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Indonesia Market Today - 17 July 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (17/07/2020). After strengthening for 4 days in a row, DJIA finally hit profit-taking, closing down by -0.50% due to falling technology-based stocks and if combined with a drop in EIDO of -0.47%, it has the potential to encourage investors to take profit taking in trading this Friday amid the highest achievement returning victims who were infected and died as a result of Corvid19, where on Thursday the number of victims affected by Corvid19 broke the new record high again reaching +1,574 people so that so far Corvid19 victims have reached 81,668 people (estimated to reach 100,000 people infected) with an additional death toll on Thursday of + 76 people so far the death toll has reached 3,873 people, leading to 4,000 people killed in the near future, (Fatality Rate of 4.74%) *. (Worldometers Info)

Meanwhile, the condition of commodity price closing was quite diverse where Nickel, Oil, Gold and Coal experienced a fall but the price of Tin and CPO maintained their strengthening trend.

Knowing that IHSG has the opportunity to be exposed to profit taking in trading this Friday amid valuations that many stocks are very attractive to buy, we recommend being very selective if investors want to do BOW or Swing Trade so they can focus on stocks from the Cigarette, Automotive, Consumer, Retail, CPO sectors , Cement, Oil and Banks in Friday trade.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Arwana Citra Mulia (ARNA)
Until the end of semester 1/2020, the company recorded a rise in profit for the year attributable to owners of the parent entity 18.16% up to semester I2020 to Rp120.64 billion compared to the same period in 2020 of Rp102.09 billion. Meanwhile, the company`s net sales in the first semester of 2012 decreased 4.78% to Rp995.68 billion from Rp1.05 trillion in the same period in 2019.

 

2. PT Bank Capital Indonesia (BACA)
The company plans to seek funding through the Capital Increase With Rights or Right Issue, it is planned to be held in October 2020 worth Rp 2 trillion.

 

3. PT Chandra Asri Petrochemical (TPIA)

The company issued Phase I sustainable bonds in 2020 in the amount of Rp1 trillion from the target of funds raised which reached Rp5 trillion with a Pefino rating "AA-". Phase I sustainable bonds are offered in three series. Series A with a tenor of 3 years, series B about 5 years, and series C has a 7 year theory.

 

4. PT Jaya Konstruksi Manggala Pratama (JKON)
In terms of sales, in the first half of 2020 the target was around 30% compared to last year. In terms of development projects as well as investment, the company is currently developing 6 toll road projects within the city of Jakarta and Jakarta Outer Ring Road I.

 

 

C. MARKET STATISTICS

DJIA -135.39 -0.50% 26734
NASDAQ -76.66 -0.73% 10473
GOLD -12.6 -0.70% 1800.30
OIL -0.25 -0.61% 40.75
COAL (Aug/Newcastle) -0.70 -1.26% 54.80
NICKEL -202.5 -1.09% 13392.5
*TIN +47.5 +0.27% 17342.50*
*CPO (Aug`20) +9 +0.34% 2615*
EIDO -0.09 -0.47% 19.03
US 10yr -0.0180 -2.88% 0.6120
INDO 10yr -0.0274 -0.38% 7.2579
INDO CDS (5yr) +2.899 +2.328% 127.437
*TLK 42.36 (3098) vs 3100 (TLKM)*
IDR (Spot) 14,625
IDR (Bloomberg, 17/07/20/Fut, 04.35) 14,625

*IDX Range : 5,098 - 5,143*
*USD/IDR Range: 14,565 - 14,700*

 

 

D. STOCK WATCHLIST

GGRM, ASII, INDF, MAPI, AALI, ERAA, INTP, ICBP, MEDC, BBRI

 

 

 

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