img-news

Indonesia Market Today 20 December 2018

  • Regular
  • Asian Market
  • 3 months ago
  • 58

A. Indonesia Morning Market Review
Thursday (12/20/2018). After the DJIA had gained around +382 points before the announcement of the FFR increase of 25 bps and the projection of US GDP in 2019, but after the announcement, DJIA fell sharply around -513 points and then recovered and closed down -352 points (-1.5%). The downfall factor of the DJIA, EIDO -1.01%, Gold -0.51% and the fall of the Regional Stock Exchange this morning were negative factors for JCI today.

The Federal Open Market Committee (FOMC) decided to raise the target range of the benchmark interest rate, FFR to 2.25% - 2.50%. This increase marks the Fed's interest rate increase to 4 times in 2018 and step 9 since the end of 2015. The Fed further expects the US economy to grow by 3% this year, slightly lower than the 3.1% estimate in September. The Fed also revised down its estimate for US economic growth in 2019 to 2.3% from the previous estimate of 2.5%. With the forecast of a slowdown in the US economy, the Fed estimates 2 times a rate increase in 2019, down from the estimated 3-fold increase in September.


B. Indonesia Corporate News
1. PT Chandra Asri (TPIA)
The company prepares capex in the range of US $ 400 million-US $ 450 million for 2019. Capex will be used to construct the Chandra Asri Petrochemical II (CAP II) factory complex and to build a new polyethylene plant with a capacity of 400 kilo tons per year (KTA) with an estimated investment of US $ 380 million.

2. PT Toba Bara Sejahtra (TOBA)
The company targets the production of 5 million tons - 6 million tons of coal throughout 2018. Until September 2018 the company has succeeded in producing 3 million tons of coal. Most TOBA coal sales are still in Taiwan.

3. PT Waskita Karya (WSKT)
The company increased its paid-up capital and placed it in its subsidiary PT Waskita Toll Road (WTR) in the amount of Rp2,492,502,831,016 in cash where the increase in the company's ownership became 79.88% or equivalent to 11,636,863 shares worth Rp11,636,863,000,000 at 18 December 2018.

4. PT Trans Power Marine (TPMA)
The company budgeted for the 2019 capex of US $ 5 million - US $ 10 million. It is planned that the capex will be used to procure 3 sets of tugboats and barges of 300 feet with a capacity of 7,500 tons. So far the company has 34 sets of self-owned tugs and 6 sets of charter vessels and this alone is still not enough to transport all the tenders that the company has obtained.

5. PT Ace Hardware (ACES)
The company plans to open 20 new outlets in 2019 or fewer than 2018 for 32 outlets.

6. PT United Tractors (PAMA)
The company sets a target of around 950 million bcm - 980 million bcm for overburden removal in PT Pamapersada Nusantara's subsidiary in 2019. While OB PAMA volumes in January-October 2018 grew 21.67% yoy to 809.1 million bcm from the previous 665 million bcm.


C. Market Statistics
DJIA -352 -1.5% 23323
NASDAQ -147.1 -2.2% 6636
GOLD -6.38 -0.51% 1246.85
OIL +0.95 +2.05% 47.36
COAL (Dec/Newcastle) +0.1 +0.1% 101.6
COAL (Dec/Rotterdam) -0.15 -0.17% 88.25
NICKEL +140 +1.29% 10977.5
TIN +137.5 +0.72% 19292.5
CPO (Feb) +31 +1.96% 2153
EIDO -0.25 -1.01% 24.49
US 10yr -0.047 -1.66% 2.7780
INDO 10yr -0.0559 -0.68% 8.225
INDO CDS 5yr -1.785 -1.34% 131.15
TLK 52 (3754)
IDR (Spot) 14559
IDR (Investing, 20/12/18/Fut, 04.50) 14521

IDX Range.      :  6,123 - 6,195
USD/IDR Range: 14,390 - 14,520


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