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This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Rabu, 03 Juli 2013

Morning Dew - 4 July 2013

Key Points
  • JCI resumed its fall on Wednesday and it reached 4577, just above the support at 4714. The dip is still considered as a decent pullback and the index is expected to hold above its subsequent support at 4648. The overall fluctuation seems to be ranging from 4500 to 5000 as the market weighs the course of Federal Reserve's policy.
  • US data looked promising on Wednesday. The jobless claims were down to 343k during the week as compared to prior week's level of 348k. About 345k was expected. ADP employment report which measures private sector's payrolls was seen to be at 160k, but it turned out to have added some 188k jobs. No data to be expected on Thursday as the US celebrates its independence day.
  • Outside U.S., in Egypt the military successfully removed President Mohamed Mursi from presidency. Constitution has been put on ice and a presidential election has been announced. In Portugal, the government is struggling to keep itself intact.
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