The JCI February 28, 2020

Fᴇʙʀᴜᴀʀʏ 28, 2020

* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 5,435ᴘᴛ – 5,550ᴘᴛ (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ:  5,536ᴘᴛ)

* Wᴀʟʟ Sᴛʀᴇᴇᴛ ʜɪᴛ sɪɢɴɪꜰɪᴄᴀɴᴛ ᴅʀᴏᴘ ᴀɴᴅ ᴘᴜᴛ ᴍᴀᴊᴏʀ ɪɴᴅɪᴄᴇs ɪɴ ᴄᴏʀʀᴇᴄᴛɪᴏɴ ᴢᴏɴᴇ ᴅᴇꜰɪɴᴇᴅ ᴀs 10% ᴏʀ ᴀʙᴏᴠᴇ ᴏꜰ ᴛʜᴇ ʀᴇᴄᴇɴᴛ ʜɪɢʜs

* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ꜰɪɢʜᴛ sᴇʟʟɪɴɢ ᴘʀᴇssᴜʀᴇs ᴀᴍɪᴅ ᴡᴇᴀᴋᴇɴᴇᴅ USDIDR ᴀɴᴅ ᴏɪʟ ᴄʟᴏsᴇ

Morning,

The Jakarta Composite Index (JCI) today  (28/2) is expected to be in the range of 5,435pt-5,550pt, to fight selling pressures joining regional sentiments. Meanwhile, yesterday (27/2) in the United States, the DJIA plunged by 1,191 points or 4.4% to 25,767pt, and the S&P500 and the Nasdaq closed with declined by  4.4% and 4.6%,  respectively. Wall Street continued the third-day freefall on news of more countries outside China infected by Coronavirus (COVID-19).

Meanwhile, the WTI price slid by 3.4.0%  at USD47.1/barrel yesterday as compared to the previous close.  At the other end, USDIDR weakened to IDR14,018 vs. IDR13,966 the previous one.

We advise the following recommendation for 1Q20. 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,