Morning Brief
We estimate JCI to move at moderate pace with the support range of 5974-5994
and resistance range of 6105-6115. From global outlook, China urged that the U.S. not to hike tariffs on China products as China will increase the number of products amounting to USD70 billion imported from the U.S. The negotiation between China and the U.S. subdued the global jitters of the trade relation between the two countries. From domestic outlook, the negative sentiment comes from BI’s stance of further hike in benchmark rate adapting to the
European markets closed mixed as investors concerned about Italy’s state budget plan.
Asia
Stocks Recommendation
LPPF Last = 8850
Analysis THR disbursement will hike consumers'
consumption. It is marked by the hike in Consumers' Confidence Index of May increasing to 125.5 from 122.2 in prior month.
Range 8767 - 9668
Action Trading Buy. Cut Loss If Below 8767
TINS Last = 1000
Analysis Global tin prices soared by 1.7% due to the
concern about supply deficit.
Range 920 - 1080
Action Trading Buy. Cut Loss If Below 920
RALS Last = 1485
Analysis RALS’s highest sales always occurs during
Ramadhan month and ahead of Eid Mubarak festive. The THR disbursement in this week likely boosts RALS’s sales.
Range 1384 - 1530
Action Trading buy. Cut Loss If Below 1384
Source: Bloomberg Source: Bloomberg
Source: Bloomberg
Sector Rotation
Source: Bloomberg
Company News
Domestic & Global News
India's Central Bank Raises Rates, Maintains Neutral Stance
India central bank raised the repo rate by 25 basis points to 6.25 points, the first increase since January 2014. This decision is based on inflation concerns, but kept its policy stance as 'neutral'. All six members on the rate panel voted for the increase. The reverse repo was also raised by 25 basis points to 6.00 points. The last policy rate change was a 25 basis points cut in August 2017. (CNBC)
World Bank Revises Its Projection of Indonesia's Economy Growth
World Bank revised the projection of the 2018 Indonesia’s economy growth settling at 5.2% from its prior projection of 5.2%. Besides, the figures are in line with BI’s projection of 5.2% growth. Additionally, World Bank also estimates the consumers’ prices index to decline into 3.5% from the 2017 consumers’ prices index. Of note, the Indonesian Ministry of Finance stated that the global issue such as the U.S. economy normalization, the convenient entered by G20 members and unstable emerging economies remain concerns. (Bisnis Indonesia)
WSKT: Will Receive Payment of IDR4 Trillion
WSKT will received the second payment of Palembang LRT project amounted IDR4 trillion in July. It previously stated that there was a change in LRT payment scheme from the government. The project is worth IDR10.9 trillion, while to date it has received IDR1.8 trillion. The remaining payment will be paid gradually until 2020. (Bisnis Indonesia)
PPRO: Issues MTN of IDR80 Billion
PPRO will issue C Series of XIII MTN of PP Properti Tbk. It has the fixed coupon of 9.25% and matures on June 7th 2021. It will distributed electronically on June 7th 2018 and the first coupon payment will be performed in September 7th 2018. The coupon is paid on the quarterly basis. (Kontan)
JRPT: Secures Marketing Sales of IDR490 Billion
JRPT posted the marketing sales of IDR490 billion in 1Q18.
The Bintaro-based project contributed 52% to the
marketing sales, condominium project by 17%, and non
-Bintaro project by 31%. Of note, it only targets the
marketing sales of 0%-5% due to the sluggish market
conditions. (Bisnis Indonesia)
ABBA: Is Optimistic to Post the 2018 Profit
Global Economic Calendar
Date Country Hour
Jakarta Event Period Actual Consensus Previous
Monday USA 21:00 Factory Orders Apr -0.80% -0.40% 1.60%
04 - June USA 21:00 Durable Goods Orders Apr F -1.60% -- -1.70%
Wednesday USA 19:30 Trade Balance Apr -$48.7B -$51.5b -$49.0b
06 - June
Thursday CHN Tentative Foreign Reserves May -- $3124.85b
07 - June GER 13:00 Factory Orders MoM Apr -- -0.90%
EU 16:00 GDP SA QoQ 1Q F -- 0.40%
EU 16:00 GDP SA YoY 1Q F -- 2.50%
USA 19:30 Initial Jobless Claims 02-Jun -- --
Friday CHN Tentative Trade Balance May -- $28.78b
08 - June CHN Tentative Exports YoY May -- 12.90%
CHN Tentative Imports YoY May -- 21.50%
JPN 06:50 BoP Current Account Balance Apr ¥2198.3b ¥3122.3b
JPN 06:50 GDP SA QoQ 1Q F -- -0.20%
JPN 06:50 GDP Annualized SA QoQ 1Q F -- -0.60%
GER 13:00 Industrial Production SA MoM Apr -- 1.00%
Source: Bloomberg
Domestic Economic Calendar
Source: Bloomberg
Date Hour
Jakarta Event Period Actual Consensus Prev.
Monday 07:30 Nikkei Indonesia PMI Mfg May 51.7 -- 51.6
04 - June 11:00 CPI NSA MoM May 0.21% -- 0.10%
11:00 CPI Core YoY May 2.75% -- 2.69%
11:00 CPI YoY May 3.23% -- 3.41%
Wednesday Tentative Consumer Confidence Index May -- 122.2
06 - June
Friday Tentative Net Foreign Assets IDR May -- 1695.4t
Corporate Calendar
Date Event Company
Monday Annual Shareholder Meeting ADMG, AMFG, BNBA, BUVA, CTBN, CTRA, GPRA, INDS, LMAS,
04 - June PALM, PSKT, RICY, SPMA, TALF, WOOD
Stock Split MAPI (10 for 1)
Cum Dividend Date AMRT (ID2.17 per share)
BIRD (IDR51 per share) BUDI (IDR4 per share JSPT (IDR19 per share) META (IDR3 per share) MIDI (IDR10.7 per share)
TBLA (IDR45 per share)
Tuesday Annual Shareholder Meeting AKPI, APII, BMSR, BTEK, CENT, CFIN, JOKI, IBFN, IIKP, KIOS, KLBF,
05 - June LPKR, MFIN, MKNT, OCAP, SKLT, SONA, TSPC
Stock Buyback PALM
Cum Dividend Date BBMD (IDR14.67 per share)
KBLI (IDR8 per share) MDLN (IDR12 per share) MYOR (IDR27 per share) RALS (IDR40 per share)
RANC (IDR5 per share)
Wednesday Annual Shareholder Meeting ABBA, BACA, BRAM, BSWD, CITA, FAST, FISH, GEMA, IPCM, JRPT,
06 - June KOBX, LPIN, MRAT, MYTX, OASA, PSDN, SKYB, TRIM, WICO
Rights Listing Date BNII
Stock Split ELTY (1 for 10)
Thursday Annual Shareholder Meeting ADES, AISA, BTPN, BUMI, CKRA, CTTH, ESSA, GLOB, JKON, LCKM,
07 - June MAMI, MINA, MTDL, OKAS, SMRA, SSIA, TIFA, TOBA, TRIO, WAPO
Rights Listing Date BKSW, BRPT
Rights Delisting Date PNBS
Friday Annual Shareholder Meeting ASDM, BGTG, BOSS, BRPT, BSIM, CSIS, DPNS, FORZ, GSMF, INCF,
08 - June INRU, KICI, LAPD, LPGI, LPLI, LPPS, MORE, PBID, PORT, SHID, SMMA, TAXI, YPAS
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