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Indonesia Market Today - 9 July 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (09/07/2020). Not slowing down, DJIA strengthened by + 0.68% in trading Wednesday driven by the strengthening of technology-based stocks such as: Apple + 2.3%, Microsoft + 2.2%, Netflix + 2% & Amazon + 2.7% and when combined with EIDO increase of + 2.33% then has the potential to be * a catalyst driving the JCI to continue its rise * in Thursday`s trade amid the achievement of the highest number of new victims who were infected and killed by Corvid19, where on Wednesday the number of victims infected with Corvid19 broke the new record reaching +1,853 people * so far the victims have been infected Corvid19 reached 68,079 people (estimated to reach 100,000 people infected) with an additional death toll on Wednesday as many as +50 people so that the death toll has so far reached 3,359 people, leading to 4,000 people killed in the near future, (Fatality Rate of 4.93%).

Furthermore, positive sentiment came from rising prices of several commodities such as: Oil + 1.06%, Gold + 0.57%, Nickel + 0.62% & Tin + 0.62% so that it could potentially be a driving force for stocks below those commodities.

Knowing that the IHSG is expected to continue strengthening in Thursday`s trade amid valuations as many stocks are very attractive to buy, we recommend being very selective if investors want to do BUY or Swing Trade so they can focus on stocks from the Bank, Gold Metal, Construction, Property sector, CPO and Telecommunications in trading this Thursday.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Modernland Realty (MDLN).

PEFINDO has downgraded PT Modernland Realty`s 2015 Series I Sustainable Bond B rating to "idD" * from "idCCC" from "idBBB-." because it failed to pay the loan principal that was due in the amount of Rp150 billion on July 7, 2020. PEFINDO also downgraded the MDLN rating to "idSD" from "idCCC". As of December 31, 2019, MDLN`s shareholders were PT Honoris Corporindo Pratama (14.1%), PT Panin Sekuritas Tbk (12%), AA Land Pte Ltd (7.4%), Woodside Global Venture Inc. (6.9%), PT CGS-CIMB Sekuritas Indonesia (5%), and the public (54.6%).

 

2. PT Puradelta Lestari (DMAS)

The company recorded pre-sales or marketing sales revenue of Rp1.05 trillion in the first half of 2020, or equivalent to 53% of the target of marketing sales throughout 2020 of Rp2 trillion. In terms of sales volume, in the 2/2020 quarter the Company sold around 19 ha of its industrial land, after previously selling 32 ha of its industrial land in 1/2020 quarter. So that during Semester 1/2020, the company managed to sell 51 ha.

 

3. PT Indofarma Tbk (INAF)

The company is optimistic that the acquisition of sales this year will reach Rp1.97 trillion, or grow by 44.85% compared to last year`s achievement of Rp1.36 trillion. As a result, net profit is expected to grow 12.69% to Rp8.97 billion by the end of 2020 from Rp7.96 billion last year.

 

4. PT Elnusa (ELSA)

As a result of facing three business challenges at once, namely the downward trend in crude oil prices, the Covid-19 pandemic and the weakening of the rupiah against the United States dollar (US), ELSA will review the initial target for 2020 performance. Initially, ELSA set a revenue target of Rp 9.1 trillion and Rp 400 billion in profits.

 

5. PT Prima Alloy Steel Universal (PRAS)

In the first quarter of 2020, the company posted a loss of Rp7.61 billion in the current year, compared to the same period in 2019, the company posted a profit of Rp57.89 million. Meanwhile, the company recorded net sales of Rp72.74 billion as of the first quarter of 2012, down 39.82% compared to the same period in 2019 of Rp120.88 billion.

 

 

C. MARKET STATISTICS

*DJIA +177.10 +0.68% 26067*
*NASDAQ +148.6 +1.44% 10492*
*GOLD +10.3 +0.57% 1818*
*OIL +0.43 +1.06% 40.88*
COAL (Aug/Newcastle) -1 -1.74% 56.40
*NICKEL +82.5 +0.62% 13480*
*TIN +105 +0.62% 17082.5*
*CPO (Aug`20) +40 +1.67% 2427*
*EIDO +0.44 +2.33% 19.36*
US 10yr +0.018 +2.78% 0.666
INDO 10yr +0.096 +1.35% 7.224
INDO CDS (5yr) +2.319 +1.922% 122.989
*TLK 44.64 (3216) vs 3150 (TLKM)*
IDR (Spot) 14,410
IDR (Bloomberg, 09/07/20/Fut, 04.50) 14,410

*IDX Range : 5,042 - 5,126*
*USD/IDR Range: 14,360 - 14,490*

 

 

D. STOCK WATCHLIST

BBRI, PTBA, BJBR, MDKA, WIKA, BBNI, CTRA, LSIP, TLKM, SMRA

 

 

 

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