0931 GMT [Dow Jones] Indonesian shares end slightly higher on gains in second-liner stocks, but likely to move lower Monday as profit taking expected to reemerge, dealers say; main index ends +0.2% at 2742.97; with 102 gainers, 83 decliners; 4.6 billion shares change hands valued at IDR4.8 trillion. "The potential for the market to slide is bigger than to rise Monday as most blue chips are expensive already," says Sucorinvest's director Adrian Rusmana; Perusahaan Gas (PGAS.JK) closes +3.7% at IDR4,225, Indocement (INTP.JK) +1.0% at IDR14,150, Indofood (INDF.JK) +1.8% at IDR4,150; meanwhile, Telkom down 1.2% at IDR8,250, Indosat down 2.4% at IDR6,000; 2700-2780 tipped for main index Monday. i-made.sentana@dowjones.com)
0908 GMT [Dow Jones] USD/IDR gives up earlier gains as foreign investors buy local currency to settle recent stock, bond purchases, dealers say; pair at 9,105 vs 9,120 late yesterday, off 9,130 intraday high. "The dollar sellers were mostly custodian banks here," a dealer says; 9,095-9130 range tipped Monday. (i-made.sentana@dowjones.com)
Indonesia’s Pricier Stocks Than China Won’t Slow Gain, AMP Says
(Bloomberg) -- Indonesia stocks may rise a further 15 percent this year, extending Southeast Asia’s best rally as the nation’s earnings prospects allow for prices that are higher than those in China, according to AMP Capital Investors.
0448 GMT [Dow Jones] Nikkei up 0.6% at 10,807.01, little changed from morning close of 10,815.52, with investors staying on sidelines before 3-day weekend; Nikkei may hover near March futures and options settlement price (last Friday) of 10,808 for some time, says trader at Japanese brokerage. "At least until U.S. jobs data is out (in April), the Japanese market may see few trading cues as investors won't take large positions before the fiscal year ends (this month)," he says. Nikkei recouping some of yesterday's losses, but investors still cautious due to Greece's debt problems. Exporters generally higher as USD/JPY stable (trading near 90.50); Honda (7267.TO) up 2.2% at Y3,270, Kyocera (6971.TO) up 1.4% at Y8,680, Canon (7751.TO) +2.0% at Y4,105, Sony (6758.TO) +2.2 at Y3,505. (ayai.tomisawa@dowjones.com)
0717 GMT [Dow Jones] HSI +0.1% at 21,358.03; HK property stocks offering support as investors continue to buy into sector due to expectations city state's interest rates will remain low for a while, says Tanrich's Jackson Wong. Among HK properties, Cheung Kong (0001.HK) +1.0% at HK$99.60, Henderson Land (0012.HK) +1.1% at HK$57.20, Hang Lung Properties (0101.HK) +1.1% at HK$31.85. Thinks HSI may test 21,800 by end-March as investment backdrop remains positive. Chalco (2600.HK) +4.3% at HK$8.48, after parent Chinalco signs deal with Rio Tinto (RIO.AU) to develop Anglo-Australian miner's massive Simandou iron ore project in Guinea. Volume thin at HK$34.53 billion, while index remains in narrow 130-point band ahead of weekend. (susanna.tai@dowjones.com)
0900 GMT [Dow Jones] After several failed attempts to break and hold above 1.53 this week GBP/USD has a heavy feel to it Friday and sinks to a low of 1.5140. Overnight dovish comments from arch MPC hawk Andrew Sentance that there are some risks of a double-dip recession in the UK haven't helped the pound, while position trimming ahead of the weekend's latest election polls is also a likely contributor to the fall. Next support comes in 1.5105. (gary.stride@dowjones.com)
0847 GMT [Dow Jones] Look for USD/JPY to fall under 90 next week, says RBS. The bank reckons the pair will be pushed lower as the fiscal year end approaches and corporate repatriation flows increase into Japan. But, with the JPY still being undermined by the BOJ's recent easing, the pair is likely to find support under 90, the bank adds. USD/JPY at 90.47. (nick.hastings@dowjones.com)
LONDON (Dow Jones)--The Swiss franc is edging up to its strongest level on record against the euro, putting market watchers on alert for a fresh intervention from the Swiss National Bank to shove it back down. An apparent softening in the SNB's opposition to Swiss franc strength has boosted the currency in the past two days, leaving the euro nudging below CHF1.4350 in European trading hours Friday--its weakest level in 16 months. Now, with the euro edging ever closer to its all-time low against the franc at CHF1.43, the risk of an intervention to slow the climb is building. "The speed at which the euro has been easing against the Swiss franc over the past few days is likely to be far too high for the central bank's taste," said currency analysts at Commerzbank in Frankfurt Friday. At 1005 GMT, the euro was falling fast at CHF1.4339, from around CHF1.44 late in New York Thursday.
0927 GMT [Dow Jones] The USD is higher and the EUR is backing down from earlier gains as Greece once again weighs on market sentiment. Reports that Germany will support an IMF package for the debt-ridden country appears to have only added to the confusion over how and when aid will emerge. The GBP is hit by warning from a BOE MPC member that there could be a double-dip recession. The market remains on alert for SNB intervention as the EUR continues to slip against the CHF. The USD is up at Y90.48 while the EUR is down at $1.3592. The GBP is down at $1.5142 while the EUR is down at CHF1.4365.(nick.hastings@dowjones.com)
0923 GMT [Dow Jones] EUR/USD's retracement stalls ahead of 1.38 as daily studies approached overbought levels, notes RBC Capital Markets George Davis. The spot now trades at 1.3591 and Davis says a daily close below 1.3657 would produce a bearish short-term trend reversal, exposing the recent low of 1.3437. (gary.stride@dowjones.com)
0332 GMT [Dow Jones] NZD/USD sticking to fairly tight range, last 0.7145 vs 0.7136 late yesterday; "It has been pretty steady today, it's obviously not falling back. There is still a little bit of risk appetite out there. More importantly, there is still a little bit of anti U.S. dollar sentiment," says Custom House Western Union dealer Chris Hunter. Tips support to hold at 0.7125, resistance around 0.7170. Says ongoing risk appetite slightly surprising given concerns about Greece, in particular after talk country could seek aid from IMF. Adds given absence of major data in offshore markets later in global day market attention will remain on Greece. (rebecca.howard@dowjones.com)
0455 GMT [Dow Jones] EUR up vs USD, JPY as Japanese short-term investors trim EUR-downside bets as hedge against outside chance of any rises into early next week; but buying merely safety precaution ahead of Japanese market closure Monday, says senior FX dealer at major European bank. "The Japanese players buying the euro today are doing so just because Monday is a market closure in Japan, and they don't want to be caught without any hedges just in case there would be any euro-positive developments while they're on holiday." But says EUR downtrend intact. Other dealers concur. Senior trader at Japan trust bank tips any further EUR/USD rises capped at 1.3650 vs last 1.3623, EUR/JPY cap at 123.50 vs 123.24.(andrew.monahan@dowjones.com)
Platinum May Extend Gain to $1,662 an Ounce: Technical Analysis
(Bloomberg) -- Platinum, trading at an eight-week high, may “soon reach” $1,662 an ounce, according to technical analysis by Commerzbank AG.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPTj_xYvVFI4
Fed May Boost Discount Rate Before Next Meeting, Economists Say
(Bloomberg) -- The Federal Reserve may increase the discount rate, charged on direct loans to banks, before the next meeting of the Federal Open Market Committee on April 28, economists said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aK7bO_5CD9gU
Citigroup Says Buy Pounds on Rally to $1.57: Technical Analysis
(Bloomberg) -- Investors should increase holdings of the British pound to bet on a rally to $1.57 after it closed yesterday above $1.52, Citigroup Inc. said in a report citing technical indicators.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abuWYWcs_oSo
Pound May Advance to Month High Against Yen: Technical Analysis
(Bloomberg) -- The pound may rise to a one-month high against the yen after the U.K. currency broke through its 20-day moving average, according to Gaitame.com Research Institute Ltd., citing trading patterns.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aArvE37074yE
Goldman Raises Commodity Forecast, Favors Oil, Copper
(Bloomberg) -- Goldman Sachs Group Inc. raised its 12-month outlook for returns from commodities to 17.6 percent and said the biggest gains would likely be in crude, copper, corn and platinum.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZOn8Zv65SI0
Google, Goldman Sachs Are Top Stock Picks for Laszlo Birinyi
(Bloomberg) -- Investors should buy Google Inc. because of its growth opportunities and Goldman Sachs Group Inc. given that it’s a “well-managed company,” said Laszlo Birinyi, the founder of Birinyi Associates Inc.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQnOxTRbyvxM
Asian ‘Vice’ Stocks Will Trump Diamonds, Nomura Says
(Bloomberg) -- Gambling, tobacco and alcohol stocks will trump diamonds and gold as the best “hedge” against excessive inflation or deflation in Asia, according to Nomura Holdings Inc.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aeyzmwUoXv.g
O'Rourke Sees S&P 500 Above 1,200 in a Couple of Months: Video
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aCXit4wnk0hc
Euro May Fall to $1.30 as U.S. Outpaces Europe, Barclays Says
(Bloomberg) -- The euro may fall to $1.30 by June as Europe’s economic recovery stalls and Greece’s debt problems remain unresolved, Barclays Plc said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=agjSNoXb28Io
Commodities Attract $3.98 Billion, Barclays Estimates
(Bloomberg) -- Investors put $3.98 billion into commodities last month, almost 29 times the amount in January, favoring investments linked to indexes over exchange-traded products, Barclays Capital said.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aHvEmN10W8Hc
Halftime Report: Is Fed About To Hike Discount Rate, Again?
The market melt-up appeared to be losing steam on Thursday due to chatter the Fed may hike the discount rate again, after the bell.
http://www.cnbc.com/id/35931221
Rising Oil Is 'Beginning of Major Disaster' For Stocks
Oil rose above $82 a barrel on Wednesday on a recovery in demand in the U.S. before dipping slightly on Thursday. Meanwhile, the S&P reached its highest since October 2008 this week. Can the positive relationship between oil prices and the stock market continue? Rick Szpila of JPMorgan Futures and J.J. Burns of J.J. Burns & Company discussed their outlooks.
http://www.cnbc.com/id/35911311
Big Banks vs. Regionals—Where to Invest: Pros
Big banks versus regionals—which is the better place for investors put their money? Matt McCormick, banking analyst and portfolio manager at Bahl & Gaynor Investment Counsel, and Dan Fitzpatrick, president of Stock Market Mentor, discussed their sector outlooks.
http://www.cnbc.com/id/35931328
Euro May Climb Toward $1.3840, SocGen Says: Technical Analysis
(Bloomberg) -- The euro may advance against the dollar if it stays above so-called support levels including the March 15 low of $1.3640, Societe Generale SA said, citing technical indicators.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aycBcX4P9XJo
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