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

Minggu, 05 Juni 2011

Global Emerging Markets Strategy Monthly Recap — There’s Something About May - Citigroup

 Sold in May — EM equities declined by 3.0% in May, marking the worst monthly performance in a year. EMs continued their underperformance of developed markets, as MSCI World fell by 2.5%. The recent decline in EM equities (-7.7% from peak to trough) was accompanied by a pullback in risk appetite as fears over the European sovereign crisis reemerged, leading to a dollar rally and weakening commodity prices.

 Regionals — Asia (-1.8%) was, as usual in falling markets, the best performing EM region in May. MSCI China (-0.3%) held up well as hopes increased for a potential inflection point in inflation and a softening policy stance in 2H11. Latam fell by 3.2% on softening commodity prices and the dollar rise. EMEA fell sharply in May (-6.4%) dragged down by Turkey (-13%), Hungary (-7.8%) and Russia (-7.7%).

 Countries — The top performing EM country in May was Egypt (+10.1%), with the only other markets to rise in the month being Colombia (+2.3%), Peru (+0.8%, which shrugged off presidential election uncertainties) and Indonesia (+0.4%). The bottom five EM markets were all from EMEA: Turkey, Hungary, Russia, Czech Republic and South Africa (the last two falling by 5-6%).

 Commodities/Sectors — Overall, commodity prices fell in May (CRB index: -0.9%) with oil prices leading the way (- 9.8% to $102/barrel (WTI). Weaker commodity prices were reflected in sector performance as Energy was the weakest sector in EMs in May, down 5.2%, followed by Materials (-4.8%). The best performing EM sectors were Health Care (+0.3%), followed by Consumer Disc (-0.02%), and Info Tech (-1.3%).

 Fixed Income and FX — With the dollar’s TWI rising by 1.5% in May, our EM currency proxy fell by 1.0%, accounting for around 30% of the 3.0% dollar-adjusted decline in EM equities in the month. Bond yields eased slightly last month, with the EMBI+ average yield falling to 5.97% while our newly-launched alternative measure of the discount rate, the MSCI-Weighted EM Debt Yield, ended the month at 4.57%.

Tidak ada komentar:

Poskan Komentar