DAILY RESEAR CH
Market Activity
Market Index : 6,656.0
Index Movement : -2.8 -0.04%
Market Volume : 19,893 Mn shrs Market Value : 11,873 Bn rupiah
Last
Close +/- %
Leading Movers
ARTO 13,825 400 3.0
ASII 6,350 125 2.0
BBNI 7,225 150 2.1
BBHI 4,830 240 5.2
Lagging Movers
TLKM 3,740 -50 -1.3
BBCA 7,500 -25 -0.3
UNTR 25,650 -650 -2.5
HMSP 1,130 -20 -1.7
Foreign Net Buy / Sell (Regular Market) Net Buy (IDR bn) Net Sell (IDR bn)
BBRI 310 BBCA 230
ASII 149 BUKA 61
BBNI 102 TOWR 31
BMRI 98 ABMM 29
PGAS 69 INDF 24 Money Market
Last
Close +/- %
USD/IDR 14,076 -34.0 0.2
JIBOR O/N 5.9 0.0 -0.3
Dual Listing Securities Last
Close +/- %
TLKM 26.6 -0.2 -0.6
EIDO 24.7 0.1 0.5
Global Indices Last
Close +/- %
DJIA 35,457 199 0.56
S&P 500 4,520 33 0.74
Euro Stoxx 4,167 15 0.37
MSCI World 3,136 22 0.71
STI 3,199 25 0.79
Nikkei 29,216 190 0.65
Hang Seng 25,787 377 1.5
Commodities*
Last
Close +/- %
Brent Oil 85.1 0.8 0.89
Coal (ICE) 220.9 -14.1 -6.00 CPO Malay 5,071 118.0 2.38
Gold 1,783 14.2 0.80
Nickel 21,115 1,065.0 5.31
Tin 38,178 467.5 1.24
*last price per closing date
Changes Changes
Changes
Changes
Changes Tuesday, 19 Oct 2021
Sentimen Global Positif, IHSG Berpotensi Menguat
Bursa AS semalam ditutup cenderung menguat; DJIA +0.4%, S&P500 +0.4%, dan Nasdaq -0.1%. Pergerakan bursa AS ini terjadi ditengah ekspektasi positif pelaku pasar terhadap kinerja perusahaan AS di 3Q21. Data building permits AS periode September yang rilis pada Selasa (19/10) menunjukkan penurunan sebesar -7.7%
mom menjadi 1.58 juta, lebih rendah dari ekspektasi konsensus (1.68 juta). Yield UST 10 tahun naik +0.1%, sementara indeks dolar AS menunjukkan penurunan hingga -0.2%.
Harga minyak terpantau menguat setelah stok cadangan minyak di fasilitas penyimpanan minyak terbesar di negara Paman Sam tersebut turun ke level terendah dalam tiga tahun terakhir; WTI naik +1.1% ke level USD 83.9/bbl dan Brent naik +0.87% ke USD 85.8/bbl. Harga komoditas lain juga terpantau menguat; emas naik +0.8% menjadi USD 1,783.4/ toz, timah menguat +1.24% ke level USD 38,177.5/ton, nikel naik +5.3% menjadi USD 21,115/ton, dan CPO naik +2.4% ke level RM 5,066/ton yang merupakan level tertinggi selama ini.
Bursa Asia kemarin ditutup menguat: Hang Seng +1.4% dan Nikkei +0.1%. EIDO ditutup menguat +0.5% ke level 24.7. Di perdagangan Selasa (19/10), IHSG ditutup cenderung flat (-0.04%) ke level 6,656, dengan net buy asing sebesar IDR 655 miliar di pasar reguler dan net sell asing sebesar IDR 140.7 miliar di pasar negosiasi. Net buy asing tertinggi di pasar reguler dicatatkan oleh BBRI (IDR 309.6 miliar), ASII (IDR 149 miliar), dan BBNI (IDR 101.5 miliar). Sementara itu, net sell asing tertinggi dicatatkan oleh BBCA (IDR 230.2 miliar), SMMA (IDR 93.2 miliar), dan BUKA (IDR 60.9 miliar). Top leading movers adalah ARTO, ASII, BBNI, dan top lagging movers adalah TLKM, BBCA, dan UNTR.
Terjadi penambahan 914 kasus baru COVID-19 pada Rabu (20/10) dengan positive rate sebesar 0.4%. Sementara itu, sebanyak 1,207 orang dinyatakan sembuh di hari yang sama. Indonesia sendiri mencatatkan recovery rate sebesar 96.2%. Terkait vaksinasi, saat ini 109.8 juta penduduk telah menerima vaksin COVID-19 dosis pertama (+791,239, 52.7% dari target) dan 64.6 juta penduduk telah menerima dosis kedua.
Pagi ini, Nikkei dibuka melemah -0.68%, sementara Kospi menguat +0.18%. Kami memperkirakan IHSG akan bergerak menguat hari ini, seiring dengan sentimen positif yang ditunjukkan bursa global. Selain itu, naiknya harga sejumlah komoditas dapat mnjadi sentimen positif bagi saham-saham komoditas.
DAILY RESEARCH
21 October 2021
Market Highlights
BSDE : Marketing Sales IDR 6.1 Triliun (87% Target) Pada 9M21
INCO : Produksi Merosot 13%
BBTN : Laba Bersih 9M21 Naik +35.3% yoy Menjadi IDR 1.52 Triliun
Equity Research│21 October 2021
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)
20-Oct-20 10-Nov-20 1-Dec-20 22-Dec-20 12-Jan-21 2-Feb-21 23-Feb-21 16-Mar-21 6-Apr-21 27-Apr-21 18-May-21 8-Jun-21 29-Jun-21 20-Jul-21 10-Aug-21 31-Aug-21 21-Sep-21 12-Oct-21
0 10 20 30 40 50 60 70 80 90
20-Oct-20 10-Nov-20 1-Dec-20 22-Dec-20 12-Jan-21 2-Feb-21 23-Feb-21 16-Mar-21 6-Apr-21 27-Apr-21 18-May-21 8-Jun-21 29-Jun-21 20-Jul-21 10-Aug-21 31-Aug-21 21-Sep-21 12-Oct-21
40 90 140 190 240 290 340
20-Oct-20 19-Nov-20 19-Dec-20 18-Jan-21 17-Feb-21 19-Mar-21 18-Apr-21 18-May-21 17-Jun-21 17-Jul-21 16-Aug-21 15-Sep-21 15-Oct-21
1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500
5,000 5,500 6,000 6,500 7,000 7,500 8,000
14,000 16,000 18,000 20,000 22,000
20-Oct-20 10-Nov-20 1-Dec-20 22-Dec-20 12-Jan-21 2-Feb-21 23-Feb-21 16-Mar-21 6-Apr-21 27-Apr-21 18-May-21 8-Jun-21 29-Jun-21 20-Jul-21 10-Aug-21 31-Aug-21 21-Sep-21 12-Oct-21
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 Dai l y Total Cl osed Cases
Cases % Deaths Deaths Acti ve Cases %
10/20/2021 4,237,201 0.02 143,077 28 (59,914,774) 1514.02 10/19/2021 4,236,287 0.02 143,049 50 (59,095,562) 1494.98 10/18/2021 4,235,384 0.01 142,999 47 (58,640,183) 1484.53 10/17/2021 4,234,758 0.02 142,952 19 (58,075,110) 1471.39 10/16/2021 4,234,011 0.02 142,933 44 (57,305,977) 1453.47 10/15/2021 4,233,014 0.02 142,889 41 (56,331,948) 1430.78 10/14/2021 4,232,099 0.02 142,848 37 (55,322,247) 1407.21
Average 38 1465.20
Source: SSI Research, Bloomberg
Equity Research│21 October 2021
BSDE: Marketing Sales IDR 6.1 Triliun (87% Target) Pada 9M21
PT Bumi Serpong Damai (BSDE) mencatatkan marketing sales sebesar IDR 6.1 triliun atau tumbuh +29% yoy pada 9M21, mencapai 87% dari target marketing sales yang ditetapkan sebesar IDR 7 triliun. Segmen residensial menjadi penyumbang terbesar untuk marketing sales BSDE sebesar IDR 4.2 triliun, tumbuh +44% yoy (kontribusi 69% dari total pencapaian). (Investor Daily)
Comment:
Marketing sales di 3Q21 sendiri turun -25% qoq sebesar IDR 1.5 triliun (22% dari target). Marketing sales unit bisnis komersial di 9M21 mencapai IDR 1.5 triliun (25% kontribusi dari total marketing sales), terdiri dari kavling komersial sebesar IDR 481 milyar, apartemen/kondominium IDR 421 milyar dan ruko IDR 642 milyar. Segmen tanah kavling untuk JV tumbuh +83% yoy menjadi IDR 332 milyar. Berdasarkan pencapaian hingga 9M21, kami yakin BSDE dapat mencapai target marketing salesnya di 2021. BSDE: Under review (Previous: BSDE: BUY: 12.8x PE '21E, 0.6x PBV '21E, TP: IDR 1,350)
INCO: Produksi Merosot 13%
INCO melaporkan volume produksi sebanyak 48.373 ton nikel dalam matte sepanjang Januari-September 2021 (9M21). Angka tersebut lebih rendah -13.29% dari volume produksi perseroan pada 9M20 (55,792 ton). (Bisnis Indonesia)
Comment:
Faktor utama yang menyebabkan penurunan angka produksi INCO adalah aktivitas pemeliharaan yang
dilakukan tahun ini. Meski demikian, manajemen masih berusaha mengoptimalkan aktivitas produksinya,
dengan target tahun ini sebesar 64,000 ton (2020: 72,237 ton). Secara kumulatif, produksi 9M21 mencapai
76.8% dari proyeksi FY21F SSI sebesar 63,000 ton (full report: https://samuel.co.id/uploads/INCO-2021-08-06-
ID.pdf). Secara kuartalan, angka produksi 3Q21 (18,127 ton) juga lebih rendah -6.9% dibanding 3Q20 (19,477
ton), meski ada peningkatan sebesar +20.5% qoq (2Q21: 15,048 ton). SSI mempertahankan proyeksi volume
FY21-22F sebesar 63,000-79,000 ton dengan asumsi harga nikel FY21-22F di level USD 18,200-18,800/ton pada
FY22F. INCO: (BUY: 26.8x PE '21E, 1.6x PBV '21E, TP: IDR 6,700)
Equity Research│21 October 2021
BBTN: Laba Bersih 9M21 Naik +35.3% yoy Menjadi IDR 1.52 Triliun
Laba bersih BBTN naik +35.3% yoy pada 9M21 menjadi IDR 1.52 triliun, mencapai 78.3% FY21F SSI serta melewati ekspektasi. Untuk 3Q21, BBTN membukukan laba bersih sebesar IDR 595.4 miliar, 2x lipat 2Q21 sekaligus mendekati laba bersih 1Q21. Pendapatan bunga bersih 9M21 sendiri naik +30.2% yoy, sedangkan laba operasional naik +45.5% yoy.
Comment:
Pendapatan bunga 9M21 bergerak flat (-0.6% yoy) disertai penurunan beban bunga sebesar -17.9% yoy. Disisi
lain, walaupun biaya provisi 9M21 naik +27% yoy menjadi IDR 2 triliun namun 3Q21 sendiri turun -28.5% qoq
dibandingkan 2Q21. (BBTN: BUY: 7.5x PE '21E, 0.9x PBV '21E, TP: IDR 2,300)
Equity Research│21 October 2021
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) (%) 20A 21E 20A 21E 20A 21E
Banks
BBCA HOLD 11.9 7,500 8,100 6,643 8.0 34.1 29.1 5.0 4.6 14.7 15.7
BBRI BUY 8.1 4,400 5,300 4,633 20.5 28.0 16.5 2.9 2.2 10.3 13.1
BMRI BUY 4.3 7,200 8,000 7,954 11.1 19.6 14.1 1.8 1.7 9.1 12.1
BBNI BUY 1.7 7,225 8,500 7,423 17.6 45.2 10.4 1.2 1.0 2.6 9.7
BBTN BUY 0.2 1,810 2,300 1,997 27.1 11.9 7.5 1.0 0.9 8.1 11.4
Average 25.6 10.7 1.3 1.2 6.6 11.1
Consumer (Staples)
ICBP BUY 1.3 9,300 12,000 11,182 29.0 21.5 16.5 4.3 3.7 19.9 22.1
INDF BUY 0.8 6,825 9,500 8,350 39.2 12.3 12.4 1.5 1.4 11.9 11.0
KLBF BUY 0.9 1,450 1,750 1,704 20.7 24.6 22.3 3.9 3.6 16.0 16.0
UNVR SELL 2.3 5,125 4,500 5,100 -12.2 27.3 27.0 39.7 39.1 145.7 145.0
SIDO BUY 0.3 860 970 962 12.8 27.7 23.8 8.0 7.5 29.1 31.5
Average 22.7 20.4 11.5 11.0 44.5 45.1
Cigarette
HMSP SELL 1.5 1,130 870 1,176 -23.0 15.3 15.5 4.3 4.3 28.5 28.1
GGRM HOLD 0.8 35,000 38,240 34,082 9.3 8.0 7.7 1.1 1.1 14.2 13.9
Average 11.6 11.6 2.7 2.7 21.4 21.0
Healthcare
MIKA BUY 0.4 2,250 3,500 3,043 55.6 37.8 35.6 6.6 6.0 17.5 16.8
SILO BUY 0.2 8,600 10,800 10,463 25.6 119.4 33.0 2.3 2.2 2.0 6.8
HEAL BUY 0.2 1,135 1,380 1,442 21.6 10.4 9.0 1.4 1.2 13.3 13.5
Average 55.9 25.8 3.4 3.1 10.9 12.4
Poultry
CPIN BUY 1.4 6,425 7,300 7,345 13.6 36.5 28.1 5.0 4.6 13.7 16.4
JPFA BUY 0.3 1,915 2,200 2,469 14.9 23.9 12.6 1.9 1.6 8.0 13.1
MAIN BUY 0.0 815 1,380 1,107 69.3 n/a 12.0 0.9 0.8 -0.9 6.8
WMUU BUY 0.0 186 340 340 82.8 n/a 8.5 n/a 1.8 n/a 21.8
Average 30.2 17.5 2.6 2.4 7.0 12.1
Retail
MAPI HOLD 0.2 890 950 921 6.7 n/a 26.9 2.8 2.7 -10.4 10.0
RALS BUY 0.1 770 900 717 16.9 n/a 16.4 1.3 1.3 -1.5 7.7
ACES BUY 0.3 1,445 1,900 1,493 31.5 30.7 22.6 4.9 4.4 16.1 19.6
LPPF HOLD 0.1 2,910 3,150 2,622 8.2 n/a 5.5 13.2 6.8 -147.3 122.8
Average 30.7 22.0 3.0 2.8 1.4 12.4
Pulp and Paper
INKP HOLD 0.6 9,000 9,900 9,475 10.0 10.3 12.4 0.8 0.7 7.6 6.0
Average 10.3 12.4 0.8 0.7 7.6
Media
MNCN BUY 0.2 930 1,650 1,337 77.4 5.8 4.8 0.8 0.7 13.6 14.6
SCMA BUY 0.3 1,930 2,450 2,410 26.9 24.7 21.7 7.3 6.3 29.7 29.3
Average 15.3 13.3 4.1 3.5 21.6 21.9
Telco
EXCL SELL 0.4 3,080 3,000 3,521 -2.6 88.0 44.6 1.7 1.7 1.9 3.8
ISAT BUY 0.4 5,650 7,250 7,367 28.3 n/a 65.7 2.4 0.3 -5.6 0.4
TLKM HOLD 4.9 3,740 4,050 4,378 8.3 17.8 16.5 3.1 2.9 17.2 17.7
Average 52.9 42.3 2.4 1.6 4.5 7.3
Telco Retail
ERAA BUY 0.1 645 1,625 836 151.9 3.4 2.8 0.4 0.3 11.0 11.9
Telco Infra
TBIG SELL 0.8 2,870 2,500 3,269 -12.9 59.8 45.6 9.9 6.3 16.5 13.7
TOWR BUY 0.8 1,180 1,600 1,678 35.6 21.1 18.4 5.9 5.0 27.9 27.0
Average 40.4 32.0 7.9 5.6 22.2 20.4
Equity Research│21 October 2021
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) (%) 20A 21E 20A 21E 20A 21E
Auto
ASII HOLD 3.4 6,350 6,750 6,794 6.3 14.2 12.9 1.3 1.2 9.0 9.6
Average 14.2 12.9 1.3 1.2 9.0
Mining Contracting
UNTR BUY 1.2 25,650 31,000 29,223 20.9 13.8 10.2 1.6 1.4 11.2 13.8
Average 13.8 10.2 1.6 1.4 11.2
Property
BSDE BUY 0.3 1,140 1,350 1,454 18.4 17.0 12.8 0.7 0.6 4.0 4.9
PWON HOLD 0.3 525 530 612 1.0 40.4 14.2 1.0 1.7 2.6 12.1
ASRI SELL 0.1 200 130 208 -35.0 15.4 7.1 0.4 0.3 2.3 4.7
LPKR SELL 0.1 161 140 198 -13.0 n/a n/a 0.4 0.4 -0.5 -0.2
SMRA BUY 0.2 930 1,200 1,112 29.0 77.5 38.8 2.0 2.1 2.5 5.3
CTRA BUY 0.3 1,095 1,360 1,359 24.2 26.1 20.3 1.3 1.3 5.1 6.2
Average 35.3 18.6 1.0 1.1 2.7 5.5
Industrial Estate
SSIA BUY 0.0 482 700 810 45.2 n/a 43.8 0.6 0.6 -1.6 1.3
DMAS BUY 0.1 222 250 252 12.6 14.8 13.1 1.4 1.7 9.6 12.7
KIJA SELL 0.0 164 150 N/A -8.5 14.9 12.6 0.6 0.4 4.0 3.4
Average 14.9 23.2 0.9 0.9 4.0 5.6
Construction
PTPP BUY 0.1 1,340 1,900 1,291 41.8 60.9 10.9 0.6 0.5 0.9 4.9
ADHI BUY 0.1 1,190 1,800 1,042 51.3 49.6 11.6 0.7 0.7 1.5 6.1
WSKT BUY 0.2 1,025 1,220 1,026 19.0 n/a n/a 0.8 1.0 -44.6 -4.2
WIKA HOLD 0.2 1,425 1,440 1,254 1.1 14.8 9.7 0.7 0.7 5.0 7.1
Average 41.8 10.7 0.7 0.7 -9.3 3.5
Cement
INTP BUY 0.6 11,525 16,250 13,670 41.0 32.0 26.6 1.9 1.8 5.8 6.9
SMGR BUY 0.7 8,775 13,050 11,498 48.7 23.0 18.5 1.5 1.4 6.3 7.4
Average 27.5 22.6 1.7 1.6 6.1 7.2
Precast
WSBP BUY 0.1 172 230 140 33.7 15.6 4.6 0.4 0.4 2.9 8.9
WTON BUY 0.0 302 450 310 49.0 27.5 8.2 0.8 0.7 2.9 8.9
Average 21.5 6.4 0.6 0.6 2.9 8.9
Oil and Gas
PGAS HOLD 0.5 1,560 1,680 1,608 7.7 19.5 9.3 1.6 1.4 8.0 15.3
AKRA HOLD 0.2 4,370 4,400 4,334 0.7 19.0 17.3 2.0 1.9 10.6 11.0
MEDC BUY 0.2 620 1,090 855 75.8 n/a 8.5 0.9 0.8 -9.9 9.7
Average 19.3 11.7 1.5 1.4 2.9 12.0
Chemical
TPIA BUY 1.8 7,250 10,250 8,971 41.4 500.0 83.3 5.0 5.0 1.0 6.0
BRPT BUY 1.1 980 1,150 1,145 17.3 204.8 125.2 5.2 5.2 2.5 4.2
ESSA SELL 0.1 386 225 575 -41.7 n/a n/a 2.7 1.3 -20.0 -0.5
Average 352.4 104.2 4.3 3.8 -5.5 3.2
Utilities
JSMR BUY 0.4 4,400 5,000 5,144 13.6 66.7 22.1 1.3 1.2 2.0 5.6
Metal
ANTM BUY 0.8 2,530 3,230 3,275 27.7 40.8 24.8 3.1 2.9 7.7 11.7
MDKA SELL 1.0 3,320 3,000 3,337 -9.6 n/a 18.0 12.1 13.2 15.7 72.9
Equity Research│21 October 2021
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) (%) 20A 21E 20A 21E 20A 21E
Coal
ITMG SELL 0.4 25,425 19,700 24,703 -22.5 43.6 8.4 2.3 1.8 5.4 22.1
ADRO SELL 0.8 1,855 1,530 2,073 -17.5 17.2 13.1 1.1 1.1 6.3 8.7
PTBA BUY 0.4 2,820 3,200 3,189 13.5 13.2 8.2 1.9 1.5 14.6 18.0
Average 24.7 9.9 1.8 1.5 8.8 16.3
Plantation
AALI BUY 0.2 10,175 12,300 11,945 20.9 23.5 16.8 1.0 1.0 4.4 5.9
LSIP SELL 0.1 1,420 1,370 1,640 -3.5 13.9 11.4 1.0 0.9 7.5 8.3
TBLA BUY 0.1 885 980 1,050 10.7 7.3 5.9 0.7 0.6 8.9 10.3
SIMP SELL 0.1 492 388 N/A -21.1 44.7 28.9 0.5 0.5 1.2 1.8
SSMS HOLD 0.1 1,135 1,200 1,900 5.7 33.4 14.4 2.5 2.1 7.4 15.0
Average 24.6 15.5 1.1 1.0 5.9 8.3
Technology
ASSA SELL 0.2 3,380 3,000 3,950 -11.2 131.5 79.9 8.0 7.3 6.1 9.1
EMTK BUY 1.2 1,630 2,800 3,050 71.8 47.9 108.7 8.0 4.4 16.7 4.1
Average 59.4 54.6 4.9 3.7 9.0 9.1
Source: SSI Research, Bloomberg
Note: GIAA, INKP, PGAS, ITMG, ADRO, MEDC, BRPT, INCO, DOID, TPIA report in USD.
Equity Research│21 October 2021
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
World 3,148 11.51 0.37 2.05 3.21 3.65 17.01 30.19 3,174 2,276
U.S. (S&P) 4,536 16.56 0.37 3.95 4.10 4.93 20.77 31.75 4,546 3,234
U.S. (DOW) 35,609 152.03 0.43 3.58 4.82 3.18 16.35 25.79 35,670 26,144
Europe 4,172 5.34 0.13 2.18 1.82 3.61 17.44 31.17 4,253 2,921
Emerging Market 1,301 6.56 0.51 2.72 3.15 (0.84) 0.76 14.34 1,449 1,101
FTSE 100 7,223 5.57 0.08 1.14 3.47 3.21 11.80 25.04 7,244 5,526
CAC 40 6,706 35.76 0.54 1.64 2.33 3.73 20.79 38.15 6,914 4,513
Dax 15,523 7.09 0.05 1.79 1.14 0.65 13.15 23.61 16,030 11,450
Indonesia 6,656 (2.77) (0.04) 2.62 9.54 10.61 11.32 30.51 6,685 5,064
Japan 29,071 (184.44) (0.63) 1.82 (2.58) 5.53 5.93 22.98 30,796 22,948
Australia 7,414 0.53 0.01 1.40 1.93 1.44 12.56 19.74 7,633 5,904
Korea 3,016 3.24 0.11 0.93 (3.95) (6.20) 4.97 27.23 3,316 2,267
Singapore 3,198 (0.93) (0.03) 1.32 4.40 2.54 12.46 26.63 3,237 2,421
Malaysia 1,606 0.35 0.02 1.41 4.96 5.92 (1.28) 7.63 1,696 1,452
Hong Kong 26,136 348.81 1.35 3.20 7.90 (4.00) (4.02) 5.58 31,183 23,681
China 3,587 (6.15) (0.17) 0.71 (0.75) 0.68 3.28 7.88 3,732 3,210
Taiwan 16,888 (12.85) (0.08) 3.30 (2.25) (3.27) 14.63 31.14 18,034 12,481
Thailand 1,638 7.16 0.44 (0.37) 1.41 6.27 12.99 34.61 1,658 1,187
Philipines 7,297 30.77 0.42 3.23 6.04 12.68 2.20 16.22 7,432 6,081
1D 1D 1W 1M 3M YTD 1YR High Low
Foreign Reserves (US$Bn) 146.90 1.46 7.15 8.10 8.69 146.90 133.56
Inflation Rate (yoy, %) 1.60 1.68 1.33
Gov Bond Yld (10yr, %) 6.07 (8.08) 6.86 5.86
US Fed Rate (%) 0.25 0.25 0.25
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Indonesia 14,076 (34.00) 0.24 1.01 1.19 3.14 (0.18) 4.49 14,708 13,865
Japan 114.31 0.00 0.00 (0.55) (4.44) (3.52) (9.68) (8.50) 114.70 102.59
UK 1.38 (0.00) (0.01) 1.10 1.20 0.80 1.12 5.13 1.42 1.29
Euro 1.17 0.00 0.03 0.49 (0.61) (1.19) (4.60) (1.75) 1.23 1.15
China 6.39 0.01 (0.16) 0.55 1.14 1.44 2.10 4.44 6.75 6.36
Chg (Pts)
1D 1D 1W 1M 3M YTD 1YR High Low
Oil (Brent) 85.95 0.13 0.15 2.32 15.59 18.99 65.93 105.97 86.04 35.74
CPO 5,300 125.00 2.42 6.55 19.29 22.15 36.21 77.85 5,315 2,998
Coal 213.10 (7.80) (3.53) (16.43) 18.62 41.13 164.72 269.32 270.00 57.15
Tin 38,215 505.00 1.34 5.03 12.70 14.06 88.02 104.69 38,800 17,540
Nickel 20,963 913.00 4.55 10.81 10.01 12.20 26.18 30.83 21,235 14,930
Copper 10,186 36.00 0.35 5.54 12.76 9.10 31.16 47.64 10,748 6,670
Gold 1,782 (0.42) (0.02) (0.79) 0.40 (1.22) (6.15) (7.41) 1,966 1,677
Silver 24.30 0.00 0.01 3.30 7.99 (3.82) (7.98) (3.00) 30 21
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│21 October 2021
Research Team
Suria Dharma Head of Equity Research, Strategy, Banking, Consumer Staples suria.dharma@samuel.co.id +6221 2854 8148
Lionel Priyadi Macro Equity Strategist lionel.priyadi@samuel.co.id +6221 2854 8854
Fikri Permana Senior Economist fikri.permana@samuel.co.id +6221 2854 8144
William Mamudi, CFTe, CMT Senior Technical Analyst william.mamudi@samuel.co.id +6221 2854 8382
Muhamad Alfatih, CSA, CTA, CFTe Senior Technical Analyst m.alfatih@samuel.co.id +6221 2854 8129 Yosua Zisokhi Cement , Cigarette,Paper, Plantation,Telco Infra, Chemical yosua.zisokhi@samuel.co.id +6221 2854 8387
Dessy Lapagu Aviation, Coal, Metal dessy.lapagu@samuel.co.id +6221 2854 8392
Olivia Laura Anggita Healthcare, Property olivia.laura@samuel.co.id +6221 2854 8346
M. Farras Farhan Media, Poultry, Oil & Gas farras.farhan@samuel.co.id +6221 2854 8346
Calista Muskitta Retail calista.muskitta@samuel.co.id +6221 2854 8331
Pebe Peresia Consumer Staples pebe.peresia@samuel.co.id +6221 2854 8339
Andreas Kristo Saragih Constructions, Toll Roads andreas.kristo@samuel.co.id +6221 2864 8303
Adolf Richardo Editor adolf.richardo@samuel.co.id +6221 2864 8854
Ashalia Fitri Research Associate ashalia.fitri@samuel.co.id +6221 2854 8163
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
Henry Sutanto Institutional Equity Sales henry.sutanto@samuel.co.id +6221 2854 8329
Fachruly Fiater Sales Trader fachruly.fiater@samuel.co.id +6221 2854 8325
Lucia Irawati Sales Trader lucia.irawati@samuel.co.id +6221 2854 8173
Suryanti Salim Sales Trader suryanti.salim@samuel.co.id +6221 2854 8173
Muhammad Faisal Dealer m.faisal@samuel.co.id +6221 2854 8173
Private Wealth Management
Evelyn Satyono Head of PWMEquity Sales evelyn.satyono@samuel.co.id +6221 2854 8380
Clarice Wijana PWM Equity Sales clarice.wijana@samuel.co.id +6221 2854 8395
GittaWahyuRetnani PWM Equity Sales gitta.wahyu@samuel.co.id +6221 2854 8365
WahyudiBudiyono 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
Julio Simangunsong Fixed Income Sales julio.natanael@samuel.co.id +6221 28548384
Fendy Fixed Income Sales fendy@samuel.co.id +6221 28548385
Equity Retail / Online Team
Joseph Soegandhi Head of OLT 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
Salt World Widjaja Retail Equity Sales salt@samuel.co.id +6221 2854 8163
Michael Alexander Equity Retail michael.alexander@samuel.co.id +6221 2854 8163
Albertha Palma Equity Assistant albertha.palma@samuel.co.id +6221 2854 8163
