See important disclaimer at the end of this report

(1)

ID X St at ist ics C lo sing

JCI 5,929.22

Transaction Value Regular M arket (IDR tn) 5.195 Transaction Volume Regular M arket (mn shares) 5,977

Foreign Net Buy (Sell) (IDR bn) (114)

Foreign Net Buy (Sell) (3.75)

Total M arket Capitalization (IDR tn) 6,707.83

LQ45 938.22 1.37 (13.08)

Crude Oil (USD/barrel) 72.17 8:00:16 AM 19.45 Coal (USD/mn tons) 113.70 9/27/2018 12.80 Natural Gas (USD/mmBtu) 3.06 7:57:45 AM 3.59 Gold (USD/ounce) 1,183.76 8:10:19 AM (9.13)

Nickel (USD/mn tons) 12,610.00 8:10:16 AM (1.18)

Tins (USD/mn tons) 18,965.00 8:10:00 AM (5.29)

CPO (M YR/mn tons) 2,117.00 9/27/2018 (13.38)

Rubber (JPY/kg) 139.70 7:36:51 AM (31.99)

• I HSG diperkirakan bergerak m ix ed dengan kecenderungan

m enguat . Bursa AS dit ut up m enguat pada perdagangan lebih t inggi dibandingkan dengan pert um buhan kredit pada Juli 2018 yang t um buh 11,34%

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D a ily Cor por a t e a n d I n du st r y N e w s

Bank I ndonesia ( BI ) kem bali m enaikkan BI 7 - Day Reverse Repo Rat e ( BI 7DRRR) sebesar 25 bps ke level 5,75% di Sept em ber 2018. Kenaikan ini sej alan dengan kenaikan bunga acuan Bank Sent ral Am erika Serikat ( The Fed) m en-j adi 2% hingga 2,25% . Source: Kont an

Harga BBM solar bersubsidi dan BBM k husus penugasan prem ium yang t idak dinaikkan hingga 2019 m erupakan keput usan bisnis ( business decision) Pert am ina, m eski harga m inyak m enguat . BUMN ini m em ang rugi dalam m en-j ual prem ium unt uk m asy arakat berpenghasilan rendah, nam un nilainya kecil sehingga bisa dit ut up dengan subsidi silang dari penj ualan yang lain. Source: I nvest or Daily

PT I ndonesia Asahan Alum unium / I nalum ( Persero) resm i m enguasai 51% saham Freeport I ndonesia, m enyusul di-t andadi-t anganinya perj anj ian j ual beli ( sales and repurchase agreem endi-t / SPA) saham Freepordi-t I ndonesia oleh m ana-j em en I nalum dan Freeport Mcm oran, I nalum segera m elunasi pem belian 51% saham Freeport I ndonesia senilai US$ 3,85 m iliar pada Novem ber m endat ang. Source: I nv est or Daily

Ment eri Perhubungan Budi Karya Sum adi m engat akan bahwa t iga proyek keret a ringan ( light rail t ransit / LRT) yang dit awarkan unt uk dikerj asam akan dengan perusahaan asing yak ni LRT Medan, LRT Surabaya, dan LRT Bandung den-gan nilai invest asi per proyek sekit ar I DR 5 - 10 t riliun. Pada proyek bandara, ada dua proyek perluasan bandara yang dit awarkan dengan perkiraan nilai invest asi t iap - t iap proyek Rp3 t riliun—Rp5 t riliun yait u bandar a Kualanam u di Sum at era Ut ara dan Zainudin Abdul Madj id ( Pray a) di Lom bok. Source: Bisnis I ndonesia

Pem erint ah akan m enam bah insent if perpaj akan bagi pengusaha dalam program m ini t ax holiday yang m erupakan insent if pem bebasan paj ak penghasilan ( PPh) badan sepert i t ax holiday, t api unt uk penanam an m odal senilai Rp 100 m iliar - Rp 500 m iliar. Source: Kont an

Asosiasi Sem en I ndonesia ( ASI ) m encat at , volum e ekspor sem en pada Januari - Agust us t ahun ini m eningkat t aj am hingga dua kali lipat m enj adi 3,7 j ut a t on. Di periode yang sam a t ahun lalu, penj ualan ekspor sem en nasional hanya sebesar 1,8 j ut a t on. Source: Kont an

Kondisi fiskal I ndonesia yang kuat t elah m em beri sent im en posit if t erhadap penerbit an Surat Berharga Negara ( SBN) , di ant aranya t ergam bar dari im bal hasil ( yield) yang m asih cukup m asuk akal ( reasonable) . Penerim aan ne-gara yang sam pai akhir Agust us lalu t um buh 18,5% yoy sert a penerim aan paj ak t um buh 16,5% yoy adalah di ant ara indikat or kondisi fiskal yang kuat . Source: I nv est or Daily

Bank I ndonesia ( BI ) akan m eluncurkan at uran m engenai t ransaksi non - deliverable forward di pasar dom est ik at au dom est ic non- deliverable forward ( DNDF) yang diharapkan m em perdalam pasar valut a asing ( valas) sehingga dapat m engurangi t ekanan t erhadap nilai t ukar rupiah. Source: I nvest or Daily

Ot orit as Jasa Keuangan ( OJK) m encat at hingga Agust us 2018, pert um buhan kredit indust ri perbankan sebesar 12,12% yoy. Pert um buhan t ersebut lebih t inggi dibandingkan dengan pert um buhan kredit pada Juli 2018 yang t um -buh 11,34% . Source: I nvest or Daily

Waskit a Karya ( WSKT) m enerim a pem bayaran t ahap keem pat proyek LRT palem bang senilai I DR 3,9 t n. Sebelum -nya t ot al pem bayaran 3 t ahap t elah dit erim a sebesar I DR 1,9 t n pada 2017. Source: Bisnis I ndonesia

Sum m arecon Agung ( SMRA) m encat at kan pendapat an 1H18 sebesar I DR 2.6 t n ( - 1.26% YoY) dan laba t ahun ber-j alan sebesar I DR 78.4 bn ( + 29.6% YoY) . Source: Bisnis I ndonesia

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D a ily Cor por a t e a n d I n du st r y N e w s

Golden Eagle Energy ( SMMT) m encat at kan volum e produksi 900.000 t on bat ubara selam a Januari hingga Agust us 2018. Pencapaian t ersebut separuh dari t arget sepanj ang t ahun ini yang sebesar 1,8 j ut a t on bat ubara. Source: Kont an

Provident Agro ( PALM) m elalui ent it as anak PT Suwarna Art a Mandiri ( SAM) m em beli saham Merdeka Copper Gold ( MDKA) sej um lah 293.294.900 unit saham . Nilai t ransaksi pem belian t ersebut sebesar Rp 698,67 m iliar, dengan kis-aran harga Rp 2250- 2400 per saham . Source: I nvest or Daily

Hanson I nt ernat ional ( MYRX) m eraih perset uj uan pem egang saham t erkait rencana penam bahan m odal dengan hak m em esan efek t erlebih dahulu ( HMETD) at au right s issue. Perseroan berharap m eraup dana sebesar Rp 12 - 16 t ril-iun. Sour ce: I nvest or Daily

Zurich I nsurance Group, grup asuransi asal Swiss, akan fok us m engem bangkan segm en rit el di I ndonesia, set elah m engakuisisi 80% kepem ilikan saham PT Asuransi Adira Dinam ika ( Asuransi Adira) dari Danam on Group dan inves-t or m inoriinves-t as. Dari penj ualan inves-t ersebuinves-t , Bank Danam on akan m eraih dana sekiinves-t ar Rp 3,9 inves-t riliun. Source: Bisnis I ndo-nesia

PT Sat ria Ant aran Prim a ( SAP) dan PT Super Energy t elah m eram pungkan penawaran awal ( bookbuilding) t erkait penawaran um um perdana ( I nit ial Public Offering/ I PO) saham . SAP m enet apkan

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W or ld Equ it y I n dice s

Source: Bloomberg, Sinarmas Investment Research

W O R L D E Q U I T Y I N D I C E S

N O T I C K E R

1 IN D U Index 26,769.16 22,288.97 1,720.71 6.96 20.69 16.92 3.88 3.97 7,374.59 7,374.59 2 SP X Index 2,940.91 2,502.93 240.39 8.99 22.51 18.07 3.30 3.31 25,541.71 25,541.71 3 C C M P Index 8,133.30 6,427.66 1,138.58 16.49 40.71 24.07 3.80 3.74 12,578.04 12,578.04 4 SP T SX Index 16,586.46 14,785.78 (4.51) (0.03) 19.81 15.71 1.91 1.90 2,492.42 1,913.72 5 M EXB O L Index 51,121.23 44,429.36 292.49 0.59 19.72 16.85 2.65 2.67 5,955.70 316.73

6 SX5E Index 3,708.82 3,261.86 (54.17) (1.55) 18.41 14.29 1.67 1.79 2,962.91 3,458.61 7 UKX Index 7,903.50 6,866.94 (142.33) (1.85) 23.26 13.57 1.97 2.01 2,103.56 2,755.87 8 C A C Index 5,657.44 5,038.12 227.85 4.29 18.43 14.82 1.67 1.71 1,636.86 1,910.71 9 D A X Index 13,596.89 11,726.62 (482.05) (3.73) 19.19 13.56 1.86 1.93 1,150.74 1,343.25 10 IB EX Index 10,643.40 9,111.10 (516.40) (5.14) 15.07 12.48 1.47 1.49 594.88 694.40 11 F T SEM IB Index 24,544.26 20,236.27 (342.27) (1.57) 559.35 11.79 1.18 1.24 509.69 594.96 12 A EX Index 576.90 515.96 9.17 1.68 18.84 14.93 1.91 1.88 678.75 792.31 13 SM I Index 9,616.38 8,372.90 (269.65) (2.87) 24.52 15.93 2.59 2.60 1,103.03 1,128.19

14 A S51 Index 6,373.50 5,650.90 116.09 1.91 17.95 15.89 2.08 2.05 1,850.15 1,336.00 15 A S30 Index 6,481.30 5,715.40 132.04 2.14 18.90 15.96 2.00 1.96 2,007.10 1,449.33 16 SH SZ 300 Index 4,403.34 3,191.40 (627.27) (15.56) 16.47 11.65 2.05 2.08 27,078.15 3,929.89 17 SH A SH R Index 3,757.20 2,769.10 (539.75) (15.58) 16.86 11.36 1.80 1.84 29,697.18 4,310.00 18 SZ A SH R Index 2,140.56 1,438.39 (491.79) (24.76) 29.07 16.45 3.12 3.10 18,284.98 2,653.73 19 H SI Index 33,484.08 26,219.56 (2,203.48) (7.36) 13.71 11.34 1.39 1.41 17,998.93 2,303.51 20 H SC EI Index 13,962.53 10,196.71 (770.33) (6.58) 9.18 8.21 1.05 1.10 11,483.91 1,469.71 21 SEN SEX Index 38,989.65 31,081.83 2,267.34 6.66 24.56 19.47 3.12 2.96 66,022.16 909.58 22 N IF T Y Index 11,760.20 9,687.55 446.85 4.24 23.85 18.98 3.12 2.94 80,771.30 1,112.78 23 J C I Index 6,693.47 5,557.56 (426.44) (6.71) 24.38 15.51 2.58 2.54 6,707,832.32 450.31 24 LQ 45 Index 1,132.92 871.91 (141.17) (13.08) 21.16 16.14 3.39 3.35 4,274,291.97 286.94 25 KSE100 Index 47,144.12 37,736.73 380.32 0.94 8.99 8.51 1.46 1.42 7,191.90 57.92 26 N KY Index 24,129.34 20,285.06 1,031.80 4.53 19.37 16.68 1.89 1.97 403,437.73 3,556.40 27 N EY Index 376.09 323.31 0.97 0.27 16.06 12.67 1.38 1.33 455,241.12 4,013.06 28 T P X Index 1,911.31 1,645.16 (17.45) (0.96) 16.34 13.92 1.41 1.46 676,759.23 5,965.79 29 F B M KLC I Index 1,896.03 1,657.78 1.83 0.10 16.69 17.38 1.67 1.65 1,120.79 270.94 30 N Z SE Index 1,652.90 1,424.15 114.52 7.58 19.27 21.67 2.03 2.02 133.62 88.52 31 P C O M P Index 9,078.37 6,923.67 (1,237.83) (14.46) 22.98 16.98 2.51 2.37 9,215.41 170.49 32 F SST I Index 3,641.65 3,102.73 (166.66) (4.90) 11.07 13.14 1.22 1.24 559.82 409.61 33 KO SP I Index 2,607.10 2,218.09 (112.06) (4.54) 12.69 9.41 1.05 1.07 1,523,409.41 1,367.33 34 T WSE Index 11,270.18 10,189.04 391.33 3.68 15.55 14.21 1.75 1.76 32,695.83 1,071.50 35 SET Index 1,852.51 1,584.68 (0.76) (0.04) 18.90 16.30 2.08 2.12 17,678.20 545.59 36 SET 50 Index 1,223.67 1,043.32 23.40 2.06 17.52 16.06 2.26 2.30 12,176.86 375.81 37 VN IN D EX Index 1,211.34 795.05 31.13 3.16 19.00 17.35 2.81 2.90 3,248,510.46 139.18

2 0 17 2 0 18 E D o m a i n

C u r r e n c y U S D

L O W P O I N T % 2 0 17 2 0 18 E

A s i a / P a c i f i c A m e r i c a

5 2 - W E E K C H A N G E Y T D P E R ( x) P B V ( x) M A R K E T C A P ( B n )

E u r o p e

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LQ4 5

L Q 4 5 I n d e x

H I G H L O W P O I N T % 2 0 1 7 2 0 1 8 E 2 0 1 7 2 0 1 8 E

1 A D H I I J 1 , 3 9 0 2 , 5 1 0 1 , 3 2 0 (4 9 5 ) (2 6 . 2 6 ) 1 3 . 0 2 6 . 1 5 1 . 1 5 0 . 7 6 4 , 9 4 9 . 5 8

2 A D R O I J 1 , 8 2 5 2 , 6 5 0 1 , 5 7 5 (3 5 ) (1 . 8 8 ) 9 . 0 6 8 . 1 7 1 . 2 6 1 . 0 5 5 8 , 3 7 4 . 3 8

3 A K R A I J 3 , 6 4 0 8 , 0 2 5 3 , 2 2 0 (2 , 7 1 0 ) (4 2 . 6 8 ) 2 8 . 1 1 1 3 . 5 6 3 . 3 7 1 . 7 1 1 4 , 6 1 3 . 4 9

4 A N T M I J 8 3 5 1 , 0 1 5 6 0 0 2 1 0 3 3 . 6 0 - 2 7 . 0 4 0 . 8 1 1 . 0 8 2 0 , 0 6 5 . 6 9

5 A S I I I J 7 , 3 7 5 8 , 7 5 0 6 , 1 0 0 (9 2 5 ) (1 1 . 1 4 ) 1 7 . 8 3 1 4 . 1 6 2 . 7 2 2 . 1 8 2 9 8 , 5 6 6 . 2 0

6 B B C A I J 2 4 , 0 0 0 2 5 , 4 7 5 1 9 , 6 5 0 2 , 1 0 0 9 . 5 9 2 3 . 1 7 2 2 . 9 1 4 . 1 1 3 . 9 3 5 9 1 , 7 2 0 . 2 2

7 B B N I I J 7 , 3 5 0 1 0 , 1 7 5 6 , 7 5 0 (2 , 5 5 0 ) (2 5 . 7 6 ) 1 3 . 5 6 8 . 9 2 1 . 8 7 1 . 2 7 1 3 7 , 0 6 7 . 6 2

8 B B R I I J 3 , 0 7 0 3 , 9 2 0 2 , 7 2 0 (5 7 0 ) (1 5 . 6 6 ) 1 5 . 3 4 1 1 . 6 5 2 . 6 7 2 . 0 3 3 7 8 , 6 7 1 . 6 4

9 B B T N I J 2 , 6 5 0 3 , 8 9 0 2 , 1 1 0 (9 2 0 ) (2 5 . 7 7 ) 1 2 . 4 9 8 . 2 4 1 . 7 5 1 . 1 3 2 8 , 0 6 3 . 5 0

1 0 B J B R I J 2 , 0 5 0 2 , 7 5 0 1 , 7 9 5 (3 5 0 ) (1 4 . 5 8 ) 1 9 . 2 0 1 3 . 1 3 2 . 3 1 1 . 9 0 1 9 , 8 7 7 . 4 0

1 1 B M R I I J 6 , 6 2 5 9 , 0 5 0 6 , 2 0 0 (1 , 3 7 5 ) (1 7 . 1 9 ) 1 8 . 0 9 1 2 . 1 7 2 . 2 4 1 . 7 1 3 0 9 , 1 6 6 . 6 7

1 2 B M T R I J 4 1 0 7 5 5 3 7 8 (1 8 0 ) (3 0 . 5 1 ) - - 0 . 8 8 - 5 , 8 2 1 . 4 3

1 3 B R P T I J 1 , 8 4 0 2 , 7 2 0 1 , 5 1 0 (4 2 0 ) (1 8 . 5 8 ) 3 0 . 0 0 1 7 . 6 5 2 . 1 6 1 . 2 2 3 2 , 7 3 6 . 5 2

1 4 B S D E I J 1 , 1 5 5 1 , 9 6 5 1 , 0 8 0 (5 4 5 ) (3 2 . 0 6 ) 6 . 6 1 8 . 3 9 1 . 2 9 0 . 7 9 2 2 , 2 2 9 . 9 3

1 5 B U M I I J 2 1 4 3 5 6 1 6 6 (5 6 ) (2 0 . 7 4 ) 2 . 5 7 2 . 3 9 - - 1 4 , 0 1 1 . 7 3

1 6 E X C L I J 2 , 8 2 0 1 , 7 1 0 (1 4 0 ) (4 . 7 3 ) 8 5 . 1 6 7 3 . 2 1 1 . 4 6 1 . 3 7 3 0 , 1 4 0 . 0 5

1 7 G G R M I J 7 5 , 0 0 0 8 6 , 4 0 0 6 1 , 9 2 5 (8 , 8 0 0 ) (1 0 . 5 0 ) 2 0 . 8 0 1 7 . 1 0 3 . 8 2 3 . 1 3 1 4 4 , 3 0 6 . 6 0

1 8 H M S P I J 3 , 8 4 0 5 , 5 5 0 3 , 2 3 0 (8 9 0 ) (1 8 . 8 2 ) 4 3 . 5 4 3 3 . 9 3 1 6 . 1 3 1 2 . 6 9 4 4 6 , 6 6 1 . 4 2

1 9 I C B P I J 8 , 8 2 5 9 , 2 7 5 7 , 9 0 0 (7 5 ) (0 . 8 4 ) 2 7 . 3 1 2 4 . 4 9 5 . 3 1 4 . 7 4 1 0 2 , 9 1 6 . 3 4

2 0 I N C O I J 3 , 7 0 0 4 , 7 2 0 2 , 5 1 0 8 1 0 2 8 . 0 3 - 3 1 . 0 5 1 . 1 6 1 . 2 9 3 6 , 7 6 4 . 4 5

2 1 I N D F I J 5 , 9 7 5 8 , 6 7 5 5 , 8 5 0 (1 , 6 5 0 ) (2 1 . 6 4 ) 1 6 . 1 8 1 1 . 9 4 2 . 1 5 1 . 5 4 5 2 , 4 6 3 . 0 5

2 2 I N D Y I J 2 , 7 4 0 4 , 6 3 0 1 , 8 3 0 (3 2 0 ) (1 0 . 4 6 ) 3 . 5 0 4 . 8 4 1 . 2 7 0 . 9 7 1 4 , 2 7 5 . 9 3

2 3 I N T P I J 1 7 , 8 5 0 2 3 , 9 5 0 1 2 , 5 0 0 (4 , 1 0 0 ) (1 8 . 6 8 ) 4 3 . 4 5 4 7 . 9 8 3 . 2 9 2 . 6 8 6 5 , 7 0 9 . 9 9

2 4 J S M R I J 4 , 4 7 0 6 , 7 7 5 3 , 9 2 0 (1 , 9 3 0 ) (3 0 . 1 6 ) 2 1 . 1 1 1 6 . 7 9 3 . 0 8 1 . 9 4 3 2 , 4 4 2 . 6 8

2 5 K L B F I J 1 , 3 5 5 1 , 7 8 5 1 , 1 5 5 (3 3 5 ) (1 9 . 8 2 ) 3 2 . 9 6 2 5 . 6 6 5 . 9 6 4 . 3 6 6 3 , 5 1 5 . 7 9

2 6 L P K R I J 3 4 0 7 4 5 3 1 4 (1 4 8 ) (3 0 . 3 3 ) 1 8 . 0 9 9 . 9 0 0 . 4 9 0 . 3 6 7 , 8 4 9 . 6 4

2 7 L P P F I J 6 , 9 0 0 1 1 , 9 7 5 5 , 5 2 5 (3 , 1 0 0 ) (3 1 . 0 0 ) 1 5 . 2 9 1 0 . 1 4 1 2 . 5 3 5 . 4 7 2 0 , 1 3 3 . 6 3

2 8 M N C N I J 8 2 0 1 , 6 9 0 8 0 5 (4 6 5 ) (3 6 . 1 9 ) 1 1 . 7 8 7 . 5 0 1 . 8 6 1 . 1 3 1 1 , 7 0 6 . 4 0

2 9 M Y R X I J 1 2 8 1 9 8 1 0 1 1 8 1 6 . 3 6 - - - - 1 1 , 0 9 8 . 0 1

3 0 P G A S I J 2 , 1 8 0 2 , 8 6 0 1 , 3 6 5 4 3 0 2 4 . 5 7 2 0 . 7 7 1 4 . 6 4 0 . 9 9 1 . 1 1 5 2 , 8 4 6 . 4 9

3 1 P T B A I J 4 , 1 6 0 4 , 9 4 0 1 , 8 1 0 1 , 7 0 0 6 9 . 1 1 5 . 7 9 9 . 0 0 1 . 9 1 2 . 7 6 4 7 , 9 2 5 . 9 4

3 2 P T P P I J 1 , 5 3 5 3 , 2 8 0 1 , 4 6 5 (1 , 1 0 5 ) (4 1 . 8 6 ) 1 1 . 2 6 5 . 5 1 1 . 4 3 0 . 7 3 9 , 5 1 6 . 8 4

3 3 P W O N I J 5 0 0 7 2 5 4 9 0 (1 8 5 ) (2 7 . 0 1 ) 1 7 . 6 2 1 0 . 9 6 3 . 2 0 1 . 9 8 2 4 , 0 7 9 . 8 0

3 4 S C M A I J 1 , 8 6 0 2 , 9 8 0 1 , 7 6 5 (6 2 0 ) (2 5 . 0 0 ) 2 7 . 2 4 1 6 . 6 2 9 . 3 0 5 . 3 2 2 7 , 1 9 6 . 1 8

3 5 S M G R I J 9 , 4 2 5 1 1 , 7 7 5 6 , 5 0 0 (4 7 5 ) (4 . 8 0 ) 2 9 . 1 4 2 8 . 0 1 2 . 0 3 1 . 8 5 5 5 , 9 0 4 . 5 8

3 6 S R I L I J 3 4 4 4 1 4 3 0 2 (3 6 ) (9 . 4 7 ) 7 . 2 6 - 1 . 1 8 - 7 , 0 3 5 . 5 5

3 7 S S M S I J 1 , 2 1 0 1 , 5 5 0 1 , 0 0 5 (2 9 0 ) (1 9 . 3 3 ) 1 7 . 9 2 1 3 . 5 2 3 . 5 4 2 . 5 3 1 1 , 5 2 5 . 2 5

3 8 T L K M I J 3 , 5 8 0 4 , 7 0 7 3 , 2 5 0 (8 1 9 ) (1 8 . 6 2 ) 1 9 . 6 8 1 6 . 6 9 4 . 7 0 3 . 5 2 3 5 4 , 6 4 2 . 7 4

3 9 T P I A I J 4 , 8 8 0 6 , 6 7 5 4 , 6 4 0 (1 , 1 2 0 ) (1 8 . 6 7 ) 2 3 . 8 1 2 7 . 3 0 4 . 7 4 3 . 3 0 8 7 , 0 2 7 . 5 8

4 0 T R A M I J 2 1 6 4 3 2 1 2 2 1 8 9 . 0 9 - - - - 1 0 , 7 2 0 . 8 8

4 1 U N T R I J 3 2 , 1 7 5 4 0 , 5 0 0 3 0 , 4 2 5 (3 , 2 2 5 ) (9 . 1 1 ) 1 7 . 8 4 1 1 . 7 0 2 . 9 1 2 . 3 0 1 2 0 , 0 1 7 . 1 0

4 2 U N V R I J 4 7 , 1 5 0 5 8 , 1 0 0 4 0 , 4 0 0 (8 , 7 5 0 ) (1 5 . 6 5 ) 6 0 . 8 9 4 6 . 7 6 8 2 . 4 4 5 9 . 3 8 3 5 9 , 7 5 4 . 5 0

4 3 W I K A I J 1 , 3 6 0 2 , 1 9 0 1 , 2 1 0 (1 9 0 ) (1 2 . 2 6 ) 1 1 . 5 5 8 . 2 2 1 . 1 0 0 . 8 6 1 2 , 1 9 9 . 1 3

4 4 W S B P I J 3 5 6 5 1 0 3 3 6 (5 2 ) (1 2 . 7 5 ) 1 0 . 5 6 7 . 5 2 1 . 4 7 1 . 0 3 9 , 3 8 4 . 5 7

4 5 _{W S K T I J} 1 , 6 9 5 3 , 1 5 0 1 , 6 8 0 (5 1 5 ) (2 3 . 3 0 ) 7 . 3 8 5 . 3 2 2 . 1 4 1 . 3 2 2 3 , 0 0 7 . 7 6

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M a cr o da t a

D e s c ript io n 1- D a y ( %) 5 - D a ys ( %) 1- M o nt h ( %) Y T D ( %)

P ro perty 0.54 (0.62) (7.77) (15.38) B asic Industry 1.40 (0.29) (2.75) 17.28

Trade 0.60 (0.48) (3.64) (11.24)

Finance 0.31 (0.15) (3.58) (6.54)

M iscellaneo us Industry 0.37 (1.35) 0.08 (9.11)

Co nsumer 2.20 0.76 3.43 (12.76)

Infrastructure 0.88 (0.18) (1.90) (13.18) A griculture (0.27) (1.08) (2.38) (3.05)

M ining 1.08 1.17 (2.37) 22.89

A ug- 18 J ul- 18

2.13 3.61 3.20 3.18 -0.05 0.28 117.90 118.31

F O R E X S po t R a t e 1- D a y ( %) 1- M o nt h ( %) Y T D ( %)

USD/IDR 14,946.00 - (2.14) (9.31)

USD/CNY 6.89 (0.17) (1.08) (5.57)

USD/EUR 0.86 (0.02) 0.43 3.10

USD/JP Y 113.47 (0.08) (2.01) (0.69)

USD/SGD 1.37 0.01 (0.29) (2.33)

USD/A UD 1.39 (0.09) 1.73 8.21

USD/GB P 0.76 (0.03) (1.58) 3.28

( in %)

7.40 1.06 1.46 8.18 8.18 8.38 Inflatio n M o M (in %)

Fo reign Reserves (in USD bn)

S e c t o rs

E c o no m ic Indic a t o rs

Inflatio n YTD (in %) E c o no m ic P a ra m e t e rs

Inflatio n Yo Y (in %)

Indo nesia 5-Year Go vernment B o nds Yield Indo nesia 10-Year Go vernment B o nds Yield Indo nesia 15-Year Go vernment B o nds Yield Le nding a nd D e po s it R a t e s

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Upcom in g I PO

D ivide n d

Righ t s I ssu e

2 0 1 6 2 0 1 7 2 0 1 8

LKPP A PBN P RA PBN

GDP Gr owth ( % , YoY) 5,0% 5,2% 5,4%

Ex change r ate ( USD/ I DR) 13307 13300 13500

I nflation ( % , YoY) 3% 4,3% 3,5%

3 Months SPN ( % ) 5,7% 5,2% 5,3%

I ndonesian Cr ude Oil ( USD/ bar r el) 40 45 48

Oil Lifting ( thousands bar r el/ day ) 829 815 800

Gas Lifting ( thousands, BOE/ day ) 1.18 1.15 1.2

Total State Budget ( in I DR tr illion) ₁₅₅₆ ₁₇₁₄ ₁₈₇₈

I N D I CA T OR

St o ck D PS ( Rp ) St a t u s Cu m D a t e Ex D a t e Re co r d in g Pa y m e n t

XC I D 1.46 _{01/ 08/ 2018} _{02/ 08/ 2018} _{06/ 08/ 2018} _{21/ 08/ 2018}

AKRA 120 _{11/ 07/ 2018} _{12/ 07/ 2018} _{16/ 07/ 2018} _{03/ 08/ 2018}

XI SB 1.99 _{11/ 07/ 2018} _{12/ 07/ 2018} _{16/ 07/ 2018} _{18/ 07/ 2018}

BMAS 8 _{06/ 07/ 2018} _{09/ 07/ 2018} _{11/ 07/ 2018} _{02/ 08/ 2018}

C ASS 15.65 _{06/ 07/ 2018} _{09/ 07/ 2018} _{11/ 07/ 2018} _{02/ 08/ 2018}

I NAI 30 _{06/ 07/ 2018} _{09/ 07/ 2018} _{11/ 07/ 2018} _{02/ 08/ 2018}

ULTJ 10 _{06/ 07/ 2018} _{09/ 07/ 2018} _{11/ 07/ 2018} _{01/ 08/ 2018}

BATA 5.55 _{05/ 07/ 2018} _{06/ 07/ 2018} _{10/ 07/ 2018} _{27/ 07/ 2018}

C SAP 4 05/ 07/ 2018 06/ 07/ 2018 10/ 07/ 2018 _{01/ 08/ 2018}

T ick e r Pr ice ( Rp ) Cu m Da t e EX Da t e T r a d in g

MAYA 1 : 6 2,200 24/ 09/ 2018 25/ 09/ 2018 01/ 10/ 2018 - 05/ 10/ 2018

BBKP 3 : 10 570 06/ 07/ 2018 09/ 07/ 2018 13/ 07/ 2018 - 25/ 07/ 2018

PEGE 3 : 1 100 06/ 07/ 2018 09/ 07/ 2018 13/ 07/ 2018 - 19/ 07/ 2018

Ra t io

St a t e Bu dge t

Co m p a n y Bu sin e ss

I PO Pr ice

( Rp )

I ssu e d Sh a r e s ( Mn )

Of f e r in g Da t e ( 2 0 1 7 ) List in g Un d e r w r it e r

Madusar i Mur ni I ndah 495.9 23/ 08/ 2018 - 27/ 08/ 2018 30- Aug- 18

Tr im itr a Pr oper tindo Tbk 773.3 10/ 07/ 2018 - 14/ 08/ 2018 23- Aug- 18

MD Pictur es Tbk 1981.0 25/ 07/ 2018 - 31/ 07/ 2018 07- Aug- 18

Mahk ota Gr oup Tbk 703.7 03/ 07/ 2018 - 09/ 07/ 2018 12- Jul- 18

(8)

Pick s of Th e D a y

ROTI : TRAD I N G BUY

ROTI ber hasil br eak Resist ance Tr endline 1.070,ROTI berpeluang m elanj ut kan penguatan dengan m enguj i Resist ance 1.095, 1.105 dan 1.115. Nam un, j ikaROTI gagal br eak Resist ance 1.095, m akaROTI akan m encoba Suppor t 1.060, 1.050 dan 1.035.

ROTI dilihat I ndikat or MACD m engindikasikan pola Upt r end dan St oc osc m engindikasikan pola Reversal.

Ent r y point : 1.070 — 1.075

Exit point : 1.095 ( 2.3% ) , 1.115 ( 4.2% )

St op Loss : 1.050 ( - 1.9% )

SCM A : BUY ON W EAKN ESS

SCM Abelum ber hasil br eak Resist ance Tr endline 1.880, SCM Aber peluang m enguj i Suppor t 1.850, 1.820 dan 1.795. Nam un, j ika

SCM A ber hasil break Resist ance 1.880, m akaSCM A akan m encoba Resist ance 1.900, 1.920 dan 1.965.SCM Adilihat I ndikator St oc osc m engindikasikan pola Rever sal.

Ent r y point : 1.850 — 1.860

Exit point : 1.900 ( 2.7% ) , 1.920 ( 3.8% )

St op Loss : 1.820 ( - 1.6% )

Dec 2018 Feb Mar Apr May Jun Jul Aug Sep

950 ROTI - Daily 9/27/2018 4:05:00 PM Open 1050, Hi 1075, Lo 1030, Clos e 1075 (2.4%)MA(Clos e,50)= 969.10

1,075

969.1

-40 -20 0 20

ROTI -MACD(12,26)= 26.41,Signal(12,26,9)= 19.52 26.4108

19.5201

20 80

ROTI -Stoch %K(15,3)= 88.17,Stoch %D(15,3,3)= 87.06 _88.172

87.0609

70

ROTI -RSI(15)= 69.53 69.5334

1,800 SCMA - Daily 9/27/2018 4:08:00 PM Open 1820, Hi 1870, Lo 1820, Clos e 1860 (2.2%)MA(Clos e,50)= 1,986.30

1,860

1,986.3

Dec 2018 Feb Mar Apr May Jun Jul Aug Sep -100

-50 0 50 100 SCMA -MACD(12,26)= -49.40,Signal(12,26,9)= -50.32

-49.4015

-50.3234

20 80 SCMA -Stoch %K(15,3)= 28.23,Stoch %D(15,3,3)= 22.55

28.2261

22.5521

(9)

Pick s of Th e D a y

GGRM : TRAD I N G BUY

GGRM m encoba br eak Resistance Trendline 75.250. Jika ber hasil br eak 75.250, m akaGGRM berpeluang m elanj ut kan penguat an m enguj i Resist ance 75.750 dan 76.550. Nam un, j ikaGGRMgagal break Resist ance Tr endline 75.250, m akaGGRMakan m encoba Suppor t 74.500, 74.000 dan 73.500. GGRMdilihat I ndikator MACD dan St oc osc m engindikasikan pola Golden Cr oss.

Ent r y point : 75.000 — 75.250

Exit point : 75.750 ( 1.0% ) , 76.550 ( 2.1% )

St op Loss : 74.500 ( - 0.7% )

AN TM : TRAD I N G BUY

AN TM ber hasil br eak Resist ance Tr endline 845.AN TMber peluang m elanj ut kan penguat an dengan m enguj i Resist ance 860, 880 dan 900. Nam un, j ikaAN TMgagal br eak Resist ance 860, m akaAN TMakan m encoba Suppor t 830, 820 dan 805.AN TMdilihat I ndikator St oc osc dan MACD m engindikasikan pola Upt rend.

Ent r y point : 835 — 840

Exit point : 860 ( 3.0% ) , 880 ( 5.4% )

St op Loss : 820 ( - 1.8% )

Dec 2018 Feb Mar Apr May Jun Jul Aug Sep 66,000

68,000

GGRM - Daily 9/27/2018 4:05:00 PM Open 73800, Hi 75000, Lo 73500, Clos e 75000 (3.1%)MA(Clos e,50)= 73,374.00

75,000

73,374

-2,000 0 2,000 GGRM -MACD(12,26)= 255.16,Signal(12,26,9)= 228.20

255.161

228.197

20 80 GGRM -Stoch %K(15,3)= 68.65,Stoch %D(15,3,3)= 64.59

68.6503

64.5862

70 GGRM -RSI(15)= 54.14

600

ANTM - Daily 9/27/2018 4:13:00 PM Open 805, Hi 845, Lo 805, Clos e 835 (3.7%)MA(Clos e,50)= 855.80

835

855.8

Dec 2018 Feb Mar Apr May Jun Jul Aug Sep -20

0 20 40 60 ANTM -MACD(12,26)= -11.87,Signal(12,26,9)= -17.30

-11.8681

-17.3042

20 80 ANTM -Stoch %K(15,3)= 72.22,Stoch %D(15,3,3)= 61.17

72.2222

61.1744

(10)

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