Riffrag Business & Finance Report

Dow Jones: In yesterday’s trading U.S. stocks and bonds rose as the yen weakened due to signal the central bank has been quite comfortable with the level of the current economic recovery and may reduce the stimulus.

S & P 500 Index (+0.6%) 1102.35 and the Dow Jones (+0.6%) 10405.83. The Swiss National Bank says it will stop buying bonds in an effort to prop up the economy while The Bank of England has said it will spend no more than 200 billion pounds (USD326 billion) to buy bonds.
Do not miss news about the World Cup in 2010, just in Okezone.com

Regional Morning: Japan Exchange rose for the first time in four days as the U.S. unemployment reduction that increases the belief that increased economic expansion and brokers to increase ratings. Nissan Motor Co. (+2.6%) after the dollar strengthened against the yen.

Nomura Holdings Inc. (+1.4%) as the shares were given a rating of “strong outperform” rating and real estate sector “overweight” in a new cover by Mitsubishi UFJ Securities Co.. JTekt Corp. (+3.6%) after the stock rating was raised to “outperform” and “underperform” by Credit Suisse Group.

Nikkei 225 (+0.74%) 9,935.43. Kospi index (-0.45%) 1645.26. Index S & P / ASX 200 (+0.45%) 4627.40. STI (+0.14%) 2785.75.

Commodities: Crude oil traded below USD71/barel in New York, heading for its biggest weekly decline since September after a decline in U.S. fuel inventories which lowered confidence that demand will recover. Crude oil for January delivery traded at $ 70 levels, 56 a barrel, up 2 cents on the NYMEX. Yesterday, crude oil price fell 13 sen to be $ 70 in 54.

Crude Oil (+0.1%) $ 70, 6/bbl. Copper prices fell after inventories in London Metal Exchange jumped 34% since 30 September. Currently copper inventories rose to 461.625 metric tons, and is the highest level since 20 April.

Copper for delivery in March -0.7% to USD3.103/pound. Gold (+0.4%) USD1.136/oz, CPO (-1.5%) RM 2458 / MT, Nickel (+1.8%) USD16.275/MT, Tin (+0.2%) $ 15 .300/MT

The Moor to the 3000 CSPI

JAKARTA – Along with the strengthening of the Asian index, stock price index (CSPI) also intensified approaching 3000 levels.

CSPI, at the close of the first session Monday (21/06/2010) increased by as much as 43.77 points, or 1.49 percent equivalent to the position of 2973.36. LQ45 index gained 10.32 points to 580.04 and the Jakarta Islamic Index (JII) rose 9.58 points to 478.76.

Strengthening of mining sector seems to lead to strengthened as much as 64.33 points, followed by consumer sector rose 20.8 points, the plantation sector gained 18.97 points and the manufacturing sector rose to 15 points.

The value of transactions recorded Rp2, 29 trillion, with a volume of 2.73 billion shares. A total of 128 stocks rose, 63 shares fell, and 59 stocks remained unchanged price.

Stocks are moving higher (top gainer), among others, PT HM Sampoerna Tbk (HMSP) gained Rp2.000 to Rp18.200, PT Astra International Tbk (ASII) gained Rp1.600 to Rp50.150, PT Unilever Indonesia Tbk (UNVR) rose Rp800 to Rp17.600, PT United Tractors (UNTR) rose Rp650 to Rp19.450, and PT Indo Tambangraya Tbk (ITMG) rose Rp600 to Rp39.300.

While stocks are moving down (top Losser), among others, shares of PT Gudang Garam Tbk (GGRM) weakened to Rp34.500 Rp400, PT Hero Supermarket Tbk (HERO) weakened to Rp3.900 300, PT Telekomunikasi Indonesia Tbk (TLKM) weakened Rp150 to Rp7.900, and PT Semen Gresik Tbk (SMGR) down Rp100 to Rp8.900.

Asian indices also appear to strengthen at an even stronger this afternoon. The Nikkei rose 209.65 points, or 2.1 percent to 10204.67 position. Hang Seng Index rose 576.47 points, or 2.84 percent to 20963.18 and the Straits Times index rose 46.29, or 1.63 percent to 2879.69

JAKARTA – Early this morning the stock trading did not seem like a good start for the stock price index (CSPI), which corrected thin when compared with the end of trading yesterday.

CSPI, in early trading Tuesday (06/22/2010) only weakened 2.02 points, or 0.07 percent, to 2939.88. LQ45 index fell 0.52 points to 571.82, and the Jakarta Islamic Index (JII) actually rose 0.85 points to 471.72.

Value of new listed transactions Rp49, 58 billion, with trading volume of 78 million shares. As many as 19 stocks rose, 34 shares fell, and 48 shares remained unchanged in price.

JCI weakening seems to follow the Dow Jones Industrial Average, which fell 8.23 points (0.08 percent) to 10442.42, after a chance surged more than 140 points. Meanwhile, the Nasdaq technology index shrank 20.71 points (0.90 percent) to the position of 2289.09 and the broader market S & P 500 index declined 4.31 points (0.39 percent) to 1113.20.

Not far different, even the Asian indices also fell. The Nikkei fell 62.70 points, or 0.61 percent to 10175.31, the Hang Seng index tumbled 63.58 points, or 0.30 percent to 20848.60, and the Straits Times index fell 1.81 points, or 0.06 percent to 2883.83.

Stocks are moving higher (top gainer), among others, PT Astra International Tbk (ASII) rose Rp500 to Rp48.750, Tbk PT Indo Tambangraya (ITMG) rose Rp450 to Rp38.900, PT Unilever Indonesia Tbk (UNVR) rose to 200 Rp17.150, PT HM Sampoerna Tbk (HMSP) rose Rp100 to Rp18.050, and PT Bank Rakyat Indonesia (BBRI) rose to Rp50 Rp9.200.

While stocks are moving down (top Losser), among others, shares of PT Gudang Garam Tbk (GGRM) weakened to Rp34.000 Rp500, PT Federal (AUTO) weakened to Rp13.600 Rp100, PT United Tractors Tbk (UNTR) fell Rp100 to Rp19.200, PT Indocement Tbk (INTP) weakened to Rp16.500 Rp100, and PT Semen Gresik Tbk (SMGR) dropped to Rp50 Rp8.800

Action ambitious profit (profit taking) seem to overshadow the stock market will come back this time. Nevertheless, the stock price index (CSPI) still has a chance to reach the 3000 level.

“We also saw the index is still in a bullish trend for the short term,” Panin Securities analyst Sartono to okezone Purwoko in Jakarta, Tuesday (22/06/2010).

He explained, if investors tend to profit-taking on shares of bluechips occur when the index is almost touching the 3000 level.

“We are seeing the emergence of profit-taking propensity as the index approached the level of 3000. Some of the drivers leading stock indexes seen beginning to experience pressure on sales,” he added.

He estimated the range of support-resistance today will be in 2929-2990.

Meanwhile, something similar was expressed by Trimegah Securities. Where is the weakening of the stock index is still in danger due to profit taking. “This is in line with the Stochastic which tend to cross the dead,” explained the company.

To this day, Trimegah estimate the index is expected to move in 2911-2996 range, with excellent stocks of PT Bank Central Asia Tbk (BBCA) and PT Holcim Indonesia Tbk (SMCB).