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.

Currency Volatility Falls Before U.S. Jobs Amid Ukraine Tensions

A gauge of currency swings slid for a second day as traders monitor the Ukraine crisis and before the U.S. reports figures for February employment tomorrow.

The yen fell to a one-week low yesterday versus the dollar as Russian and U.S. diplomats met in Paris to discuss the crisis in Ukraine. The dollar maintained losses against a basket of major peers after a private report showed hiring rose less than forecast, adding to concern harsh winter weather hampered economic growth. The euro held a decline versus the pound before the European Central Bank meets today.

Deutsche Bank AG’s index measuring three-month implied volatility for nine major currency pairs, which is still trading, fell eight basis points to 7.50 percent. A decline would mark a second day of losses following a nine basis point drop on March 4.

The yen was little changed at 102.36 per dollar as of 8:42 a.m. in Tokyo after touching 102.55 yesterday, the weakest since Feb. 26. It traded at 140.56 per euro from 140.49. Europe’s 18-nation currency was little changed at $1.3732. The euro bought 82.15 pence after losing 0.4 percent to 82.13.

The Bloomberg Dollar Spot Index retreated yesterday for the first time in three sessions, falling 0.1 percent.

(Source: Bloomberg)          

Asian Stocks Drop as China Manufacturing Gauge Falls

Asian stocks fell, dragging the regional benchmark index down from an almost one-month high, after a Chinese manufacturing index dropped more than estimated.

Newcrest Mining Ltd., an Australian gold producer, lost 4.8 percent in Sydney as futures on the precious metal slid. Naver Corp. (035420) sank 5.9 percent in Seoul amid concern an expansion at WhatsApp Inc. following its acquisition by Facebook Inc. would curb sales at the South Korean Internet site. China Petroleum & Chemical Corp. surged 6.9 percent in Hong Kong after Asia’s biggest oil refiner said it’s seeking private investors.

The MSCI Asia Pacific Index lost 1 percent to 136.15 as of 10:23 a.m. in Hong Kong, as all 10 industry groups declined. A preliminary reading for a Purchasing Managers’ Index fell to a seven-month low, a report today showed, adding to signs of a factory slowdown that will limit growth. The International Monetary Fund, in a staff report prepared for central bankers and finance ministers from the Group of 20, said yesterday “significant downside risks remain” for the world economy.

(Source: Bloomberg)

Most Asia Stocks Fall Led by Consumer Shares; Bridgestone Sinks

Most Asian stocks fell, with the regional benchmark index sliding from a three-week high, as consumer companies led declines.

Panasonic Corp., the consumer-electronics maker pivoting toward products for cars and homes after record losses, lost 2.1 percent in Tokyo. Bridgestone Corp. dropped 3 percent after the Japanese tiremaker forecast slower-than-expected full-year profit growth. CapitaLand Ltd. fell 1 percent in Singapore after Southeast Asia’s biggest developer reported a 46 percent decline in fourth-quarter profit. Seek Ltd. jumped 19 percent in Sydney after the online hiring company reported an increase in first-half profit and said a unit will acquire a rival website.

The MSCI Asia Pacific Index slipped 0.2 percent to 137.28 as of 11:15 a.m. in Tokyo, falling for the first time in four days. About five shares fell for every four that rose on the gauge. The market value of global equities rose to $62.1 trillion on Feb. 17, above the level reached at the end of December, data compiled by Bloomberg show.

Japan’s Topix (TPX) fell 0.4 percent today on volume that was 14 percent below the 30-day intraday average. The gauge rose the most in the five months yesterday after the Bank of Japan doubled a growth funding facility.

South Korea’s Kospi index slid 0.4 percent. China’s Shanghai Composite Index dropped 0.3 percent, while Hong Kong’s Hang Seng Index lost 0.1 percent. Taiwan’s Taiex index was little changed. Australia’s S&P/ASX 200 Index (AS51) rose 0.3 percent and New Zealand’s NZX 50 Index added 0.1 percent. Singapore’s Straits Times Index climbed 0.5 percent.

(Source: Bloomberg)                       

Fed Isolates Weather From Weakness as Growth Cools: Economy

This year’s harsh winter is causing the pace of U.S. economic growth to fall along with the mercury.

February payrolls may be the next victim of the severe weather that has gripped the country during the last three months, following disappointing data on retail sales and manufacturing in January. This week’s snow and ice storms in the eastern U.S. came during the period the Bureau of Labor Statistics refers to in its monthly employer survey, which it uses to calculate changes in payrolls, hours and earnings for the jobs report scheduled for release March 7.

That may make it difficult for Federal Reserve policy makers to gauge whether signs of weakness can be chalked up to the elements, or if the economy has taken a turn for the worse. Firms from Goldman Sachs Group Inc. to Morgan Stanley have reduced their estimates for first-quarter U.S. growth, after forecasters entered the year with the most optimism since 2010.

To be counted as employed in the BLS survey, workers on non-farm payrolls must have received pay for some part of the earnings period that includes the 12th of the month. The winter storm may affect the February survey results if large numbers of workers had to stay home for the entire period without pay and weren’t counted.

(Source: Bloomberg)

Hong Kong Stocks on Course for Highest Close This Month

Hong Kong stocks rose as investors await Federal Reserve Chairman Janet Yellen’s first testimony on monetary policy. Energy companies led gains.

The Hang Seng Index (HSI) advanced 0.7 percent to 21,719.15 as of 9:35 a.m. in Hong Kong, heading for its highest close since Jan. 30. The Hang Seng China Enterprises Index (HSCEI), also known as the H-share index, added 0.6 percent to 9,675.68. CLP Holdings Ltd., a Hong Kong-based electricity provider, rallied 3.2 percent, while Cnooc Ltd., China’s biggest offshore oil and gas producer, climbed 2.3 percent.

The Hang Seng Index entered a so-called correction last week, falling more than 10 percent from a high in December after China and U.S. factory data disappointed investors. The gauge slid 7.4 percent this year through yesterday, the worst performer after Japan’s Nikkei 225 Stock Average among 24 developed markets tracked by Bloomberg.

The Hong Kong benchmark index traded at 9.6 times estimated earnings yesterday, approaching levels seen during China’s cash crunch in June. The H-share gauge is down 11 percent this year through yesterday. Global equity losses in 2014 peaked at $3 trillion on Feb. 4 and have since narrowed to $1.6 trillion, data compiled by Bloomberg show.

China may report as early as today that new yuan loans climbed to 1.1 trillion yuan ($182 billion) in January from 482.5 billion yuan the previous month, according to economists surveyed by Bloomberg. Data on aggregate financing and money supply are also due this week, with no fixed date for release. A report on January trade is due tomorrow, before inflation data on Feb. 14.

(Source: Bloomberg)