0440 GMT [Dow Jones] Current fall in Australian resource stocks is "tactical buying opportunity" for the sector, especially BHP Billiton (BHP.AU) and Rio Tinto (RIO.AU), says Credit Suisse research note. Argues first draft of tax laws "worst case scenario", sees potential for plan "to be significantly watered down." Expects debate will centre on definition of "super profit", argues government position, based on historical cost value of assets, an "accounting gimmick". Valuation based on current market value of assets more suitable, easiest to establish from share price premium to book value. Several miners up from early lows. BHP down 8 cents at A$38.52, Rio up 1.5% at A$68.1
IOH Price at posting:
$1.76 Sentiment: Buy Disclosure: Held
