๐๐๐ญ๐จ๐๐๐ซ ๐, ๐๐๐๐
* ๐๐ก๐ ๐๐๐ ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ซ๐๐ง๐ ๐: ๐,๐๐๐๐ฉ๐ญ – ๐,๐๐๐๐ฉ๐ญ (๐๐๐ฌ๐ญ๐๐ซ๐๐๐ฒ ๐๐ฅ๐จ๐ฌ๐: ๐,๐๐๐๐ฉ๐ญ)
* ๐๐๐ฅ๐ฅ ๐๐ญ๐ซ๐๐๐ญ ๐๐ง๐๐๐ ๐ก๐ข๐ ๐ก๐๐ซ ๐๐ฒ ๐๐ฅ๐จ๐ฌ๐ ๐ญ๐จ ๐% ๐จ๐ง ๐ฉ๐ซ๐จ๐ ๐ซ๐๐ฌ๐ฌ ๐จ๐ ๐ญ๐๐ฅ๐ค๐ฌ ๐จ๐ ๐ฌ๐๐๐จ๐ง๐ ๐๐๐๐๐-๐๐ ๐ฌ๐๐๐จ๐ง๐ ๐๐ข๐ฌ๐๐๐ฅ ๐๐ข๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ก๐ข๐ญ๐ ๐๐จ๐ฎ๐ฌ๐
* ๐๐ก๐ ๐๐๐ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ ๐๐ฎ๐ญ ๐ก๐ข๐ ๐ก๐๐ซ ๐จ๐ข๐ฅ ๐๐ง๐ ๐๐๐๐๐๐ ๐๐ฅ๐จ๐ฌ๐ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ ๐ฌ๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ
Morning,
The Jakarta Composite Index (JCI) today (10/9) is expected to be in the range of 4,975pt โ 5,125pt, in a consolidation mode with the lower range supported by stronger USDIDR and oil close.ย Meanwhile, yesterday ย (10/8) the DJIA closed higher by ย 122 points or 0.4% to 28,304pt, while S&P500 and the Nasdaq both increased ย by ย 0.8% and 0.5%, respectively.
๐๐ญ๐๐ฒ ๐ญ๐ซ๐๐๐ข๐ง๐ ๐๐ง๐ ๐ข๐ง๐ฏ๐๐ฌ๐ญ๐๐ ๐จ๐ง ๐๐จ๐ฆ๐๐ฌ๐ญ๐ข๐ ๐๐ฅ๐ฎ๐-๐๐ก๐ข๐ฉ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ (๐)
Against the previous day, the Indonesia stock market yesterday saw once again a recently-rare times of net buy of of foreign funds of IDR0.05tr to bring latest year-to-date ย net sell of IDR45.9tr (2019: net buy of IDR49.2tr, 2018: net sell IDR50.7tr). The relatively slight value of net buy ย yesterday was partly credited to the ratification of the investors-friendly new labor law by title of Undang Undang Cipta Kerja (UU Cipta Kerja).
At the current stage the Parliamentary- ratified script of UU Cipta Kerja has a 30-days interval to be signed by the President to be effective.ย At the other end, with the nation-wide ย protests on the script ย ย escalated last night, ย stakeholders put hope that compromise somehow be achieved by the deadline.
Data from Indonesia exchange, current average of total trailing price-earnings-ratio multiples pointed to 11.9 times this year, while on a market capitalization- based weighted average pointed to 33.0 times this year.
Against this measure, other thing being in normal circumstances, manyย blue-chip counters are in favorable spot , attached with discounted annualized PER multiples this year. For example, consumer sectorโs GGRM currently is trading at 11 x annualized-estimated earnings multiple this year or representing a 67% discount, and ICBP of 18 times for a 45% discounts, while automotive ASII of 9 times that of this yearโs that represent a 73% discounts.ย Discounts have generally factored-in current calamities, in our note.
At the other end, yesterdayย the WTI price closed higher byย 3.1%ย at USD41.2/barrel as compared to the previous one, on ย possibility of Hurricane Delta in the United States gulf of Mexico was forecast to intensify with nearly of 1.5mn barrels of daily output was halted. ย Meanwhile the USDIDR ย closedย at IDR14.750ย vs. IDR14.784 the previous one.
We advise the following recommendations, for both trading and longer-time investment purpose. ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐จ๐ณ๐ช, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ฏ๐ฅ๐ฆ๐ณ๐ธ๐ฆ๐ช๐จ๐ฉ๐ต ), ๐๐๐๐, ๐๐๐๐, ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ฐ๐ข๐ญ ๐๐ช๐ฏ๐ช๐ฏ๐จ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ข๐ณ๐ฌ๐ฆ๐ต-๐ธ๐ฆ๐ช๐จ๐ฉ๐ต), ๐๐๐๐, ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ฐ๐ฏ๐ด๐ถ๐ฎ๐ฆ๐ณ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ท๐ฆ๐ณ๐ธ๐ฆ๐ช๐จ๐ฉ๐ต ), ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ถ๐ต๐ฐ๐ฎ๐ข๐ต๐ช๐ท๐ฆ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ข๐ณ๐ฌ๐ฆ๐ต-๐ธ๐ฆ๐ช๐จ๐ฉ๐ต), ๐๐ง๐ ๐๐๐๐, ๐๐๐๐, ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ณ๐ข๐ฅ๐ฆ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ท๐ฆ๐ณ๐ธ๐ฆ๐ช๐จ๐ฉ๐ต),๐๐ง๐ ๐๐๐๐ (๐ฌ๐๐๐ญ๐จ๐ซ ๐จ๐ ๐๐ข๐ด๐ช๐ค ๐๐ฏ๐ฅ๐ถ๐ด๐ต๐ณ๐บ, ๐๐ฅ๐ฅ๐จ๐๐๐ญ๐ข๐จ๐ง ๐ฌ๐ฎ๐ ๐ ๐๐ฌ๐ญ๐ข๐จ๐ง ๐๐ข๐ณ๐ฌ๐ฆ๐ต-๐ธ๐ฆ๐ช๐จ๐ฉ๐ต).
Cheers,