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Indonesia Market Today - 25 June 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (25/06/2020). The combination of "happening" again the Corvid19 problem and the IMF`s warning that global economic growth will be worse than IMF predictions in April 2020 is the reason DJIA closed down quite sharply by -2.72% as a chance to be a factor driving profit taking on the Indonesia Stock Exchange in trading this Thursday amid achievement the highest number of victims who were infected and killed as a result of Corvid19, where on Wednesday the number of victims infected by Corvid19 continues to increase to +1,113 people so far Corvid19 is infected by nearly 50,000 people, to be exact 49,669 people (an estimate of 100,000 affected) with an additional death toll on the day Wednesday it is +38 people, so far the death toll has reached 2,573 to 3,000 dead in the near future, (Fatality Rate of 5.18%).

Furthermore, the fall in prices of almost all commodity counters such as: Oil -4.87%, Gold -0.66%, Nickel -1.40%, Tin -1.49%, Coal -0.38% & CPO -0.27% potentially * pushed down stocks below the commodity * in trading this Thursday.

Knowing that there are quite a lot of negative sentiments for the Jakarta Composite Index, there is a chance that the Jakarta Composite Index will be exposed to profit taking, amid the placement of Rp 30 trillion in four Government Banks shares that will distribute dividends *, or Swing Trade, can then focus on shares from the Bank, Coal, Infrastructure, Telko, Consumer, and Retail sectors in Thursday`s trade.

 

The IMF projects a world economy of minus 4.9% in 2020.

Although many countries have now relaxed their activity restrictions, the IMF predicts that world economic growth will continue to grow negatively at 4.9% in 2020. This projection is down 1.9% from the prediction in April 2020 before.

 

The Government Placed Rp30 Trillion in Four State-Owned Banks for Economic Recovery in the Middle of the Covid-19 Pandemic.

Regulation of the Minister of Finance (PMK) 70/2020 concerning Placement of State Money in Commercial Banks in the Context of Accelerating the National Economic Recovery (PEN), for the initial stage at state banks. Namely, PT Bank Mandiri (BMRI), PT Bank Rakyat Indonesia (BBRI), PT Bank Negara Indonesia (BBNI), and PT Bank Tabungan Negara (BBTN).

 

 

B. INDONESIA CORPORATE NEWS

1. PT Modernland Realty (MDLN)

After Pefindo, PT Fitch Ratings Indonesia cut MDLN`s rating from B to CCC-. At the same time MDLN`s second-ranked debt securities were also cut to CCC-. The two bonds are worth US $ 150 million which will mature in 2021 and US $ 240 million which will mature in 2023.

 

2. PT Sunson Textile Manufacturer (SSTM)

Until the end of the first quarter of 2020, the company posted a profit of Rp3.56 billion, an increase of + 81.37% compared to the same period in 2019 of Rp1.96 billion. Furthermore, the company`s revenue during the first quarter of 2020 amounted to Rp.103.37 billion, 5.44% higher than SSTM revenue in the first quarter of 2020 amounting to Rp98.03 billion.

 

3. PT Bank Mayapada Internasional (MAYA)

The company projects that the company`s net profit for 2020 will decrease by 35.41% to Rp341.12 billion, because lending throughout 2020 will decrease by 16.47%. In addition, MAYA`s interest income in 2020 is estimated to only be worth IDR6.8 trillion or lower than the acquisition in 2019 which reached IDR8.94 trillion. In fact, last year the company`s interest income was able to increase by 11.81% (yoy) from Rp7.99 trillion in 2018. Meanwhile, the net NPL owned by MAYA until the end of 2020 will increase to 1.79% compared to the position as of December 31, 2019 which recorded 1.63%. Meanwhile, MAYA LDR in 2020 is estimated at 76.76% or lower than at the end of 2019 which was 93.34%.

 


C. MARKET STATISTICS

DJIA -710.16 -2.72% 25445
NASDAQ -222.2 -2.19% 9909
GOLD -11.71 -0.66% 1772
OIL -1.95 -4.87% 38.07
COAL (July/Newcastle) -0.20 -0.38% 52.65
NICKEL -177.5 -1.40% 12515
TIN -252.5 -1.49% 16645
CPO (Jul`20) -7 -0.27% 2535
*EIDO +0.04 +0.22% 18.59*
US 10yr -0.0250 -3.53% 0.6840
INDO 10yr -0.0450 -0.60% 7.4021
INDO CDS (5yr) +8.543 +6.86% 132.987
TLK 44.42 (3138) vs 3180 (TLKM)
IDR (Spot) 14,130
IDR (Bloomberg, 25/06/20/Fut, 04.45) 14,130

*IDX Range : 4,916 - 5,000*
*USD/IDR Range: 14,050 - 14,185*

 

 

D. STOCK WATCHLIST

BBNI, PTBA, BBRI, JSMR, PGAS, TLKM, ICBP, AKRA, ERAA, ACES.

 

 

 

 

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