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Indonesia Market Today - 3 June 2020

A. INDONESIA MORNING MARKET REVIEW

Wednesday (03/06/2020). Demonstrations, riots and looting that occurred in many US States did not affect the DJIA, on the contrary the DJIA strengthened to the highest level for 1 month after an overnight rally of + 1.05% because investors were directed to US "reopening economy" after being hit by the Corvid19 pendemic and if combined with a sharp strengthening of EIDO by + 5.15% then it has the potential to be a positive sentiment driving the strengthening of the JCI toward the 4,900 level in trading this Wednesday amid the continuing increase in the number of victims who are infected and killed, especially if the PSBB is relaxed, where Corona Virus has infected 27,549 people (estimated to reach 30,000 people infected) with a death toll of 1,663 people killed and to 1,800 people killed, (Fatality Rate of 6.04%).

In addition, rising commodity prices such as: Oil + 3.68%, Tin + 1.94%, Nickel + 2.28% and CPO + 2.11% have the potential to be catalysts driving up the JCI and commodity-based shares in trading this Wednesday.

Knowing that the IHSG has the opportunity to continue strengthening, amid foreign investors starting to book Net Buy and valuating that there are still quite a lot of interesting stocks to buy, we recommend being very selective if investors want to buy or swing trade then they can focus on stocks from the Coal, Infrastructure sector, Banks, Chicken Feed, Cement, Consumer, IT, CPO and Property in trade this Wednesday.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Bank BTPN (BTPN)

The company posted a net profit in the first quarter of 2020 growing 48.46% to Rp752.11 billion from the same period in 2019 of Rp506.60 billion. Furthermore, interest income and net sharia income in the first quarter amounted to Rp2,923 trillion, up 19.91% from Rp2,437 trillion in the same period in 2019.

 

2. PT Merck Sharp Dhome Pharma (SCPI)

Persero in the first quarter of 2020 managed to record a net profit of Rp86.09 billion, up 33.38% from the first quarter of 2019 of Rp64.54 billion. Furthermore, the company booked 92.41% sales growth to Rp698.63 billion in the first quarter of 2020 compared to the same period in 2019 of Rp363.08 billion.

 

3. PT Indoritel Makmur (DNET)

As of December 31, 2019, the company recorded a net profit of Rp523.05 billion, up 80.72% from a profit of Rp289.41 billion in the same period in 2018. Furthermore, the company`s revenue of Rp257.79 billion rose 98.62% of revenue Rp129.79 billion in 2018, but the company also received a share of profits from associates and joint ventures which also rose significantly by 59.64% to Rp675.69 billion from Rp423.25 billion.

 

4. PT Soechi Lines (SOCI)

The company posted a net income of US $ 157.27 million as of December 31, 2019, an increase compared to the same period in 2018 of US $ 132.40 million. Meanwhile, until the end of 2019 profit for the year attributable to owners decreased to US $ 9.38 million compared to the same period in 2018 of US $ 13.38 million. 

 

 

C. MARKET STATISTICS 

*DJIA +267.6 +1.05% 25742*
*NASDAQ +56.33 +0.59% 9608*
*GOLD -16.7 -0.95% 1734.10*
*OIL +1.31 +3.68% 36.87*
*COAL (July/Newcastle) +0.20 +0.36% 56.50*
*NICKEL +287.5 +2.28% 12870*
*TIN +305 +1.94% 16010*
*CPO (Jul`20) +49 +2.11% 2367*
*EIDO +0.92 +5.15% 18.80*
US 10yr +0.0180 +2.72% 0.6800
INDO 10yr -0.089 -1.17% 7.4903
*INDO CDS (5yr) -4.258 -2.71% 152.865*
*TLK 45.02 (3245)*
IDR (Spot) 14,415
IDR (Bloomberg, 03/06/20/Fut, 04.45) 14,415

*IDX Range : 4,824 - 4,906*
*USD/IDR Range: 14,350 - 14,480*

 

 

D. STOCK WATCHLIST

ITMG, JSMR, JPFA, BBTN, INTP, BMRI, ICBP, MTDL, LSIP, PWON.

 

 

 

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