Update Daily Investment News

India Raises Bank Reserves More Than Estimates; Interest Rates Unchanged

Indonesia in Place Among BRIC Nations, Templeton Says
(Bloomberg) -- Indonesia, Asia’s second-best performing stock market last year, may be ready to join the so- called BRIC group of major emerging nations, according to Templeton Asset Management Ltd. “Indonesia’s political and economic outlook has improved tremendously in recent years,” Templeton portfolio manager Dennis Lim wrote in a note yesterday on Chairman Mark Mobius’s blog. “So clearly, it would not look out of place beside the BRIC countries.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a00wHutwcnho

Top Traders: New Catalyst Could Soon Jolt Market
By: Lee Brodie Producer
Think the TARP tax rocked the market? That doesn’t compare to the next possible jolt it may get.But don’t panic -- this jolt should be bullish and take the market higher. Now make no mistake – this is strictly chatter from the forex markets and they’re “the Wild West,” explains top trader Brian Kelly of Kanundrum. A lot of currency traders talk their books all day long.”

http://www.cnbc.com/id/35129399

Soros Says Chinese Stocks Are ‘Overheating,’ Should Be Slowed
(Bloomberg) -- Billionaire investor George Soros said China’s stock market is “overheating” and policy makers should seek to temper its gains. “Right now, the Chinese market is overheating and they have to slow it down,” Soros said in an interview with Bloomberg Television today at the World Economic Forum’s annual meeting in Davos, Switzerland. “It remains to be seen how successful they are.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aO_v0XAyZffg

Halftime Report: The Road To Correction
By: Lee Brodie Producer
Jittery investors struggled with another dramatic sell-off on Thursday; this time tech [XLK Loading... () ] dragged down the broad market, hurt by outlooks from Motorola [MOT Loading... () ] and Qualcomm [QCOM Loading... () ].Considering the action, what should you be watching as a signal that we're heading down the road to a correction?

http://www.cnbc.com/id/35125697

Gold Still in an ‘Uptrend,’ Superfund Says: Technical Analysis
(Bloomberg) -- Gold, which has fallen about 11 percent from its record last month, is still in a long-term “uptrend,” according to technical analysis by Aaron Smith, a managing director at Superfund Financial Singapore Pte. The attached chart shows gold is trading above its one-year trend line and the metal’s 14-day relative strength index is at about 40. To some technical analysts, a reading below 30 signals prices may rise. The second chart shows bullion, at $1,090.30 an ounce at 6:13 a.m. in London, above its 150-day moving average.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amt9gNimgDvE

Crude Oil Set to Rebound to $79.50 a Barrel: Technical Analysis
(Bloomberg) -- Oil may rise to $79.50 a barrel after holding above its 200-day moving average, according to a technical analysis by Lind-Waldock & Co. in Chicago. Prices will probably “bounce” next week after March oil futures dropped for 10 of the past 12 sessions without sliding below support at the 200-day level, said Richard Ilczyszyn, a senior market strategist with Lind-Waldock, a division of MF Global Ltd. Oil dropped $1.04, or 1.4 percent, to $73.67 yesterday, the lowest settlement since Dec. 21.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRrkDn7W9EoM

S&P 500 May Fall 25%, Volume Surge Shows: Technical Analysis
(Bloomberg) -- The Standard & Poor’s 500 Index may have peaked for the year and begun a 25 percent sell-off, Bay Crest Partners LLC said, citing a surge in trading volume as the U.S. market dropped last week. The plunge was “much more impulsive, much more powerful on the downside,” compared with dips during last year’s rally, said Christian Bendixen, director of technical research at New York-based Bay Crest. “High volume on down days and low volume on up days is a sign of distribution that we’re going to head significantly lower.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=afpT8M.sL8mE

Euro May Slide Against Pound, MIG Says: Technical Analysis
(Bloomberg) -- The euro may weaken more than 7 percent against the pound to 80.10 pence by mid-May, MIG Bank SA said, citing technical indicators. The single European currency might initially depreciate to 81.70 pence, the 50 percent Fibonacci retracement of the 2007- 2008 euro “bull market,” said Paul Day, chief market analyst at MIG in Neuchatel, Switzerland. A “potential ABC Elliott Wave correction” from the 98.03 pence peak of December 2008 signals an extension of the trend, he said. The euro was at 86.28 pence as of 12:48 p.m. in London, down 0.6 percent from yesterday.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aiK0w3_RIJm4

Dollar to Reach Six-Month High Versus Franc: Technical Analysis
(Bloomberg) -- The U.S. dollar is poised to gain toward a six-month high against the Swiss franc, Ueda Harlow Ltd. said, citing trading patterns.The greenback breached a 200-day moving average line against the franc, signaling the U.S. currency’s advance may accelerate in the near term, Toshiya Yamauchi, manager of foreign-exchange margin trading at Ueda Harlow in Tokyo, said in an interview with Bloomberg News. The dollar may climb to 1.08 francs before reaching the 50 percent retracement level of 1.09 on the Fibonacci chart, Yamauchi said.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=azMlORLlOk1s

Emerging Stock Funds Post First Outflows in 12 Weeks
(Bloomberg) -- Emerging market equity funds posted the first net outflows in 12 weeks on concern that China will take further steps to curb inflation and the global economic recovery will slow, according to EPFR Global.Funds investing in developing-nation equities lost $608.5 million overall in the week ended Jan. 27, EPFR Managing Director Brad Durham said. Those focused on Asian stocks outside Japan had the only inflows, with China posting its first gain since mid-December, the fund tracking company said. BRIC funds investing in Brazil, Russia, India and China posted outflows for first time since early September.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEJmjJY3IPTo

Thai Stocks Set to Rebound on RSI Signal: Technical Analysis
(Bloomberg) -- Thailand’s stocks are poised to rebound from the longest losing streak in more than five years as a momentum indicator signals that equities have been “oversold,” according to Tisco Securities Co. The benchmark SET Index’s 14-day relative strength index, or RSI, sank to 27.77 yesterday, the lowest since Oct. 29, 2008, according to a data compiled by Bloomberg. A drop in the RSI, a moving average based on how rapidly prices gain or retreat, below 30 indicates to analysts that prices are set to rebound.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5i7wZqrYpTU

Corporate Bonds Beat Stocks Most Since February: Credit Markets
(Bloomberg) -- Corporate bonds are beating stocks by the biggest margin since February as investors seek the shelter of fixed income amid concern the global recovery is flagging. While the MSCI World Index of stocks in 23 developed countries has lost 3.36 percent including reinvested dividends this month, the Bank of America Merrill Lynch Global Broad Market Corporate index gained 1.64 percentage points. Last month, stocks outperformed bonds by 2.4 percentage points.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2gFj54nR8QA