DAILY RESEAR CH
Market Activity
Market Index : 7,174.2
Index Movement : -20.5 -0.28%
Market Volume : 30,045 Mn shrs Market Value : 11,854 Bn rupiah
Last
Close +/- %
Leading Movers
BBCA 8,075 125 1.6
BUMI 174 25 16.8
BRMS 256 24 10.3
UNTR 32,950 325 1.0
Lagging Movers
TLKM 4,570 -180 -3.8
ASII 6,975 -75 -1.1
GOTO 326 -2 -0.6
BBRI 4,270 -20 -0.5
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
BBCA 375 BBRI 290
MSIN 19 TLKM 217
BMRI 17 ADRO 61
FILM 11 PGAS 46
AMRT 11 LPPF 25 Money Market
Last
Close +/- %
USD/IDR 14,823 -25.0 0.2
JIBOR O/N 5.9 0.0 -0.3
Dual Listing Securities Last
Close +/- %
TLKM 30.4 -1.2 -3.9
EIDO 23.9 0.0 0.0
Global Indices Last
Close +/- %
DJIA 33,292 323 0.98
S&P 500 4,199 58 1.41
Euro Stoxx 3,675 7 0.19
MSCI World 2,768 32 1.19
STI 3,248 14 0.44
Nikkei 28,479 166 0.58
Hang Seng 19,968 700 3.63
Commodities*
Last
Close +/- %
Brent Oil 99.3 -1.9 -1.86
Coal (ICE) 412.8 -7.3 -1.73
CPO Malay 4,255 -49.0 -1.14
Gold 1,771 6.1 0.35
Nickel 21,904 496.0 2.32
Tin 24,505 -225.0 -0.92
*last price per closing date
Changes Changes
Changes
Changes
Changes Thursday, 25 Aug 2022
DAILY RESEARCH
26 August 2022
IHSG Berpotensi Rebound Hari Ini
Bursa saham AS hari Kamis (25/8) ditutup menguat: Dow Jones +0.98%; S&P500 +1.41%, dan Nasdaq +1.52% menjelang Jackson Hole Meeting Jumat ini.
Pertumbuhan GDP AS -0.6% qoq di 2Q22, lebih baik dari perkiraan (-0.8% qoq). Data initial jobless claim turun tipis menjadi 243 ribu (prev: 245 ribu). Investor AS juga menanti rilis data personal income dan personal spending bulan Juli yang akan dirilis Jumat ini. Yield UST 10Y naik ke level 3.0% dan USD Index turun ke level 108.4.
Pasar komoditas bergerak mixed; minyak melemah -2.8% ke level USD 92.7/bbl, CPO -1.1% ke MYR 4,255/ton, batu bara -1.7% di level USD 413/ton; sementara tembaga menguat +1.5% ke level USD 370/ton, dan emas +0.35% ke level USD 1,771/toz.
Bursa Asia ditutup menguat pada perdagangan Kamis (25/8): Hang Seng +3.63%, Kospi +1.22%, Shanghai +0.97%, dan Nikkei +0.58%. IHSG ditutup melemah -0.28%
pada hari yang sama ke level 7,174. Total keseluruhan net foreign sell sebesar IDR 655.6 miliar. Net sell asing di pasar regular sebesar IDR 535.8 miliar dan net sell di pasar negosiasi sebesar IDR 119.8 miliar. Net sell asing tertinggi di pasar reguler dicetak oleh BBRI (IDR 290.4 miliar), TLKM (IDR 217.2 miliar), dan ADRO (IDR 61.1 miliar). Net buy asing tertinggi di pasar reguler dicatatkan oleh BBCA (IDR 375.1 miliar), MSIN (IDR 19.1 miliar), dan BMRI (IDR 16.8 miliar). Top leading movers emiten BBCA, BUMI, BRMS, sementara top lagging movers emiten TLKM, ASII, GOTO. Indeks EIDO ditutup flat +0.04%.
Update kasus Covid-19 di Indonesia terdapat penambahan 5,214 kasus baru kemarin (25/8), dengan daily positivity rate 11.6%. Recovery rate 96.8% dan kasus aktif 47,778 pada hari yang sama.
Pagi ini pasar regional dibuka menguat, Nikkei +0.59% dan Kospi +0.18%. IHSG diperkirakan bergerak menguat hari ini, seiring pergerakan positif bursa global dan regional.
Market Latest Report
ADHI : Higher Equity Base to Boost Future Growth
Highlights
PTBA : Inline Result di 2Q22
Oil & Gas : Buka Peluang Naikkan HGBT
Equity Research│26 August 2022
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)
25-Aug-21 25-Sep-21 25-Oct-21 25-Nov-21 25-Dec-21 25-Jan-22 25-Feb-22 25-Mar-22 25-Apr-22 25-May-22 25-Jun-22 25-Jul-22
0 20 40 60 80 100 120 140
25-Aug-21 15-Sep-21 6-Oct-21 27-Oct-21 17-Nov-21 8-Dec-21 29-Dec-21 19-Jan-22 9-Feb-22 2-Mar-22 23-Mar-22 13-Apr-22 4-May-22 25-May-22 15-Jun-22 6-Jul-22 27-Jul-22 17-Aug-22
40 90 140 190 240 290 340 390 440 490
25-Aug-21 24-Sep-21 24-Oct-21 23-Nov-21 23-Dec-21 22-Jan-22 21-Feb-22 23-Mar-22 22-Apr-22 22-May-22 21-Jun-22 21-Jul-22 20-Aug-22
1,500 2,500 3,500 4,500 5,500 6,500 7,500 8,500
4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500
10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000
25-Aug-21 15-Sep-21 6-Oct-21 27-Oct-21 17-Nov-21 8-Dec-21 29-Dec-21 19-Jan-22 9-Feb-22 2-Mar-22 23-Mar-22 13-Apr-22 4-May-22 25-May-22 15-Jun-22 6-Jul-22 27-Jul-22 17-Aug-22
1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100
COVID-19 Data Indonesia
7 Day Running Covid-19 Data
Total 1D Change Total Daily Total Closed Cases
Cases % Deaths Deaths Active Cases %
8/25/2022 6,334,357 0.08 157,457 19 (164,381,344) 2695.08 8/24/2022 6,329,143 0.09 157,438 18 (164,386,539) 2697.30 8/23/2022 6,323,715 0.08 157,420 24 (164,391,949) 2699.61 8/22/2022 6,318,857 0.05 157,396 19 (164,396,783) 2701.69 8/21/2022 6,315,557 0.06 157,377 12 (164,400,064) 2703.10 8/20/2022 6,311,608 0.08 157,365 22 (164,404,001) 2704.79 8/19/2022 6,306,686 0.08 157,343 26 (164,408,901) 2706.90
Average 20 2701.21
Source: SSI Research, Bloomberg
Equity Research│26 August 2022
PTBA: Inline Result di 2Q22
Pendapatan Perseroan mencatatkan peningkatan ke Rp8,2 triliun (+25% QoQ; +62% YoY) membawa pendapatan kumulatif di 1H22 ke level Rp18,4 triliun (+79% YoY), dari segi laba kotor Perseroan mencatatkan peningkatan ke Rp4,9 triliun (+42% QoQ; +94% YoY), beban operasional mencatatkan peningkatan ke level Rp4,1 triliun (+44% QoQ; +125% YoY) dan laba bersih tercatat meningkat ke level Rp3,9 triliun (+71% QoQ; +204% YoY) Dan membawa laba bersih kumulatif 1H22 ke level Rp6,2 triliun (+246% YoY). (Laporan Keuangan)
Comment:
Pendapatan maupun laba bersih Perseroan masih tercatat inline dengan konsensus, namun patut diketahui Perseroan mencatatkan peningkatan yang signifikan keuntungan dari entitas asosiasi dan ventura bersama yang tercatat meningkat ke level Rp489 miliar di 1H22 (kerugian atas entitas asosiasi dan ventura bersama 1H21: Rp14 miliar). Secara umum kami masih melihat bahwa harga batu bara masih akan remain elevated di 2H22F.
PTBA: Under review (Previous: PTBA: SELL: 0.6x PE '23E, 1.6x PBV '23E, TP: IDR 4,000)
Oil & Gas: Buka Peluang Naikkan HGBT
Kementerian Energi dan Sumber Mineral (ESDM) membuka peluang untuk menaikkan harga gas bumi tertentu (HGBT) untuk pasokan industri domestik menyusul harga komoditas energi primer itu yang masih tertahan tinggi hingga pertengahan tahun ini di pasar dunia. Sub Koordinator Penyiapan Program Pemanfaatan Migas Kementerian ESDM Syafrudin Setiawan mengatakan kementeriannya belakangan masih membahas potensi untuk menaikkan HGBT di angka USD 7 per per million british thermal unit (MMBTU) yang berlaku efektif untuk seluruh jenis industry. (Bisnis Indonesia) Comment:
Potensi peningkatan ini dapat membuat spread margin PGAS dan RAJA lebih lebar yang tadinya dengan HGBT acuan di USD 6/MMBTU PGAS dan RAJA masing mendapatkan spread sekitar USD 1.9-2.3/MMBTU dan USD 1.7- 1.9/MMBTU. Dengan potensi HGBT naik di angka USD 7/MMBTU, PGAS dan RAJA masing - masing berpotensi dapat meningkatkan spreadnya menjadi USD 2.8 - 3.2 /MMBTU dan USD 1.9-2.3/MMBTU. Asumsi apabila ASP PGAS dan RAJA meningkat 10% dari asumsi ASP awal kita, maka ini mentranslasikan 14% peningkatan dari laba bersih untuk PGAS dan 15% peningkatan dari laba bersih untuk RAJA. Namun terdapat beberapa risiko dari peningkatan HGBT ini yang dimana pada harga sebelumnya, gas industri baru terserap 68-70% sepanjang 1H22.
Dengan adanya potensi peningkatan ini, ada potensi penurunan demand gas industri sehingga dapat
menurunkan volume distribusi gas.
Equity Research│26 August 2022
ADHI: Higher Equity Base to Boost Future Growth
ADHI akan menerima PMN sebesar IDR 1.97 triliun yang akan digunakan untuk menyelesaikan proyek PSN dan menerima Rights Issue sebesar IDR 1.89 triliun untuk mendukung proyek investasi. Kami melihat dana PMN akan mengakselerasi pendapatan seiring dengan arahan bahwa proyek PSN harus selesai di 2024. Kami juga memproyeksikan leverage yang lebih baik menjadi sekitar 1.1x dari saat ini sebesar 1.8x karena nilai ekuitas yang lebih besar. ADHI diperdagangkan di valuasi 0.5x 22F P/B, setara dengan -0.8SD dari rata-rata P/B 5-tahun sebesar 0.75x.
Klik disini untuk mengunduh laporan
Equity Research│26 August 2022
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) (%) 22A 23E 22A 23E 22A 23E
Banks
BBCA HOLD 9.4 8,075 8,100 8,393 0.3 27.4 24.7 4.5 4.1 16.3 16.5
BBRI BUY 8.7 4,270 5,400 5,404 26.5 15.4 13.8 2.0 2.0 13.2 14.2
BMRI BUY 5.6 8,575 10,000 10,196 16.6 10.3 9.2 1.7 1.6 16.6 17.0
BBNI HOLD 2.2 8,275 8,500 10,210 2.7 10.1 8.4 1.0 0.9 10.1 11.1
BBTN BUY 0.2 1,520 2,200 2,188 44.7 5.9 5.0 0.6 0.6 10.9 11.3
Average 8.8 7.5 1.1 1.0 12.5 13.1
Consumer (Staples)
ICBP BUY 0.7 8,775 12,000 11,332 36.8 14.5 13.0 2.7 2.3 18.3 18.0
INDF HOLD 1.0 6,575 7,150 8,680 8.7 8.0 7.3 1.1 1.0 14.0 14.2
KLBF BUY 1.1 1,610 1,950 1,898 21.1 20.9 18.7 3.5 3.1 16.7 16.8
UNVR SELL 0.9 4,840 4,800 4,875 -0.8 31.0 29.3 35.1 32.3 113.0 110.0 SIDO BUY 0.2 735 830 926 12.9 21.4 18.1 6.7 6.2 31.1 34.3
Average 19.2 17.3 9.8 9.0 38.6 38.7
Cigarette
HMSP SELL 0.3 910 870 985 -4.4 11.7 10.1 3.4 3.3 29.3 32.4
GGRM BUY 0.3 25,050 32,500 25,632 29.7 7.6 5.3 0.8 0.7 10.5 14.1
Average 9.6 7.7 2.1 2.0 19.9 23.2
Healthcare
MIKA HOLD 0.5 2,550 2,800 2,919 9.8 34.5 31.1 5.7 5.0 16.5 16.2
SILO BUY 0.1 1,050 1,410 1,356 34.3 19.9 17.1 2.0 1.8 9.9 10.6
HEAL SELL 0.3 1,415 1,140 1,563 -19.4 33.1 11.7 5.7 4.8 17.1 41.2
Average 29.1 20.0 4.4 3.9 14.5 22.6
Poultry
CPIN BUY 1.4 5,875 7,000 6,553 19.1 22.3 20.8 3.5 3.2 15.6 15.3
JPFA BUY 0.3 1,585 1,800 2,026 13.6 10.2 10.3 1.3 1.2 12.5 11.5
MAIN HOLD 0.0 625 685 554 9.6 9.1 6.1 0.6 0.6 6.8 9.4
WMUU BUY 0.0 136 340 160 150.0 2.6 2.7 0.9 0.7 34.4 24.9
WMPP BUY 0.0 172 240 N/A 39.5 9.6 5.7 2.2 1.7 22.8 29.4
Average 10.7 9.1 1.7 1.5 18.4 18.1
Retail
MAPI BUY 0.3 990 1,100 1,273 11.1 12.5 14.1 1.9 1.7 15.5 12.2
RALS BUY 0.0 580 850 654 46.6 18.7 15.3 1.1 1.1 5.9 6.9
ACES BUY 0.2 745 1,340 928 79.9 17.2 11.8 2.2 1.5 12.9 13.0
LPPF SELL 0.1 3,750 3,430 6,401 -8.5 10.7 8.0 9.5 6.0 88.3 75.2
ERAA BUY 0.1 492 785 810 59.6 7.1 6.5 1.2 1.0 16.9 16.1
AMRT HOLD 1.3 2,000 2,100 2,312 5.0 42.6 37.7 9.4 8.3 22.2 22.0
Average 18.1 15.6 4.2 3.3 26.9 24.2
Pulp and Paper
INKP BUY 0.5 7,950 9,900 9,200 24.5 6.9 7.8 0.6 0.6 9.3 7.8
ALDO BUY 0.0 710 2,000 N/A 181.7 12.9 10.6 1.2 1.0 9.1 9.8
Average 9.9 9.2 0.9 0.8 9.2 8.8
Media
MNCN BUY 0.3 920 1,400 1,376 52.2 3.9 3.5 0.6 0.5 13.5 14.8
SCMA BUY 0.1 232 340 353 46.6 8.9 7.5 2.0 1.7 22.2 23.0
FILM SELL 0.1 2,970 2,000 3,300 -32.7 742.5 198.0 22.5 21.2 3.0 10.7
Average 251.8 69.7 8.4 7.8 12.9 16.2
Equity Research│26 August 2022
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) (%) 22A 23E 22A 23E 22A 23E
Telco
EXCL BUY 0.4 2,680 3,000 3,880 11.9 38.8 30.8 1.5 1.4 3.8 4.6
ISAT HOLD 0.3 7,225 7,250 8,232 0.3 n/a 84.0 3.0 0.3 -5.6 0.4
TLKM SELL 7.7 4,570 4,500 5,119 -1.5 18.2 18.1 3.4 3.2 18.9 17.8
Average 28.5 44.3 2.6 1.7 5.7 7.6
Telco Infra
TBIG SELL 0.7 2,920 1,550 3,017 -46.9 57.3 50.3 8.9 7.9 15.6 15.8
TOWR BUY 1.0 1,230 1,600 1,445 30.1 17.3 16.0 4.5 3.9 25.7 24.2
MTEL BUY 0.4 795 965 978 21.4 44.2 37.9 1.9 1.8 4.3 4.9
Average 39.6 34.7 5.1 4.6 15.2 15.0
Auto
ASII HOLD 4.5 6,975 7,500 8,057 7.5 13.2 12.5 1.2 1.2 9.5 9.3
DRMA BUY 0.0 690 830 854 20.3 9.9 8.7 2.4 2.0 24.5 22.5
ASLC BUY 0.0 204 320 290 56.9 88.7 48.6 2.5 2.4 2.8 5.0
Average 37.3 23.3 2.0 1.9 12.3 12.3
Mining Contracting
UNTR SELL 1.8 32,950 31,000 37,379 -5.9 17.7 13.1 2.0 1.8 11.2 13.8
Average 17.7 13.1 2.0 1.8 11.2
Property
BSDE BUY 0.3 950 1,480 1,273 55.8 10.9 9.7 0.5 0.4 4.4 4.6
PWON BUY 0.3 490 630 630 28.6 16.9 15.8 1.4 1.3 8.1 8.0
SMRA BUY 0.2 620 1,080 998 74.2 20.0 15.9 1.1 1.0 5.6 6.6
CTRA BUY 0.3 980 1,360 1,418 38.8 10.8 10.2 1.0 0.9 9.3 9.0
Average 14.5 11.6 0.8 0.7 4.9 5.4
Industrial Estate
SSIA BUY 0.0 352 570 593 61.9 29.3 8.8 0.4 0.4 1.5 4.9
Average 29.3 8.8 0.4 0.4 1.5 4.9
Construction
PTPP BUY 0.1 1,000 1,110 1,170 11.0 19.6 15.4 0.4 0.4 2.1 2.4
ADHI BUY 0.0 785 1,420 978 80.9 13.5 4.8 0.5 0.4 3.4 8.7
WSKT BUY 0.1 545 1,220 978 123.9 n/a n/a 0.6 0.7 -22.2 -11.0
WIKA BUY 0.1 1,040 1,440 1,122 38.5 43.3 30.6 0.5 0.5 1.3 1.7
WEGE BUY 0.0 186 300 N/A 61.3 8.3 5.9 0.7 0.7 9.0 11.3
Average 14.0 10.7 0.6 0.6 -3.7 0.9
Cement
INTP BUY 0.5 9,350 13,000 11,309 39.0 20.5 15.8 1.6 1.5 7.6 9.7
SMGR BUY 0.7 6,550 13,050 9,722 99.2 13.8 13.0 1.0 1.0 7.4 7.5
Average 17.2 14.4 1.3 1.3 7.5 8.6
Precast
WTON BUY 0.0 226 266 270 17.7 23.8 17.4 0.6 0.6 2.4 3.2
Average 23.8 17.4 0.6 0.6 2.4 3.2
Oil and Gas
PGAS BUY 0.7 1,825 2,100 1,970 15.1 10.2 9.7 0.9 0.9 9.3 8.9
AKRA BUY 0.3 1,210 1,350 1,287 11.6 16.4 14.4 2.4 2.2 14.5 15.1
MEDC HOLD 0.2 775 780 975 0.6 2.7 2.4 0.9 0.6 31.4 26.8
RAJA BUY 0.0 925 1,300 1,500 40.5 38.5 14.0 2.0 1.7 5.1 11.9
Average 17.0 10.1 1.5 1.3 15.1 15.7
Chemical
TPIA BUY 1.1 2,330 10,250 1,881 339.9 26.8 12.3 1.6 1.6 6.0 13.0
BRPT BUY 0.8 850 1,150 872 35.3 106.3 42.5 4.5 4.2 4.2 9.9
ESSA SELL 0.3 1,145 225 1,465 -80.3 n/a 45.8 3.9 3.9 -0.3 8.6
Average 66.5 33.5 3.4 3.2 3.3 10.5
Utilities
Equity Research│26 August 2022
Potential Mkt. Cap Net Profit P/E
(IDRbn) Period Price (IDR) mn shares % (IDRbn) Usage (IDRbn) (x)
Source : e-ipo.co.id, *Note: Subject to OJK approval
31 Aug - 5 Sep 100 - 130 1,750 25.9 175 - 227 Working Capital and
Ccapex of subsidiary 43.0 15.6 4M22
Upcoming IPO's
Financial Result Period
Ticker Company (Sector) Listing Offering Shares issued Proceeds
COAL* Black Diamond
Resources (Energy) 7-Sep 675 - 878
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) (%) 22A 23E 22A 23E 22A 23E
Metal
ANTM BUY 0.6 1,995 4,150 3,116 108.0 15.3 13.2 2.0 1.7 12.8 13.0
MDKA SELL 1.7 4,130 3,000 5,886 -27.4 95.4 22.4 15.0 16.4 15.7 72.9
INCO BUY 0.4 6,150 6,900 7,934 12.2 15.0 12.4 1.7 1.4 11.4 11.2
BRMS SELL 0.7 256 225 282 -12.1 85.3 85.3 2.1 1.5 2.4 1.8
Average 52.8 367.6 4.6 4.7 7.6 19.8
Coal
ITMG SELL 0.5 38,500 33,850 38,549 -12.1 5.7 8.2 1.6 1.2 29.1 15.2
ADRO HOLD 1.7 3,410 3,600 4,215 5.6 8.1 4.0 1.8 1.1 22.2 26.3
PTBA SELL 0.6 4,360 4,000 4,409 -8.3 0.6 0.5 2.1 1.8 377.7 362.9
HRUM BUY 0.2 1,710 2,720 2,974 59.1 14.4 11.9 2.4 2.0 16.9 17.2
Average 7.2 6.1 2.0 1.5 111.5 105.4
Plantation
AALI BUY 0.1 9,100 14,500 11,851 59.3 11.7 10.2 0.8 0.8 7.2 7.8
LSIP BUY 0.1 1,215 1,370 1,463 12.8 10.7 9.6 0.8 0.8 7.6 7.9
SSMS SELL 0.1 1,470 1,200 2,040 -18.4 43.2 18.6 3.2 2.8 7.4 15.0
TAPG BUY 0.1 710 1,050 1,006 47.9 7.9 8.3 1.5 1.4 19.2 19.4
STAA HOLD 0.0 1,370 1,400 1,700 2.2 10.6 9.4 3.4 2.7 32.3 28.8
Average 19.0 12.7 1.6 1.3 12.0 13.0
Technology
ASSA BUY 0.1 1,535 2,600 3,300 69.4 20.7 13.1 2.6 2.2 12.5 16.5
EMTK BUY 1.1 1,940 2,600 2,550 34.0 194.0 161.7 8.5 7.7 4.4 4.8
BUKA BUY 0.6 322 400 579 24.2 2.4 n/a 1.5 1.5 61.8 -1.8
GOTO BUY 7.5 326 420 358 28.8 n/a n/a 3.0 2.6 -155.5 -135.2
Average 42.5 37.3 3.2 2.8 (0.7) (4.9)
Source: SSI Research, Bloomberg
Note: INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA, SHIP report in USD.
Equity Research│26 August 2022
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 2,768 32.47 1.19 (0.69) 5.49 0.89 (14.33) (10.99) 3,262 2,467
U.S. (S&P) 4,199 58.35 1.41 (1.98) 5.86 5.54 (11.90) (6.61) 4,819 3,637
U.S. (DOW) 33,292 322.55 0.98 (2.08) 4.07 3.65 (8.38) (5.97) 36,953 29,653
Europe 3,675 7.08 0.19 (2.72) 2.77 (1.76) (14.51) (11.88) 4,415 3,357
Emerging Market 1,003 18.31 1.86 0.20 1.37 (1.91) (18.55) (20.75) 1,328 958
FTSE 100 7,480 8.23 0.11 (0.82) 2.37 (1.13) 1.29 4.98 7,687 6,788
CAC 40 6,382 (5.20) (0.08) (2.68) 2.74 (0.45) (10.79) (4.27) 7,385 5,756
Dax 13,272 51.90 0.39 (3.11) 1.34 (6.74) (16.45) (15.97) 16,290 12,391
Indonesia 7,174 (20.50) (0.28) (0.17) 4.40 4.22 9.01 18.42 7,355 5,983
Japan 28,479 165.54 0.58 (1.56) 2.98 7.04 (1.09) 2.66 30,796 24,682
Australia 7,072 23.77 0.34 (0.60) 3.89 (0.48) (5.01) (5.60) 7,625 6,407
Korea 2,488 10.99 0.44 (0.18) 3.12 (4.75) (16.44) (20.47) 3,215 2,277
Singapore 3,248 14.32 0.44 (0.78) 1.74 1.20 3.97 4.45 3,466 3,038
Malaysia 1,495 28.23 1.92 (1.39) 2.17 (2.96) (4.60) (5.69) 1,620 1,409
Hong Kong 19,968 699.64 3.63 1.03 (4.48) (0.73) (14.66) (21.43) 26,560 18,235
China 3,246 31.05 0.97 (0.95) (0.95) 3.94 (10.81) (7.29) 3,724 2,864
Taiwan 15,200 130.85 0.87 (1.28) 2.66 (4.81) (16.57) (10.94) 18,620 13,929
Thailand 1,644 11.97 0.73 0.46 5.82 0.60 (0.85) 2.60 1,719 1,518
Philipines 6,706 62.98 0.95 (1.73) 7.77 0.92 (5.84) (1.67) 7,552 6,055
1D 1D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 132.20 (3.06) (2.55) (8.77) (3.74) 146.87 132.20
Inflation Rate (yoy, %) 4.94 4.94 1.59
Gov Bond Yld (10yr, %) 7.06 14.85 7.53 6.01
US Fed Rate (%) 2.50 2.50 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,823 (25.00) 0.17 0.07 1.18 (1.28) (3.85) (2.87) 15,038 14,057
Japan 136.68 0.19 (0.14) 0.21 0.17 (6.99) (15.80) (19.45) 139.39 109.11
UK 1.18 (0.00) (0.11) (0.08) (1.74) (6.20) (12.66) (13.73) 1.39 1.17
Euro 1.00 (0.00) (0.11) (0.73) (1.51) (7.10) (12.37) (15.21) 1.19 0.99
China 6.85 (0.01) 0.15 (0.92) (1.44) (2.28) (7.20) (5.45) 6.87 6.31
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 99.99 0.65 0.65 3.38 (4.22) (14.83) 28.55 40.69 139.13 65.72
CPO 4,236 (3.00) (0.07) 3.57 9.74 (40.23) (17.89) (7.89) 8,034 3,449
Coal 412.75 (7.25) (1.73) (5.11) 0.41 15.13 171.99 148.20 487.50 136.75
Tin 24,310 30.00 0.12 (1.16) (1.30) (28.64) (37.44) (26.14) 51,000 22,980
Nickel 21,677 323.00 1.51 (0.47) (2.48) (19.08) 4.43 13.08 55,000 17,705
Copper 8,129 94.50 1.18 1.21 8.69 (13.27) (16.37) (13.11) 10,845 6,955
Gold 1,756 (3.11) (0.18) 0.49 2.23 (5.14) (4.02) (2.05) 2,070 1,681
Silver 19.19 (0.05) (0.28) 0.77 3.05 (12.81) (17.65) (18.55) 27 18
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│26 August 2022
Research Team
Prasetya Gunadi Head of Equity Research, Strategy, Banking prasetya.gunadi@samuel.co.id +6221 2854 8320
Lionel Priyadi Macro Equity Strategist lionel.priyadi@samuel.co.id +6221 2854 8854
Fikri C Permana Senior Economist fikri.permana@samuel.co.id +6221 2854 8144
Muhamad Alfatih, CSA, CTA, CFTe Senior Technical Analyst m.alfatih@samuel.co.id +6221 2854 8129
William Mamudi, CFTe, CMT Senior Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382
Yosua Zisokhi Cement , Cigarette, Paper, Plantation,Telco Infra, Chemicals yosua.zisokhi@samuel.co.id +6221 2854 8387
Andreas Kristo Saragih Construction, Toll Roads andreas.kristo@samuel.co.id +6221 2864 8303
Paula Ruth Telco, Digital Banks paula.ruth@samuel.co.id +6221 2854 8332
Olivia Laura Anggita Healthcare, Property, Industrial Estate, Coal Mining olivia.laura@samuel.co.id +6221 2854 8346 M. Farras Farhan Media, Poultry, Oil & Gas, Technology farras.farhan@samuel.co.id +6221 2854 8346
Pebe Peresia Automotive, Consumer Staples, Retail pebe.peresia@samuel.co.id +6221 2854 8339
Adolf Richardo Editor adolf.richardo@samuel.co.id +6221 2864 8397
Ashalia Fitri Yuliana Research Associate ashalia.fitri@samuel.co.id +6221 2854 8389
Muhammad Gibran Research Associate muhammad.gibran@samuel.co.id +6221 2854 8392
Jonathan Guyadi Research Associate jonathan.guyadi@samuel.co.id +6221 2854 8321
Abraham Timothy Research Associate abraham.timothy@samuel.co.id +6221 2854 8322
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
Widya Meidrianto Institutional Equity Sales widya.meidrianto@samuel.co.id +6221 2854 8317
Fachruly Fiater Institutional Sales Trader fachruly.fiater@samuel.co.id +6221 2854 8325
Lucia Irawati Institutional Sales Trader lucia.irawati@samuel.co.id +6221 2854 8173
Alexander Tayus Institutional Equity Dealer alexander.tayus@samuel.co.id +6221 2854 8319
Private Wealth Management
Hisdi Liem Head of PWM Equity Sales hisdi.liem@samuel.co.id +6221 2854 8188
Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395
Gitta Wahyu Retnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365
Vincentius Darren PWM Equity Sales darren@samuel.co.id +6221 2854 8348
Wahyudi Budiyono 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
Nadya Attahira Fixed Income Sales Associate Nadya.attahira@samuel.co.id +6221 2854 8305
Equity Retail / Online Team
Joseph Soegandhi Head of Equity 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
Andry Sukanto, AWP,CSA,CTA Head of Private Group & Individual Sales andry.sukanto@samuel.co.id +6221 2854 8308
Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163
Michael Alexander Equity Retail michael.alexander@samuel.co.id +6221 2854 8369
