Today s Market: BoW: ITMG, INTP, RALS, SCMA

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Today’s Market:

IHSG diperkirakan bergerak mixed. Bursa Amerika ditutup melemah setelah data makroekonomi terbaru AS kurang memuaskan. Data inflasi cenderung rendah dan masih melambat selama periode April serta tingkat kepercayaan konsumen yang turun untuk bulan kedua secara berturut-turut pada Mei. Adapun dari data tersebut, data dollar index cenderung melemah. Dari dalam negeri, pemerintah menaikkan asumsi dari 5.1% ke 5.3% menunjukkan opti-misme akan ekonomi. Perlu juga diperhatikan perubahan terhadap MSCI weighting yang akan efektif per 1 Juni 2017. Adapun saham-saham yang mengalami perubahan yakni:

 _{Penambahan: INTP (16 juta lembar), MNCN (32 juta}

lembar)

 Pengurangan: BBCA (110 juta lembar), EXCL (23 juta

lembar), LPKR (208 juta lembar), PWON (107 juta lem-bar) dan TBIG (16 juta lemlem-bar).

Adapun perubahan dalam small cap MSCI yakni:

 _{Penambahan: BHIT, BIRD, BUMI, DOID, HRUM, INAF,}

MEDC, NIKL, TBLA, WSBP

 _{Pengurangan: APLN, ARNA, BISI, LPCK, MLPL}

Secara teknikal indeks hari Rabu (31/5), IHSG diprediksi bergerak di kisaran 5681 - 5717.

Wednesday, May 31, 2017

Source: Bloomberg, Sinarmas Investment Research

BoW:ITMG, INTP, RALS, SCMA

ID X Statistics C lo sing

JCI 5,693.39

Transaction Value Regular M arket (IDR tn) 3.889 Transaction Volume Regular M arket (mn shares) 6,474

Foreign Net Buy (Sell) (IDR bn) (148.62)

Foreign Net Buy (Sell) 1.66

Total M arket Capitalization (IDR tn) 6,222.92

LQ45 949.51 (0.45) 19.88 EIDO 26.76 (0.11) 28.22 IDX 23.44 (0.13) 27.32 DOW JONES 21,029.47 (0.24) 20.69 S&P 500 2,412.91 (0.12) 18.05 NASDAQ 6,203.19 (0.11) 23.88 FTSE 7,526.51 (0.28) 20.57 NIKKEI 19,677.85 (0.02) 3.38 HANG SENG 25,701.63 0.24 17.28 STRAITS TIM ES 3,204.79 (0.30) 11.17 KLSE 1,765.34 0.03 4.30 USD/IDR 13,320.00 (0.08) 1.14 EUR/IDR 14,886.45 0.34 (4.85) JPY/IDR 120.12 0.05 (4.17) SGD/IDR 9,616.42 0.06 (3.13) AUD/IDR 9,959.24 0.64 (2.16) GBP/IDR 17,082.18 0.12 (3.21)

Crude Oil (USD/barrel) 49.46 8:17:46 AM (7.91)

Coal (USD/mn tons) 68.00 5/30/2017 (18.07)

Natural Gas (USD/mmBtu) 3.14 8:17:08 AM (15.66)

Gold (USD/ounce) 1,261.01 8:27:46 AM 9.89

Nickel (USD/mn tons) 9,125.00 8:27:44 AM (8.93)

Tins (USD/mn tons) 20,435.00 5/30/2017 (3.27)

CPO (M YR/mn tons) 2,757.00 5/30/2017 (14.33)

Rubber (JPY/kg) 248.00 8:03:41 AM (5.34)

Wheat (USD/bushel) 434.50 8:17:23 AM 6.50

Corn (USD/bushel) 370.75 8:16:56 AM 5.33

P rice _{T ransactio n}Last _{C hg (%)}YT D C o mmo dities

Other Indices C lo sing 1-D ay C hg (%) _{C hg (%)}YT D

C urrency Spo t R ate R ate (ID R ) 1-D ay C hg (%) _{C hg (%)}YT D IHSG turun sebanyak 19 poin (0.33%) ke level 5693.39.

Sementara LQ45 turun sebanyak 4.3 poin (0.45%) ke level 949.51. Foreign net sell sebesar Rp 148.62 miliar.

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Daily Corporate and Industry News

 Presiden Bank Sentral Eropa (ECB) Mario Draghi menyebutkan, zona euro masih membutuhkan stimulus

tambahan demi mengejar target inflasi, kendati pertumbuhan kawasan tersebut mulai menunjukkan pemuli-han yang kuat. Source: Bisnis Indonesia

 _{Euro cenderung melemah terhadap sejumlah mata uang utama lainnya seiring dengan rencana European}

Cen-tral Bank (ECB) yang akan menambah stimulus moneter. Source: Bisnis Indonesia

 Sejumlah kebijakan ekonomi Presiden Amerika Serikat Donald Trump dinilai masih membingungkan para

pengusaha di negeri Paman Sam. Source: Bisnis Indonesia

 Porsi kepemilikan asing dalam surat berharga negara yang dapat diperdagangkan kian meningkat seiring

dengan sematan investment grade dari Standard and Poor’s. Capital inflow mencapai Rp 28,88 triliun. Source: Bisnis Indonesia

 Beberapa asumsi makro RAPBN 2018: pertumbuhan ekonomi 5,4%-6,1%, inflasi 3,5% ± 1%, kurs rupiah

13.500 Rp/USD, suku bunga Surat Perbendaharaan Negara (SPN) 3 bulan 4,8%-5,6%, harga minyak mentah Indonesia (ICP) 45-60 USD/barel, lifting minyak dan gas bumi 1.965-2.050 ribu barel/hari. Source: Bisnis In-donesia

 Permintaan kenaikan target rasio pajak menjadi sekitar 13% dari produk domestik bruto dalam Rancangan

APBN 2018 dinilai tak realistis. Angka realistis yang dalam perhitungan Ditjen Pajak di kisaran 11%-12% dari PDB. Source: Bisnis Indonesia

 Pertumbuhan kredit perbankan mulai menggeliat memasuki akhir kuartal II/2017. Selain sektor infrastruktur

dan konsumsi, segmen komoditas turut mendorong pertumbuhan kredit, karena kenaikan harga interna-sional. Source: Bisnis Indonesia

 _{Tingginya permintaan jelang bulan Ramadan berhasil membuat beberapa harga bahan pokok merangkak naik}

sehingga inflasi Mei diperkirakan mencapai kisaran 0,38%. Source: Bisnis Indonesia

 Survei yang dilakukan Kantar Worldpanel, salah satu perusahaan berbasis consumer knowledge,

menunjuk-kan indomie merupamenunjuk-kan merek terfavorit nomor satu masyarakat Indonesia setidaknya dalam 5 tahun tera-khir. Source: Bisnis Indonesia

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Daily Corporate and Industry News

 PT PP Properti Tbk. membidik perolehan penjualan borongan atau bulk sales sebesar Rp 1 triliun atau

seban-yak 35% dari total target prapenjualan sepanjang tahun ini. Source: Bisnis Indonesia

 _{PT Kereta Api Indonesia memperkirakan penandatangan kontrak pinjaman pembiayaan pembangunan}

prasarana kereta api ringan atau light rail transit Jabodetabek tahap pertama digelar pada Juli-Agustus 2017. Source: Bisnis Indonesia

 Bank-bank pelat merah yang terlibat dalam pembiayaan proyek kereta api ringan (light rail transit/LRT)

Ja-karta, Bogor, Depok, dan Bekasi bersedia menetapkan suku bunga rendah selama mendapatkan jaminan kepastian usaha dari pemerintah. Source: Bisnis Indonesia

 Korporasi milik negara PT Waskita Karya (Persero) Tbk. menambah modal perusahaan yang dimiliki melalui

anak usahanya, PT Waskita Toll Road, yakni PT Jasamarga Kualanamu Tol senilai total Rp 99 miliar. Source: Bisnis Indonesia

 _{PT Jasa Marga Tbk. berencana menjual 19% sahamnya di jalan tol Jakarta Outer Ring Road W1 di PT Jakarta}

Lingkar Barat Satu, setelah sebelumnya melepas 15% kepemilikannya di PT Trans Marga Jateng kepada PT Astratel Nusantara. Source: Bisnis Indonesia

 _{Pemerintah Provinsi Jawa Barat dan Japan International Cooperation Agency atau JICA menargetkan nota}

ke-sepahaman proyek Bandung Intra Urban Tol Road (BIUTR) dapat segera diteken. Source: Bisnis Indonesia

 PT Bank China Construction Bank Indonesia (CCB Indonesia) dan PT Bank UOB Indonesia membidik

pertum-buhan kredit sebesar dua digit pada tahun ini dengan mengandalkan sektor infrastruktur. Source: Bisnis In-donesia

 _{Emiten transportasi PT Adi Sarana Armada Tbk. menargetkan pertumbuhan pendapatan tahun ini mencapai}

Rp 1,7 triliun atau tumbuh 8% dibandingkan tahun lalu. Source: Bisnis Indonesia

 PT Armidian Karyatama Tbk., akan melakukan penawaran umum perdana saham sebanyak 1,63 miliar saham

biasa, atau sebanyak-banyaknya 20% dari seluruh modal disetor perseroan. Source: Bisnis Indonesia

 Nasib pailit Koperasi Simpan Pinjam Pandawa Mandiri Group ditentukan oleh majelis hakim pemutus yang

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Daily Corporate and Industry News

 Korporasi tambang milik Negara, PT Aneka Tambaang (Persero) Tbk., telah memulai penjualan bijih nikel

ka-dar rendah (≤ 1,7% Ni) ke luar negeri karena telah mendapat rekomendasi ekspor bijih mineral ka-dari Ke-menterian Energi dan Sumber Daya Mineral. Source: Bisnis Indonesia

 PT J Resources Asia Pasifik Tbk. (PSAB) mencatatkan penurunan laba yang dapat diatribusikan kepada

pemilik entitas induk sebesar 62,22% dari USD 3,97 juta pada kuartal I/2016 menjadi USD 1,5 juta pada kuar-tal I/2017. Source: Bisnis Indonesia

 _{PT Bank Mandiri (Persero) Tbk. menerbitkan obligasi senilai Rp 6 triliun dengan penawaran kupon berkisar}

7,8% hingga 8,65%. Source: Bisnis Indonesia

 Korporasi pembiayaan milik negara spesialis usaha mikro, PT Permodalan Nasional Madani atau PNM bakal

menerbitkan obligasi total senilai Rp 4 triliun hingga 2018 guna menyokong pendanaan modal kerja. Source: Bisnis Indonesia

 _{PT Bank MNC International Tbk. (BABP) berencana untuk menambah modal melalui right issue maksimum Rp}

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World Equity Indices

Source: Bloomberg, Sinarmas Investment Research N O IN D IC ES

1 DOW JONES INDUS. AVG 21,169.11 17,063.08 3,604.44 20.69 15.97 17.36 2.99 3.00 5,987.74 5,987.74

2 S&P 500 INDEX 2,418.71 1,991.68 368.97 18.05 18.85 18.57 2.77 2.82 21,545.51 21,545.51

3 NASDAQ COM POSITE INDEX 6,217.34 4,574.25 1,195.78 23.88 29.89 23.65 3.61 3.67 9,669.86 9,669.86 4 S&P/TSX COM POSITE INDEX 15,943.09 13,609.58 2,362.40 18.16 21.27 16.63 1.63 1.60 2,300.67 1,708.50

5 M EXICO IPC INDEX 50,154.33 43,902.25 6,300.45 14.66 30.60 18.09 2.57 2.58 5,669.99 303.71

6 Euro Stoxx 50 Pr 3,666.80 2,678.27 293.70 8.99 20.02 15.12 1.50 1.49 2,970.65 3,319.70 7 FTSE 100 INDEX 7,554.21 5,788.74 1,284.19 20.57 34.45 15.19 1.82 1.87 2,033.55 2,611.89 8 CAC 40 INDEX 5,442.10 3,955.98 668.88 14.42 23.87 15.65 1.44 1.45 1,493.92 1,669.46 9 DAX INDEX 12,841.66 9,214.10 1,855.67 17.27 20.68 13.86 1.70 1.68 1,183.56 1,322.63 10 IBEX 35 INDEX 11,184.40 7,579.80 1,332.70 13.96 20.05 15.02 1.39 1.39 679.47 759.30 11 FTSE M IB INDEX 21,828.77 15,017.42 (603.89) (2.82) 128.97 14.42 1.12 1.12 480.57 537.04 12 AEX-Index 537.84 409.23 83.89 18.99 26.94 16.55 1.60 1.62 628.96 702.86

13 SWISS M ARKET INDEX 9,136.95 7,475.54 189.45 2.15 18.25 17.97 2.59 2.59 1,095.97 1,123.61

14 S&P/ASX 200 INDEX 5,956.52 5,051.00 421.99 7.97 22.84 15.85 1.85 1.80 1,640.29 1,224.15

15 ALL ORDINARIES INDX 5,983.20 5,131.90 411.37 7.70 28.03 16.19 1.82 1.77 1,777.70 1,326.70

16 CSI 300 INDEX 3,583.72 3,033.97 (250.57) (6.72) 15.77 13.42 2.05 2.08 24,801.64 3,621.10

17 SHANGHAI SE A SHARE INDX 3,456.92 2,925.11 (447.23) (12.07) 18.80 13.69 1.99 2.01 29,647.50 4,328.61 18 SHENZHEN SE A SHARE INDX 2,243.11 1,838.41 (522.26) (21.62) 52.98 23.15 4.72 4.64 21,470.83 3,134.79

19 HANG SENG INDEX 25,744.72 19,662.70 3,787.23 17.28 10.69 12.61 1.17 1.21 16,338.39 2,096.39

20 HANG SENG CHINA ENT INDX 10,698.28 8,274.65 958.31 9.92 7.25 8.54 0.95 0.99 4,827.32 619.40

21 S&P BSE SENSEX INDEX 31,220.38 25,717.93 5,041.86 19.30 19.28 18.74 2.81 2.91 52,240.76 809.14

22 Nifty 50 9,637.75 7,893.80 1,678.20 21.12 20.73 18.20 2.67 2.75 67,921.54 1,052.02

23 JAKARTA COM POSITE INDEX 5,874.44 4,754.36 1,100.38 23.96 26.88 16.25 2.35 2.36 6,222,916.10 467.29

24 JAKARTA LQ-45 INDEX 989.03 807.88 157.48 19.88 17.14 18.02 2.85 2.90 4,128,357.12 310.01

25 KARACHI 100 INDEX 53,127.24 35,947.70 18,636.85 56.79 9.01 11.73 1.59 1.71 8,734.46 83.32

26 NIKKEI 225 19,998.49 14,864.01 644.14 3.38 20.15 17.26 1.70 1.71 347,221.22 3,134.05

27 NIKKEI 300 INDEX 316.86 239.50 1.84 0.59 16.69 13.84 1.36 1.37 400,884.26 3,618.42

28 TOPIX INDEX (TOKYO) 1,590.70 1,192.80 25.37 1.64 16.60 14.06 1.31 1.32 590,750.59 5,332.17

29 FTSE Bursa M alaysia KLCI 1,787.54 1,611.88 72.83 4.30 17.98 16.64 1.78 1.78 1,064.01 248.79

30 S&P NZX All Index 1,427.66 1,243.04 141.91 11.66 19.80 20.15 1.88 1.89 114.66 81.34

31 PSEi - PHILIPPINE SE IDX 8,118.44 6,499.00 908.69 13.07 20.04 19.06 2.47 2.52 9,464.50 190.10

32 Straits Times Index STI 3,275.39 2,703.48 322.06 11.17 13.26 14.61 1.14 1.12 510.50 368.70

33 KOSPI INDEX 2,371.67 1,892.75 382.37 19.50 14.72 10.20 0.94 1.00 1,461,337.60 1,301.42

34 TAIWAN TAIEX INDEX 10,121.88 8,374.26 1,763.89 21.15 13.82 14.22 1.44 1.47 29,836.09 989.16

35 STOCK EXCH OF THAI INDEX 1,600.79 1,343.13 280.55 21.78 21.94 15.28 1.71 1.70 15,488.16 453.92

36 THAI SET 50 INDEX 1,009.23 850.23 177.94 21.87 19.86 14.74 1.77 1.76 9,779.47 286.61

37 HO CHI M INH STOCK INDEX 748.06 597.68 159.18 27.49 12.53 14.61 1.72 1.78 1,792,141.31 78.90

A sia/ P acific A merica

52-WEEK C H A N GE YT D P ER (x) P B V (x) M A R KET C A P (B n)

Euro pe

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LQ45

H IG H L O W P O IN T % 2 0 1 5 2 0 1 6 E 2 0 1 5 2 0 1 6 E 1 A A L I IJ 1 4 ,4 5 0 1 7 ,9 5 0 1 3 ,1 2 6 (6 5 3 ) (4 .3 2 ) 4 0 .3 2 1 4 .2 4 2 .2 1 1 .6 0 2 7 ,8 1 1 .7 5 2 A D H I IJ 2 ,2 7 0 2 ,9 0 0 1 ,8 3 0 1 3 0 6 .0 7 1 4 .0 8 1 3 .3 5 1 .4 8 1 .3 3 8 ,0 8 3 .1 3 3 A D R O IJ 1 ,4 6 0 1 ,9 4 0 6 9 0 9 4 5 1 8 3 .5 0 7 .7 9 8 .4 3 0 .4 1 1 .0 1 4 6 ,6 9 9 .5 0 4 A K R A IJ 6 ,3 0 0 7 ,1 0 0 5 ,4 0 0 (8 7 5 ) (1 2 .2 0 ) 2 7 .3 1 2 0 .6 5 4 .6 5 3 .2 6 2 5 ,2 0 0 .9 0 5 A N TM IJ 7 3 5 1 ,0 0 5 5 9 5 4 2 1 1 3 4 .0 8 - 6 4 .1 0 0 .4 1 0 .9 8 1 7 ,6 6 2 .6 1 6 A S II IJ 8 ,6 7 5 9 ,3 5 0 6 ,5 0 0 2 ,6 7 5 4 4 .5 8 1 6 .7 8 1 7 .8 1 2 .3 8 2 .8 4 3 5 1 ,1 9 4 .8 2 7 A S R I IJ 3 2 4 5 8 5 3 1 4 (1 9 ) (5 .5 4 ) 1 2 .0 8 7 .6 6 1 .0 4 0 .8 1 6 ,3 6 6 .4 1 8 B B C A IJ 1 7 ,6 0 0 1 8 ,5 5 0 1 2 ,6 2 5 4 ,3 0 0 3 2 .3 3 1 8 .2 1 1 8 .9 9 3 .6 7 3 .3 7 4 3 3 ,9 2 8 .1 6 9 B B N I IJ 6 ,5 2 5 7 ,2 0 0 4 ,6 0 0 1 ,5 3 5 3 0 .7 6 1 0 .2 6 9 .2 7 1 .2 1 1 .2 7 1 2 1 ,6 8 2 .4 8 1 0 B B R I IJ 1 4 ,2 0 0 1 5 ,3 0 0 9 ,9 0 0 2 ,7 7 5 2 4 .2 9 1 1 .0 9 1 2 .4 5 2 .4 8 2 .1 4 3 5 0 ,3 0 2 .1 0 1 1 B B TN IJ 2 ,4 5 0 2 ,6 5 0 1 ,5 6 0 1 ,1 5 5 8 9 .1 9 7 .4 0 8 .8 1 0 .9 9 1 .2 1 2 5 ,9 4 5 .5 0 1 2 B M R I IJ 1 2 ,4 2 5 1 3 ,3 0 0 8 ,8 5 0 3 ,1 7 5 3 4 .3 2 1 0 .6 1 1 4 .7 2 1 .8 4 1 .7 9 2 8 9 ,9 1 6 .6 7 1 3 B U M I IJ 3 6 6 5 2 0 5 0 3 1 6 6 3 2 .0 0 - 1 .6 2 - 0 .1 5 1 3 ,4 0 5 .4 9 1 4 B S D E IJ 1 ,7 9 0 2 ,3 8 0 1 ,5 5 0 (1 0 ) (0 .5 6 ) 1 5 .9 2 1 4 .2 9 1 .8 4 1 .4 6 3 4 ,4 5 1 .5 9 1 5 C P IN IJ 3 ,0 8 0 4 ,0 2 0 2 ,8 5 0 4 8 0 1 8 .4 6 2 4 .5 5 1 7 .4 5 3 .3 4 3 .0 4 5 0 ,5 0 5 .8 4 1 6 EL S A IJ 3 0 8 6 2 0 3 0 0 6 1 2 4 .7 0 4 .8 1 #N /A N /A 0 .6 9 #N /A N /A 2 ,2 4 7 .9 4 1 7 G G R M IJ 7 3 ,5 0 0 7 8 ,4 7 5 5 9 ,2 2 5 1 8 ,5 0 0 3 3 .6 4 1 6 .4 4 1 8 .5 6 2 .7 9 3 .1 9 1 4 1 ,4 2 0 .4 7 1 8 H M S P IJ 3 ,8 3 0 4 ,2 5 0 3 ,5 6 0 7 0 1 .8 6 3 2 .3 0 3 2 .8 6 1 3 .6 6 1 2 .4 6 4 4 5 ,4 9 8 .2 3 1 9 IC B P IJ 8 ,6 7 5 1 0 ,2 7 5 7 ,5 5 0 1 ,9 3 7 2 8 .7 5 2 6 .1 9 2 5 .6 4 5 .0 8 5 .0 8 1 0 1 ,1 6 7 .0 5 2 0 IN C O IJ 1 ,8 6 5 3 ,6 3 0 1 ,6 3 0 2 3 0 1 4 .0 7 2 1 .2 1 3 5 .0 1 0 .6 4 0 .7 4 1 8 ,5 3 1 .2 7 2 1 IN D F IJ 8 ,7 7 5 9 ,2 0 0 6 ,8 7 5 3 ,6 0 0 6 9 .5 7 1 7 .6 6 1 7 .0 9 1 .6 7 2 .4 0 7 7 ,0 4 8 .2 4 2 2 IN TP IJ 1 8 ,7 7 5 1 9 ,4 0 0 1 4 ,2 7 5 (3 ,5 5 0 ) (1 5 .9 0 ) 1 8 .8 6 2 0 .9 9 3 .4 4 2 .4 7 6 9 ,1 1 5 .1 3 2 3 J S M R IJ 5 ,0 5 0 5 ,6 6 2 3 ,9 0 0 (1 6 3 ) (3 .1 3 ) 2 3 .5 9 1 9 .2 8 3 .4 1 2 .4 4 3 6 ,6 5 2 .2 5 2 4 K L B F IJ 1 ,5 2 5 1 ,8 1 5 1 ,3 7 0 2 0 5 1 5 .5 3 3 1 .0 7 2 8 .1 6 5 .9 1 5 .3 3 7 1 ,4 8 4 .5 6 2 5 L P K R IJ 7 1 5 1 ,2 1 5 6 9 0 (3 2 0 ) (3 0 .9 2 ) 4 4 .0 2 1 5 .6 4 1 .4 4 0 .8 1 1 6 ,5 0 0 .5 5 2 6 L P P F IJ 1 4 ,6 0 0 2 2 ,5 7 5 1 1 ,1 7 5 (3 ,0 0 0 ) (1 7 .0 5 ) 2 8 .8 5 1 9 .1 5 4 6 .4 3 1 4 .2 0 4 2 ,6 0 1 .6 0 2 7 L S IP IJ 1 ,4 8 5 1 ,9 0 5 1 ,3 3 0 1 6 5 1 2 .5 0 1 4 .5 1 1 2 .7 5 1 .2 3 1 .2 3 1 0 ,1 3 1 .9 5 2 8 M N C N IJ 1 ,9 0 0 2 ,3 6 0 1 ,4 7 0 4 5 2 .4 3 2 1 .9 0 1 5 .3 4 2 .8 9 2 .4 9 2 7 ,1 2 4 .6 0 2 9 EX C L IJ 3 ,0 0 0 3 ,9 5 0 2 ,0 3 0 (6 0 0 ) (1 6 .6 7 ) - 8 2 .7 5 2 .2 1 1 .4 7 3 2 ,0 6 3 .8 8 3 0 M YR X IJ 1 3 0 1 9 2 1 0 8 3 2 .3 6 1 1 1 .7 0 1 0 1 .1 7 8 .9 2 1 7 8 .0 8 1 0 ,2 3 3 .5 0 3 1 P G A S IJ 2 ,4 5 0 3 ,5 2 0 2 ,2 0 0 (2 9 5 ) (1 0 .7 5 ) 1 1 .9 6 1 1 .5 0 1 .5 9 1 .3 8 5 9 ,3 9 1 .7 0 3 2 P TB A IJ 1 0 ,6 5 0 1 4 ,2 0 0 6 ,3 7 5 6 ,1 2 5 1 3 5 .3 6 4 .8 2 7 .8 0 1 .0 4 1 .8 5 2 4 ,5 3 9 .0 0 3 3 P TP P IJ 3 ,0 8 0 4 ,6 1 0 2 ,6 9 0 (6 0 3 ) (1 6 .3 7 ) 2 5 .4 0 1 3 .8 0 4 .2 5 1 .7 9 1 9 ,0 9 5 .6 8 3 4 P W O N IJ 6 1 0 7 6 5 5 3 0 1 1 4 2 2 .9 8 1 8 .9 3 1 4 .8 6 3 .3 1 2 .7 4 2 9 ,3 7 7 .3 6 3 5 S C M A IJ 2 ,8 1 0 3 ,5 5 0 2 ,1 3 0 (2 9 0 ) (9 .3 5 ) 2 9 .6 5 2 2 .8 0 1 4 .4 1 1 0 .0 4 4 1 ,0 8 6 .7 0 3 6 P P R O IJ 2 2 6 3 7 2 9 3 1 8 2 4 1 3 .6 4 7 .0 9 2 9 .1 6 0 .9 9 - 1 3 ,9 3 9 .4 7 3 7 S M G R IJ 9 ,2 0 0 1 1 ,8 7 5 8 ,0 5 0 (2 ,2 0 0 ) (1 9 .3 0 ) 1 4 .9 5 1 4 .9 9 2 .5 6 1 .7 9 5 4 ,5 6 9 .9 8 3 8 S M R A IJ 1 ,3 0 5 1 ,9 7 0 1 ,2 1 0 (3 4 5 ) (2 0 .9 1 ) 2 7 .9 0 4 5 .0 2 3 .9 6 2 .7 4 1 8 ,8 2 6 .9 5 3 9 S R IL IJ 3 2 4 4 9 6 2 0 4 (6 5 ) (1 6 .7 1 ) 9 .4 6 - 1 .8 9 - 6 ,0 2 4 .1 0 4 0 S S M S IJ 1 ,7 0 0 1 ,9 2 0 1 ,3 0 0 (2 5 0 ) (1 2 .8 2 ) 3 7 .3 6 2 2 .0 8 6 .1 6 4 .1 4 1 6 ,1 9 2 .5 0 4 1 TL K M IJ 4 ,3 3 0 4 ,6 7 0 3 ,6 2 4 1 ,2 5 3 4 0 .7 2 1 9 .5 0 1 8 .7 0 4 .0 2 4 .5 1 4 3 6 ,4 6 3 .9 8 4 2 U N TR IJ 2 7 ,0 7 5 2 9 ,4 5 0 1 3 ,3 7 5 1 0 ,1 2 5 5 9 .7 3 1 6 .4 0 1 5 .1 6 1 .6 7 2 .2 4 1 0 0 ,9 9 3 .4 1 4 3 U N V R IJ 4 6 ,0 0 0 5 0 ,0 2 5 3 7 ,8 2 5 9 ,0 0 0 2 4 .3 2 4 8 .2 6 4 8 .2 9 5 8 .4 8 6 3 .5 3 3 5 0 ,9 8 0 .0 0 4 4 W IK A IJ 2 ,2 6 0 3 ,1 3 9 2 ,1 8 0 (1 8 5 ) (7 .5 7 ) 2 5 .7 4 1 5 .9 8 3 .7 1 1 .5 5 2 0 ,2 7 2 .0 9 4 5 _{W S K T IJ} 2 ,3 3 0 2 ,8 6 0 2 ,1 2 0 6 6 0 3 9 .5 2 2 0 .6 6 1 2 .9 9 2 .3 7 1 .9 8 3 1 ,6 2 6 .7 4 M A R K ET C A P (B n ) L Q 4 5 In d e x 3 0 -M ay-1 7 5 2 -W EEK C H A N G E Y TD P ER (x ) P B V (x )

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Macro data

D escriptio n 1-D ay (%) 5-D ays (%) 1-M o nth (%) YT D (%) Property (0.44) (1.21) (2.98) (5.28) Basic Industry (0.68) (2.15) 0.56 13.88 Trade 0.78 0.29 (1.46) 5.69 Finance (0.21) (1.04) 3.03 13.19 M iscellaneous Industry (0.21) (0.90) (2.47) 7.17 Consumer (0.67) (0.95) 2.40 7.23 Infrastructure (0.98) (1.84) (0.89) 7.35 Agriculture 0.58 (0.30) (1.91) (3.22) M ining (0.14) 0.57 (10.38) (1.03) M ay-17 A pr-17 1.28 7.84 4.17 3.61 0.09 -0.02 123.25 121.81 -0.34 5.01 4.94 F OR EX Spo t R ate 1-D ay (%) 1-M o nth (%) YT D (%) USD/IDR 13,321.00 0.02 0.06 1.14 USD/CNY 6.86 0.19 0.54 1.31 USD/EUR 0.89 0.10 (2.46) (5.86) USD/JPY 110.94 (0.08) 0.81 5.43 USD/SGD 1.39 (0.14) 0.76 4.36 USD/AUD 1.34 0.04 0.84 (3.51) USD/GBP 0.78 0.28 0.50 (3.73) (in %) 7.14 0.64 1.46 6.73 6.96 7.40 Inflation M oM (in %)

Foreign Reserves (in USD bn) GDP Growth QoQ (in %) GDP Growth YoY (in %)

Secto rs

Eco no mic Indicato rs

Inflation YTD (in %) Eco no mic P arameters Inflation YoY (in %)

Indonesia 5-Year Government Bonds Yield Indonesia 10-Year Government Bonds Yield Indonesia 15-Year Government Bonds Yield Lending and D epo sit R ates JIBOR (in IDR)

LIBOR (in GBP) SIBOR ( in USD)

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Upcoming IPO

Dividend

Rights Issue

2016 2017 APBNP RAPBN GDP Growth (%, YoY) _5,2% _5,3%

Exchange rate (USD/IDR) ₁₃₅₀₀ ₁₃₃₀₀

Inflation (%, YoY) _4% _4%

3 Months SPN (%) _5,5% _5,3%

Indonesian Crude Oil (USD/barrel) ₄₀ ₄₅

Oil Lifting ( thousands barrel/day) ₈₂₀ ₇₈₀

Gas Lifting (thousands, BOE/day) _1.11 _1.15

Total State Budget (in IDR trillion) ₁₇₈₆ ₁₇₃₇

INDICATOR

Stock DPS (Rp) Status Cum Date Ex Date Recording Payment

XCID 1.4833 Cash 02/03/2017 _03/03/2017 _07/03/2017 21/03/2017

BJTM 43.64 Cash 07/02/2017 08/02/2017 10/02/2017 02/03/2017

Ticker Price (Rp) Cum Date EX Date Trading

BKSL 3 : 5 112 30/03/2017 31/03/2017 06/04/2017 - 12/04/2017 PPRO 30/03/2017 31/03/2017 06/04/2017 - 12/04/2017 LEAD 07/03/2017 08/03/2017 15/03/2017 - 21/03/2017 POOL 1 : 4 250 06/03/2017 07/03/2017 13/03/2017 - 17/03/2017 RIMO 597 : 5 101 06/03/2017 07/03/2017 13/03/2017 - 17/03/2017 BPFI 100 : 613 284 02/03/2017 03/03/2017 09/03/2017 - 15/03/2017 LEAD 27/02/2017 28/02/2017 08/03/2017 - 14/03/2017 PSKT 3 : 5 100 09/02/2017 10/02/2017 16/02/2017 - 22/02/2017 BULL 1 : 1 100 06/01/2016 07/02/2017 13/02/2017 - 21/02/2017 Ratio

State Budget

Company Business IPO Price

(Rp)

Issued Shares (Mn)

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Picks of The Day

ITMG : Buy on Weakness

ITMG memiliki indikator Stoc osc Macd dan Rsi yang mengindikasikan pola Uptrend. ITMG berhasil menembus Resistance pada level harga 16300 dan terbuka peluang untuk mencoba level Support pada level 15650 dalam jangka pendek. Trading Range : 15400 — 16500 .

Fundamental :

INTP : Trading Buy

INTP memiliki indikator Stoc osc , MACD dan Rsi yang mengindikasikan pola Uptrend. INTP berhasil menembus Resistance pada level 19000 dan ter-buka peluang untuk mencoba level Resistance pada level 19000 dalam jangka pendek, Trading range : 18600 — 19200.

Fundamental :

Wednesday, May 31, 2017

C reat ed wit h Am iBrok er - adv anc ed c hart ing and t ec hnic al analy s is s of t ware. ht t p: / / www. am ibrok er. c om

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr May

6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 22,000 ITMG - Daily 5/30/2017 4:00:00 PM Open 15800, Hi 16075, Lo 15625, Clos e 15875 (0.5%)MA(Clos e,50)= 18,223.00

15,875

18,223

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 Feb Mar Apr May -1,000 -500 0 500 1,000 ITMG -MACD(12,26)= -839.75,Signal(12,26,9)= -881.93

-839.753

-881.927

20 80 ITMG -Stoch %K(15,3)= 31.47,Stoch %D(15,3,3)= 27.00

31.4687 27.0025 30 70 ITMG -RSI(15)= 40.32 40.3155

14,500 15,000 15,500 16,000 16,500 17,000 17,500 18,000 18,500 19,000 19,500 20,000 20,500 21,000 INTP - Daily 5/30/2017 4:07:10 PM Open 18600, Hi 19000, Lo 18600, Clos e 18775 (0.9%)MA(Clos e,50)= 16,864.00

18,775

16,864

-1,000 -500 0 500

INTP -MACD(12,26)= 581.87,Signal(12,26,9)= 481.66 581.866

481.661

20 80

INTP -Stoch %K(15,3)= 91.67,Stoch %D(15,3,3)= 94.60 91.668

30 70

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Picks of The Day

RALS : Buy on Weakness

RALS memiliki indikator Stoc osc ,Macd dan Rsi mengindikasikan pola Uptrend, RALS belum berhasil menembus Resistance di level harga 1335 sehingga terbuka peluang untuk menguji Support dalam jangka pendek pada level harga 1310 Trading Range : 1280 — 1365

Fundamental :

SCMA : Buy on Weakness

SCMA memiliki indikator Stoc osc, Macd, dan Rsi mengindikasikan pola Uptrend, SCMA belum berhasil menembus Resistance di level harga 2840 se-hingga terbuka peluang untuk menguji Support dalam jangka pendek pada level harga 2790 Trading range : 2760 — 2860.

Fundamental :

600 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500 RALS - Daily 5/30/2017 4:14:08 PM Open 1270, Hi 1305, Lo 1255, Clos e 1280 (0.8%)MA(Clos e,50)= 1,221.20

1,280

1,221.2

0 50 RALS -MACD(12,26)= 12.55,Signal(12,26,9)= 25.97

12.5509

25.9683

20 80 RALS -Stoch %K(15,3)= 26.98,Stoch %D(15,3,3)= 24.38

26.9841 24.3793 30 70 RALS -RSI(15)= 50.57 50.5747

2,100 2,200 2,300 2,400 2,500 2,600 2,700 2,800 2,900 3,000 3,100 3,200 3,300 3,400 3,500 SCMA - Daily 5/30/2017 4:14:12 PM Open 2700, Hi 2810, Lo 2700, Clos e 2810 (3.3%)MA(Clos e,50)= 2,806.20

2,810

2,806.2

-100 -50 0 50 100 SCMA -MACD(12,26)= -7.01,Signal(12,26,9)= 4.85

-7.00544

4.85174

20 80 SCMA -Stoch %K(15,3)= 19.63,Stoch %D(15,3,3)= 19.34

19.625 19.3409 30 70 SCMA -RSI(15)= 47.53 47.5329

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These recommendations are based on technical indicators and are suitable for daily trading purposes.

TICKER REC PRICE ENTRY EXIT S2 S1 R1 R2 EXPLANATION

AALI BoW 14,450 14,350 14,550 14,200 14,350 14,550 14,725 Gravestone doji

LSIP Sell 1,485 1,485 1,470 1,460 1,470 1,510 1,530 Inverted hammer

BWPT BoW 268 262 276 256 262 276 284 White spinning top

BMRI BoW 12,425 12,300 12,550 12,150 12,300 12,550 12,750 Rsi : uptrend

BBRI BoW 14,200 14,050 14,325 13,900 14,050 14,325 14,450 Rsi : neutral

BBCA BoW 17,600 17,500 17,750 17,350 17,500 17,750 17,900 Macd : downtrend

BBNI BoW 6,525 6,475 6,575 6,425 6,475 6,575 6,675 Macd : downtrend

BBTN BoW 2,450 2,435 2,470 2,420 2,435 2,470 2,500 Stoc osc : downtrend

BJTM BoW 675 665 685 655 665 685 700 Stoc osc : downtrend

BJBR BoW 2,300 2,250 2,360 2,200 2,250 2,360 2,420 Stoc osc : uptrend

INDF BoW 8,775 8,700 8,825 8,650 8,700 8,825 8,900 Rsi : downtrend

ICBP Sell 8,675 8,675 8,625 8,550 8,625 8,750 8,850 Black spinning top

GGRM BoW 73,500 73,000 74,000 72,400 73,000 74,000 74,550 Rsi : reversal

UNVR Sell 46,000 46,000 45,550 45,100 45,550 46,500 46,950 Macd : downtrend

CPIN BoW 3,080 3,050 3,120 3,030 3,050 3,120 3,160 Stoc osc : uptrend

ASII BoW 8,675 8,625 8,725 8,575 8,625 8,725 8,825 Macd : neutral

SMGR Sell 9,200 9,200 9,100 8,950 9,100 9,325 9,450 Long black candle

INTP Buy 18,775 18,775 19,000 18,400 18,600 19,000 19,200 Rsi : uptrend

SMCB BoW 825 815 835 805 815 835 850 Gravestone doji

TLKM Sell 4,330 4,330 4,300 4,260 4,300 4,360 4,400 Macd : downtrend

PGAS Sell 2,450 2,450 2,420 2,380 2,420 2,470 2,510 Stoc osc : downtrend

JSMR BoW 5,050 5,000 5,100 4,950 5,000 5,100 5,200 Black spinning top

TBIG Buy 5,800 5,800 5,850 5,650 5,725 5,850 5,975 Macd : reversal

MAPI BoW 5,900 5,700 6,050 5,500 5,700 6,050 6,200 Rsi : uptrend

RALS BoW 1,280 1,255 1,305 1,230 1,255 1,305 1,330 White spinning top

ACES BoW 980 960 995 940 960 995 1,020 Rsi : neutral

MPPA Sell 785 785 770 760 770 810 830 Rsi : downtrend

PTBA BoW 10,650 10,550 10,750 10,450 10,550 10,750 10,850 Gravestone doji

ADRO BoW 1,460 1,450 1,475 1,430 1,450 1,475 1,490 Black spinning top

ITMG BoW 15,875 15,650 16,100 15,400 15,650 16,100 16,300 White spinning top

ANTM BoW 735 725 750 710 725 750 775 Macd: uptrend

TINS BoW 865 850 880 840 850 880 900 Rsi : downtrend

UNTR Buy 27,075 27,075 27,400 26,500 26,800 27,400 27,700 Macd : uptrend

ASRI BoW 324 320 328 316 320 328 332 Rsi : downtrend

LPKR BoW 715 705 725 680 705 725 735 Rsi : reversal

CTRA BoW 1,090 1,070 1,105 1,055 1,070 1,105 1,130 Long legged doji

APLN BoW 193 189 195 183 189 195 198 Doji

SMRA Sell 1,305 1,305 1,290 1,275 1,290 1,320 1,340 Black spinning top

SSIA Sell 640 640 620 605 620 655 670 Macd : downtrend

BSDE BoW 1,790 1,780 1,815 1,765 1,780 1,815 1,835 Long legged doji

PTPP BoW 3,080 3,060 3,110 3,030 3,060 3,110 3,130 Rsi : downtrend

WSKT Sell 2,330 2,330 2,310 2,290 2,310 2,370 2,410 Rsi : downtrend

WIKA Sell 2,260 2,260 2,240 2,220 2,240 2,280 2,310 Black spinning top

ADHI Sell 2,270 2,270 2,240 2,210 2,240 2,310 2,350 Black spinning top

MINING

PROPERTY & CONSTRUCTION AGRICULTURE

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Equity Research Team

HEAD OF RESEARCH Evan Lie Hadiwidjaja

Banking, Telecommunication, Automotive Tel: +62 21 3925550 Ext: 610

evan.hadiwidjaja@sinarmassekuritas.co.id

SENIOR EQUITY ANALYST James Wahjudi

Property, Coal & Mining Tel: +62 21 3925550 Ext: 611

james.wahjudi@sinarmassekuritas.co.id EQUITY ANALYST

Wilbert

Consumer Goods, Tobacco, Plantation Tel: +62 21 3925550 Ext: 611 wilbert@sinarmassekuritas.co.id EQUITY ANALYST Henny Indrawati Construction, Cement Tel: +62 21 3925550 Ext: 610 henny.indrawati@sinarmassekuritas.co.id EQUITY ANALYST Adrian Lorenzo

Retail, Media, Healthcare Tel: +62 21 3925550 Ext: 610 adrian.lorenzo@sinarmassekuritas.co.id TECHNICAL ANALYST Eddy Wijaya Tel: +62 21 3925550 Ext: 159 eddy.wijaya@sinarmassekuritas.co.id Sinarmas Land Plaza Tower III, 6th Floor.

Jl. M. H. Thamrin No. 51 Jakarta 10350, Indonesia Tel: +62 21 392 5550 Fax: +62 21 392 5540 research@sinarmassekuritas.co.id www.sinarmassekuritas.co.id PT Sinarmas Sekuritas DISCLAIMER

This material is issued by PT Sinarmas Sekuritas, a member of Indonesia Stock Exchanges, represent the opinion of PT Sinarmas Sekuritas, derived its judg-ment from sources deemed reliable, however, PT Sinarmas Sekuritas and its affiliated cannot guarantee its accuracy and completeness. PT Sinarmas Sekuri-tas or its affiliates may be involved in transactions contrary to any opinion herein or have positions in the securities recommended herein and may seek or will seek investment banking or other business relationships with the companies in this material. PT Sinarmas Sekuritas, its employees and its affiliates, expressly disclaim any and all liability for representation or warranties, expressed or implied, here in or omission there from or for any loss how so ever arising from any use of this material or its contents or otherwise arising in connection there with. Opinion expressed in this material are our present view and are subject to change without notice. For further information please contact our number +62 21 392 5550 or fax +62 21 392 2320.