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Indonesia Market Today - 10 June 2020

A. INDONESIA MORNING MARKET REVIEW

Wednesday (10/06/2020). After DJIA rose sharply for 6 days around +2,318 points (+ 8.5%), it is very natural that in the end it was last night hit by profit taking of around -300 points (-1.09%), one of which was profit taking under Boeing which fell -5.9%, while waiting for the meeting of the Fed has the potential to be a negative driver for this Wednesday and if combined with a weakening of EIDO by -3.44% it will be a negative factor for IHSG to rest for a while from the trend of its release in trading this Wednesday amid the increasing number of victims infected and killed due to Corvid19, especially if PSBB is relaxed, where Corona Virus infected 1.043 people Tuesday so far that Corvid19 victims have reached 33,076 people (estimated to reach 35,000 people infected) with the addition of yesterday`s death toll of +40 people so far the death toll has reached 1,923 to 2,000 people died in the near future, (Fatality Rate of 5.81%).

On the other hand, commodity price movements are quite diverse, where prices for Tin, Gold, Oil & CPO have strengthened respectively by 1.24%, + 0.85%, + 0.55% & + 1.60% so that the potential to raise shares below these commodities while needing to watch the impact of the decline Nickel and Coal commodity prices in trading this Wednesday.

Knowing that IHSG has the opportunity to be colored by minor profit taking, amid foreign investors continuing their buying action and valuation there are still quite a lot of interesting stocks to buy, we recommend being very selective if investors want to do BOW or Swing Trade then they can focus on stocks from the CPO sector, Coal, TI, Bank, Retail, Consumer, Chicken Feed and Heavy Equipment in trade this Wednesday.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Wijaya Karya (WIKA).

The Company recorded profit attributable to the owners of the parent entity amounting to Rp99.21 billion in the first quarter of 2020, down 65.3% compared to the first quarter / 2019 period of Rp285.89 billion. On the other hand, the company`s performance up to the first quarter of 2020 showed that revenue fell 35.44% to Rp4.19 trillion. The majority of revenue is contributed from the infrastructure and building sectors, which is Rp2.68 trillion. Meanwhile, the energy & industrial plant sector contributed Rp.667.64 billion, the industrial sector Rp666.22 billion, and the real & property sector Rp181.21 billion. With the stock order book reaching Rp 80.68 trillion until April 2020, the company will focus production on several projects originating from SOEs and affiliates and the Government because they have better payment schemes.

 

2. PT Catur Sentosa Adiprana (CSAP)

The company posted a net profit in the first quarter of 2020 growing 7.87% to Rp21.59 billion compared to the same period in 2019 of Rp20.02 billion. Meanwhile, the company`s sales in the first quarter of 2020 reached Rp2.96 trillion up to March 31, 2020, up 8.45% compared to the same period in 2019 of Rp2.73 trillion.

 

3. PT Bank Ganesha (BGTG)

The company posted a net interest income of Rp52.32 billion up to the 31 March 2020 period compared to the same period in 2019 of Rp 48.36 billion. Meanwhile, as of the end of the first quarter of 2011, the company`s net profit was IDR10.18 billion compared to the same period in 2019 of IDR14.95 billion.

 

4. PT Mahkota Group (MGRO)

Until the first quarter of the year, the company experienced a net loss of Rp16.92 billion, even though in the first quarter of 2019 the company still posted a net profit of Rp6.03 billion. Meanwhile, the company`s revenue reached Rp599.92 billion as of March 31, 2020, an increase of 35.02% compared to the same period in 2019 amounting to Rp.444.30 billion.

 

5. PT Bank Amar Indonesia (AMAR)

The company posted a net profit of Rp19.52 billion up to the 31 March 2020 period compared to the same period in 2019 of Rp7.99 billion. Meanwhile, until the first quarter of 2011, the company`s net interest income rose to Rp199.18 billion from net interest income of Rp77.52 billion.

 


C. MARKET STATISTICS

DJIA -300.1 -1.09% 27272
*NASDAQ +29.01 +0.29% 9953*
*GOLD +14.5 +0.85% 1719.80*
*OIL +0.21 +0.55% 38.39*
COAL (July/Newcastle) -1.45 -2.61% 54.00
NICKEL -157.5 -1.20% 12907.5
*TIN +207.5 +1.24% 16910*
*CPO (Jul`20) +38 +1.60% 2412*
EIDO -0.70 -3.44% 19.65
US 10yr -0.0550 -6.22% 0.8290
INDO 10yr -0.0255 -0.34% 7.4615
*INDO CDS (5yr) +4.861 +4.514% 114.861*
TLK 44.18 (3068)
IDR (Spot) 13,890
IDR (Bloomberg, 10/06/20/Fut, 04.45) 13,890

*IDX Range : 5,001 - 5,085*
*USD/IDR Range: 13,830 - 13,970*

 

 

D. STOCK WATCHLIST

LSIP, PTBA, MCAS, BMRI, UNVR, ADRO, AALI, ICBP, CPIN, UNTR.

 

 

 

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