Indonesia Market Today - 13 July 2020
A. INDONESIA MORNING MARKET REVIEW
Monday (13/07/2020). After over the past week the JCI has strengthened by + 1.16% but it is accompanied by Foreign Investor Net Sell is much smaller than 2 weeks ago which amounted to Rp. 126.45 billion, beginning this week * there is a chance that the JCI will reverse direction alias rebound * along with the DJIA strengthening by + 1.44% as well as the estimated reduction in the 7DRR by Bank Indonesia in this week amid the attainment of the highest number of returning victims who were infected and killed by Corvid19, where for 3 days (Friday to Sunday) the number of victims infected by Corvid19 on a record breaking day has only reached +4,963 people so far Corvid19 fatalities reached 75,699 people (estimated to reach 100,000 people infected) with an additional death toll for 3 days +189 people so far the death toll has reached 3,606 people, leading to 4,000 people killed in the near future, (Fatality Rate of 4.76% ).
Furthermore, positive sentiment came from rising prices of some commodities such as: Oil + 2.52%, Nickel + 2.63% & CPO + 0.65% so that it could potentially be a positive sentiment driving up stocks below those commodities.
Knowing that IHSG is expected to have the chance to turn around in trading this Monday amid valuations that many stocks are very attractive to buy, we recommend being very selective if investors want to buy or swing trade, then they can focus on stocks from the Bank, Retail, Hospital, Telecommunication Infrastructure , Cigarettes, IT and Telecommunications in trading this Monday.
B. INDONESIA CORPORATE NEWS
1. PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (BJBR).
The Supreme Court (MA) ordered BJBR to pay income tax of Rp.61,852,936,187 *. This order is clearly stated in the Judgment Verdict (PK) 115 / B / PK / Pjk / 2020. The PK PK was submitted by BJBR as an applicant against the Director General (Dirjen) of the Ministry of Finance Tax as the respondent. PK memory was submitted by BJB Bank on May 24, 2019 and the Director General of Taxes filed a counter PK memory on July 12, 2019.
2. PT Bumi Serpong Damai (BSDE)
The company has realized marketing sales of Rp1.79 trillion or 25% of the 2020 target in the quarter 1/2020. The company targets marketing sales of IDR 7.20 trillion throughout 2020. Quarter 1/2020 performance was supported by sales of Nava Park and The Zora in BSD City and Apartment Southgate at TB Simatupang Jakarta.
3. PT Acset Indonusa (ACST).
The achievement of the company`s new contracts throughout the first half of 2020 was very minimal, namely Rp 1 billion only came from foundation work or fell very sharply compared to the same period in 2019 valued at Rp 1.32 trillion.
4. PT Semen Baturaja (SMBR)
The company will revise the company`s work plan and budget (RKAP) this year, along with the economic slowdown due to the Covid-19 pandemic. By the first quarter of 2020, the company posted revenues of Rp 335.76 billion, down 15.84% from the same period last year of Rp 422.73 billion. The company also posted a net loss that could be attributed to the owners of the parent entity amounting to Rp 64.16 billion, compared to the first quarter of 2019 with a net profit of Rp 4.13 billion. The company projects a 20% decline in cement sales throughout the first half of 2020.
5. PT Alkindo Naratama (ALDO).
The company is targeting to earn IDR1.1 trillion in 2020. Until March 2020, the realization of the revenue target has reached 28.30% or IDR311.38 billion, growing 3.47% compared to the first quarter / 2019. On the other hand, as of the end of the quarter 1/2020, due to the weakening of the rupiah exchange rate, the company bore a higher foreign exchange expense, resulting in a decline in net profit by 25% to Rp8,16 billion.
C. MARKET STATISTICS
*DJIA +369.2 +1.44% 26075*
*NASDAQ +69.69 +0.66% 10617*
GOLD -2 -0.11% 1801.80
*OIL +1 +2.52% 40.62*
COAL (Aug/Newcastle) -0.55 -1.01% 54.00
*NICKEL +347.5 -2.06% 13202.50*
TIN -42.5 -0.25% 17222.50
*CPO (Aug`20) +16 +0.65% 2460*
EIDO -0.06 -0.31% 19.01
US 10yr +0.010 +1.58% 0.643
INDO 10yr +0.084 +1.17% 7.196
INDO CDS (5yr) +2.701 +2.20% 125.724
*TLK 42.48 (3066) vs 3110 (TLKM)*
IDR (Spot) 14,435
IDR (Bloomberg, 11/07/20/Fut, 08.35) 14,435
*IDX Range : 4,983 - 5,067*
*USD/IDR Range: 14,370 - 14,510*
D. STOCK WATCHLIST
BBCA, ERAA, PTBA, BBNI, MIKA, TBIG, BNGA, GGRM, MTDL, TLKM.
GFS ASIA TEAM
- just now