Market Flash: iSHARES MSCI Indonesia Investable Market Index Fund (EIDO:US) PRICE: 28.530 USD Down -0.360 (-1.246%) >>> BI: Rupiah Melemah Akibat Kondisi Eropa >>> Pertemuan FED pertimbangkan langkah baru dorong ekonomi >>> KIJA akan Terbitkan MEN Valas USD150 Juta >>> PT Indika Energy Perusahaan Teladan Dunia 2011 >>> Govt Promises Revision of Cost Recovery Regulation >>> BPMigas Demands PGN to Pay US$6 per MMBTU >>> Jababeka to Raise US$150 Million from Debt Markets >>> SCG Chemicals buys Chandra Asri >>> Solusi Tunas eyes Rp380 bio IPO >>> SMR Utama scouts Rp300 bio IPO >>> Alam Sutera picks two bond arrangers >>> ASII Tetap Rajai Penjualan Mobil Agustus 2011 >>> Perusahaan Thailand kuasai Saham TPIA senilai Rp 3,76 Triliun >>> Agis Main ke Tambang, Sahamnya Masuk Dalam Pengawasan >>> ACES Mendekati The Northern Agar Mau Kurangi Kepemilikan >>> IHSG masih harus berjuang terus bertahan diatas MA200 >>> Melirik Peluang Akumulasi di Saham Perbankan >>> Analisa Saham BUMI: Kuat Bertahan & Berpeluang Kembali Uptrend >>> Analisa Saham JSMR: Bertahan Di Support, What Next? >>> INDF Tertahan Di Area Support Kuat, Berpeluang Rebound >>> ASII Break Minor Support, Sell on Strength >>> ADRO Membentuk Descending Wedges, Berpeluang Rebound Terbatas >>> Wall Street ends flat as early gains evaporate >>> Fed begins policy meeting, tiptoes toward easing >>> Fed meeting to help decide on long-term Treasuries >>> Greece Makes 'Good Progress' in Reform Talks: EC >>> China worried Europe debt crisis will hit trade >>> China could roll out 4.65tr yuan stimulus package >>> IMF sees Mideast stagnation >>> NYMEX-Crude ends higher at Oct contract expiry >>> Asian Crude Palm Oil Up On Technical Buying, Soyoil >>> Foreign net Sell - 61.785.746

Selasa, 07 Juni 2011

ASEAN remix: Lift Malaysia & Indonesia, lower Thailand - JPM

ASEAN: Back in focus as domestic demand theme resurfaces
As global growth momentum slows, we believe ASEAN will come back into focus because of domestic demand, reminiscent of mid-2010. However, performance within ASEAN differs more than investors think. Since earnings are largely mid-cycle and valuations are generally fair, we believe economic and earnings factors will drive performance within ASEAN.

Upgrade Malaysia and Indonesia to overweight
Malaysia and Indonesia both present strong domestic demand stories and have structural programs in place for medium-term economic improvements. Malaysia benefits the most from higher oil prices and positioning is light; Indonesia is ahead of the inflation curve and has the strongest earnings growth in this sub-region.

Downgrade Thailand due to macro and valuation concerns
Thailand has partially rerated but has weaker growth, higher inflation, and heavy foreign investor positioning. We believe election uncertainty, high oil sensitivity, and a lack of ‘top-down direction’ makes this unattractive from a risk/reward perspective.

We like ASEAN Top Picks, South East Asia domestic demand
We favor two alpha portfolios: a selection of our best bottom-up ideas, as well as a collection of ASEAN domestic demand stocks.

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