The JCI November 5, 2019
Nᴏᴠᴇᴍʙᴇʀ 5, 2019
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 6,165ᴘᴛ – 6,240ᴘᴛ( Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 6, 180ᴘᴛ)
* Tʜᴇ DJIA, S&P 500, ᴀɴᴅ Nᴀsᴅᴀǫ ᴄʟᴏsᴇᴅ ᴀᴛ ʜɪsᴛᴏʀɪᴄᴀʟ ʜɪɢʜ ʏᴇsᴛᴇʀᴅᴀʏ
* Mᴇᴅɪᴏᴄʀᴇ 3Q19 ᴅᴏᴍᴇsᴛɪᴄ GDP ɢʀᴏᴡᴛʜ, ᴏɴ ʀᴇʟᴇᴀsᴇ ᴛᴏᴅᴀʏ, ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ʟɪᴍɪᴛ ʙᴜʏɪɴɢ ᴇɴᴛʜᴜsɪᴀᴍs
Morning,
The Jakarta Composite Index (JCI) today (5/11) is expected to be in the range of 6,165pt-6,240pt, expected to share positive regional tone though mediocre domestic 3Q19 GDP growth of consensus’ estimate at c.5.05% YoY ( 2Q19: 5.05% YoY, 1Q19: 5.07% YoY) limits rally. Yesterday (4/11), 3 (three) main Wall Street equity indices reached fresh all-time high with the DJIA closed higher by 115 points or 0.4% to 27,462pt . Both S&P500 and the Nasdaq closed at record high as well, by 0.4% and 0.6% respectively. Strong United States (US) economic data and 3Q19 earnings , and the signing of Phase One trade deal between the US and China end of November contributed to the buying spree.
At the other end, USDIDR closed stable at IDR14.002 yesterday vs. IDR14.066 previously. Meanwhile, the WTI price closed higher by 0.6% to USD56.5/barrel last close.
We keep the following recommendations. These counters have been hit hard since the end of March this year and thus offer bargain opportunity both for trading and longer term 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,