August 11, 2017
Embun Pagi Taye Shim
+62-21-515-3281
[email protected]
To subscribe to our Daily Focus, please contact us at
[email protected]
Enduring the pain
Market Index Last Trade JCI MSCI Indonesia MSCI EM HANG SENG KOSPI FTSE DJIA NASDAQ Valuation 2017F JCI
Chg (%)
MoM
5,825.9 26.5 1,056.2 27,444.0 2,359.5 7,389.9 21,844.0 6,216.9
0.0 -1.2 -1.2 -1.1 -1.2 -1.5 -0.9 -2.1
P/E (x)
P/B (x)
16.8
YoY
0.9 0.0 5.0 7.3 -1.5 2.3 3.0 2.6
7.5 0.7 17.8 22.9 15.2 8.4 18.5 21.5
ROE (%)
2.6
18.9
Key Rates Last Trade Chg (bps) BI 7-Day RR
4.75 6.62 6.88
3yr 10yr
MoM
0 -3 1
YoY
0 -28 -27
-50 5 11
- Saatnya untuk meredakan kegembiraan: Sejak awal tahun ini, pasar tetap bullish. Investor asing mendukung pendorong Indeks Harga Saham Gabungan (IHSG) ke rekor tertinggi dengan pembelian aktif. Namun, kita sekarang menyaksikan kegembiraan yang mereda karena investor mulai menilai kembali kembali fundamental pertumbuhan konsumsi Indonesia, 2) janji pembangunan infrastruktur pemerintah, 3) prospek pasar komoditas, dan 4) meningkatnya risiko politik. - Meninjau kembali cerita konsumsi: Masalah dalam pertumbuhan konsumsi yang lamban adalah "inflasi". Kami berpendapat bahwa inflasi adalah argumen yang meyakinkan bagi perusahaan konsumen untuk meningkatkan ASP produk mereka. Tekanan inflasi cenderung membuat investor khawatir terhadap pertumbuhan pendapatan perusahaan konsumer. - Cukupkah pengeluaran dari pemerintah untuk infrastruktur? Kami percaya ada kemacetan struktural terhadap anggaran pemerintah. Kami mengharapkan tantangan untuk bertahan dalam menjaga janji pembangunan infrastrukturnya. - Dinamika penawaran dan permintaan komoditas belum mencapai ekuilibrium. Kami meperkirakan kekhawatiran dalam supply pada minyak mentah dan permintaan terkait pembangunan minyak sawit mentah (UE) dan batubara (China). - Perhatian utama yang kita hadapi pada pemilihan Presiden mendatang (17 April 2019) adalah potensi spillover terhadap ekonomi riil.
FX Last Trade USD/IDR
Chg (%)
13,333.00 1,141.75 109.20 6.65
USD/KRW USD/JPY USD/CNY
MoM
0.0 0.6 -0.8 -0.5
YoY
-0.5 -0.8 -4.2 -1.9
1.7 3.8 7.1 0.6
Berbalik konservatif: Kami percaya inilah saatnya mengelola risiko daripada menjadi bersemangat. Kami merekomendasikan investor untuk mengambil pendekatan konservatif dalam keputusan investasi mereka. Key calls kami adalah BBCA, KLBF, TLKM, BRPT, dan WSBP.
Commodities Last Trade WTI
Chg (%)
48.6 1,286.5 95.9 2,663.0 136.5 10,985.0 6,423.0 20,325.0
Gold Coal Palm Oil Rubber Nickel Copper Tin
MoM
-2.0 0.7 1.4 -1.6 0.0 2.1 -0.5 0.6
7.4 5.7 16.4 -4.6 7.5 20.3 9.3 1.6
YoY
-0.8 -3.9 44.6 -1.9 4.1 2.3 32.5 8.9
GDP forecast revised
JCI Index VS MSCI Emerging Markets (pt)
JCI
(pt)
MSCI EM
1,100
5,500
950 4,500
800 Source: Mirae Asset Sekuritas Indonesia Research
3,500 07/13
07/14
07/15
Mirae Asset Sekuritas Indonesia
(pt)
5,500
JCI
07/16
650 07/17
MSCI EM
(pt) 1,100
August 11, 2017 Embun Pagi
Mirae Asset Sekuritas Indonesia cartoon
2 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Local flashes ERAA: Erajaya sambut upaya pemberantasan ponsel ilegal. Kementrian Perindustrian dan Qualcomm incorporated meneken perjanjian kerjasama terkait dengan proses validasi data base International Mobile Equipment (IMEI). Program tersebut rencananya akan berjalan dalam enam bulan ke depan. Aksi pemerintah ini oleh distributor ponsel disambut dengan sangat baik, salah satunya PT Erajaya Swasembada Tbk (ERAA) yang menyatakan bahwa hal tersebut tak hanya merugikan distributor resmi namun juga merugikan pemerintah dengan potensi pajak yang berkurang. (Kontan) ISAT: Laba Indosat melompat 83% berkah efisiensi. PT Indosat Tbk (ISAT) mampu mencatat laba bersih yang lebih baik. Berdasarkan laporan keuangan perusahaan, kenaikan laba bersih ISAT mencapai 83% year on year (yoy) menjadi Rp 784,21 miliar dari yang sebelumnya Rp 428,07 miliar. Kenaikan laba bersih itu tak lepas dari kenaikan pendapatan ISAT sebesar 8% jadi Rp 15,11 triliun dari sebelumnya Rp 13,94 triliun. Pada saat yang bersamaan, ISAT mampu memotong biaya pemasaran. Hal ini terlihat dari turunnya beban pemasaran sebesar 11% menjadi Rp 593,37 miliar. (Kontan) ASII: Astra tertarik beli tol Trans Jawa milik Waskita. PT Waskita Karya (Persero) Tbk (WSKT) akan mendivestasi 9 ruas tol miliknya. Dari rencana tersebut, sepertinya Tol Trans Jawa bakal laku keras. PT Astra International Tbk (ASII) sudah menyatakan minatnya untuk ambil bagian dalam rencana penjualan ruas tol milik Waskita. (Kontan) JSMR: Jasa Marga kaji akuisisi ruas tol Trans Jawa. PT Jasa Marga (Persero) Tbk (JSMR) juga meminati ruas tol yang bakal dilepas PT Waskita Karya (Persero) Tbk (WSKT). Agus Setiawan, Sekretaris Perusahaan JSMR mengatakan, pihaknya akan fokus pada ruas tol Trans Jawa ketika ambil bagian dalam proses jual beli tersebut. (Kontan) CSAP: Catur Sentosa siap tambah 2 toko Mitra10. PT Catur Sentosa Adiprana Tbk (CSAP) akan menambah dua toko Mitra10 lagi tahun ini. Penambahan tersebut, akan menggenapi rencana CSAP yang akan menambah empat toko baru untuk tahun ini. Dimana dua toko sebelumnya sudah terealisasi pada semester 1-2017. Sebelumnya, CSAP telah membangun dua toko Mitra10. Lokasinya berada di Pantai Indah Kapuk (PIK) dengan luas 300 m2 dan Qbig, BSD dengan luas 7.000 m2. (Kontan) PLIN: September, PLIN rilis global bond US$ 300 juta. PT Plaza Indonesia Realty Tbk (PLIN) berencana mencari pendanaan melalui instrumen surat utang. Pemilik pusat perbelanjaan Grand Indonesia itu berencana menerbitkan global bond senilai US$ 300 juta atau setara sekitar Rp 4 triliun. Transaksi direncanakan akan dilaksanakaan pada September 2017," ujar Lucy Suyanto, Direktur PLIN. Rencana tersebut mempertimbangkan waktu RUPSLB terkait aksi korporasi ini yang baru akan dilaksanakan pada 15 Agustus mendatang. Global Bond tersebut rencananya akan dicatatkan di Bursa Efek Singapura. (Kontan)
Mirae Asset Sekuritas Indonesia
3
August 11, 2017 Embun Pagi
Technical analysis Tasrul
+62-21-515-1140
[email protected]
Jakarta Composite Index (JCI) – Consolidation IHSG akan coba naik dan bertahan diatas normal lower band pada uptrend channel IHSG saat masih dalam pola uptrend jangka pendek relatif valid yang dimulai sejak 176 hari terakhir dengan r-squared = 0.9348 dan bergerak normal dalam rentang +/-1.84 std.deviasi dari centerline. Peluang IHSG bergerak di luar pergerakan normal sekitar 6.52% atau sekitar 11 bar chart. Rata-rata volatilitas normal pergerakan IHSG saat ini sebesar antara +0.40 % / - 0.37 % atau +23.29 point / -21.55 point (rata-rata pergerakan normal positif / negatif selama periode analisis) sebagaimana terlihat pada Figure 1.
Summary Item
Data
Close (Aug 10, 2017)
Item
Data
5,825.95(+0.0%)Trading range
Average index performance (%)
5,804 – 5,849
6.86 Target 176 - Daily 0.9348 - Weekly
Period r-squared Volatility (+/-, %)
5,847 5,865
+0.40 / -0.37 - Monthly +23.29 / -21.55 Stop loss
Volatility (+/-, point)
5,929 5,791
Source: Mirae Asset Sekuritas Indonesia Research
Figure 1. Daily trend - Uptrend ^JKSE [ ^JKSE ] - Daily - 8/10/2017 Open: 5,829 High: 5,834 Low: 5,811 Close: 5,826 Chg. 0.0% Prev. Avg. Price: 5,823.5 Volatility (+) : 0.0040 Volatility (-) : -0.0037 V-Ratio : 1.06
6,098.23 6,012.78 5,901.62 5,901.62 _____ 5,846.6 _____ 5,801.8
5,825.95 5,814.6 5,790.47 5,770.54 5,705.01
Optimization Trading System - ©2010 ^JKSE - Volume = 5,967,649,280.00, Avg.Volume = 5,366,160,896.00
Optimization Trading System - ©2010 Dec 2017
5,967,649,280 5,366,160,896 Feb
Mar
Apr
May
Jun
Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
4 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Aliran dana masuk dan volatilitas pergerakkan indeks naik masih terlihat. Pada Figure 2, terlihat dari hasil optimalisasi terakhir pada periode daily terlihat indikator MFI optimized , indikator W%R optimized dan indikator RSI optimized , menguji masih cenderung naik. Hal ini juga terlihat pada Bollinger Band optimized, dimana masih terlihat ruang gerak untuk naik. Sementara itu pada Figure 3 pada periode weekly pergerakkan indikator MFI Optimized relative flat dan indikator W%R optimized masih cenderung naik. Daily resistance di 5,847 dan daily support di 5,802. Cut loss level di 5,791. Figure 2. Daily MFI optimized ,W%R optimized, RSI optimized & Bollinger Band optimized ^JKSE - MFI Smoothed = 82.22
82.2152
^JKSE - Will%R Smoothed = -33.79 -33.7873
^JKSE - RSI Smoothed = 72.55 72.5539
^JKSE - Daily 8/10/2017 Open 5828.54, Hi 5833.86, Lo 5810.76, Close 5825.95 (0.0%) SMA Typical Price(Average,29) = 5,815.02, BBTop(Average,29,1.84) = 5,862.17, BBBot(Average,29,1.84) = 5,767.88
5,849.3 5,804.5
^JKSE [ ^JKSE ] - Daily - 8/10/2017 Open: 5,829 High: 5,834 Low: 5,811 Close: 5,826 Chg. 0.0% Prev. Avg. Price: 5,823.5 Volatility (+) : 0.0040 Volatility (-) : -0.0037 V-Ratio : 1.06
5,825.95 5,815.02
_____ 5,846.6 _____ 5,801.8
5,825.95
gap up , 5,746 - 5,747 tgl. 19-20 Juni 2017
^JKSE - Volume = 5,967,649,280.00, Avg.Volume = 5,366,160,896.00 Optimization Trading System - ©2010 27 Apr 10 17
25
May
8
15
22
29
Jun
12
19
Jul
10
17
24
31Aug
7
5,967,649,280 5,366,160,896
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
Mirae Asset Sekuritas Indonesia
5
August 11, 2017 Embun Pagi
Figure 3. Weekly Trend – Uptrend, MFI optimized,W%R optimized & Bollinger Band optimized ^JKSE - MFI Smoothed = 45.61
45.6052
^JKSE - Will%R Smoothed = -37.49
-37.488
^JKSE - Weekly 8/10/2017 Open 5780.89, Hi 5833.86, Lo 5749.29, Close 5825.95 (0.8%) SMA Typical Price(Average,8) = 5,798.03, BBTop(Close,8,1.71) = 5,864.19, BBBot(Close,8,1.71) = 5,735.76
5,825.95 5,798.03
^JKSE [ ^JKSE ] - Weekly - 8/10/2017 Open: 5,781 High: 5,834 Low: 5,749 Close: 5,826 Chg. 0.8% Prev. Avg. Price: 5,803.0 Volatility (+) : 0.0107 Volatility (-) : -0.0076 V-Ratio : 1.41
5,996.69 5,895.89 5,825.95 5,795.08 5,726.41
_____ 5,865.3 _____ 5,758.8
Optimization Trading System - ©2010
^JKSE - Volume = 21,395,728,384.00, Avg.Volume = 23,319,584,768.00
23,319,584,768 21,395,728,384
Optimization Trading System - ©2010 Aug Sep Oct
Nov
Dec
2017
Feb
Mar
Apr
May
Jun
22 Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
IHSG untuk mampu naik lebih lanjut, harus mampu bertahan diatas level 5,823. Untuk mampu kembali bergerak naik, indeks ini harus mampu dipertahankan pada level 5,823. Terlihat pada pergerakkan daily, rata-rata kenaikkan normal selama periode analisis adalah sekitar +0.4%, sementara saat masih di level +0.0%. Sementara itu pada pergerakkan weekly potensi kenaikkan normal rata-rata sekitar +1.07%, saat ini sekitar +0.8%. Dengan demikian potensi kenaikkanmasih terlihat. Pada Figure 4,5 dan 6 terlihat perkiraan normal trading range untuk masing-masing periode.
Figure 4. Daily : 5,802 – 5,847
Figure 5. Weekly : 5,759– 5,865
^JKSE [ ^JKSE ] - Daily - 8/10/2017 Open: 5,829 High: 5,834 Prev. Avg. Price: 5,823.5 Volatility (+) : 0.0040 Volatility (-) : -0.0037 V-Ratio : 1.06
Figure 6. Monthly : 5,693– 5,929 x
^JKSE [ ^JKSE ] - Weekly - 8/10/2017 Open: 5,781 High: 5,834 Prev. Avg. Price: 5,803.0 Volatility (+) : 0.0107 Volatility (-) : -0.0076 V-Ratio : 1.41 _____ 5,865.3
^JKSE [ ^JKSE ] - Monthly - 8/10/2017 Open: 5,854 High: Prev. Avg. Price: 5,811.4 Volatility (+) : 0.0405 Volatility (-) : -0.0408 V-Ratio : 0.99 _____ 6,046.9
_____ 5,846.6
5,929.2 5,825.95 5,811.4
5,803.0
5,825.95
5,692.8
5,825.95
5,823.5
_____ 5,574.1 _____ 5,758.8
_____ 5,801.8
^JKSE - Volume = 5,967,649,280.00
^JKSE - Volume = 21,395,728,384.00
^JKSE - Volume = 42,819,543,040.00
5,967,649,280
21,395,728,384 24
31Aug
7
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
13
May
Jun
22Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
42,819,543,040 2016
2017
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
6 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Stocks on our focus list Bank China Construction Bank Indonesia (MCOR)-Weekly,Buy on weakness Harga akan coba naik mendekati center line pada uptrend channel. Secara umum harga saham ini masih bergerak pada uptrend channel yang masih relatif valid (r-squared = 0.756) selama192 minggu terakhir yang bergerak normal dalam rentang +/- 1.17 std.deviasi dari center line. Peluang harga keluar dari pergerakan normal sekitar 24.38 % (sekitar 46 bar chart ). Rata-rata volatilitas normal pergerakan harga saat ini sebesar antara +6.7% / - 5.28 % atau +15.81rupiah / -12.46 rupiah (rata-rata pergerakan normal positif / negatif, selama periode analisis) sebagaimana terlihat pada Figure 7.
Summary Item
Data
Close (Aug 10, 2017) Relative Avg. Price performance to JCI (%) β (beta) Corelation Period
Item
Data
234(-0.8%)Trading range (13.27)Target 0.22 - Daily 0.35 - Weekly 192 - Monthly
r-squared
224 - 250 238 250 274
0.756Stop loss +6.7 / -5.28 +15.81 / -12.46
Volatility (+/-, %) Volatility (+/-, Rp.)
224
Source: Mirae Asset Sekuritas Indonesia Research
Figure 7. Weekly trend – Uptrend Bank Windu Kentj [ MCOR.JK ] - Weekly - 8/10/2017 Open: 232 High: 246 Low: 228 Close: 234 Chg. -0.8% Prev. Avg. Price: 236.0 Volatility (+) : 0.0650 Volatility (-) : -0.0495 V-Ratio : 1.31
296.096 276.111 269.809 _____ 251.3
244.298 239.172 234
_____ 224.3 212.486
Optimization Trading System - ©2010
MCOR.JK - Volume = 54,243,400.00, Avg.Volume = 122,460,184.00
Optimization Trading System - ©2010 Apr Jul Oct
122,460,184 54,243,400 2015
Apr
Jul
Oct
2016
Apr
Jul
Oct
2017
Apr
Jul
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
Mirae Asset Sekuritas Indonesia
7
August 11, 2017 Embun Pagi
Aliran dana keluar mulai terbatas dan volatilitas harga naik mulai terlihat. Pada Figure 8, terlihat dari hasil optimalisasi terakhir, indikator MFI optimized akan menguji support trend line dan RSI optimized cenderung naik. Daily resistance terdekat di 238 sebelum ke weekly resistance di 250. Daily support di 228 dan weekly support di 224.Cut loss level di 224.
Figure 8. Weekly, MFI optimized, RSI optimized & Bollinger Band optimized MCOR.JK - MFI Smoothed = 52.99 52.9861
MCOR.JK - RSI Smoothed = 32.42
32.4222 MCOR.JK - Weekly 8/10/2017 Open 232, Hi 246, Lo 228, Close 234 (-0.8%) BBTop(Average,13,1.17) = 277.12, BBBot(Average,13,1.17) = 237.34, SMA Typical Price(Average,13) = 257.23
265.2 249.3
257.231 234
Bank Windu Kentj [ MCOR.JK ] - Weekly - 8/10/2017 Open: 232 High: 246 Low: 228 Close: 234 Chg. -0.8% Prev. Avg. Price: 236.0 Volatility (+) : 0.0650 Volatility (-) : -0.0495 V-Ratio : 1.31 _____ 251.3 _____ 224.3
234
MCOR.JK - Volume = 54,243,400.00
54,243,400 2015
Apr
Jul
Oct
2016
Apr
Jul
Oct
2017
Apr
Jul
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
8 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Harga akan coba naik dan bertahan diatas rata-rata pada masing-masing periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan diatas rata-rata masing-masing periode (positive area) .Pada pergerakkan daily harga telah terkoreksi -2.1 % sementara itu koreksi normal rata-rata di level -1.41%. Sementara itu pada pergerakkan weekly harga sudah naik +1.8%. Normal kenaikkan sekitar +3.93% Dengan demikian potensi koreksi masih terlihat. Pada Figure 9,10 dan 11 terlihat perkiraan normal trading range untuk masing-masing periode.
Figure 9. Daily : 228 - 238
Figure 10. Weekly : 224 - 250
Bank Windu Kentj [ MCOR.JK ] - Daily - 8/10/2017 Open: Prev. Avg. Price: 234.0 Volatility (+) : 0.0184 Volatility (-) : -0.0218 V-Ratio : 0.84
Figure 11. Monthly : 214 - 274
Bank Windu Kentj [ MCOR.JK ] - Weekly - 8/10/2017 Open: Prev. Avg. Price: 236.0 Volatility (+) : 0.0650 Volatility (-) : -0.0495 V-Ratio : 1.31
Bank Windu Kentj [ MCOR.JK ] - Monthly - 8/10/2017 Open: Prev. Avg. Price: 236.0 Volatility (+) : 0.1577 Volatility (-) : -0.0916 V-Ratio : 1.72
_____ 273.2
_____ 238.3 234 _____ 251.3 _____ 214.4 234
_____ 228.9
234
_____ 224.3
MCOR.JK - Volume = 2,049,300.00
MCOR.JK - Volume = 54,243,400.00
54,243,400
2,049,300 24
31Aug
7
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
Mirae Asset Sekuritas Indonesia
MCOR.JK - Volume = 79,688,496.00
13
May
Jun
22Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
79,688,496 2016
2017
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
9
August 11, 2017 Embun Pagi
Bank Pan Indonesia (PNBN)-Weekly, Buy on weakness Harga akan coba naik dan tembus center line pada uptrend channel. Secara umum harga saham ini juga masih bergerak dalam pola uptrend channel yang masih relatif valid (r-squared = 0.893) selama 37 minggu terakhir dan bergerak normal dalam rentang +/- 1.61 std.deviasi dari center line. Peluang harga keluar dari pergerakan normal sekitar 10.74 % (sekitar 4 bar chart ). Rata-rata volatilitas normal pergerakan harga saat ini sebesar antara +3.61 % / - 2.46 % atau +38.57 rupiah / 26.28 rupiah (rata-rata pergerakan normal positif / negatif, selama periode analisis) sebagaimana sebagaimana terlihat pada Figure 12.
Summary Item
Data
Close (Aug 10, 2017)
Item
Data 1,060–1,120
1,085 (+1.9%) Trading range 10.92 Target 0.03 - Daily 0.85 - Weekly 37 - Monthly
Relative Avg. Price performance to JCI (%) β (beta) Corelation Period r-squared
1,100 1,110 1,200
0.893 Stop loss
Volatility (+/-, %)
1,020
+3.61/ -2.46 +38.57 / -26.28
Volatility (+/-, Rp.) Source: Mirae Asset Sekuritas Indonesia Research
Figure 12. Weekly trend – Uptrend Bank Pan Indones [ PNBN.JK ] - Weekly - 8/10/2017 Open: 1,065 High: 1,090 Low: 1,030 Close: 1,085 Chg. 1.9% Prev. Avg. Price: 1,068.3 Volatility (+) : 0.0361 Volatility (-) : -0.0246 V-Ratio : 1.46
1,143.57 _____ 1,106.9
_____ 1,042.0
1,085 1,081.01 1,070.38 1,021.29 1,018.45
Optimization Trading System - ©2010
PNBN.JK - Volume = 368,703,392.00, Avg.Volume = 87,586,384.00
368,703,392
87,586,384 Optimization Trading System - ©2010 May Jun Jul Aug
Sep
Oct
Nov
Dec
2017
Feb
Mar
Apr
May
Jun
22Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
10 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Aliran dana keluar mulai tertahan dan volatilitas harga naik mulai terlihat. Pada Figure 13, terlihat dari hasil optimalisasi indikator MFI optimized akan menguji support trend line dan W%R optimized masih cenderung naik.Weekly resistance di 1,110 dengan catatan daily resistance dapat ditembus di 1,100. Sementara itu weekly support di 1,040 dengan catatan daily support di 1,070 juga dapat ditembus.Cut loss level di 1,020. Figure 13. Weekly, MFI optimized, RSI optimized & Bollinger Band optimized PNBN.JK - MFI Smoothed = 7.77
7.77083 PNBN.JK - RSI Smoothed = 49.48 49.4792
PNBN.JK - Weekly 8/10/2017 Open 1065, Hi 1090, Lo 1030, Close 1085 (1.9%) BBTop(Average,9,1.61) = 1,164.28, BBBot(Average,9,1.61) = 930.90, SMA Typical Price(Average,9) = 1,047.59 1,129.3
1,047.6
Bank Pan Indones [ PNBN.JK ] - Weekly - 8/10/2017 Open: 1,065 High: 1,090 Low: 1,030 Close: 1,085 Chg. 1.9% Prev. Avg. Price: 1,068.3 Volatility (+) : 0.0361 Volatility (-) : -0.0246 V-Ratio : 1.46
_____ 1,106.9 _____ 1,042.0
PNBN.JK - Volume = 368,703,392.00, Avg.Volume = 87,586,384.00
1,085 1,047.59
1,085
368,703,392
87,586,384 Optimization Trading System - ©2010 Oct Nov Dec 23 2016 Feb
Mar 24Apr
May Jun
Jul
Aug
Sep
Oct
Nov
Dec
2017 Feb
Mar
Apr
May Jun 22Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
Mirae Asset Sekuritas Indonesia
11
August 11, 2017 Embun Pagi
Harga saat ini akan coba naik dan bertahan diatas rata-rata pada masing-masing periode. Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan diatas rata-rata masing-masing periode (positive area) . Jika dilihat lebih lanjut kenaikkan normal pada pergerakkan daily sekitar +1.67%, saat ini di level +2.4%. Sementara itu pada pergerakkan weekly kenaikkan normal sekitar +3.61 %, saat ini sekitar +1.9 %. Dengan demikian potensi kenaikkan masih terlihat. Pada Figure 14,15 dan 16 terlihat perkiraan normal trading range untuk masing-masing periode. Figure 14. Daily : 1,070 – 1,100
Figure 15. Weekly : 1,040 – 1,100
Figure 16. Monthly : 980 – 1,200
x
Bank Pan Indones [ PNBN.JK ] - Daily - 8/10/2017 Open: Prev. Avg. Price: 1,078.3 Volatility (+) : 0.0167 Volatility (-) : -0.0125 V-Ratio : 1.34
Bank Pan Indones [ PNBN.JK ] - Weekly - 8/10/2017 Open: Prev. Avg. Price: 1,068.3 Volatility (+) : 0.0361 Volatility (-) : -0.0246 V-Ratio : 1.46
Bank Pan Indones [ PNBN.JK ] - Monthly - 8/10/2017 Open: Prev. Avg. Price: 1,076.7 Volatility (+) : 0.1125 Volatility (-) : -0.0894 _____ 1,197.8 V-Ratio : 1.26
1,103.1 _____ 1,106.9
_____ 1,096.4
1,085 1,085
1,076.7
1,085 1,078.3
1,068.3 _____ 980.4
_____ 1,042.0 _____ 1,064.9
1,071.4
PNBN.JK - Volume = 350,609,696.00
350,609,696
PNBN.JK - Volume = 368,703,392.00
368,703,392
PNBN.JK - Volume = 381,168,000.00 381,168,000
24
31Aug
7
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
13
May
Jun
22Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
2016
2017
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
12 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Mayora Indah (MYOR) - Weekly, Buy on weakness Harga akan coba naik dan tembus normal lower band pada uptrend channel. Secara umum harga saham ini akan coba naik mendekati normal lower band pada uptrend channel yang masih relatif valid dengan r-squared = 0.880 selama 93 minggu terakhir dan bergerak normal dalam rentang +/-1.56 std.deviasi dari centerline. Peluang harga keluar dari pergerakan normalnya sekitar 11.96 % (sekitar 11 bar chart ). Ratarata volatilitas normal pergerakan harga saat ini sebesar antara +3.35 % / - 2.35 % atau + 61.58 rupiah / -43.20 rupiah (rata-rata pergerakan normal positif / negatif, selama periode analisis) sebagaimana terlihat pada Figure 17.
Summary Item
Data
Close (Aug 10, 2017)
Item
Data 1,820 1,930
Normal trading range 1,865(+6.0%) (8.20) Target 0.45 - Daily
Relative Avg. Price performance to JCI (%) β (beta) Corelation r-squared
1,890
- Weekly
0.57 93
Period
1,910 1,980
- Monthly
0.880 Stop loss +3.35 / -2.35 +61.58 / - 43.20
Volatility (+/-, %) Volatility (+/-, Rp.)
–
1,760
Source: Mirae Asset Sekuritas Indonesia Research
Figure 17. WeeklyTrend – Uptrend Mayora Indah Tbk [ MYOR.JK ] - Weekly - 8/10/2017 Open: 1,760 High: 1,890 Low: 1,760 Close: 1,865 Chg. 6.0% Prev. Avg. Price: 1,838.3 Volatility (+) : 0.0335 Volatility (-) : -0.0235 V-Ratio : 1.42
2,557.93
2,356.62
_____ 1,899.9
2,158.97 2,158.97 1,994.84 1,961.32 1,939.86 1,865
_____ 1,795.1 1,760
Optimization Trading System - ©2010 MYOR.JK - Volume = 12,364,800.00, Avg.Volume = 12,825,071.00
12,825,071 12,364,800
Optimization Trading System - ©2010 Jul Oct
2016
Apr
Jul
Oct
2017
Apr
Jul
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
Aliran dana masuk dan volatilitas harga naik masih terlihat. Mirae Asset Sekuritas Indonesia
13
August 11, 2017 Embun Pagi
Pada Figure 18, terlihat dari hasil optimalisasi, indikator MFI Optimized dan indikator RSI Optimized cenderung naik. Dengan demikian diperkirakan potensi kenaikkan masih terlihat. Perkiraan daily resistance di 1,890 sebelum ke weekly resistance di 1,910 Daily support di 1,830 dan weekly support di 1,790.Cut loss level di 1,760.
Figure 18. Weekly MFI optimized , W%R optimized, RSI optimized & Bollinger Band optimized MYOR.JK - MFI Smoothed = 32.39
32.389
MYOR.JK - RSI Smoothed = 30.83
30.8256
MYOR.JK - Weekly 8/10/2017 Open 1760, Hi 1890, Lo 1760, Close 1865 (6.0%) BBTop(Average,13,1.56) = 2,286.38, BBBot(Average,13,1.56) = 1,871.82, SMA Typical Price(Average,13) = 2,079.10 2,079.1 2,079.1 1,865
Mayora Indah Tbk [ MYOR.JK ] - Weekly - 8/10/2017 Open: 1,760 High: 1,890 Low: 1,760 Close: 1,865 Chg. 6.0% Prev. Avg. Price: 1,838.3 Volatility (+) : 0.0335 Volatility (-) : -0.0235 V-Ratio : 1.42 _____ 1,899.9 _____ 1,795.1
1,939.86 1,865
Optimization Trading System - ©2010 MYOR.JK - Volume = 12,364,800.00, Avg.Volume = 12,825,071.00
12,825,071 12,364,800 Optimization Trading System - ©2010 Jul Oct
2016
Apr
Jul
Oct
2017
Apr
Jul
Created w ith AmiBroker - advanced charting and technical analysis softw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
14 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Harga akan coba naik dan bertahan diatas rata-rata pada masing-masing periode. Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan diatas rata-rata masing-masing periode (positive area) . Jika dilihat lebih lanjut kenaikkan normal pada pergerakkan daily sekitar +1.17%, saat ini di level +0.3 %.Sementara itu pada pergerakkan weekly kenaikkan normal sekitar +4.11saat ini di level +6.0%.Dengan demikan potensi koreksi harga masih terlihat namun untuk sementara cenderung konsolidasi terlebih dahulu . Pada Figure 19,20 dan 21 terlihat perkiraan normal trading range untuk masing-masing periode. Figure 19. Daily : 1,830 – 1,890
Figure 20. Weekly : 1,790 – 1,910
Mayora Indah Tbk [ MYOR.JK ] - Daily - 8/10/2017 Open: Prev. Avg. Price: 1,863.3 Volatility (+) : 0.0117 Volatility (-) : -0.0159 V-Ratio : 0.74
Figure 21. Monthly : 1,740 – 1,980
Mayora Indah Tbk [ MYOR.JK ] - Weekly - 8/10/2017 Open: Prev. Avg. Price: 1,838.3 Volatility (+) : 0.0411 Volatility (-) : -0.0281 V-Ratio : 1.46
Mayora Indah Tbk [ MYOR.JK ] - Monthly - 8/10/2017 Open: Prev. Avg. Price: 1,835.0 Volatility (+) : 0.0816 Volatility (-) : -0.0505 V-Ratio : 1.62
_____ 1,984.7 _____ 1,885.1 1,863.3
1,865
1,835
_____ 1,833.7
1,865
_____ 1,742.4
_____ 1,913.9 1,838.3
1,865
_____ 1,786.6
MYOR.JK - Volume = 447,600.00
MYOR.JK - Volume = 12,364,800.00
MYOR.JK - Volume = 23,388,500.00
12,364,800
23,388,500
447,600 24
31Aug
7
13
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
Buy: Sell: BoW: SoS: Trading Buy: Trading Sell
Jun
22Jul
Aug
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
2016
2017
Created w ith AmiBroker - advanced charting and technical analysis sof tw are. http://w w w .amibroker.com
Source: Mirae Asset Sekuritas Indonesia Research
: Beli, harga sudah menyentuh atau jatuh di bawah support dan indikator teknikal berada di oversold area. : Jual, harga sudah menyentuh atau tembus resistance normal dan indikator berada di overbought area. : Buy on Weakness, beli ketika harga sudah melemah, dimana volume tekanan jual mulai berkurang dan harga mendekati support, serta indikator teknikal sudah berada di oversold area. : Sell on Strength, jual ketika kenaikan harga sudah mulai terbatas dimana volume beli mulai berkurang dan harga mendekati resistance, serta indikator teknikal sudah berada di overbought area. : Beli dan jual kembali secepatnya jika harga sudah mencapai level resistance terdekat, karena kenaikan harga relatif tidak stabil atau hanya sementara. : Jual dan beli kembali secepatnya jika harga sudah mencapai level support terdekat karena koreksi harga relatif tidak stabil atau hanya sementara.
Relative Avg.Price Performance to JCI (%) β (beta) Correlation Period r-squared Volatility (+/-%) Volatility (+/- point or Rp)
Mirae Asset Sekuritas Indonesia
May
: Persentase kenaikan harga saham dari rata-rata sejak IHSG memulai uptrend-nya : Indikator sensitivitas harga saham terhadap IHSG, beta diatas 1 berarti harga makin sensitif terhadap pergerakan IHSG dan sebaliknya : Ukuran kuat hubungan (korelasi) pergerakan harga saham dibanding dengan pergerakan IHSG selama periode analisis. : Periode uptrend / downtrend yang valid dari pergerakan harga saham. : Koefisien determinasi, menunjukkan persentase gerakan yang dapat dijelaskan dengan regresi linier.Nilai R2 terletak antara 0 – 1, dan kecocokan model dikatakan lebih baik kalau R2 semakin mendekati 1 (validitas uptrend atau downtrend makin valid) : Besaran volatilitas normal maksimal/minimal dari pergerakan harga harian selama harga saham bergerak normal pada trend channel dalam persentase. : Besaran volatilitas normal maksimal/minimal dari pergerakan harga harian selama harga saham bergerak dalam periode analisis.
15
August 11, 2017 Embun Pagi
Chart 22. JCI Vs. USD/IDR (pt)
Chart 23. JCI performance (absolute vs. relative)
JCI (L)
(IDR)
USD/IDR (R)
(%, %p)
6,000
13,800
12
5,900
13,700
8
5,800
13,600
4
Absolute
7.5
0.0 5,700
13,500
0
5,600
13,400
-4
5,500
13,300
-8
13,200
-12
5,400 5/11
6/8
7/6
1.2
0.8
1.8
-8.9
8/3
1D
1W
Note: Relative to MSCI EM Index Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Chart 24. Foreigner’s net purchase (EM)
Chart 25. Energy price
1 Day
77
62
50 0
5 Days 19
20 0
CPO
WTI
1Y
Coal
115
-30 -53
-100
(D-3M=100) 135
1M
125
3
-5
-50
0.9
-2.8
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
(USDmn) 100
Relative
-67
105
-150 95
-200 -250
85
-300
-289
-350 Korea
-320 Taiwan Indonesia Thailand Philippines
75 India
Note: The latest figure for India are August 9th, 2017 Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Copper
6/8
7/6
8/3
Gold
Platinum
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Chart 26. Non-ferrous metal price (D-3M=100)
5/11
Chart 27. Precious metal price Nickel
Tin
120
(D-3M=100)
Silver
111
115 110
104
105 97
100 95
90
90 5/11
6/8
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
7/6
8/3
5/11
6/8
7/6
8/3
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
16 Mirae Asset Sekuritas Indonesia
August 11, 2017 Embun Pagi
Table. Key valuation metrics Price
Market Cap
(IDR)
(IDRbn)
1D
1W
1M
1Y
FY16
FY17
FY16
FY17
FY16
FY17
5,826
6,405,489
0.0
0.8
0.9
7.4
16.7
14.6
2.6
0.0
18.9
9.3
BBCA BMRI BBRI BBNI BBTN
18,825 13,325 15,000 7,275 2,740
464,131 310,917 370,037 135,669 29,017
-0.8 -0.6 -0.2 0.0 -0.4
0.4 1.5 1.0 1.4 5.0
2.9 1.7 1.9 6.2 14.6
25.9 15.4 25.0 27.6 40.9
18.5 19.6 10.9 9.1 13.3
20.2 15.7 13.2 10.3 13.4
3.4 1.8 1.9 1.2 1.0
3.6 1.9 2.3 1.4 1.4
20.4 10.3 20.2 13.9 7.6
18.9 12.4 18.1 14.4 10.5
HMSP GGRM ICBP INDF KLBF UNVR
3,420 66,900 8,300 8,450 1,740 48,025
397,808 128,721 96,794 74,195 81,563 366,431
0.0 0.9 -0.6 0.6 0.0 -0.2
-2.6 -5.9 0.0 2.4 0.3 0.7
-9.8 -12.5 -2.4 -1.7 9.8 2.8
-9.8 1.0 -5.1 4.3 3.0 5.4
34.8 18.4 27.8 18.3 30.9 46.3
29.9 17.6 24.9 16.7 32.4 50.2
13.0 3.1 5.7 2.4 6.0 62.9
11.1 3.0 4.9 2.3 6.1 66.9
38.6 17.3 21.8 14.7 20.6 134.1
38.0 17.5 21.0 14.6 19.7 142.2
AALI LSIP SSMS
15,150 1,395 1,390
29,159 9,518 13,240
-0.7 -1.1 -0.7
-0.2 -1.8 -2.1
0.3 -3.1 -10.3
-3.7 -7.6 -13.4
14.8 20.0 22.5
13.6 12.3 20.9
1.9 1.6 3.9
1.6 1.2 3.4
14.1 7.9 18.3
11.7 9.8 16.2
EXCL JSMR PGAS TBIG TLKM SOCI GIAA
3,450 5,575 2,210 6,900 4,710 288 344
36,873 40,463 53,574 31,267 474,768 2,033 8,905
0.9 -0.4 2.3 -2.8 0.0 0.7 0.0
-3.4 0.5 1.8 3.8 0.2 -0.7 0.6
10.2 7.2 -6.0 -6.8 3.1 0.7 0.0
-6.3 -0.2 -30.5 16.5 9.5 -33.0 -27.7
60.8 15.6 15.3 17.4 20.3 8.2 31.7
124.6 19.7 11.0 25.0 20.2 4.3 19.2
1.2 2.3 1.5 14.3 4.7 0.6 2.6
1.7 2.6 1.3 13.4 5.0 N/A 2.5
2.1 15.7 9.8 83.6 24.3 7.4 8.6
1.2 13.5 11.7 62.5 25.8 10.1 12.3
SMGR CPIN INTP JPFA
10,900 2,810 18,875 1,140
64,654 46,078 69,483 13,008
0.0 -1.4 -1.7 2.7
4.1 1.4 1.8 -3.8
9.0 -13.0 7.2 -20.0
-4.4 -27.0 -2.6 -21.4
12.0 22.6 14.6 7.7
18.8 16.7 23.3 8.1
1.9 3.6 2.2 1.9
2.1 2.9 2.6 1.4
16.3 16.5 15.5 28.6
11.0 18.5 10.6 17.0
ITMG ADRO ANTM INCO PTBA
20,150 1,850 700 2,610 13,475
22,768 59,174 16,822 25,934 31,048
-0.4 2.5 0.7 -1.1 2.9
-1.2 0.3 2.9 7.4 1.1
10.6 16.0 -0.7 39.9 11.6
62.5 60.2 -11.9 1.6 32.8
10.4 12.0 298.3 N/A 13.1
7.9 10.7 61.7 195.5 9.1
1.5 1.3 1.2 1.1 2.5
1.7 1.3 1.0 1.0 2.3
15.0 11.1 0.4 0.1 20.5
21.4 12.0 0.8 0.6 27.8
UNTR AKRA BMTR LPPF MNCN MPPA SCMA SILO
30,425 6,600 505 10,850 1,515 565 2,450 9,850
113,489 26,401 7,170 31,659 21,628 3,039 35,823 12,811
2.0 0.4 -1.9 -4.0 -3.5 1.8 2.5 5.9
4.2 0.4 -1.0 -0.9 -3.5 -4.2 2.5 5.3
10.1 4.8 -14.4 -12.1 -12.2 -9.6 4.3 -9.2
70.0 -6.0 -52.6 -48.6 -30.2 -69.1 -22.5 0.3
15.8 23.5 41.8 21.9 17.7 211.4 27.2 150.3
16.4 22.8 N/A 15.0 13.2 44.9 20.9 97.7
1.9 3.5 0.9 23.8 2.7 3.3 11.9 4.5
2.5 3.4 N/A 11.5 2.1 1.3 9.0 3.9
12.7 15.7 2.0 136.4 15.4 1.6 45.7 3.5
15.9 15.6 N/A 86.5 16.2 1.2 45.3 4.2
BSDE ADHI ASRI CTRA LPKR PTPP PWON SMRA WIKA WSKT
1,850 2,090 356 1,160 780 3,000 680 1,095 2,060 2,310
35,606 7,442 6,995 21,530 18,001 18,600 32,749 15,797 18,478 31,356
1.6 -1.4 -1.1 -2.5 1.3 0.7 -1.4 -2.2 -0.5 -0.9
2.5 -1.4 1.7 8.4 9.1 -2.0 -1.4 10.1 2.5 0.9
2.5 -3.7 12.7 -2.1 9.9 -6.3 8.8 -9.5 -6.4 2.7
-18.5 -25.1 -35.3 -28.2 -33.3 -30.9 3.8 -39.2 -31.8 -18.1
18.8 23.6 13.6 19.9 18.6 23.1 16.3 61.3 14.4 17.3
13.7 12.4 8.2 18.2 16.4 13.6 17.2 46.4 14.7 12.6
1.6 1.4 1.0 2.2 0.9 2.4 3.1 3.1 1.8 3.1
1.5 1.2 0.9 1.6 0.9 1.7 3.1 2.3 1.5 2.1
9.1 5.9 7.5 9.8 5.0 14.4 21.0 5.1 12.9 16.6
11.4 9.7 11.3 10.0 5.6 12.7 18.8 5.7 10.1 18.0
ASII
7,925
320,832
-0.9
1.9
-9.7
-2.5
22.1
16.3
3.0
2.6
14.2
16.1
Company Name
Ticker
Jakarta Composite Index FINANCIALS Bank Central Asia Bank Mandiri Persero Bank Rakyat Indonesia Persero Bank Negara Indonesia Persero Bank Tabungan Negara Persero
JCI
CONSUMER HM Sampoerna Gudang Garam Indofood CBP Sukses Makmur Indofood Sukses Makmur Kalbe Farma Unilever Indonesia AGRICULTURAL Astra Agro Lestari PP London Sumatera Indonesia Sawit Sumbermas Sarana INFRASTRUCTURE XL Axiata Jasa Marga Perusahaan Gas Negara Tower Bersama Infrastructure Telekomunikasi Indonesia Soechi Lines Garuda Indonesia BASIC-INDUSTRIES Semen Indonesia Charoen Pokphand Indonesia Indocement Tunggal Prakarsa Japfa Comfeed Indonesia MINING Indo Tambangraya Megah Adaro Energy Aneka Tambang Vale Indonesia Tambang Batubara Bukit Asam TRADE United Tractors AKR Corporindo Global Mediacom Matahari Department Store Media Nusantara Citra Matahari Putra Prima Surya Citra Media Siloam International Hospital PROPERTY Bumi Serpong Damai Adhi Karya Alam Sutera Realty Ciputra Development Lippo Karawaci Pembangunan Perumahan Pakuwon Jati Summarecon Agung Wijaya Karya Waskita Karya MISCELLANEOUS Astra International
Price Performance (%)
P/E(X)*
P/B(X)*
ROE(%)*
Source: Bloomberg, Mirae Asset Sekuritas Indonesia *Note: Valuation metrics based on Bloomberg consensus estimates
Mirae Asset Sekuritas Indonesia
17
August 11, 2017 Embun Pagi
Sector performance
Top 10 market cap performance
Name
Index
Agricultural Mining Basic-Industry Miscellaneous Industry Consumer Goods Property & Construction Infrastructure Finance Trade Composite
Chg (%)
1,735.4 1,495.1 618.4 1,357.1 2,391.6 507.6 1,232.5 981.8 923.2 5,825.9
Ticker 0.0 0.7 -0.4 -1.2 0.1 -0.1 0.5 -0.1 0.6 0.0
Price
BSSR IJ IBST IJ HERO IJ MEDC IJ BTEK IJ INAF IJ SILO IJ KAEF IJ BJBR IJ TOWR IJ
Market Cap (IDRbn) 2200 4300 1200 2820 1170 2640 9850 3280 2840 4450
Chg (%)
5,756 5,809 5,020 9,398 6,770 8,182 12,811 18,217 27,537 45,403
15.79 10.26 8.11 6.82 6.4 6.02 5.91 5.81 4.4 3.73
Source: Bloomberg
Top 5 leading movers
Top 5 lagging movers
Name UNTR BNGA TOWR ADRO MABA
Chg (%) IJ IJ IJ IJ IJ
Close 2.0 5.7 3.7 2.5 11.7
Name 30,425 1,385 4,450 1,850 2,000
Chg (%)
BBCA IJ ASII IJ BMRI IJ BRAM IJ RMBA IJ
Close -0.8 -0.9 -0.6 -19.9 -8.9
18,825 7,925 13,325 14,500 410
Source: Bloomberg
Economic Calendar Time 12:01am 1:00am 5:30am 5:45am 6:30am All Day 1:00pm 1:00pm 1:45pm 1:45pm 11th-16th 11th-16th 7:30pm 7:30pm 8:40pm 10:30pm
Currency USD USD NZD NZD AUD JPY EUR EUR EUR EUR CNY CNY USD USD USD USD
Detail 30-y Bond Auction Federal Budget Balance Business NZ Manufacturing Index FPI m/m RBA Gov Lowe Speaks Bank Holiday German Final CPI m/m German WPI m/m French Final CPI m/m French Prelim Non-Farm Payrolls q/q M2 Money Supply y/y New Loans CPI m/m Core CPI m/m FOMC Member Kaplan Speaks FOMC Member Kashkari Speaks
Forecast -60.9B
Previous 2.94|2.3 -90.2B 56.2 0.2%
0.4% 0.3% -0.3% 0.4% 9.5% 810B 0.2% 0.2%
0.4% 0.0% -0.3% 0.4% 9.4% 1540B 0.0% 0.1%
Note: Time is based on Indonesian local time Source: Forex Factory
Disclaimers This report is prepared strictly for private circulation only to clients of PT Mirae Asset Sekuritas Indonesia (MASI). It is purposed only to person having professional experience in matters relating to investments. The information contained in this report has been taken from sources which we deem reliable. No warranty (express or implied) is made to the accuracy or completeness of the information. All opinions and estimates included in this report constitute our judgments as of this date, without regards to its fairness, and are subject to change without notice. However, none of MASI and/or its affiliated companies and/or their respective employees and/or agents makes any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof. We expressly disclaim any responsibility or liability (express or implied) of MASI, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither MASI, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. This document is not an offer to sell or a solicitation to buy any securities. This firms and its affiliates and their officers and employees may have a position, make markets, act as principal or engage in transaction in securities or related investments of any company mentioned herein, may perform services for or solicit business from any company mentioned herein, and may have acted upon or used any of the recommendations herein before they have been provided to you. © PT Mirae Asset Sekuritas Indonesia 2016.
18 Mirae Asset Sekuritas Indonesia