- JCI staged an impressive rebound at the start of the week. Still, the index remained blow the 5,000 mark while the upside is going to meet resistances at 5009, 5019,5028 and 5036 as well as 0.5046. On the other hand, support is expected to come by 4962 and 4856.
- Moody's warned Indonesia on its fuel subsidy policy and its impact on the economy. The rating agency maintained its stable outlook and Baa3 rating, however. Last week's S&P downgrate of outlook to stable from positive had brought negative impact on sentiment and Moody's warning had been probably partially priced in.
- Another disappointing report was the slowing down of GDP during the first quarter 2013. GDP only increased 6.02% from a year ago, slowing down from 6.11% reported in 4Q12 and trailing the median 6.1% forecast by analysts. Curbed exports and slower government spending were behind the slowdown.
- Global indices took a pause after a strong rally last Friday, while Asian stocks got mixed. Strong payrolls report as well as ECB monetary easing became positive catalysts for the market. Lack of data this week could spark a profit-taking but pullbacks are seen limited so far. Tuesday is expected to be range-bound.
Senin, 06 Mei 2013
Morning Dew - 7 May 2013
Key Points
Langganan:
Posting Komentar (Atom)
Tidak ada komentar:
Posting Komentar