Indonesia Morning Market - 12 August 2020
A. INDONESIA MORNING MARKET REVIEW
Wednesday (12/08/2020). *Gold Blasts -5.67%, Coal Plunges -3.31%!!!*
The bright spot for the discovery of the Corona vaccine and better release of economic data than the initial estimate pushed the price of gold to freefall into the abyss and it is not impossible that the price of gold will continue to spread in the future if 6 global pharmaceutical companies, at least, actually produce and sell Corona vaccines in bulk so that It`s not an exaggeration if investors have to reduce the weight of gold-based stocks (such as: MDKA, ANTM, PSAB, UNTR) where investors also need to anticipate a sell-off on Coal-based shares after last night the price of Coal Newcastle Port Delivery in September fell -3.31% and if combined with the fall of -0.38% (after rising for 7 days) and the fall of EIDO -0.58%, this is an unpleasant sentiment for investors this Wednesday amidst the achievement of the highest number of victims infected and killed by Corvid19, where * on Tuesday there is + 1,693 people have contracted Corvid * so that so far the victims have been infected with Co rvid19 reached 128,776 people (success far surpassing China, suspected to be the country of origin of the Corona Virus) with the addition of the death toll on Tuesday as many as +59 people so far the death toll has reached 5,824 people, to 6,000 people who died in the near future (Fatality Rate of 4.52%) *.
B. INDONESIA CORPORATE NEWS
1. PT Soechi Lines Tbk (SOCI).
Moody`s Investors Service rating agency lowered SOCI`s rating to B2 * from B1. This institution also assigns the same rating to bonds worth US $ 200 million issued by its subsidiary, Soechi Capital Pte. Ltd. The rating downgrade was caused by losses suffered by the company due to shipyard operations. Meanwhile, the embedded negative outlook reflects the risk of refinancing (refinancing) of a syndicated loan worth US $ 83 million which will mature in August 2021.
2. PT Kalbe Farma (KLBF)
The company posted net sales of Rp 11.6 trillion, an increase of 3.76% yoy. Meanwhile, the company`s net profit was higher by 10.3% yoy to Rp 1.39 trillion. The company revises its performance until the end of 2020 by projecting sales growth of between 4% and 6% in 2020. Earning per share (EPS) is predicted to rise even higher, 8% to 10%.
C. MARKET STATISTICS
*DJIA -104.53 -0.38% 27686*
*NASDAQ -185.53 -1.69% 10968*
*GOLD -115.6 -5.67% 1921.80!!!*
OIL -0.38 -0.90% 41.61
*COAL (Sep/Newcastle) -1.75 -3.31% 51!!!*
NICKEL +117.5 +0.83% 14342.5
*TIN -72.5 -0.41% 17712.50*
*CPO (Sep`20) -19 -0.68% 2765*
*EIDO -0.11 -0.58% 18.96*
*US 10yr +0.084 +14.63% 0.6580*
INDO 10yr -0.0276 -0.39% 6.9611
INDO CDS (5yr) -3.944 -3.623% 104.916
*TLK 39.72 (2915) vs 2930 (TLKM)*
IDR (Spot) 14,680
IDR (Bloomberg, 12/08/20/Fut, 04.35) 14,647.5
*IDX Range : 5,141 - 5,226*
*USD/IDR Range: 14,605 - 14,740*
D. STOCK WATCHLIST
Sell on Strength
MDKA, ANTM, PSAB, UNTR, PTBA, ADRO, ITMG
Boy On Weakness
BBNI, ERAA, BBRI, ASII, INDF, AKRA, WIKA, BRPT, CTRA, GGRM.
GFS ASIA TEAM
- just now