here and there. JSX between 2950-3003 level.
TOP PICK: ASII, TLKM, INCO, TINS, BBRI, AALI, INDF, BBTN and BJBR
Bang Juntri
DISCLAIMER: This report is issued by Bang Juntri. Although the contents of this document may represent the personal opinion of Bang Juntri. We cannot guarantee its accuracy and completeness.
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