ASIA STOCK INDEX Daily Outlook

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DISCLAIMER: All contents of This Report have been prepared by Research Dept. and are provided solely for informational purpose.

We have taken reasonable measures to ensure the accuracy of the report, however, do not guarantee its accuracy and will not accept liability for any consequential loss or damage which may arise directly or indirectly from any use of the report.

Twitter: @researchvaf

MARKET UPDATE & OUTLOOK

 Asia: Kekhawatiran mengenai situasi yang melibatkan Yunani, Italia dan Bank Sentral Eropa memicu tekanan pada euro pada hari Selasa. Ketakutan geopolitik Eropa melemahkan risk appetite, membebani saham Asia dan mengangkat safe havens termasuk yen dan emas, meski perdagangan tipis dengan beberapa pasar tutup untuk liburan. Indeks terbesar MSCI dari saham Asia Pasifik di luar Jepang turun 0,2 persen dengan pasar A.S. dan Inggris ditutup pada hari Senin. Pasar China, Hong Kong dan Taiwan ditutup untuk liburan pada hari Selasa. Nikkei Jepang berakhir datar, ditahan oleh penguatan yen.

KOSPI Korea Selatan turun 0,4 persen karena investor mengambil keuntungan menyusul reli hingga tembus rekor tertingginya bulan ini.

 Eropa: Saham Eropa jatuh di hari Selasa, catat kerugian 4 hari secara berturutan, dengan saham perbankan pimpin penurunan akibat kekhawatiran politik dan juga adanya downgrade dari sebuah broker global terkenal. Indeks STOXX 600 turun 0,2% sementara indeks FTSE 100 Inggris merosot 0,4%. Kekhawatiran terhadap pemilu awal di Italia telah memicu profit-taking sejak pekan lalu utamanya di sektor perbankan.

 AS & Global Markets: Bursa global melemah di hari Selasa, tertekan oleh kondisi poilitik di Eropa dan pertumbuhan ekonomi AS, mendorong minat pada aset aman resiko seperti yen dan obligasi AS dan Jerman. Harga minyak masih tertekan meskipun ada kesepakatan OPEC pekan lalu untuk memperpanjang program pengurangan produksi minyak mentahnya hingga kuartal pertama 2018. Melemahnya data ekonomi AS (consumer confidence dan core inflation) serta minimnya perkembangan langkah pemangkasan pajak dan stimulus lainnya dari Washington telah meredupkan outlook untuk profit perusahaan dan aktifitas ekonomi yang lebih luas. Di Eropa, pemilu di Italia mungkin terjadi pada awal September setelah Gerakan Bintang 5 menjadi partai besar keempat untuk mendukung peralihan ke sistem pemilihan proporsional. Masalah utang Yunani juga terus meresahkan setelah gagal mencapai kesepakatan mengenai angsuran berikutnya dari program bailout awal bulan ini.

ASIA AND GLOBAL MARKET SPOT PRICE 2016

HIGH / LOW .N225 .KS200 .HSI .DJI /.SPX /.SSEC

RECORD HIGH 38915.87 (29/Dec/89)

309.32 (29/May/2017)

31958.41 (30/Oct/07)

21169.11 (01/Mar/2017)

2400.98 (01/Mar/2017)

6124.04400 (16/Oct./07) 2016 HIGH 19592.90

(21/Dec/16)

264.42 (21/Dec/16)

24364.00 (09/Sep/16)

19987.63 (20/Dec/16)

2277.53 (13/Dec/16)

3538.68940 (04/Jan/16) 2017 HIGH 19998.49

(16/May/2017)

309.32 (29/May/2017)

25744.72 (29/May/2017)

21169.11 (01/Mar/2017)

2418.71 (26/May/2017)

3295.18700 (07/Apr/2017) 2017 LOW 18224.68

(17/Apr/2017)

258.64 (02/Jan/2017)

21883.82 (03/Jan/2017)

19677.94 (19/Jan/2017)

2245.13 (03/Jan/2017)

3016.53050 (11/May/2017) 2016 LOW 14864.01

(24/Jun/16)

222.92 (20/Jan/16)

18278.80 (12/Feb/16)

15450.56 (20/Jan/16)

1810.10 (11/Feb/16)

2638.30160 (27/Jan/16) RECORD LOW 85.25 (06/Jul/50) 31.96

(16/Jun/98) 58.61 (31/Aug/67) 388.20 (17/Jan/55)

132.93 (23/Nov./82)

325.92200 (29/Jul/94)

Closing Prices – 30 Mei 2017

CLOSE CHANGE CLOSE CHANGE

.DJI 21029.47  50.81/ 0.24% .N225 19677.85  4.72/0.02%

/.SPX 2412.91  2.91/ 0.12% .KS200 304.59  1.93/0.63%

/.IXIC 6203.189  7.005/ 0.11% .HSI HOLIDAY  62.36/0.24%

JPY= 110.82  0.42/ 0.38% /.SSEC HOLIDAY  2.33370/0.08%

KRW= 1123.49  2.44/ 0.22% /CLc1 (Oil) 49.65  0.34/0.68%

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RESEARCH DEPARTMENT – PT VALBURY ASIA FUTURES Menara Karya 9th Floor, Jl. HR Rasuna Said Blok X-5 Kav. 1-2 Jakarta 12950 Indonesia, Phone : +6221-25533777 Twitter: @researchvaf

WEEKLY ECONOMIC INDICATORS

DATE WIB CTY INDICATORS PER ACTUAL FORECAST PREV. REV.

Mon/29-May-17 08:15 US Fed's Williams Speaks in Singapore

15:00 EZ M3 Money Supply YoY Apr 4.9% 5.2% 5.3%

20:00 EZ Draghi Speaks at European Parliament Economic Committee All Day CN Bank Holiday/Dragon Boat Festival

All Day DE UK Bank Holiday

All Day GB Bank Holiday/Spring Bank Holiday All Day US Bank Holiday/Memorial Day

Tue/30-May-17 05:45 NZ Building Permits MoM Apr -7.6% -- -1.8% -1.2%

06:30 AU ANZ Roy Morgan Weekly Consumer Confidence Index May-28 -- 110.5

06:30 JP Jobless Rate Apr 2.8% 2.8% 2.8%

06:30 JP Job-To-Applicant Ratio Apr 1.48 1.46 1.45

06:30 JP Overall Household Spending YoY Apr -1.4% -0.7% -1.3%

06:50 JP Retail Sales MoM Apr 1.4% 0.1% 0.2%

08:30 AU Building Approvals MoM Apr 4.4% 3.0% -13.4% -10.3%

08:30 AU Building Approvals YoY Apr -17.2% -18.1% -19.9%

14:00 CH KOF Leading Indicator May 101.6 -- 106 106.3

16:00 EZ Economic Confidence May 109.2 110.0 109.6 109.7

16:00 EZ Business Climate Indicator May 0.90 1.11 1.09 1.10

16:00 EZ Industrial Confidence May 2.8 3.2 2.6

16:00 EZ Services Confidence May 13.0 14.2 14.2

16:00 EZ Consumer Confidence May F -3.3 -3.3 -3.3 -3.6

19:00 DE CPI MoM May P -0.2% -0.1% 0.0%

19:00 DE CPI YoY May P 1.5% 1.6% 2.0%

19:00 DE CPI EU Harmonized MoM May P -0.2% -0.1% 0.0%

19:00 DE CPI EU Harmonized YoY May P 1.4% 1.6% 2.0%

19:30 CA Current Account Balance 1Q -$14.05b -$12.00b -$10.73b -$11.78b

19:30 US Personal Income Apr 0.4% 0.4% 0.2%

19:30 US Personal Spending Apr 0.4% 0.4% 0.0% 0.3%

19:30 US Real Personal Spending Apr 0.2% 0.2% 0.3% 0.5%

19:30 US PCE Deflator MoM Apr 0.2% 0.2% -0.2%

19:30 US PCE Deflator YoY Apr 1.7% 1.7% 1.8% 1.9%

19:30 US PCE Core MoM Apr 0.2% 0.1% -0.1%

19:30 US PCE Core YoY Apr 1.5% 1.5% 1.6%

21:00 US Consumer Confidence May 117.9 119.5 120.3 119.4

21:30 US Dallas Fed Manf. Activity May 17.2 15 16.8

All Day CN Bank Holiday/Dragon Boat Festival

Wed/31-May-17 04:00 KR Business Survey Manufacturing Jun -- 84

04:00 KR Business Survey Non-Manufacturing Jun -- 78

06:00 KR Industrial Production SA MoM Apr 0.8% 1.0%

06:00 KR Industrial Production YoY Apr 5.6% 3.0%

06:01 GB GfK Consumer Confidence May -8 -7

06:50 JP Industrial Production MoM Apr P 4.3% -1.9%

06:50 JP Industrial Production YoY Apr P 6.2% 3.5%

08:00 CN Manufacturing PMI May 51 51.2

08:00 CN Non-manufacturing PMI May -- 54

08:00 NZ ANZ Activity Outlook May -- 37.7

08:00 NZ ANZ Business Confidence May -- 11

14:55 DE Unemployment Change (000's) May -15k -15k

14:55 DE Unemployment Claims Rate SA May 5.8% 5.8%

16:00 EZ Unemployment Rate Apr 9.4% 9.5%

16:00 EZ CPI Estimate YoY May 1.5% 1.9%

16:00 EZ CPI Core YoY May A 1.0% 1.2%

19:00 US Fed's Kaplan Speaks in New York

19:30 CA Quarterly GDP Annualized 1Q 3.6% 2.6%

19:30 CA GDP MoM Mar 0.2% 0.0%

19:30 CA GDP YoY Mar 2.9% 2.5%

19:30 DE Merkel, Lautenschlaeger Address German Credit-Union Conference

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RESEARCH DEPARTMENT – PT VALBURY ASIA FUTURES Menara Karya 9th Floor, Jl. HR Rasuna Said Blok X-5 Kav. 1-2 Jakarta 12950 Indonesia, Phone : +6221-25533777 Twitter: @researchvaf

21:00 US Pending Home Sales MoM Apr 0.5% -0.8%

21:00 US Pending Home Sales NSA YoY Apr -- 0.5%

Thu/01-Jun-17 01:00 US U.S. Federal Reserve Releases Beige Book

05:45 NZ Terms of Trade Index QoQ 1Q 3.9% 5.7%

06:00 KR CPI MoM May 0.2% -0.1%

06:00 KR CPI YoY May 2.0% 1.9%

06:00 KR CPI Core YoY May 1.4% 1.3%

06:30 AU AiG Perf of Mfg Index May -- 59.2

07:00 KR Exports YoY May 16.5% 24.2%

07:00 KR Imports YoY May 14.0% 16.6%

07:00 KR Trade Balance May $7180m $13300m

07:10 US Fed's Williams Speaks in Seoul

07:30 JP Nikkei Japan PMI Mfg May F -- 52

07:30 KR Nikkei South Korea PMI Mfg May -- 49.4

08:30 AU Private Capital Expenditure 1Q 0.8% -2.1%

08:30 AU Retail Sales MoM Apr 0.3% -0.1%

08:30 JP BOJ Harada speaks in Gifu

08:45 CN Caixin China PMI Mfg May 50.1 50.3

12:45 CH GDP QoQ 1Q -- 0.1%

12:45 CH GDP YoY 1Q -- 0.6%

14:15 EZ ECB's Villeroy Speaks at Brussels Economic Forum in Brussels N/A EZ China's Li Meets With EU's Tusk, Juncker in Brussels N/A EZ EU-China Summit in Brussels June 1-2

14:15 CH Retail Sales Real YoY Apr -- 2.1%

14:30 CH PMI Manufacturing May -- 57.4

14:55 DE Markit/BME Germany Manufacturing PMI May F 59.4 59.4

15:00 EZ Markit Eurozone Manufacturing PMI May F 57 57

15:30 HK Retail Sales Value YoY Apr 2.8% 3.1%

15:30 HK Retail Sales Volume YoY Apr 2.5% 2.7%

15:30 GB Markit UK PMI Manufacturing SA May 56.1 57.3

16:00 EZ EU's Dombrovskis Speaks at Brussels Economic Forum 16:00 EZ ECB's Hakkarainen, Costa, EBA's Enria Speak in Lisbon 19:00 EZ EU's Moscovici Speaks at Brussels Economic Forum in Brussels 19:00 EZ Italy's Padoan on Panel at Brussels Economic Forum in Brussels 19:00 US Fed's Powell Speaks on Normalization of Monetary Policy

19:15 US ADP Employment Change May 180k 177k

19:30 US Initial Jobless Claims w/e 239k 234k

19:30 US Jobless Claims 4-wk Avg w/e -- 235.25k

19:30 US Continuing Jobless Claims w/e 1.920m 1.923m

20:30 CA Markit Canada Manufacturing PMI May -- 55.9

20:45 US Markit US Manufacturing PMI May F -- 52.5

21:00 US ISM Manufacturing May 54.6 54.8

21:00 US ISM Prices Paid May 66.4 68.5

21:00 US ISM New Orders May -- 57.5

21:00 US ISM Employment May -- 52

21:00 US Construction Spending MoM Apr 0.5% -0.2%

22:00 US EIA Weekly Crude Stocks w/e -- -4.432m

22:00 US EIA Weekly Dist. Stocks w/e -- -0.485m

22:00 US EIA Weekly Gasoline Stocks w/e -- -0.787m

Fri/02-Jun-17 06:00 KR GDP SA QoQ 1Q F 0.9% 0.9%

06:00 KR GDP YoY 1Q F 2.7% 2.7%

06:50 JP Monetary Base YoY May -- 19.8%

06:50 JP Monetary Base End of period May -- ¥462.2t

08:00 AU HIA New Home Sales MoM Apr -- -1.1%

12:00 JP Consumer Confidence Index May 43.5 43.2

N/A GB United Kingdom Sovereign Debt to be rated by Moody's

15:30 GB Markit/CIPS UK Construction PMI May 52.7 53.1

16:00 EZ PPI MoM Apr 0.2% -0.3%

16:00 EZ PPI YoY Apr 4.5% 3.9%

19:30 CA Labor Productivity QoQ 1Q -- 0.4%

19:30 US Change in Nonfarm Payrolls May 185k 211k

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RESEARCH DEPARTMENT – PT VALBURY ASIA FUTURES Menara Karya 9th Floor, Jl. HR Rasuna Said Blok X-5 Kav. 1-2 Jakarta 12950 Indonesia, Phone : +6221-25533777 Twitter: @researchvaf

(Source: Reuters-FXstreet-DailyFX- Tradingeconomics-forexfactory, Research: @LukmanLoeng,@ErwinRiset-@her1en)

19:30 US Trade Balance Apr -$46.1b -$43.7b

19:30 US Two-Month Payroll Net Revision May -- -6k

19:30 US Change in Private Payrolls May 173k 194k

19:30 US Change in Manufact. Payrolls May 5k 6k

19:30 US Unemployment Rate May 4.4% 4.4%

19:30 US Average Hourly Earnings MoM May 0.2% 0.3%

19:30 US Average Hourly Earnings YoY May 2.7% 2.5%

19:30 US Average Weekly Hours All Employees May 34.4 34.4

19:30 US Labor Force Participation Rate May -- 62.9%

19:30 US Underemployment Rate May -- 8.6%

Sat/03-Jun-17 00:00 US Baker Hughes U.S. Rig Count Jun-02 -- --

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RESEARCH DEPARTMENT – PT VALBURY ASIA FUTURES Menara Karya 9th Floor, Jl. HR Rasuna Said Blok X-5 Kav. 1-2 Jakarta 12950 Indonesia, Phone : +6221-25533777 Twitter: @researchvaf

SSIamM7 (Nikkei Jun Futures) – Last Trading Date: 12 June 2017

 Area 19690 masih efektif membatasi rebound

 Koreksi membentuk horizontal support di 19565

 Support krusial di 19490

 Short-term resistance di 19690 – 19715

(Research – @ErwinRiset)

DATE OPEN HIGH LOW RANGE CLOSE SETTLE CHANGE % CHANGE VOLUME

30 May SSIpmM7 19650 19680 19610 70 19635 ---  30 0.15 17842

30 May SSIamM7 19715 19715 19565 150 19665 19665  25 0.13 37602

29 May SSIpmM7 19675 19695 19670 25 19690 --- UNCH UNCH 3972

29 May SSIamM7 19720 19740 19625 115 19690 19690  15 0.08 28133

26 May SSIpmM7 19680 19720 19590 130 19715 ---  10 0.05 22066

26 May SSIamM7 19775 19800 19680 120 19705 19705  110 0.56 35358

25 May SSIpmM7 19805 19855 19755 100 19815 --- UNCH UNCH 25044

25 May SSIamM7 19710 19850 19710 140 19815 19815  85 0.43 39866

24 May SSIpmM7 19740 19770 19690 80 19730 --- UNCH UNCH 18090

24 May SSIamM7 19780 19790 19690 100 19730 19730  80 0.41 37758

WEEKLY MAY APRIL 2017

HIGH LOW HIGH LOW HIGH LOW HIGH LOW

19740 19565 20030 19165 19325 18190 20030 18190

(29/May) (30/May) (09/May) (01/May) (26/Apr) (17/Apr) (09/May) (17/Apr)

ANALYSIS & RECOMMENDATION RESISTANCE

19995 Horizontal resistance

19860 Reaction high (hourly)

19800 Reaction high (hourly)

19715 Reaction high (hourly)

SUPPORT

19565 Horizontal support (hourly)

19490 Reaction low (hourly)

19280 Reaction low (hourly)

19160 Horizontal support (hourly)

RECOMMENDATION

BUY ----

SELL 19675

STOP LOSS 19745

TARGET 19540

19470

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RESEARCH DEPARTMENT – PT VALBURY ASIA FUTURES Menara Karya 9th Floor, Jl. HR Rasuna Said Blok X-5 Kav. 1-2 Jakarta 12950 Indonesia, Phone : +6221-25533777 Twitter: @researchvaf

KSM7 (Kospi Jun Futures) – Exp. Date: 08 June 2017

 Reversal berkembang sejak catat level puncak di 309.50

 Koreksi hadapi area support di 300.35

 Short-term resistance di 305 – 307

(Research – @ErwinRiset)

DATE OPEN HIGH LOW RANGE CLOSE SETTLE CHANGE %

CHANGE VOLUME

30 May 307.00 307.15 303.20 3.95 304.45 304.45  2.45 0.80 238132

29 May 308.20 309.50 305.25 4.25 306.90 306.90  0.55 0.18 229693

26 May 305.60 308.75 305.20 3.55 307.45 307.45  1.85 0.61 264607

25 May 303.35 305.60 302.40 3.20 305.45 305.60  3.60 1.19 227780

24 May 302.25 302.95 301.40 1.55 302.00 302.00  0.85 0.28 140933

23 May 301.15 303.80 300.70 3.10 301.15 301.15  0.45 0.15 236516

WEEKLY MAY APRIL 2017

HIGH LOW HIGH LOW HIGH LOW HIGH LOW

309.50 303.20 309.50 288.65 288.90 275.45 309.50 259.25

(29/May) (30/May) (29/May) (02/May) (28/Apr) (11/Apr) (29/May) (02/Jan)

ANALYSIS & RECOMMENDATION

RESISTANCE

310.88 50% Fibo. Projection (Daily)

309.50 High 29/May/2017

307.15 High 30/May/2017

305.60 Pivot line (hourly)

SUPPORT

303.20 Reaction low (hourly)

301.15 Reaction low (hourly)

299.00 Reaction low (hourly)

295.80 Low 18/May/2017

RECOMMENDATION

BUY ----

SELL 305.25

STOP LOSS 306.10

TARGET 303.10

302.00

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RESEARCH DEPARTMENT – PT VALBURY ASIA FUTURES Menara Karya 9th Floor, Jl. HR Rasuna Said Blok X-5 Kav. 1-2 Jakarta 12950 Indonesia, Phone : +6221-25533777 Twitter: @researchvaf

HSIM7 (Hang Seng June Futures) – Exp. Date: 29 June 2017

 Setelah hit high 25723 (HSIK7), harga bergrak ke kisaran 25500 an (HSIM7)

 Short-term support di sekitar 25358 – 25300

(Research – @ErwinRiset)

DATE OPEN HIGH LOW RANGE CLOSE SETTLE CHANGE %

CHANGE VOLUME

30 May (HSIM7) H O L I D A Y

29 May (HSIM7) 25410 25555 25377 178 25487 25483  65 0.26 71261

26 May (HSIM7) 25455 25521 25385 136 25422 -  6 0.02 71777

26 May 25669 25723 25585 138 25625 25625  8 0.03 105608

25 May 25446 25666 25436 230 25632 25633  212 0.83 172666

24 May 25378 25422 25303 119 25420 25420  18 0.07 135487

23 May 25375 25445 25299 146 25402 25402  61 0.24 112043

WEEKLY MAY APRIL 2017

HIGH LOW HIGH LOW HIGH LOW HIGH LOW

25555 25377 25723 24220 24646 23706 25723 21863

(29/May) (29/May) (26/May) (05/May) (26/Apr) (19/Apr) (26/May) (03/Jan)

ANALYSIS & RECOMMENDATION

RESISTANCE

26723 High 03/Jul/2015 (Weekly)

26358 High 10/Jul/2015 (Weekly)

25723 High 26/May/2017

25555 High 29/May/2017

SUPPORT

25299 Reaction low (hourly)

25194 Reaction low (hourly)

25028 Reaction low (hourly)

24991 Reaction low (hourly)

RECOMMENDATION

BUY ----

SELL 25525

STOP LOSS 25600

TARGET 25350

25260