Indonesia Morning Market - 11 August 2020
A. INDONESIA MORNING MARKET REVIEW
Tuesday (11/08/2020). The combination of + 1.30% strengthening of the DJIA following the signing of an executive order by President Trump to support the US economy through the corona virus until more stimulus can be achieved and a strengthening of EIDO by + 1.38% has the potential to push the JCI to rebound in trade this Tuesday amid the attainment of the highest number again. victims infected and killed as a result of Corvid19, where * on Monday there were +1,687 people infected with Corvid * so that so far the victims infected with Corvid19 reached 127,083 people (success far surpassing China, suspected to be the country of origin of the Corona Virus) with an additional death toll on Monday as many as +42 people so that the death toll has reached 5,765 people, to 6,000 people killed in the near future (Fatality Rate of 4.54%) *.
On the other hand, the commodity price of Gold fell again by -0.42% followed by the decline in commodity prices for Coal -0.85%, Nickel -0.91% and CPO -1.34% so it is necessary to watch out for profit taking on these commodity-based stocks in today`s trading.
B. INDONESIA CORPORATE NEWS
1. PT Alam Sutera Realty Tbk (ASRI).
Fitch Ratings lowered ASRI`s rating from B- to CCC-. Meanwhile, the company`s dollar-denominated debt securities, which amounted to US $ 115 million and US $ 370 million, were also downgraded to CCC- from B-. The rating downgrade reflects the company`s increased liquidity risk to pay debt securities of US $ 115 million which will mature on April 22, 2021.
2. PT Agung Podomoro Land (APLN)
Fitch Ratings lowered the rating of the issuer Agung Podomoro for the issuance of Long-Term Debt in Rupiah to C from CCC-.
3. PT Indo Farma (INAF)
Until the end of Semester 1/2020, the company posted net sales of IDR 447.29 billion, growing 21.28% compared to the same period in 2019 of IDR 368.81 billion. In detail, INAF`s net sales in the first semester of 2020 only consisted of sales of drugs and medical devices (medical equipment) and other products, in contrast to the first semester of 2019 when INAF also recorded revenue from the pharmaceutical engineering segment of IDR 244.40 million. On the other hand, the company still posted a loss attributable to the owner of the parent entity (net loss) of IDR 4.66 billion in the first semester of 2020 compared to the company`s net loss of IDR 24.35 billion in the first semester of 2019.
4. PT Sri Rezeki Usman (SRIL)
The company will boost sales of personal protective equipment (PPE) products abroad after the export taps have been opened since June 2020. The company recorded sales of US $ 608.23 million in the first semester of 2020. Exports are the largest contributor to the company`s sales with a contribution of US $ 332.64 million as of June 30, 2020. The Asian region is the main export market for SRIL with sales contribution of US $ 195.72 million. The second export sales came from Europe with a contribution of US $ 51.58 million.
C. MARKET STATISTICS
*DJIA +357.96 +1.30% 27791*
NASDAQ -42.63 -0.39% 10968
GOLD -8.7 -0.42% 2037.40
*OIL +0.39 +0.94% 41.99*
COAL (Sep/Newcastle) -0.45 -0.85% 52.75
NICKEL -130 -0.91% 14255
*TIN +37.5 +0.21% 17785*
CPO (Sep`20) -38 -1.34% 2786
*EIDO +0.27 +1.38% 19.07*
US 10yr +0.012 +2.14% 0.5470
INDO 10yr -0.0043 -0.06% 6.9887
INDO CDS (5yr) -0.483 -0.44% 108.861
*TLK 40 (2930) vs 2970 (TLKM)*
IDR (Spot) 14,647.5
IDR (Bloomberg, 11/08/20/Fut, 08.45) 14,647.5
*IDX Range : 5,108 - 5,193*
*USD/IDR Range: 14,570 - 14,710*
D. Stock Watchlist
GGRM, AALI, ERAA, INKP, ITMG, BBRI, TKIM, INDF, ADRO, KLBF.
GFS ASIA TEAM
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