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Indonesia Market Today - 24 July 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (24/07/2020). After strengthening several times before, finally due to profit taking in technology-based shares, DJIA fell by -1.31% and when combined with the fall of EIDO by -0.84% (even though JCI was closed higher on Thursday) there was a chance the JCI "was infected by profit taking virus" in Friday`s trade amid the highest number of victims re-infected and killed by Corvid19, where the number of victims infected by Corvid19 on Thursday reached +1,906 people so that so far the victims were infected by Corvid19 far away from China which is suspected to be the source of the Corona Virus which reached 93,657 people (estimated to reach 100,000 people infected) with an additional death toll on Thursday as many as + 117 people so that the death toll has reached 4,576 so far, reaching 5,000 people dead in the near future, (Fatality Rate of 4.88%).

Furthermore, rising commodity prices such as: Nickel + 4.65%, Gold + 0.73%, CPO + 1.82% & Lead + 1.38% have the potential to push up commodity-based stocks in trading this Friday.

Knowing that IHSG has the opportunity to be exposed to profit taking in trading this Friday amid valuations that many stocks are very interesting to buy, we recommend being very selective if investors want to do BOW or Swing Trade so they can focus on stocks from the Bank, Construction, Pharmacy, Chicken Feed sectors Infrastructure, Gold Metals and Cigarettes in Friday trade.

 

 

B. INDONESIA CORPORATE NEWS

1. PT Waskita Karya (WSKT)

Corruption Eradication Commission (KPK) arrested 5 suspects including former Head of Division III / Civil / II PT Waskita Karya (Persero) Tbk Desi Arryani, former Head of Control Section in Division III / Civil / II Jarot Subana, former Head of Projects and Head of Projects Control Section in Division III / Civil / II Fakih Usman and Head of Division II of PT Waskita Karya for the period of 2011 Ð 2013 Yuly Ariandi Siregar and Head of Division of Finance and Risk of Division II of PT Waskita Karya for the period 2010-2014 Fathor Rachman which caused the state loss of Rp202 billion.

 

2. PT HM Sampoerna (HMSP)

The company experienced a decrease in profits attributable to owners of the parent entity down -27.77% to Rp4.89 trillion as of 30 June 2020 from a profit of Rp6.77 trillion in the same period in 2019. Furthermore, net sales at the end of semester 2/2020 decreased -11.81% to IDR 44.73 trillion from net sales of IDR 50.72 trillion in the semester 2/2019 period.

 

3. PT Unilever Indonesia (UNVR)

The company posted a 1.5% increase in net sales YoY in semester 1/2020 to Rp 21.77 trillion driven by an increase in domestic sales by 1.6%. However, when looking at performance in the second quarter alone, UNVR sales edged down 1.6%. While domestic sales fell 1.2% in the April-June 2020 period when compared to the 2/2019 quarter. UNVR will release unaudited interim financial statements for the first half of 2020 on July 30, 2020.

 

4. PT Suparma (SPMA)

The Company recorded a decline in profit for the current period to Rp 61.72 billion until semester I-2020, compared to the same period last year which reached Rp 72.36 billion. The decline in profits was triggered by a 19.76% reduction in net sales of the company to Rp 990.99 billion until the end of June 2020, compared to the same period in 2019, which was Rp 1.23 trillion.

 

5. PT Garuda Metalindo (BOLT)

The company posted sales of Rp373.89 billion until the end of semester 1/2020, down -36.92% compared to sales of Rp592.76 billion in the same period in 2019. Meanwhile, net losses attributable to owners of the parent entity suffered Rp7.85 billion or decreased sharply -136.24% of net profit of Rp21.66 billion in 2019.

 

 

C. MARKET STATISTICS

DJIA -353.51 -1.31% 26652
NASDAQ -244.71 -2.29% 10461
*GOLD +13.7 +0.73% 1884,50*
OIL -0.83 -1.98% 41.06
COAL (Aug/Newcastle) unch 53.50
*NICKEL +607.60 +4.65% 13685!!*
*TIN +242.5 +1.38% 17830*
*CPO (Aug`20) +50 +1.82% 2795!!*
EIDO -0.16 -0.84% 18.95
US 10yr -0.0130 -2.18% 0.5820
INDO 10yr -0.0364 -0.51% 7.1509
INDO CDS (5yr) -3.517 -3.005% 113.503
*TLK 41.30 (3010) vs 3070 (TLKM)*
IDR (Spot) 14,580
IDR (Bloomberg, 24/07/20/Fut, 04.45) 14,580

*IDX Range : 5,094 - 5,179*
*USD/IDR Range: 14,510 - 14,640*

 

 

D. STOCK WATCHLIST

BMRI, PTPP, KLBF, JPFA, PGAS, WIKA, CPIN, MDKA, GGRM, KAEF.

 

 

 

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