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Indonesia Market Today - 5 June 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (05/06/2020). A slight increase in the Continuing Jobless Claims data which reached 21.5 million (while consensus of economists 1.775 million) and the sell-off of technology shares at the end of the trading session held the DJIA to strengthen higher because it only rose + 0.05% amid profit-taking over EIDO so that it dropped -3.35%, potentially pushing JCI will be colored "minor profit taking" in trading this Friday amid the continuing increase in the number of victims infected and killed, especially if the PSBB is relaxed, where Corona Virus has infected 28,818 people (estimated to reach 30,000 people infected) with a death toll of 1,721 killed and to 2,000 people killed, (Fatality Rate of 5.97%).

On the other hand, rising commodity prices such as: Oil + 1.74%, Gold + 1.13%, Tin + 0.50% and Nickel + 0.10% have the potential to become catalysts for commodity-based stocks in this Friday`s trade.

Knowing that the IHSG has the opportunity to continue with minor profit taking, amid foreign investors continuing to record Net Buy (yesterday`s Foreign Net Buy was around Rp 980.28 billion) and valuation there are still quite a lot of very attractive shares to buy, we recommend being very selective if investors want to do BOW or Swing Trade can then focus on stocks from the Retail, Coal, Property, Construction, Telko, Metal and Consumer sectors in this Friday trade.

 

Covid-19 Countermeasure Costs Increase 67 Percent to Rp677 Trillion.

The government raised the budget for handling Covid-19 from Rp405.1 trillion to Rp 677.2 trillion. The budget increased by Rp272.1 trillion or by 67%.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Chandra Asri Petrochemical (TPIA)

The company recorded a net income of US $ 476.83 million in the first quarter of 2020, down 13.7% from US $ 552.21 million in the same period in 2019. Thus, the company recorded a loss for the year attributable to owners of the parent entity of US $ $ 17.83 million in quarter I / 2020, or a turnaround from profits of US $ 17.26 million in the same period in 2019.

 

2. PT Matahari Department Store (LPPF)

The company projects a decrease in consolidated net profit for the 1st quarter of 2011 to reach more than 75% YoY due to the Covid-19 pandemic. The company also estimates a decrease in total consolidated revenue of less than 25% YoY in the quarter 1/2020. Thus, based on the company`s calculations, revenue could be reduced by less than IDR481.84 billion and net profit might contract more than IDR106.88 billion.

 

3. PT Sat Nusapersada (PTSN)

The company until the end of the first quarter of2020 recorded a profit of USD3.11 million, up sharply 1,771% compared to the same period in 2019 of USD166.29 thousand. Meanwhile, until the end of the quarter 1/2020 the company`s revenue fell 51.05% to USD39.86 million from revenue of USD81.45 million in the same period in 2019.

 

4. PT J Resources Asia Pacific (PSAB)

The company posted a 10.01% increase in sales to US $ 244.90 million in 2019, compared to the same period in 2018 of US $ 222.60 million. However, net income attributable to owners of the parent company decreased by 97.86% YoY to US $ 325,937 in 2019.

 

5. PT Bank Sinarmas (BSIM)

BSIM`s net profit in the first quarter of 2020 decreased by 73.66 ^ to Rp32.59 billion compared to the same period in 2019 amounting to Rp124.75 billion. Meanwhile, as of the end of the first quarter of 2012, the company`s net interest income was IDR 548.48 billion, down 5.21% compared to the same period in 2019 which was IDR 574.66 billion. 

 

 

C. MARKET STATISTICS
*DJIA +11.93 +0.05% 26281*
NASDAQ -67.10 -0.69% 9615
*GOLD +19.2 +1.13% 1720.70*
*OIL +0.64 +1.74% 37.33*
COAL (July/Newcastle) -1.10 -1.95% 55.40
*NICKEL +12.5 +0.10% 12805*
*TIN +80 +0.50% 16050*
CPO (Jul`20) -34 -1.39% 2405
EIDO -0.66 -3.35% 19.02
*US 10yr +0.0590 +7.75% 0.8200*
*INDO 10yr +0.0472 +0.65% 7.3630*
*INDO CDS (5yr) -9.272 -6.623% 130.723*
TLK 46.12 (3250)
IDR (Spot) 14,095
IDR (Bloomberg, 05/06/20/Fut, 04.55) 14,095

*IDX Range : 4,873 - 4,956*
*USD/IDR Range: 14,010 - 14,150*

 


D. STOCK WATCHLIST
MAPI, ITMG, MDLN, WIKA, EXCL, PTBA, PTPP, TINS, ERAA, HOKI.

 

 


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