The JCI September 28, 2020
๐๐๐ฉ๐ญ๐๐ฆ๐๐๐ซ ๐๐, ๐๐๐๐
* ๐๐ก๐ ๐๐๐ ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ซ๐๐ง๐ ๐: ๐,๐๐๐๐ฉ๐ญ – ๐,๐๐๐๐ฉ๐ญ (๐ ๐ซ๐ข๐๐๐ฒ ๐๐ฅ๐จ๐ฌ๐: ๐,๐๐๐๐ฉ๐ญ)
* ๐๐๐ฅ๐ฅ ๐๐ญ๐ซ๐๐๐ญ ๐๐ง๐๐๐ ๐ก๐ข๐ ๐ก๐๐ซ ๐จ๐ง ๐ญ๐๐๐ก๐ง๐ข๐๐๐ฅ ๐ซ๐๐๐จ๐ฎ๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐ซ๐๐๐๐ง๐ญ ๐ฐ๐ก๐ข๐ฉ๐ฌ๐๐ฐ ๐ญ๐ซ๐๐ง๐
* ๐๐ก๐ ๐๐๐ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐๐ฑ๐ญ๐๐ง๐ ๐ซ๐๐๐จ๐ฎ๐ง๐ย ๐๐ฆ๐ข๐ ๐๐๐๐๐๐๐ ๐ฐ๐จ๐ซ๐ซ๐ข๐๐ฌ
Morning,
The Jakarta Composite Index (JCI) today (28/9) is expected to be within the range of 4,900pt โ 5,100pt, to extend gain in the middle of COVID-19 uncertainties. ย Meanwhile, Friday last week (25/9) the DJIA closed higher by ย 359 ย points or 1.3% to 27,174pt, while S&P500 and the Nasdaq both increased by ย 1.6% and 2.3%, respectively. The United States (US) stock market gained Friday last week after posting steep losses during September, following a massive comeback since March bottom related to the outbreak of the COVID-19 spread. At present, investors monitor 2 (two) factors mainly on the parliamentary which include 1) voting ong the USD2.4tr of COVID-19 second aid package, and 2) hearing on president Trumpโs nominee for Supreme Court to start on October 12.
๐๐ง๐๐๐ฏ๐จ๐ซ๐๐๐ฅ๐ ๐๐ฑ๐ญ๐๐ซ๐ง๐๐ฅ ๐๐ฏ๐๐ง๐ญ๐ฌ ๐๐ง๐ ๐ญ๐ข๐ ๐ก๐ญ๐๐ง๐ข๐ง๐ ๐ฆ๐จ๐ฏ๐๐ฌ ๐จ๐ ๐ฆ๐จ๐ง๐๐ญ๐๐ซ๐ฒ ๐ฉ๐จ๐ฅ๐ข๐๐ข๐๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฉ๐ฎ๐ฅ๐ฅ ๐๐๐๐ค ๐ข๐ง๐๐ฅ๐จ๐ฐ๐ฌ ๐ญ๐จ ๐ญ๐ก๐ ๐๐๐ (๐)
The JCIโs Friday (25/9) gain by 2.1% that landed the index to 4,946pt was mainly driven by domestic buying on heavy market- capitalization counters such as BBCA, ASII, UNVR, BBRI, BMRI, and BBNI. These 6 (six) counters are also those included in the top rank of daily trading values as well as with a track record of sound fundamental. Apart of ASII that has more volatility for its direct exposures on the automotive and commodity sectors, the others are relatively less volatile due to its โindirectโ nature of exposure.ย In addition, all counters are of significant size in total assets so as to be the proxies of the countryโs economy. ย The more confidences and more knowledgeable on these proxies counters have driven domestic investors to re-enter during the recent sell offs, both for short term traders as well as longer time investors.ย The former bet on the incoming foreign funds while the latter to average cost down, we observe.ย To remind, last week recorded that foreign net sell has occurred during the last 16 (sixteen) weeks to accumulate at IDR42.2tr or about similar to that of last year. To the contrary, ย number of local investors on August increased by 22% YoY.
Foreign inflow is expected to start at the slightest signs of tightening of the monetary acts both in the US and Europe, in our observation.
At the other end, last week ย the WTI price closed lower by 0.2% ย at USD40.2/barrel as compared to the previous one on demand fears. ย Meanwhile the USDIDR ย closedย at IDR14.951 vs. IDR14.949 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,