Tag Archives: confidence

ANALYSTS VIEWS – Jakarta hotel bomb blasts

in.reuters.com

ANALYSTS VIEWS – Jakarta hotel bomb blasts

REUTERS – Near-simultaneous bomb blasts ripped through the JW Marriott and the Ritz-Carlton hotels in Jakarta’s business district on Friday, killing nine people and injuring 42 including foreigners and Indonesians, police said.

A car bomb had also exploded along a toll road in north Jakarta, police said. Indonesia’s Metro TV said two people had been killed. No further details on that blast were available.

The bomb attacks, the first in several years, could severely dent investor confidence in Southeast Asia’s biggest economy. The Indonesian government had made considerable progress in tackling security threats from militant Islamists in recent years, bringing a sense of greater political stability.

Islamist militants from the regional Jemaah Islamiah organisation were blamed for numerous attacks between 2002-2005 in Indonesia, including bombings on the island of Bali in 2002 that killed 202 people. Many militants have since been arrested.

CALLUM HENDERSON, CHIEF GLOBAL CURRENCY STRATEGIST, STANDARD CHARTERED BANK, SINGAPORE

“This is a tragic event. Market reaction to date has been relatively muted in anticipation that the government will stay on course and that policies will remain unchanged.

“Indonesia remains a fundamentally good story, thanks in large part to the excellent policies of the government in the last few years.

“It will take time to stabilise again, but we remain overweight on the rupiah.”

SEAN CALLOW, CURRENCY STRATEGIST, WESTPAC, SYDNEY

“I would say it damages foreign investor confidence since the attacks appear aimed at Westerners, but not shatter it, so long as there is no further violence for some time.

“Bank Indonesia should be able to keep a lid on dollar/rupiah short term, but it will have a lasting negative impact multi-week, multi-month.

“It solidifies my short-term bias towards buying dollar/rupiah on dips, especially since the rupiah is still up 18 percent since March.”

TIM CONDON, HEAD OF ASIA RESEARCH, ING, SINGAPORE

“I liken it to North Korea risks to South Korean assets. Typically it causes a short spike in selling pressure — but the operative word is short.

“Indonesia is vulnerable and the attacks are negative but people know these are impossible to predict and they are part of the economic landscape. It doesn’t totally eclipse all of the other investor positives — the economic fundamentals and the political fundamentals.

“The cost of protecting debt from Indonesia , one of the most frequent Asian sovereign issuers in the offshore market, was unchanged at 280/295 basis points.”

RAYMOND TANG, CHIEF INVESTMENT OFFICER, CIMB ASSET MANAGEMENT, KUALA LUMPUR

“We are still positive on the economy and the developments there, despite the bombings. On a long-term perspective, we have not changed our view.

“We’re positive on the banking, the resources and the consumer sectors.

“You’ll get kneejerk reaction but if you look at how the Indonesian market has responded up to now, it’s down 1.3 percent and the currency is down half a percent … I think people are more positive than negative.”

KEVIN O’ROURKE, POLITICAL RISK ANALYST, REFORMASI WEEKLY

“I think the attacks are devastating for the image of security that Indonesia has built up painstakingly over the past four years.

“The attack is particularly severe for investor confidence because it took place despite strenuous counter-terrorist efforts by the government and has affected the hotels that are seen to be among the most secure in Jakarta and also either killed or wounded numerous prominent expatriate businesspeople.” O’Rourke said he suspected Jemaah Islamiah was responsible.

“It’s an explosion in a hotel. Jemaah Islamiah perpetrate explosions in hotels.”

WAWAN PURWANTO, ANALYST AT NGO NATIONAL EMPOWERMENT BOARD, JAKARTA “It is a high-tension period and it is likely to remain like that until October when the president is inaugurated.

“We already predicted this as we have seen some unknown movements after the election, like the incidents in Papua. So if something like this happens, it’s not a surprise.

“We will not make any assumption (as to who is behind the attacks) before seeing hard evidence.”

PRAKRITI SOFAT, ECONOMIST AT HSBC, SINGAPORE

“After the elections going off so peacefully, the bomb blasts have come as a shock. We don’t have all the details now but investors will be keeping a close eye on this one.”

JOANNA TAN, ECONOMIST, FORECAST PTE, SINGAPORE “I think investor confidence will definitely be shaken after this but ultimately, the positives from SBY continuing a second term and relatively good performance in the economy should keep investor confidence supported.”

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Zurich heap pressure on under-fire Leonardo with Milan win

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Zurich heap pressure on under-fire Leonardo with Milan win

MILAN, Italy (AFP) – FC Zurich pulled off a famous and unlikely victory as Finland’s Hannu Tihinen scored the only goal in a 1-0 victory over AC Milan in the Champions League at the San Siro on Wednesday.

And this latest set-back will surely have piled even more pressure on under-fire Milan coach Leonardo.

In four home matches this season Milan have scored only one goal, also winning only once, while they have fared little better on their travels.

But the significance of this home defeat to European football minnows can hardly be understated, particularly as Milan’s next two Group C games will be against free-scoring Real Madrid.

And Leonardo admitted his team have lost a certain aura.

“Of course right now things are not simple, a win would lift our confidence and we need to start getting the results to do that,” he said.

“We’re struggling to do what we want to do, we have the desire but we’re not managing to do it.

“If you think about today, our performances and our results won’t be putting fear into the rest of the world.

“But don’t forget we beat Marseille 2-1 and with the same team. I believe in this team and I believe we have the resources to get out of this situation.”

Having also won only two of six league matches, already Milan’s pretentions both at home and in Europe look decidedly fragile.

Leonardo began this game under pressure and the first half would have made uncomfortable viewing for the Brazilian.

Zurich coach Bernard Challandes admitted his team had at times been under the cosh but said they deserved their result.

“It’s clear that we’re very, very happy to have beaten Milan away from home, it’s an historic victory for us,” he said.

“We’re a small team and we’ve won away to Milan. In the last few years we talked about commitment and we got a lot of that tonight.

“Lately results haven’t been what they should be, so I’m proud but we were also a little bit lucky.

“We needed that because in the second half Milan put us under a lot of pressure, we had a bit of luck but that shouldn’t deflect from the team’s credit because they deserved it.”

On seven minutes Milan full-back Ignazio Abate mishit a cross from the right that almost caught out Zurich goalkeeper Johnny Leoni, who bizarrely reacted by kicking the ball off his line.

But on 10 minutes the visitors were in front with a goal from a former West Ham player that the Premier League club‘s current manager would have been proud of.

Milan Gajic swing over a corner and Tihinen arrived unmolested at the near post to flick the ball with his heel between his legs and past Marco Storari in the Milan goal — a near copy of a goal Hammers boss Gianfranco Zola scored for Chelsea against Norwich in 2002.

It was an open game and after Clarence Seedorf had volleyed over for the hosts, Johan Volanthen escaped on the counter-attack and pulled the ball back for Xavier Margairaz, who failed to keep either his shot or his head down.

Leonardo wasted no time in trying to fire up his side, bringing on former world player of the year Ronaldinho for Seedorf at the break.

Just before the hour mark Inzaghi almost levelled again as he met a dangerous Andrea Pirlo free-kick with his head but Leoni made a flying one-handed save.

Moments later Ronaldinho sent Pato in on goal with a sumptuous through ball but although his young compatriot lifted the ball over Leoni, it dropped wide of the post.

Leoni then blocked a close range Inzaghi shot with his foot and Storari kept out a drilled Margairaz effort with his boot.

Milan kept pushing and on 88 minutes captain Massimo Ambrosini shaved the outside of the post with a low strike from 20 yards.

With almost the last kick of the match Gianluca Zambrotta crashed a stunning shot against the Zurich upright but the Swiss deserved that bit of luck and the three points to boost their qualification hopes after their 5-2 home defeat to Real.

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Hughes ready for Lord’s challenge

uk.reuters.com

Hughes ready for Lord’s challenge

LONDO  – Australia opener Phillip Hughes will play his first Lord’s test on Thursday fully prepared for anything the England bowlers may hurl at him.

Hughes was dismissed cheaply in both innings by Steve Harmison in a warmup game before the drawn first test in Cardiff. Harmison has been added to the England squad for the Lord’s match.

Hughes will take the confidence of a winning duel with the most potent new ball attack in the world in South Africa this year when he tamed Dale Steyn and Morne Morkel.

“They were the second best team in the world coming in hard at me and their tails were up after winning the series in Australia,” Hughes told Reuters. “They also came at me hard with the verbals but I said a bit back and enjoyed that contest.

“Morkel and Steyn are two that stand out and I loved that (verbal) contest but ultimately I play the ball not the bowler, whoever is in front of me I will be ready and raring to go.”

It is quite a show of bravado from the 20-year-old who has played just four tests but one that is justified after he beat George Headley’s 79-year-old record by becoming the youngest man to score hundreds in both innings of a test. Hughes made 115 and 160 at Durban.

SELF-BELIEFF

Succeeding after such a challenging introduction to test cricket will give him the self-belief he will need if he comes up against the pace of Harmison again this week after succumbing to Flintoff in Cardiff.

It was not just the twin hundreds that impressed in South Africa but the way he rebounded from a four-ball duck in his first test innings to hit 75 in the second innings.

“The one thing I will take out of that series is how I came back from my four-ball duck,” Hughes said. “In the second innings, when I had Morkel and the rest of them in my face and saying a lot, to get 75 and with having someone like Ricky Ponting batting at the other end, gave me a lot to take away.

“My confidence was very high after that. I could have got another duck but I went out feeling confident and put that duck behind me. I just wanted to play my natural game again.”

Hughes, the son of a banana farmer, said he realised he wanted to play professional cricket at age of 16.

His cricket education developed further this year when he played six weeks with English county team Middlesex.

“I was here for six weeks and the longest break I got was two days, and they were travelling days,” Hughes said of the county treadmill.

“Those six weeks were valuable, just to look at the conditions as I had never been to England before so to get to experience that was great. You hear about English conditions and the swinging ball but to face it first-hand was valuable. After those six weeks I felt very confident.”

Irrespective of any possible battle with Harmison, the England bowlers would be foolish to think Hughes might shrink from a verbal battle.

“I might say a bit back but it depends how I feel,” Hughes said. “I love getting into a contest and I do see that as a contest. It does fire me up so I don’t mind if they give it to me.”

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