DAILY RESEAR CH
Market Activity
Market Index : 6,691.3
Index Movement : +8.2 0.12%
Market Volume : 22,265 Mn shrs Market Value : 9,547 Bn rupiah
Last
Close +/- %
Leading Movers
UNVR 4,660 290 6.6
BSIM 1,095 205 23.0
HMSP 1,035 35 3.5
BMRI 7,225 75 1.0
Lagging Movers
EMTK 1,965 -95 -4.6
TLKM 3,650 -50 -1.4
ARTO 16,275 -150 -0.9
KLBF 1,590 -35 -2.2
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
BBRI 140 TLKM 122
BMRI 119 JPFA 26
BBCA 109 UNTR 24
UNVR 75 MDKA 22
BUKA 45 INDF 20 Money Market
Last
Close +/- %
USD/IDR 14,263 10.0 -0.1
JIBOR O/N 5.9 0.0 -0.3
Dual Listing Securities Last
Close +/- %
TLKM 25.5 -0.2 -0.9
EIDO 24.0 0.2 1.0
Global Indices Last
Close +/- %
DJIA 35,921 -159 -0.44
S&P 500 4,649 3 0.06
Euro Stoxx 4,358 9 0.21
MSCI World 3,202 0 0.01
STI 3,238 7 0.21
Nikkei 29,278 171 0.59
Hang Seng 25,248 252 1.0
Commodities*
Last
Close +/- %
Brent Oil 82.9 0.2 0.28
Coal (ICE) 149.7 -0.3 -0.20 CPO Malay 4,881 -39.0 -0.79
Gold 1,862 12.5 0.68
Nickel 19,813 8.0 0.04
Tin 37,280 428.0 1.15
*last price per closing date
Changes Changes
Changes
Changes
Changes Thursday, 11 Nov 2021
IHSG Berpotensi Bergerak Menguat
Bursa saham AS semalam ditutup mixed cenderung menguat: Dow Jones -0.44%;
S&P500 +0.06% dan Nasdaq +0.82% setelah indeks harga konsumen bulan Oktober melonjak ke level tertinggi dalam tiga dekade dan lonjakan bond yield, serta rebound saham-saham teknologi yang membuat Nasdaq positif. Yield UST 10Y closing kemarin di level 1.56% dan USD Index naik +0.27% di level 95.15.
Dari pasar komoditas bergerak mixed; harga minyak ditutup di USD 81.20/barel (- 0.07%); timah menguat ke USD 37,722/ton (+1.19%); emas (+0.87%) ke USD 1,864/toz; nikel flat ke USD 19,752/ton (-0.01%); Newc coal turun di level USD 149/ton (-0.6%).
Bursa Asia kemarin ditutup mixed cenderung menguat: Shanghai +1.2%, Hang Seng +1.0%, Nikkei +0.6%, Kospi -0.2%. IHSG ditutup menguat +0.12% pada perdagangan kemarin all time high ke level 6,691. Total keseluruhan net buy kemarin sebesar IDR 245.9 miliar dengan net foreign buy di pasar regular sebesar IDR 277.3 miliar dan net sell di pasar negosiasi sebesar IDR 31.4 milyar. Net buy asing tertinggi di pasar reguler dicatatkan oleh BBRI (IDR 140.5 miliar), BMRI (IDR 119.4 miliar), dan BBCA (IDR 109.2 miliar). Net sell asing tertinggi di pasar reguler dicetak oleh TLKM (IDR 122.4 miliar), JPFA (IDR 26.3 miliar), dan UNTR (IDR 24.5 miliar). Indeks EIDO ditutup +0.97%.
Kasus positif Covid-19 Indonesia (11/11) bertambah sebanyak 435 kasus (-9.4%
dibanding hari sebelumnya) dengan daily positive rate sebesar 0.2%. Sebanyak 470 orang yang dinyatakan sembuh kemarin dengan recovery rate sebesar 96.4%.
Perkembangan vaksinasi di Indonesia kemarin dosis pertama bertambah sekitar 812 ribu orang yang mencapai 62% dari target, sedangkan pemberian dosis kedua bertambah sekitar 756 ribu orang.
Para investor juga menanti rilis data neraca perdagangan Indonesia di bulan Oktober hari Senin pekan depan. Dari pasar regional pagi ini, Nikkei dibuka menguat +0.40% dan Kospi +0.72%. IHSG kami perkirakan bergerak menguat seiring cenderung menguatnya bursa global dan regional.
DAILY RESEARCH
12 November 2021
Market Highlights
CPIN: 9M21, Laba Bersih Naik +18% yoy
Equity Research│12 November 2021
www.samuel.co.id
2
COMMODITIES
Gold: Gold 100 Oz Futures (USD/Troi oz) Oil: Generic 1st Crude Oil, Brent (USD/Barel)
Coal: Newcastle Coal (USD/MT) CPO: Bursa Malaysia Crude Palm Oil (MYR/MT)
Pulp: Generic Bleached Softwood Craft Pulp (CNY/MT) Nickel: London Metal Exchange Nickel Future (USD/MT)
9-Nov-20 9-Dec-20 9-Jan-21 9-Feb-21 9-Mar-21 9-Apr-21 9-May-21 9-Jun-21 9-Jul-21 9-Aug-21 9-Sep-21 9-Oct-21
0 10 20 30 40 50 60 70 80 90 100
9-Nov-20 30-Nov-20 21-Dec-20 11-Jan-21 1-Feb-21 22-Feb-21 15-Mar-21 5-Apr-21 26-Apr-21 17-May-21 7-Jun-21 28-Jun-21 19-Jul-21 9-Aug-21 30-Aug-21 20-Sep-21 11-Oct-21 1-Nov-21
40 90 140 190 240 290 340
9-Nov-20 9-Dec-20 8-Jan-21 7-Feb-21 9-Mar-21 8-Apr-21 8-May-21 7-Jun-21 7-Jul-21 6-Aug-21 5-Sep-21 5-Oct-21 4-Nov-21
1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000
9-Nov-20 9-Dec-20 8-Jan-21 7-Feb-21 9-Mar-21 8-Apr-21 8-May-21 7-Jun-21 7-Jul-21 6-Aug-21 5-Sep-21 5-Oct-21 4-Nov-21
4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000
9-Nov-20 9-Dec-20 8-Jan-21 7-Feb-21 9-Mar-21 8-Apr-21 8-May-21 7-Jun-21 7-Jul-21 6-Aug-21 5-Sep-21 5-Oct-21 4-Nov-21
10,000 12,000 14,000 16,000 18,000 20,000 22,000
9-Nov-20 30-Nov-20 21-Dec-20 11-Jan-21 1-Feb-21 22-Feb-21 15-Mar-21 5-Apr-21 26-Apr-21 17-May-21 7-Jun-21 28-Jun-21 19-Jul-21 9-Aug-21 30-Aug-21 20-Sep-21 11-Oct-21 1-Nov-21
1,400 1,500 1,600 1,700 1,800 1,900 2,000
COVID-19 Data Indonesia
7 Day Running Covid-19 Data
Total 1D Change Total Dai l y Total Cl osed Cases
Cases % Deaths Deaths Acti ve Cases %
11/9/2021 4,248,843 0.01 143,578 21 (75,107,210) 1867.71 11/8/2021 4,248,409 0.01 143,557 12 (74,889,311) 1862.76 11/7/2021 4,248,165 0.01 143,545 11 (74,009,452) 1842.15 11/6/2021 4,247,721 0.01 143,534 15 (73,583,651) 1832.31 11/5/2021 4,247,320 0.01 143,519 19 (72,583,949) 1808.94 11/4/2021 4,246,802 0.01 143,500 19 (71,725,888) 1788.94 11/3/2021 4,246,174 0.02 143,481 24 (70,702,974) 1765.10
Average 17 1823.99
Source: SSI Research, Bloomberg
Equity Research│12 November 2021
CPIN: 9M21, Laba Bersih Naik +18% yoy
PT Charoen Pokphand Indonesia Tbk (CPIN) merilis laporan keuangan 9M21nya, Pendapatan 9M21 meningkat +24% yoy menjadi IDR 37.6 triliun. Laba kotor meningkat +12% yoy menjadi IDR 5.9 triliun. Laba Operasional meningkat +13% yoy menjadi IDR 3.4 triliun. Laba bersih meningkat +18% yoy menjadi IDR 2.6 triliun. (Laporan Keuangan)
Comment :
Pada 3Q21, CPIN mencatatkan pendapatan sebesar IDR 12.1 triliun (+14% yoy, -7% qoq). Peningkatan ini terjadi akibat adanya kenaikan pendapatan dari segmen broiler (+25.8% yoy, -9.2% qoq menjadi IDR 6.1 triliun) serta segmen ayam olahan (+31% yoy, -7% qoq menjadi IDR 1.7 triliun), sementara pendapatan dari segmen pakan turun -1.9% yoy (+1.2% qoq) menjadi IDR 3.5 triliun. Meski ada peningkatan pendapatan, laba kotor pada 3Q21 justru turun dibanding 3Q20 (-60% yoy) maupun 2Q21 (-74% qoq) menjadi IDR 688 miliar karena adanya peningkatan COGS sebanyak +28% yoy (+10% qoq) menjadi IDR 11.4 triliun. Perseroan juga membukukan kerugian operasional menjadi IDR -246 miliar pada 3Q21 (vs laba operasional IDR 860 miliar pada 3Q20) karena adanya peningkatan beban usaha sebesar +9% yoy, +10% qoq menjadi IDR 934 miliar. Akibatnya, CPIN mengalami kerugian sebesar IDR -176 miliar pada 3Q21 (vs IDR 617 miliar pada 3Q20).
CPIN: Under Review (Previous: BUY: 25.2x PE '22E, 4.0x PBV '22E, TP: IDR 7,300)
Equity Research│12 November 2021
www.samuel.co.id
4 Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E
Banks
BBCA HOLD 12.1 7,675 8,100 7,857 5.5 34.9 29.7 5.1 4.7 14.7 15.7
BBRI BUY 7.8 4,250 5,300 4,815 24.7 27.1 16.0 2.8 2.1 10.3 13.1
BMRI BUY 4.3 7,225 8,000 8,234 10.7 19.7 13.3 1.8 1.6 9.1 12.3
BBNI BUY 1.7 7,025 8,500 8,401 21.0 43.9 12.6 1.2 1.0 2.6 8.0
BBTN BUY 0.2 1,790 2,300 2,207 28.5 11.8 7.4 0.9 0.8 8.1 11.4
Average 25.1 11.1 1.3 1.2 6.6 10.6
Consumer (Staples)
ICBP BUY 1.2 8,850 12,000 11,221 35.6 20.5 15.7 4.1 3.5 19.9 22.1
INDF BUY 0.7 6,325 9,500 8,416 50.2 11.4 11.5 1.4 1.3 11.9 11.0
KLBF BUY 1.0 1,590 1,950 1,753 22.6 27.3 24.0 4.3 3.9 15.7 16.3
UNVR SELL 2.1 4,660 4,500 4,805 -3.4 24.8 24.5 36.1 35.6 145.7 145.0
SIDO HOLD 0.3 915 970 980 6.0 29.4 24.6 8.5 7.8 29.0 31.9
Average 22.7 20.1 10.9 10.4 44.5 45.3
Cigarette
HMSP SELL 1.4 1,035 870 1,074 -15.9 14.0 15.4 4.0 4.1 28.5 26.4
GGRM BUY 0.7 33,325 38,240 34,910 14.7 7.6 7.4 1.1 1.0 14.2 13.9
Average 10.8 11.4 2.5 2.5 21.4 20.1
Healthcare
MIKA BUY 0.4 2,220 2,960 2,876 33.3 37.6 24.7 6.4 5.6 17.1 22.8
SILO BUY 0.2 8,500 11,300 11,366 32.9 118.1 20.1 2.3 2.1 2.0 10.6
HEAL BUY 0.2 1,000 1,380 1,421 38.0 9.2 7.9 1.2 1.1 13.3 13.5
Average 55.0 17.6 3.3 2.9 10.8 15.6
Poultry
CPIN BUY 1.3 6,100 7,300 7,370 19.7 34.7 26.6 4.8 4.4 13.7 16.4
JPFA BUY 0.3 1,660 2,000 2,274 20.5 20.8 9.9 1.7 1.5 8.0 15.3
MAIN BUY 0.0 710 1,380 808 94.4 n/a 10.4 0.8 0.7 -0.9 6.8
WMUU BUY 0.0 196 340 290 73.5 n/a 8.9 n/a 1.9 n/a 21.8
Average 27.7 15.7 2.4 2.2 7.0 12.8
Retail
MAPI BUY 0.2 865 1,130 991 30.6 n/a 33.0 2.7 2.6 -10.4 7.9
RALS BUY 0.1 785 900 719 14.6 n/a 16.7 1.3 1.3 -1.5 7.7
ACES BUY 0.3 1,415 1,900 1,525 34.3 30.1 22.1 4.8 4.3 16.1 19.6
LPPF SELL 0.1 4,040 3,150 3,307 -22.0 n/a 7.7 18.3 9.4 -147.3 122.8
Average 30.1 23.9 2.9 2.7 1.4 11.7
Pulp and Paper
INKP BUY 0.6 8,650 9,900 9,475 14.5 9.9 11.9 0.8 0.7 7.6 6.0
Average 9.9 11.9 0.8 0.7 7.6
Media
MNCN BUY 0.2 965 1,650 1,368 71.0 6.0 5.0 0.8 0.7 13.6 14.6
SCMA BUY 0.4 408 490 480 20.1 26.2 22.9 7.8 6.7 29.7 29.3
Average 16.1 14.0 4.3 3.7 21.6 21.9
Telco
EXCL HOLD 0.4 3,000 3,000 3,721 0.0 85.7 43.5 1.7 1.6 1.9 3.8
ISAT BUY 0.5 5,650 7,250 7,568 28.3 n/a 65.7 2.4 0.3 -5.6 0.4
TLKM BUY 4.7 3,650 4,050 4,476 11.0 17.4 16.2 3.0 2.9 17.2 17.7
Average 51.5 41.8 2.3 1.6 4.5 7.3
Telco Retail
ERAA BUY 0.1 640 1,625 843 153.9 3.4 2.8 0.4 0.3 11.0 11.9
Telco Infra
TBIG SELL 0.8 2,840 2,500 3,189 -12.0 59.2 45.1 9.8 6.2 16.5 13.7
TOWR BUY 0.8 1,170 1,600 1,653 36.8 20.9 18.3 5.8 4.9 27.9 27.0
Average 40.0 31.7 7.8 5.6 22.2 20.4
Equity Research│12 November 2021
Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E
Auto
ASII HOLD 3.2 6,175 6,750 6,940 9.3 13.8 12.6 1.2 1.2 9.0 9.6
Average 13.8 12.6 1.2 1.2 9.0
Mining Contracting
UNTR BUY 1.1 22,375 31,000 30,134 38.5 12.0 8.9 1.4 1.2 11.2 13.8
Average 12.0 8.9 1.4 1.2 11.2
Property
BSDE BUY 0.3 1,170 1,350 1,453 15.4 17.5 13.1 0.7 0.7 4.0 4.9
PWON HOLD 0.3 530 530 612 0.0 40.8 14.3 1.1 1.7 2.6 12.1
ASRI SELL 0.0 188 130 208 -30.9 14.5 6.7 0.3 0.3 2.3 4.7
LPKR SELL 0.1 144 140 192 -2.8 n/a n/a 0.3 0.3 -0.5 -0.2
SMRA BUY 0.2 960 1,200 1,117 25.0 80.0 40.0 2.0 2.1 2.5 5.3
CTRA BUY 0.3 1,125 1,360 1,359 20.9 26.8 20.8 1.4 1.3 5.1 6.2
Average 35.9 19.0 1.0 1.1 2.7 5.5
Industrial Estate
SSIA BUY 0.0 492 700 900 42.3 n/a 44.7 0.6 0.6 -1.6 1.3
DMAS HOLD 0.1 228 250 270 9.6 15.2 13.4 1.5 1.7 9.6 12.7
KIJA SELL 0.0 174 150 N/A -13.8 15.8 13.4 0.6 0.5 4.0 3.4
Average 15.5 23.8 0.9 0.9 4.0 5.6
Construction
PTPP BUY 0.1 1,260 1,400 1,345 11.1 60.0 21.0 0.6 0.5 0.9 2.5
ADHI BUY 0.1 1,130 1,420 1,088 25.7 161.4 37.7 0.7 0.7 0.4 1.9
WSKT BUY 0.2 895 1,220 999 36.3 n/a n/a 0.7 0.8 -44.6 -4.2
WIKA HOLD 0.1 1,325 1,440 1,296 8.7 13.8 9.0 0.7 0.6 5.0 7.1
Average 78.4 22.6 0.7 0.7 -9.5 1.8
Cement
INTP HOLD 0.6 12,375 13,200 13,807 6.7 34.4 28.6 2.0 2.0 5.8 6.9
SMGR BUY 0.7 9,425 13,050 11,453 38.5 24.7 19.9 1.6 1.5 6.3 7.4
Average 29.6 24.2 1.8 1.7 6.1 7.2
Precast
WSBP BUY 0.1 160 230 140 43.8 14.5 4.3 0.4 0.4 2.9 8.9
WTON BUY 0.0 282 450 310 59.6 25.6 7.6 0.7 0.7 2.9 8.9
Average 20.1 6.0 0.6 0.5 2.9 8.9
Oil and Gas
PGAS BUY 0.5 1,505 1,680 1,727 11.6 18.8 9.0 1.5 1.4 8.0 15.3
AKRA HOLD 0.2 4,370 4,400 4,930 0.7 19.0 17.3 2.0 1.9 10.6 11.0
MEDC BUY 0.2 565 1,090 837 92.9 n/a 7.7 0.8 0.8 -9.9 9.7
Average 18.9 11.3 1.4 1.3 2.9 12.0
Chemical
TPIA BUY 1.8 7,375 10,250 9,775 39.0 508.6 84.8 5.1 5.1 1.0 6.0
BRPT BUY 1.1 970 1,150 1,150 18.6 202.7 123.9 5.1 5.1 2.5 4.2
ESSA SELL 0.1 334 225 540 -32.6 n/a n/a 2.3 1.2 -20.0 -0.5
Average 355.7 104.3 4.2 3.8 -5.5 3.2
Utilities
JSMR BUY 0.4 4,180 5,000 5,032 19.6 63.3 21.0 1.3 1.2 2.0 5.6
Metal
ANTM BUY 0.7 2,370 3,230 3,214 36.3 38.2 23.2 2.9 2.7 7.7 11.7
MDKA SELL 1.0 3,280 3,000 3,251 -8.5 n/a 17.8 11.9 13.0 15.7 72.9
INCO BUY 0.6 4,830 6,700 6,388 38.7 39.9 19.3 1.7 1.6 4.3 8.4
TINS BUY 0.1 1,600 1,775 1,710 10.9 n/a 1818.2 2.3 2.7 -4.2 0.1
Average 39.1 469.6 4.7 5.0 5.9 23.3
Equity Research│12 November 2021
www.samuel.co.id
6
Revenue Net Profit
Period Price (IDR) Period Price (IDR) mn shares % (IDRbn) Usage (IDRbn) (IDRbn)
TAYS*
Jaya Swarasa Agung (Consumer Non-
Cyclicals)
2 - 8 Nov 336 - 360 19 - 23 Nov n.a. 240 21.9 81 - 86 Capex and Working
Capital 25-Nov 147 3 1H21
RMKE* RMK Energy
(Energy) 10 - 15 Nov 160 - 230 30 Nov - 3 Des n.a 875 20.0 140 - 201
Supporting facilities improvement, debt
payment and working capital
7-Des 414 39 1H21
ADCP*
Adhi Commuter Property (Properties & Real
Estate)
12 -25 Nov 130 - 200 n.a n.a 8,011 28.6 1,041 - 1,602 n.a n.a n.a n.a n.a
Source : e-ipo.co.id, *Note: Subject to OJK approval
6-Des 1,582 365 1H21
Capex, capital injection to subsidiaries and
working capital n. a 1,190 15.0 3,309 - 3,761
CMRY*
Cisarua Mountain Dairy (Consumer Non-Cyclicals)
10 - 17 Nov 2,780 - 3,160 30 Nov - 3 Des
7-Des 11 2 1H21
n.a 208 20.0 26 - 29 Working capital
WSGH* Wira Global Solusi
(Technology) 9 - 17 Nov 125 -140 29 Nov - 3 Des DEPO*
Caturkarda Depo Bangunan (Consumer Cyclicals)
1 - 8 Nov 426 - 525 18 - 23 Nov n.a. 1,024 15.1 436 - 538
Capital injection to subsidiary, working capital, business expansion and debt
payment
Listing Financial Result
Period Dayamitra
Telekomunikasi (Infrastructures)
MTEL* Business expantion
and working capital 26 Oct - 4 Nov 775 - 975 16 - 18 Nov n.a.
Ticker Company (Sector) Book Building Offering Shares issued Proceeds
1H21
3,227 701
BINO* Perma Plasindo
(Industrials) 28 Oct - 5 Nov 120 - 145 18 - 23 Nov n.a. 435 52 - 64
Debt payment and lending facility to
subsidiary 20.0
25,240 29.9 19,794 - 24,902 22-Nov
25-Nov 1,167 47 1H21
2,707 126 1H21
Upcoming 2021 IPO's
WMPP*
Widodo Makmur Perkasa (Consumer
Non-Cyclicals)
27 Oct - 9 Nov 160 - 220 22 - 24 Nov n.a. 8,333 25.0 1,333 - 1,833 26-Nov
Business expansion, capital injection to subsidiary, debt
payment and working capital
7M21
25-Nov 141 1
Stock Rec. JCI Wgt Last price TP SSI TP Cons SSI Upside PE (x) PE (x) PBV (x) PBV (x) ROE (%) ROE (%)
(%) (IDR) (IDR) (IDR) (%) 20A 21E 20A 21E 20A 21E
Coal
ITMG SELL 0.3 21,575 19,700 25,422 -8.7 37.0 7.1 2.0 1.6 5.4 22.1
ADRO SELL 0.7 1,685 1,530 2,116 -9.2 15.6 11.9 1.0 1.0 6.3 8.7
PTBA BUY 0.4 2,680 3,200 3,310 19.4 12.6 4.2 1.8 1.2 14.6 29.3
Average 21.7 7.7 1.6 1.3 8.8 20.0
Plantation
AALI BUY 0.2 10,750 14,500 13,109 34.9 24.8 11.7 1.1 1.0 4.4 8.7
LSIP SELL 0.1 1,395 1,370 1,660 -1.8 13.7 11.2 1.0 0.9 7.5 8.3
TBLA BUY 0.1 855 980 1,100 14.6 7.1 5.7 0.6 0.6 8.9 10.3
SIMP SELL 0.1 488 388 N/A -20.5 44.4 28.7 0.5 0.5 1.2 1.8
SSMS HOLD 0.1 1,120 1,200 1,900 7.1 32.9 14.2 2.4 2.1 7.4 15.0
Average 24.6 14.3 1.1 1.0 5.9 8.8
Technology
ASSA SELL 0.2 3,390 3,000 3,883 -11.5 131.9 80.1 8.0 7.3 6.1 9.1
EMTK BUY 1.4 1,965 2,800 2,808 42.5 57.8 131.0 9.7 5.3 16.7 4.1
Average 61.8 59.9 5.3 3.9 9.0 9.2
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Equity Research│12 November 2021
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 3,202 0.42 0.01 (0.94) 5.62 2.96 19.03 26.65 3,243 2,500
U.S. (S&P) 4,649 2.56 0.06 (0.66) 6.61 4.53 23.78 30.13 4,719 3,519
U.S. (DOW) 35,921 (158.71) (0.44) (0.56) 4.13 1.23 17.36 22.19 36,566 28,902
Europe 4,358 9.18 0.21 0.57 7.47 3.12 22.67 27.12 4,375 3,401
Emerging Market 1,281 7.01 0.55 1.37 1.24 (1.25) (0.76) 8.70 1,449 1,173
FTSE 100 7,384 44.03 0.60 1.43 3.56 2.65 14.30 16.49 7,394 6,264
CAC 40 7,060 14.39 0.20 1.03 7.81 2.57 27.17 31.64 7,080 5,307
Dax 16,083 15.28 0.10 0.33 6.18 0.91 17.23 23.21 16,115 13,005
Indonesia 6,691 8.20 0.12 1.59 3.16 8.99 11.91 22.58 6,704 5,428
Japan 29,541 263.42 0.90 (0.24) 4.64 5.45 7.64 15.75 30,796 25,215
Australia 7,450 68.05 0.92 (0.09) 2.32 (1.82) 13.10 16.08 7,633 6,378
Korea 2,949 24.50 0.84 (0.67) 1.13 (8.07) 2.64 19.14 3,316 2,461
Singapore 3,238 6.75 0.21 0.57 4.05 1.74 13.86 19.40 3,274 2,686
Malaysia 1,519 (1.89) (0.12) (0.81) (4.11) 1.12 (6.66) (4.52) 1,696 1,484
Hong Kong 25,248 251.85 1.01 0.09 1.14 (4.79) (7.28) (3.52) 31,183 23,681
China 3,533 40.32 1.15 0.17 (0.40) 0.23 1.72 5.81 3,732 3,292
Taiwan 17,453 (107.13) (0.61) 2.19 6.01 1.35 18.46 32.00 18,034 13,170
Thailand 1,632 1.97 0.12 0.38 (0.68) 6.51 12.63 22.16 1,658 1,327
Philipines 7,332 (44.03) (0.60) 1.78 3.15 11.82 2.69 4.38 7,476 6,081
1D 1D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 145.46 (0.96) 5.91 7.04 8.83 146.87 133.56
Inflation Rate (yoy, %) 1.66 1.68 1.33
Gov Bond Yld (10yr, %) 6.05 (4.35) 6.86 5.86
US Fed Rate (%) 0.25 0.25 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,263 10.00 (0.07) 0.53 (0.39) 0.84 (1.49) (1.25) 14,635 13,865
Japan 114.10 0.04 (0.04) (0.60) (0.43) (3.23) (9.51) (7.86) 114.70 102.59
UK 1.34 (0.00) (0.01) (0.94) (1.60) (3.16) (2.19) 1.93 1.42 1.31
Euro 1.14 (0.00) (0.03) (1.04) (0.72) (2.41) (6.30) (3.04) 1.23 1.14
China 6.39 0.00 (0.04) 0.09 0.93 1.38 2.12 3.75 6.63 6.36
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 82.87 0.23 0.28 2.89 (0.93) 16.00 59.98 89.20 86.70 42.63
CPO 5,121 (54.00) (1.04) (2.99) 0.89 10.65 31.61 48.18 5,440 3,343
Coal 149.65 (0.30) (0.20) (1.51) (41.88) (8.64) 85.90 139.63 270.00 62.25
Tin 37,708 428.00 1.15 3.45 3.64 5.83 85.53 107.19 38,800 18,175
Nickel 19,759 5.00 0.03 3.23 3.35 2.02 18.94 23.72 21,425 15,630
Copper 9,634 100.50 1.05 2.06 0.95 1.28 24.05 39.92 10,748 6,887
Gold 1,861 (0.69) (0.04) 2.37 5.75 6.19 (1.95) (0.82) 1,959 1,677
Silver 25.21 (0.05) (0.18) 4.35 11.73 8.76 (4.51) 3.82 30 21
Source: Bloomberg, SSI Research
Change (%) 1 Year
Change (%) 1 Year
Change (%) 1 Year
Commodity Indicators Last Price Regional Indices Last Price
Exchange Rate (per USD) Last Price
DISCLAIMER: Analyst Certification: The views expressed in this research accurately reflect the personal views of the analyst(s) about the subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or views in his research. The analyst(s) principally responsible for the preparation of this research has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. This document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not be suitable for all investors.
Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed.
All rights reserved by PT Samuel Sekuritas Indonesia
Equity Research│12 November 2021
www.samuel.co.id
8
Research Team
Suria Dharma Head of Equity Research, Strategy, Banking, Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148
Lionel Priyadi Macro Equity Strategist lionel.priyadi@samuel.co.id +6221 2854 8854
Fikri Permana Senior Economist fikri.permana@samuel.co.id +6221 2854 8144
William Mamudi, CFTe, CMT Senior Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382
Muhamad Alfatih, CSA, CTA, CFTe Senior Technical Analyst m.alfatih@samuel.co.id +6221 2854 8129 Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco Infra, Chemical yosua.zisokhi@samuel.co.id +6221 2854 8387
Dessy Lapagu Aviation, Coal, Metal dessy.lapagu@samuel.co.id +6221 2854 8392
Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8346
M. Farras Farhan Media, Poultry, Oil & Gas farras.farhan@samuel.co.id +6221 2854 8346
Calista Muskitta Retail calista.muskitta@samuel.co.id +6221 2854 8331
Pebe Peresia Consumer Staples pebe.peresia@samuel.co.id +6221 2854 8339
Andreas Kristo Saragih Constructions, Toll Roads andreas.kristo@samuel.co.id +6221 2864 8303
Adolf Richardo Editor adolf.richardo@samuel.co.id +6221 2864 8854
Ashalia Fitri Research Associate ashalia.fitri@samuel.co.id +6221 2854 8163
Equity Institutional Team
Benny Bambang Soebagjo Head of Institutional Equity Sales benny.soebagjo@samuel.co.id +6221 2854 8312
Ronny Ardianto Institutional Equity Sales ronny.ardianto@samuel.co.id +6221 2854 8399
Anthony Yunus Institutional Equity Sales anthony.yunus@samuel.co.id +6221 2854 8314
Henry Sutanto Institutional Equity Sales henry.sutanto@samuel.co.id +6221 2854 8329
Fachruly Fiater Sales Trader fachruly.fiater@samuel.co.id +6221 2854 8325
Lucia Irawati Sales Trader lucia.irawati@samuel.co.id +6221 2854 8173
Suryanti Salim Sales Trader suryanti.salim@samuel.co.id +6221 2854 8173
Muhammad Faisal Dealer m.faisal@samuel.co.id +6221 2854 8173
Private Wealth Management
Evelyn Satyono Head of PWMEquity Sales evelyn.satyono@samuel.co.id +6221 2854 8380
Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395
GittaWahyuRetnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365
WahyudiBudiyono Dealer wahyudi.budiyono@samuel.co.id +6221 2854 8152
Fixed Income Sales Team
R. Virine Tresna Sundari Head of Fixed Income virine.sundari@samuel.co.id +6221 2854 8170
Rudianto Nugroho Fixed Income Sales rudianto.nugroho@samuel.co.id +6221 2854 8306
Sany Rizal Keliobas Fixed Income Sales sany.rizal@samuel.co.id +6221 2854 8337
Julio Simangunsong Fixed Income Sales julio.natanael@samuel.co.id +6221 28548384
Fendy Fixed Income Sales fendy@samuel.co.id +6221 28548385
Equity Retail / Online Team
Joseph Soegandhi Head of OLT joseph.soegandhi@samuel.co.id +6221 2854 8872
Nugroho Nuswantoro Head of Marketing Online Trading nugroho.nuswantoro@samuel.co.id +6221 2854 8372
Damargumilang Head of Equity Retail damargumilang@samuel.colid +6221 2854 8309
Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163
Michael Alexander Equity Retail michael.alexander@samuel.co.id +6221 2854 8163
Albertha Palma Equity Assistant albertha.palma@samuel.co.id +6221 2854 8163
