The JCI April 14, 2020
Aᴘʀɪʟ 14, 2020
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ : 4,560ᴘᴛ – 4,725ᴘᴛ (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 4,624ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴄʟᴏsᴇᴅ ʟᴏᴡᴇʀ ʙʏ ᴄ. 1% ᴀs ᴜɴᴇᴀsᴇ ɪɴᴠᴇsᴛᴏʀs ꜰᴀᴄᴇ 1Q20 ᴇᴀʀɴɪɴɢs ʀᴇʟᴇᴀsᴇ
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ꜰʟᴜᴄᴛᴜᴀᴛᴇ ʏᴇᴛ sᴜᴘᴘᴏʀᴛᴇᴅ ʙʏ sᴛʀᴏɴɢᴇʀ USDIDR ᴀɴᴅ ᴍᴏsᴛ ᴇxᴘᴇᴄᴛ ᴀ 25ʙᴘ ᴄᴜᴛ ᴏɴ ʀᴇꜰᴇʀᴇɴᴄᴇ ʀᴀᴛᴇ sᴄʜᴇᴅᴜʟᴇᴅ ᴛᴏ ʙᴇ ᴀɴɴᴏᴜɴᴄᴇᴅ ᴛʜɪs ᴀꜰᴛᴇʀɴᴏᴏɴ
Morning,
The Jakarta Composite Index (JCI) today (14/4) is expected to be in the range of 4,560pt-4,725pt, expected to be supported by stronger USDIDR amid cautious for central bank decision on BI7D-RRR (currently at 4.25%) scheduled to be release this afternoon. Meanwhile, yesterday (13/4) in Wall Street, the DJIA closed lower by 329 points or 1.4% to 23,391pt, while the S&P500 and the Nasdaq both closed lower by 1.0% and higher by 0.5% respectively.
Ahead of the 1Q20 earnings season in the United States , investors are in cautious mode. Analysts expect S&P 500 earnings growth to decline 10.2% YoY in the first quarter, according to Refinitiv (previously Thomson Reuters). There is also an unusually wide range of estimates given the unprecedented uncertainty from the coronavirus. 88 negative earnings pre-announcements have been issued by S&P 500 corporations, while a wave of major companies have already withdrawn their full-year guidance broadcasted early this year.
Meanwhile, the WTI price closed at USD22.4/barrel yesterday or lower by 1.7% as compared to the previous close of USD22.8/barrel. At the other end, USDIDR yesterday strengthened to IDR15.840 vs. IDR16,241 the previous close.
We advise the following recommendation as for now, for both trading and longer-time investment purpose. 𝐀𝐀𝐋𝐈, 𝐋𝐒𝐈𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘨𝘳𝘪, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘜𝘯𝘥𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐔𝐍𝐓𝐑, 𝐈𝐓𝐌𝐆, 𝐀𝐃𝐑𝐎, 𝐏𝐓𝐁𝐀 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘢𝘭 𝘔𝘪𝘯𝘪𝘯𝘨, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐆𝐆𝐑𝐌, 𝐔𝐍𝐕𝐑, 𝐈𝐂𝐁𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐀𝐒𝐈𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘷𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐚𝐧𝐝 𝐀𝐂𝐄𝐒, 𝐒𝐂𝐌𝐀, 𝐌𝐀𝐏𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘛𝘳𝘢𝘥𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵),𝐚𝐧𝐝 𝐓𝐊𝐈𝐌 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘉𝘢𝘴𝘪𝘤 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵).
Cheers,