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Indonesia Market Today - 30 June 2020

A. INDONESIA MORNING MARKET REVIEW

Tuesday (30/06/2020). The combination of The Dow Jones Industrial Average ended up 2.32% or equal to 580.25 points on Monday, best day since June 5, boosted by Boeing which gained 14.4% as certification flights for Boeing 737 max began Monday and Apple rise of 2.3% after last week, Friday, plunged 2.8% as surging coronavirus cases prompted large US states to impose new public health restrictions and the rise of EIDO 0.94% could be made as positive sentiments for Tuesday`s trading in the middle of the The Indonesian Health Ministry announcement that 1,082 new confirmed COVID-19 cases on Monday, bringing the total number of infections nationwide to 55,092 and 51 more people had died of the disease, bringing the death toll to 2,805.

Moreover, from commodity market, WTI crude oil prices up 3.88% on Monday, supported by improving economic data but held in check by sharp spikes in new coronavirus infections around the world that have forced some countries to impose partial lockdowns, meanwhile gold prices also slightly increased 0.01%, within striking distance of a near 8-year peak scaled last week and heading for their biggest quarterly gains in over 4 years, as a sharp rise in global coronavirus cases unnerved investors where those positive sentiment could boost share prices under those commodities for today`s trading.

Knowing some positive driving factors from DJIA, EIDO and commodity prices gains including possibility of window dressing 2Q20, we believe it could *uplift Indonesia Stock Market Index* where at the same time there are still many undervalued stocks that investor could selectively buy from Consumer, Infrastructure, Hospital, Basic Industry, Bank, Chemical, FMCG and Coal operator sectors for Tuesday`s trading.

 

Government open to possibility of BI buying zero-coupon bonds to aid state budget.

The Finance Minister has opened the probability of the Central Bank (BI) buying government bonds with a zero-coupon rate as part of a “burden-sharing” scheme to finance the battle against the COVID-19 pandemic. She expected the programs to amount to Rp 397 trillion (US$28 billion).

 

 

B. INDONESIA CORPORATE NEWS

1. PT Aneka Tambang (ANTM)

The company, on 1Q20, posted the net profit of IDR 137.54 billion. Meanwhile, the company booked revenue of IDR 5.20 trillion, where 26% or equal to IDR 1.37 trillion came from export sales. Gold and feronickel are the biggest contributors for sales on 1Q20 where gold sales contribute 76% or equal to IDR 3.97 trillion, in the meantime feronickel sales contribute IDR965.65 billion or equal to 19% of the total sales.

 

2. PT Waskita Beton Precast (WSBP)

A disppointed result posted by the company at the end of 1Q/20 where the company posted net profit IDR 104,5 billion or down 63.52% YoY. Furthermore, the company booked revenue of IDR 753.6 billion, dropped 65% YoY.

 

3. PT United Tractors (UNTR)

The gold sales that company could book in May 2020, sharply up 122% MoM or equal to 40.000 ounce (oz). Hence, for the first five months of 2020, the company gold sales, reached 153.300 oz. On the other hand, the subsidiary company, Tuah Turangga Agung, coal sales attained 514,000 ton, far below compare to the company achievement on 1Q19 of 1.36 million ton.

 

4. PT Millennium Pharmacon International (SDPC)

A very good result posted by the company at the end of 1Q/20 where the company booked revenue of IDR785.28 billion or up 15.84% YoY. In the meantime, the company locked in net profit of IDR 6.77 billion or steeply up 67.41% YoY.

 

 

C. MARKET STATISTICS

*DJIA +580.25 +2.32% 22595*
*NASDAQ +116.9 +1.20% 9874*
*GOLD +0.20 +0.01% 1784.20*
*OIL +1.48 +3.88% 39.63!!*
COAL (July/Newcastle) -1.50 -2.77% 52.70
*NICKEL +115 +0.91% 12782.50*
*TIN +22.50 +0.13% 16787.50*
CPO (Aug`20) -32 -1.32% 2395
*EIDO +0.17 +0.94% 18.33*
US 10yr Unch 0.6360
INDO 10yr +0.0175 +0.24% 7.4136
INDO CDS (5yr) +1.326 +0.989% 135.441
TLK 44.08 (3135) vs 3180 (TLKM)
IDR (Spot) 14,245
IDR (Bloomberg, 30/06/20/Fut, 04.35) 14,245

*IDX Range : 4,868 - 4,951*
*USD/IDR Range: 14,170 - 14,300*

 

 

D. STOCK WATCHLIST

ICBP, PGAS, TOWR, MIKA, AGII, BBNI, BRPT, UNVR, BBRI, UNTR.

 

 

 


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