Market Report Jalatama

Emas Hentikan Relinya

                

Emas melemah pada hari Jumat mengakhiri kenaikan selama empat hari terakhir akibat penguatan dolar, meskipun logam tetap stabil di sekitar level $ 1.220 akibat sentimen prospek perlambatan ekonomi yang meluas yang dapat mempertahankan suku bunga ultra rendahnya.

                

Kekuatan dalam mata uang AS mendorong komoditas melemah di seluruh perdagangan, bersama dengan minyak Brent berjangka yang sebelumnya jatuh lebih dari 1 persen menuju level terendahnya dalam empat tahun terakhir, sementara kekhawatiran tentang prospek perlambatan ekonomi dunia memukul pasar saham.

                

Spot emas turun sebesar 0,3 persen ke level $1,219.94 per ons pukul 14:05 waktu setempat, sementara Emas berjangka AS untuk pengiriman Desember turun $4,50 per ounce ke level $1,220.60. Emas mencapai level terendah dalam 15 bulan terakhir di level $1,183.46 pada hari Senin lalu pasca rilis data pekerjaan AS yang kuat memicu pembicaraan bahwa suku bunga AS dapat meningkat lebih cepat daripada yang direncanakan. Emas telah rebounded, namun, dan tetap di jalur untuk mencatat kenaikan mingguan terbesar dalam empat bulan terakhir.

                

Rebound emas mendapat momentumnya pasca rilis risalah dari pertemuan September the Fed, yang dirilis pada hari Rabu lalu, menunjukkan bahwa para pejabat sedang berjuang dengan berbagai cara guna menghadapi ancaman ganda dari peningkatan dolar yang tinggi dan perlambatan global.

Gold Market Resume

Asian Stocks Advance After Japan Pension Fund Report

Asian stocks climbed, led by a rally in Japanese shares after a committee advising the ministry that oversees the world’s largest pension fund said it no longer needs to focus on domestic bonds.

Mitsubishi UFJ Financial Group Inc. gained 1.4 percent in Tokyo. Myer Holdings Ltd. (MYR), Australia’s largest department-store operator, advanced 1.3 percent in Sydney after retail sales in January climbed the most in a year. Naver Corp. headed for a record close in Seoul after Daewoo Securities lifted its price target on the Internet company.

The MSCI Asia Pacific Index rose 0.2 percent to 137.85 as of 10:07 a.m. in Tokyo. The 128.6 trillion yen ($1.26 trillion) Government Pension Investment Fund should seek yearly returns of 1.7 percent plus the rate of pay increases for workers, according to a draft report from the committee tasked with helping the health ministry decide on economic assumptions for investment targets.

Japan’s Topix index rose 0.3 percent. New Zealand’s NZX 50 Index advanced 0.5 percent, extending gains from a record high. Australia’s S&P/ASX 200 Index (AS51) declined 0.1 percent, retreating from a 5 1/2-year high. The gauge pared losses of as much as 0.4 percent after retail sales in January beat estimates.

The MSCI Asia Pacific Index climbed 5.7 percent from this year’s lowest level through yesterday, leaving the gauge trading at 12.9 times the estimated earnings of its constituent companies, compared with 15.9 for the Standard & Poor’s 500 Index and 14.6 for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

Futures on the S&P 500 were little changed after the U.S. equities benchmark fell less than one point to 1,873.81 in New York.

(Source: Bloomberg)

Hong Kong Stocks Decline After China Manufacturing Data

Hong Kong stocks dropped, with the benchmark index headed for its biggest drop in two weeks, after a Chinese manufacturing gauge slumped. China Petroleum & Chemical Corp. jumped on a plan to seek private investors.

Industrial & Commercial Bank of China Ltd., the nation’s largest lender, slid 2.5 percent as financial companies led losses. Tencent Holdings Ltd. (700), Asia’s largest Internet company by market value, slid 2.7 percent after Facebook Inc. agreed to buy mobile-messaging startup WhatsApp Inc. China Petroleum, also known as Sinopec, soared 7.1 percent after saying it’s seeking investors for as much as 30 percent of its oil retail unit.

The Hang Seng Index lost 1.4 percent to 22,358.80 as of 10:23 a.m. in Hong Kong, after rising as much as 0.4 percent. About five stocks declined for each that rose on the 50-member gauge, with trading volume more than double the 30-day average. The Hang Seng China Enterprises Index (HSCEI), also known as the H-share index, retreated 1.4 percent to 9,918.90.

The preliminary February reading of 48.3 for a Purchasing Managers’ Index released today by HSBC Holdings Plc and Markit Economics compares with January’s final figure of 49.5 and the 49.5 median estimate in a Bloomberg News survey of 17 economists. A number below 50 indicates contraction.

(Source: Bloomberg)

S&P 500 Rises Toward Record as Forest Labs Offsets Data

Most U.S. stocks rose, with the Standard & Poor’s 500 Index (SPX) climbing to within eight points of a record, as a $25 billion deal to acquire Forest Laboratories Inc. offset slower growth in New York-area manufacturing.

Forest Laboratories surged 28 percent after Actavis Plc agreed to buy the maker of the Alzheimer’s drug Namenda. Coca-Cola Co. dropped 3.8 percent as fourth-quarter profit fell. D.R. Horton Inc. and PulteGroup Inc. lost more than 1.2 percent as a gauge of homebuilder confidence declined by the most on record in February amid bad weather that hurt sales.

The S&P 500 added 0.1 percent to 1,840.76 at 4 p.m. in New York, near its record close of 1,848.38 set last month. The Dow (INDU) Jones Industrial Average fell 23.99 points, or 0.2 percent, to 16,130.40. About 6.3 billion shares changed hands on U.S. exchanges, in line with the three-month average. The U.S. market was closed yesterday for the Presidents’ Day holiday.

The S&P 500 finished its best week of the year within 0.5 percent of its all-time high on Feb. 14, amid better-than-forecast earnings and continued confidence in the strength of the world’s biggest economy.

(Source: bloomberg)               

Asian Stocks Outside Japan Advance After China’s Lending Data

Asian stocks outside Japan gained, with a regional gauge heading for an almost three-week high, after a report showing China’s new credit increased to a record in January. Japan’s Topix index fell after the nation’s economic growth missed estimates and the yen strengthened.

Rio Tinto Group (RIO), a mining company that gets about 32 percent of sales from China, rose 1.6 percent in Sydney. Newcrest Mining Ltd., Australia’s biggest gold producer, advanced 3.2 percent as bullion’s price rose to a three-month high. Rakuten Inc., a online retailer controlled by billionaire Hiroshi Mikitani, dropped 9.5 percent in Tokyo after announcing plans buy the Viber Internet messaging and calling service for $900 million.

The MSCI Asia Pacific excluding Japan Index added 0.3 percent to 457.27 as of 9:54 a.m. in Tokyo. The measure climbed 2.7 percent last week as trade data from China beat estimates and Janet Yellen’s first official address as head of the Federal Reserve buoyed optimism about the U.S. economy. The broader MSCI Asia Pacific Index rose 0.1 percent to 135.31, paring gains of as much as 0.5 percent.

(Source: Bloomberg)

Currency Volatility Drops Before Yellen Testimony; Krone Jumps

A gauge of major currency volatility fell to the lowest level in more than two weeks before Federal Reserve Chairman Janet Yellen gives her first monetary-policy report to Congress tomorrow as the central bank weighs the pace of the economy and additional cuts to its monthly bond-buying.

The yen rose versus most of its 16 major counterparts even as the Ministry of Finance said the nation’s current-account deficit widened to a record. Norway’s krone jumped the most in three weeks against the euro after inflation quickened. The Australian dollar fell as Toyota Motor Corp. (7203) said it will stop building cars there in 2017. Hungary’s forint and South Africa’s rand led losses among emerging-market currencies.

“Focus this week will be very much on Janet Yellen’s first round of congressional testimony as Fed Chairman,” Robert Lynch, a currency strategist at HSBC Holdings Plc in New York, wrote in a client note. Yellen’s limited comments in recent months “suggest she favors the more gradual pace of tapering currently in place and can easily point to the recent softening in the jobs data and some other economic indicators to support her view.”

The JPMorgan G7 Volatility Index fell to 7.83 percent at 5 p.m. in New York, the lowest level on a closing basis since Jan. 22.

The yen was little changed at 102.26 per dollar after sliding to 102.64, the weakest level since Jan. 31. Japan’s currency was little changed at 139.54 per euro after dropping 1.6 percent during the previous two days. The euro added 0.1 percent to $1.3646.

(Source: Bloomberg)