img-news

Indonesia Market Today - 18 December 2018

  • Regular
  • Asian Market
  • 3 months ago
  • 47

A. Indonesia Morning Market Review
Tuesday (18/12/2018). After last week Friday, DJIA fell sharply by -2.02%. At the beginning of this week, the DJIA fell again sharply by -2.11% due to pressured worries about slowing economic growth ahead of the Federal Reserve's policy meeting. Even the S&P 500 Index touched its lowest level since October 2017. If added to the negative EIDO fall -2.01%, Oil -3.87%, Tin -0.66% & Nickel -0.36% and the fall of the Regional Exchange this morning, the JCI we estimate to fall back again today.

INDONESIA OVERSEAS DEBT
Indonesia's foreign debt increased 5.3% yoy at the end of October 2018 to around Rp 5,227 trillion or US$ 360.5 billion (assuming the exchange rate was IDR 14,500). When compared with September 2018 which amounted to US$ 359.7 billion, Indonesia's foreign debt (Utang Luar Negeri) also rose 0.19%. Private debt, including state-owned enterprises, reached 182.2 billion US dollars, up 7.7% (yoy). As of the end of October 2018, the private external debt consisted of US $ 32.5 billion in financial institutions and US $ 10 billion in non-bank financial institutions. While the debtors are not financial institutions amounting to 139.6 billion US dollars. The position of private external debt at the end of October 2018 grew 7.7% (yoy), an increase compared to the previous month which grew 6.7% (yoy), mainly driven by growth in external debt in the electricity, gas, steam / hot water (LGA) sector.

POSSIBLE SLASHED "AGAIN" FOR THE GLOBAL GROWTH.
After earlier in October the IMF cut its global growth forecast to 3.7% for 2018 and 2019 from a previous estimate of 3.9% in July. But due to trade friction between China and the US has affected business and investment confidence in Asia, the IMF has rated the possibility of slashing the forecast for global economic growth again in January.


B. Indonesia Corporate News
1. PT Waskita Karya (WSKT)
The Chairperson of the KPK explained, the estimated state losses from alleged corruption committed by two employees of PT Waskita Karya reached Rp 186 billion. This amount is the result of temporary BPK calculations. The KPK explained, Fathor and Yuly allegedly appointed 4 subcontractor companies to carry out fictitious work on a number of construction projects developed by the company. The KPK suspects that the 4 subcontractor companies received fictitious jobs from some packages on 14 projects.

2. PT Timah (TINS)
The company revised this net profit target throughout 2018. Previously, the net profit growth target for this year rose 99% yoy to Rp 1 trillion. However, because a quarter of the target was reached in October, the target was reduced to Rp. 900 billion. On the other hand, the company will be more aggressive in maneuvering in 2019 by setting up a capex of 15% to Rp. 2.3 trillion compared to 2018 where the capex will be used to enlarge capacity and develop investments such as production equipment, maintenance.

3. PT Astra International (ASII)
The company predicts that it needs a capex of around IDR 20 trillion in 2019, by setting aside investment opportunities that can emerge next year.


C. Market Statistics
DJIA -507.53 -2.11% 23592
NASDAQ -156.93 -2.27% 6753
GOLD +8.65 +0.7% 1250.05
OIL -1.99 -3.87% 49.48
COAL (Dec/Newcastle) -0.7 -0.68% 101.6
COAL (Dec/Rotterdam) +0.1 +0.11% 88.6
NICKEL -40 -0.36% 10997.5
TIN -127.5 -0.66% 19250
CPO (Feb) -16 -0.75% 2122
EIDO -0.5 -2.01% 24.33
US 10yr -0.034 -1.18% 2.8570
INDO 10yr +0.0232 +0.28% 8.2794
INDO CDS 5yr -1.58 -1.16% 134.12
TLK 50.68 (3695)
IDR (Spot) 14580
IDR (Investing, 18/12/18/Fut, 05.00) 14587

IDX Range.      :  6,015 - 6,107
USD/IDR Range: 14,530 - 14,630


D. Stock Picks
1. BBCA
52Week Price Range: 20600 - 26975
Monthly RLine: 29900 - 28050 - 27050
Monthly PP: 25200
Monthly SLine: 24200 - 22350 - 21350
Summary: STRONG BUY

2. ICBP
Daily Price Range: 9900 - 10325
Daily RLine: 10266 - 10108 - 9966
Daily PP: 9808
Daily SLine: 9666 - 9508 - 9366
Summary: STRONG BUY

3. JSMR
Daily Price Range: 4560 - 4680
Daily RLine: 4720 - 4660 - 4620
Daily PP: 4560
Daily SLine: 4520 - 4460 - 4420
Summary: STRONG BUY

4. HOKI
52Week Price Range: 322 - 1015
Monthly RLine: 979 - 912 - 784
Monthly PP: 717
Monthly SLine: 589 - 522 - 394
Summary: STRONG BUY


Smart Trend Team (GR)
Disclaimer On