Thursday, January 7, 2021

Today’s Market:



IHSG diperkirakan bergerak mixed dengan kecenderungan

menguat. Bursa AS ditutup menguat pada perdagangan

Rabu (01/06). Harga batubara turun ke level USD 79.45

per Mt. Crude oil naik ke level USD 50.46 per barrel.

Rupi-ah menguat terhadap Dollar AS di level Rp 13,895. 10Yr

Government Bonds Yield naik ke level 5.96%.



Dari global, Jon Ossoff dan Raphael Warnock

me-menangkan pemilihan Senator di Georgia. Dengan

demikian, partai Demokrat menguasai Senat Amerika.



Dari dalam negeri, pemerintah pusat menerapkan

ke-bijakan pengetatan PSBB di pulau Jawa dan Bali selama

kurun 11-25 Jan-21.



Dari dalam negeri, Kemenkeu mencatat defisit anggaran

pendapatan dan belanja negara (APBN) sepanjang 2020

sebesar Rp 956,3 tn, atau setara 6,09% dari produk

do-mestik bruto (PDB).



Sehubungan dengan industri, Asosiasi Pengusaha Pusat

Belanja Indonesia (APPBI) mencatat tingkat okupansi toko

ritel modern di mal turun 10-20% menjadi 70-80% pada

2020 (vs. 2019 berkisar 80-90%).



Secara teknikal indeks hari Kamis (01/07), IHSG diprediksi

bergerak di kisaran 6,046-6,120.

Source: Bloomberg, Sinarmas Investment Research

See pg. 6-8 for Technical Corner

www.sinarmassekuritas.co.id

See important disclaimer at the end of this report

IHSG turun sebanyak 71.7 poin (1.17%) ke level 6065.68.

Sementara LQ45 turun sebanyak 15.7 poin (1.63%) ke level

945.68. Foreign net buy sebesar Rp 76.07 miliar.

ID X Statistics C lo sing

JCI 6,065.68

Transaction Value Regular M arket (IDR tn) 18.023 Transaction Volume Regular M arket (mn shares) 19,990 Foreign Net Buy (Sell) (IDR bn) 76

Foreign Net Buy (Sell) YTD (IDR Tn) (45.2)

Total M arket Capitalization (IDR tn) 7,008.11

LQ45 945.68 (1.63) 1.15 EIDO 24.00 (1.28) 2.48 IDX 20.98 (1.69) 1.84 DOW JONES 30,829.40 1.44 0.73 S&P 500 3,748.14 0.57 (0.21) NASDAQ 12,740.79 (0.61) (1.14) FTSE 6,841.86 3.47 5.90 NIKKEI 27,055.94 (0.38) (1.41) HANG SENG 27,692.30 0.15 1.69 STRAITS TIM ES 2,863.01 0.12 0.68 KLSE 1,591.97 (1.02) (2.17) USD/IDR 13,895.00 0.00 (1.12) EUR/IDR 17,129.35 0.00 (0.93) JPY/IDR 135.53 0.00 (0.69) SGD/IDR 10,571.59 0.00 (0.75) AUD/IDR 10,811.42 0.00 (0.09) GBP/IDR 18,953.64 0.00 (1.46)

Crude Oil (USD/barrel) 50.46 6:34:57 AM 4.00

Coal (USD/mn tons) 79.45 1/6/2021 (1.30)

Natural Gas (USD/mmBtu) 2.71 6:35:36 AM 6.58

Gold (USD/ounce) 1,923.72 6:45:38 AM 1.33

Nickel (USD/mn tons) 17,682.00 1/5/2021 6.43

Tins (USD/mn tons) 21,185.00 1/5/2021 4.23

CPO (M YR/mn tons) 4,040.00 1/6/2021 3.83

Rubber (JPY/kg) 275.10 4:07:05 PM 2.34

Wheat (USD/bushel) 647.50 1/6/2021 1.09

Corn (USD/bushel) 495.00 1/6/2021 2.27

C o mmo dities

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

C urrency Spo t R ate R ate (ID R ) 1-D ay C hg (%) YT D C hg (%) P rice Last T ransactio n YT D C hg (%)

Thursday, January 7, 2021

0 2,000 4,000 6,000 8,000 10, 000 12, 000 14, 000 16, 000 18, 000 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 M illi on s

Daily Corporate and Industry News

Presiden Joko Widodo (Jokowi) memastikan Indonesia telah memesan 329,5 juta dosis vaksin Covid-19 dari

sejumlah perusahaan internasional. Source: Investor Daily

Pemerintah menerapkan kebijakan PSBB di Pulau Jawa dan Bali selama kurun 11-25 Januari 2021. Keputusan ini

mempertimbangkan parameter kedaruratan rasio keterisian tempat tidur rumah sakit yang sudah diatas 70%.

Source: Kontan

Kementerian Keuangan (Kemenkeu) mencatat defisit anggaran pendapatan dan belanja negara (APBN) sepanjang

2020 sebesar Rp 956,3 triliun. Angka tersebut setara 6,09% dari produk domestik bruto (PDB). Source: Kontan

Pupuk Indonesia (PI Persero) selaku BUMN yang ditugaskan menyalurkan pupuk bersubsidi, menyatakan

kesia-pannya dalam memenuhi ketersediaan pupuk untuk menunjang produktivitas petani, sesuai alokasi yang ditetapkan

Kementerian Pertanian (Kementan). Source: Investor Daily

Asosiasi Pengusaha Pusat Belanja Indonesia (APPBI) mencatat, okupansi toko ritel modern di mal anjlok 10-20%

menjadi 70-80% pada 2020, dibandingkan 2019 berkisar 80-90%. Source: Investor Daily

Panca Mitra Multiperdana (PMMP) memulai proyek pabrik pengolahan udang kedelapan yang berlokasi di Situbondo,

Jawa Timur. Perusahaan akan memulai groundbreaking pabrik tersebut pada Kamis 7-Jan-21. Source: Kontan

Kimia Farma (KAEF), pada tahun 2021 mengalokasikan dana senilai Rp 600 miliar untuk proyek pembangunan

pabrik bahan baku obat (BBO) parasetamol. Source: Kontan

Aneka Tambang (ANTM), menginformasikan bahwa Proyek Pembangunan Pabrik Feronikel Halmahera Timur (P3FH)

sudah mencapai 98% dari target. Jika pembangunan telah selesai, maka akan menambah kapasitas produksi

perus-ahaan menjadi 40.500 Ton Nikel dan Feronikel per tahun. Source: Kontan

World Equity Indices

Source: Bloomberg, Sinarmas Investment Research

www.sinarmassekuritas.co.id

See important disclaimer at the end of this report

WO R LD E Q UIT Y IN D IC E S N O T IC KE R 1 INDU Index 31,022.65 18,213.65 222.92 0.73 25.62 21.04 4.76 4.43 9,489.69 9,489.69 2 SP X Index 3,783.04 2,191.86 (7.93) (0.21) 29.85 22.91 4.16 3.83 32,891.73 32,891.73 3 CCM P Index 12,973.33 6,631.42 (147.49) (1.14) 66.01 33.19 6.39 4.85 20,714.43 20,714.43 4 SP TSX Index 17,970.51 11,172.73 394.75 2.26 26.95 17.27 1.91 1.87 2,731.62 2,154.61 5 M EXB OL Index 46,251.05 32,503.25 1,520.28 3.45 39.38 15.61 2.08 1.24 5,772.81 289.58 6 SX5E Index 3,867.28 2,302.84 58.44 1.64 53.48 18.40 1.97 1.80 3,344.58 4,113.50 7 UKX Index 7,689.67 4,898.79 381.34 5.90 184.96 15.72 1.77 1.72 1,970.03 2,680.22 8 CA C Index 6,111.41 3,632.06 79.19 1.43 58.13 18.23 1.75 1.62 1,808.89 2,224.75 9 DA X Index 13,919.23 8,255.65 173.19 1.26 66.88 16.04 1.82 1.62 1,263.15 1,553.55

10 IB EX Index 10,100.20 5,814.50 276.60 3.43 # N/A N/A 19.54 1.36 1.27 548.05 674.04

11 FTSEM IB Index 25,483.05 14,153.09 501.42 2.26 58.07 14.65 1.22 1.15 527.07 648.24 12 A EX Index 641.25 389.60 14.55 2.33 155.06 20.10 s 1.91 935.41 1,150.46 13 SM I Index 11,270.00 7,650.23 43.57 0.41 25.08 17.85 2.95 2.74 1,264.24 1,435.17 14 A S51 Index 7,197.20 4,402.50 101.50 1.54 44.24 21.16 2.21 2.16 2,102.53 1,639.13 15 A S30 Index 7,289.70 4,429.10 110.39 1.61 47.88 21.54 2.23 2.09 2,334.14 1,819.70 16 SHSZ300 Index 5,433.47 3,503.19 206.38 3.96 20.80 16.18 2.47 2.14 45,060.72 6,972.21 17 SHA SHR Index 3,728.30 2,773.54 81.61 2.24 18.64 13.67 1.69 1.50 43,294.33 6,698.90 18 SZA SHR Index 2,552.04 1,624.49 96.50 3.96 52.49 23.82 3.43 3.63 35,430.33 5,482.11 19 HSI Index 29,174.92 21,139.26 461.17 1.69 15.74 12.48 1.20 1.17 26,792.00 3,455.47 20 HSCEI Index 11,502.47 8,290.34 161.43 1.50 10.91 9.60 1.21 1.11 25,159.46 3,244.92 21 SENSEX Index 48,616.66 25,638.90 422.73 0.89 33.89 29.39 3.28 3.46 92,715.81 1,267.50 22 NIFTY Index 14,244.15 7,511.10 164.50 1.18 35.19 28.71 3.15 3.25 110,297.24 1,507.85 23 JCI Index 6,348.53 3,911.72 86.61 1.45 28.41 17.51 1.60 1.99 7,008,107.73 503.64 24 LQ45 Index 1,036.62 566.05 10.79 1.15 19.70 16.65 2.26 2.08 4,324,759.64 310.80 25 KSE100 Index 45,194.63 27,046.71 1,398.04 3.20 10.69 7.34 1.28 1.10 6,675.21 41.60 26 NKY Index 27,602.52 16,358.19 (388.23) (1.41) 37.92 24.00 2.05 2.01 393,024.66 3,808.01 27 NEY Index 382.46 249.78 (2.64) (0.70) 33.00 23.72 1.38 1.38 472,755.00 4,580.52 28 TP X Index 1,819.46 1,199.25 (8.50) (0.47) 31.32 22.25 1.28 1.31 669,222.36 6,484.08 29 FB M KLCI Index 1,695.96 1,207.80 (35.24) (2.17) 22.61 13.88 1.65 1.53 1,032.54 256.69 30 NZSE Index 2,226.03 1,356.73 62.34 2.89 53.24 37.17 2.67 2.80 188.28 137.30 31 P COM P Index 7,840.70 4,039.15 (91.86) (1.29) 28.06 19.34 1.75 1.62 8,940.15 185.81 32 FSSTI Index 3,283.89 2,208.42 19.20 0.68 23.31 15.27 1.00 0.98 513.47 389.35 33 KOSP I Index 3,027.16 1,439.43 94.74 3.30 34.11 14.42 1.14 1.17 1,962,963.33 1,806.54 34 TWSE Index 15,197.68 8,523.63 250.60 1.70 22.85 17.50 2.20 2.24 45,392.18 1,622.37 35 SET Index 1,604.28 969.08 43.01 2.97 25.57 19.62 1.67 1.64 16,534.15 552.52 36 SET50 Index 1,084.23 628.97 29.96 3.29 26.88 21.81 1.93 1.78 11,321.08 378.32 37 VNINDEX Index 1,152.85 649.10 39.34 3.56 19.08 15.26 2.47 2.29 4,227,082.26 183.05 A s ia / P a c if ic A m e ric a 5 2 - WE E K C H A N G E Y T D P E R ( x) P B V ( x) M A R KE T C A P ( B n) E uro pe

H IG H LO W P O IN T % T ra iling F o rwa rd T ra iling F o rwa rd D o m a in

LQ45

LQ45 Index

HIGH LOW POINT % 2020 2021E 2020 2021E

1 ACES IJ 1,730 1,850 970 15 0.87 29.19 37.31 6.05 5.72 29,669.50 2 ADRO IJ 1,375 1,600 610 (55) (3.85) 30.28 12.35 0.89 0.81 43,980.70 3 AKRA IJ 3,180 3,700 1,405 0 0.00 15.50 15.34 1.47 1.42 12,766.73 4 ANTM IJ 2,220 2,340 338 285 14.73 99.27 52.27 2.46 2.97 53,348.30 5 ASII IJ 6,150 7,250 3,220 125 2.07 12.27 17.11 1.58 1.61 248,973.85 6 BBCA IJ 34,725 35,450 21,625 875 2.58 30.15 34.63 4.66 4.69 856,145.22 7 BBNI IJ 6,400 7,950 2,970 225 3.64 14.90 30.25 1.04 1.10 119,351.40 8 BBRI IJ 4,200 4,760 2,160 30 0.72 21.55 26.29 2.66 2.67 518,052.40 9 BBTN IJ 1,805 2,180 720 80 4.64 34.74 14.39 1.04 1.07 19,114.95 10 BMRI IJ 6,425 8,050 3,660 100 1.58 13.88 17.54 1.59 1.60 299,833.33 11 BSDE IJ 1,235 1,340 585 10 0.82 25.87 27.04 0.86 0.81 26,146.64 12 BTPS IJ 3,810 5,125 1,790 60 1.60 31.06 32.30 5.21 4.94 29,351.10 13 CPIN IJ 6,425 7,450 3,800 (100) (1.53) 31.97 35.47 4.86 4.68 105,357.15 14 CTRA IJ 1,015 1,085 394 30 3.05 18.47 27.94 1.24 1.16 18,838.71 15 ERAA IJ 2,300 2,450 805 100 4.55 16.53 16.44 1.37 1.38 7,337.00 16 EXCL IJ 2,740 3,390 1,315 10 0.37 12.75 17.16 1.39 1.40 29,334.47 17 GGRM IJ 40,350 59,075 30,625 (650) (1.59) 8.50 9.60 1.39 1.32 77,636.95 18 HMSP IJ 1,480 2,350 1,085 (25) (1.66) 16.70 17.86 6.11 5.12 172,150.75 19 ICBP IJ 9,425 11,900 7,750 (150) (1.57) 21.83 19.31 4.14 3.85 109,913.48 20 INCO IJ 5,800 5,900 1,340 700 13.73 27.00 41.68 1.79 2.05 57,630.76 21 INDF IJ 6,750 8,300 5,000 (100) (1.46) 11.72 10.67 1.52 1.54 59,267.88 22 INKP IJ 10,800 11,275 3,020 375 3.60 12.55 12.13 0.95 0.98 59,086.62 23 INTP IJ 14,100 19,200 8,650 (375) (2.59) 30.00 33.35 2.38 2.27 51,905.37 24 ITMG IJ 13,125 15,700 5,650 (725) (5.23) 15.88 16.26 1.24 1.31 14,830.27 25 JPFA IJ 1,495 1,730 760 30 2.05 17.60 33.38 1.60 1.58 17,531.23 26 JSMR IJ 4,350 5,275 2,230 (280) (6.05) 38.96 54.86 1.78 1.62 31,571.74 27 KLBF IJ 1,500 1,695 830 20 1.35 26.49 26.13 4.07 4.01 70,312.68 28 MDKA IJ 2,650 2,900 890 220 9.05 60.85 95.22 6.97 7.95 58,028.62 29 MIKA IJ 2,660 3,080 1,570 (70) (2.56) 52.55 52.35 8.65 7.73 37,895.29 30 MNCN IJ 1,210 1,780 695 70 6.14 7.30 8.67 1.09 1.18 18,210.24

31 PGAS IJ 1,560 2,140 605 (95) (5.74) #N/A N/A 28.03 1.13 1.02 37,816.75 32 PTBA IJ 2,680 3,180 1,385 (130) (4.63) 11.81 12.73 1.91 1.71 30,875.37 33 PTPP IJ 1,900 1,970 484 35 1.88 28.11 80.06 1.06 0.98 11,779.80 34 PWON IJ 510 610 266 0 0.00 20.99 22.00 1.71 1.59 24,561.40 35 SCMA IJ 2,420 2,480 600 130 5.68 33.92 30.23 6.40 6.33 35,765.40 36 SMGR IJ 12,025 13,250 5,475 (400) (3.22) 27.94 32.11 2.19 2.08 71,326.53 37 SMRA IJ 800 1,045 350 (5) (0.62) 61.72 96.99 1.63 1.56 11,541.43 38 SRIL IJ 266 304 113 4 1.53 4.26 #N/A 0.58 NA 5,440.28 39 TBIG IJ 1,615 1,820 730 (15) (0.92) 35.61 33.48 5.89 6.02 36,591.05 40 TKIM IJ 10,550 11,500 3,750 700 7.11 11.98 12.23 1.41 NA 32,844.51 41 TLKM IJ 3,370 3,976 2,417 60 1.81 17.37 16.22 3.22 3.02 333,839.67 42 TOWR IJ 965 1,180 575 5 0.52 18.14 17.98 4.97 4.80 49,229.11 43 UNTR IJ 25,800 28,475 12,000 (800) (3.01) 12.38 13.95 1.63 1.56 96,237.49 44 UNVR IJ 7,200 8,800 5,275 (150) (2.04) 38.26 37.15 43.23 50.38 274,680.00 45 _{WIKA IJ} 2,080 2,200 675 95 4.79 18.15 67.68 1.32 1.26 18,657.50 MARKET CAP (Bn) LQ45 Index 6-Jan-21 52-WEEK CHANGE YTD PER (x) PBV (x)

Macro data

Source: Bloomberg, Sinarmas Investment Research

D escriptio n 1-D ay (%) 5-D ays (%) 1-M o nth (%) YT D (%) Property (0.23) (1.09) 4.12 1.07 Basic Industry (0.65) (1.98) (0.18) 1.77 Trade (0.90) (0.02) 7.60 0.89 Finance (1.31) 0.06 1.85 1.81 M iscellaneous Industry (0.64) 0.52 5.35 1.57 Consumer (1.29) (1.17) (4.38) (0.17) Infrastructure (2.09) (2.03) 2.91 0.81 Agriculture (0.90) 5.62 15.10 5.84 M ining (1.18) 1.26 10.81 3.83 D ec-20 N o v-20 1.68 1.00 1.68 1.59 0.45 0.28 133.60 133.66 F OR EX Spo t R ate 1-D ay (%) 1-M o nth (%) YT D (%) USD/IDR 13,895.00 - 1.51 1.12 USD/CNY 6.46 (0.11) 1.03 0.99 USD/EUR 0.81 (0.11) (1.86) (1.00) USD/JPY 103.04 0.00 0.98 0.20 USD/SGD 1.32 0.04 1.46 0.36 USD/AUD 1.28 (0.16) (5.08) (1.58) USD/GBP 0.73 (0.11) (1.78) 0.30 (in %) 4.35 0.07 1.46 5.15 5.96 6.37 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) Inflation M oM (in %) Foreign Reserves (in USD bn)

Secto rs

Eco no mic Indicato rs

Inflation YTD (in %)

Eco no mic P arameters

Inflation YoY (in %)

Technical Corner

JCI : MIXED MENGUAT

Last price

: 6.065

Support

: 6.046, 5.976

Resistance

: 6.120, 6.152

JCI pada hari ini kami perkirakan akan bergerak MIXED MENGUAT dengan range 6.046 – 6.120. JCI tidak

berhasil bertahan diatas Resistance 6.078, berpeluang menguji Support 6.046 dan 5.976. Namun, bila JCI

bertahan diatas Resistance 6.078 akan mencoba Resistance 6.120 dan 6.152. Indikator MACD mengindikasikan

pola Downtrend dan Stoc osc mengindikasikan pola Uptrend.

Jakarta Composite Index (JCI)

Summary of portfolio:

Stock

Recommendation

Comment

SMGR

REDUCE

SMGR break Support 11.800 sebagai Level Stop Loss, SMGR berpeluang

melanjutkan pelemahan dengan menguji Support 11.600 dan 11.450. Namun,

bila SMGR bertahan diatas Resistance 12.000, akan mencoba Resistance

12.200 dan 12.350.

PWON

HOLD

PWON tidak berhasil bertahan diatas Resistance 525, berpeluang menguji

Support 505 dan 496. Namun, bila PWON berhasil breakout Resistance 525,

berpeluang melanjutkan penguatan dengan mencoba Resistance 545 dan 560.

LSIP

HOLD

LSIP bertahan pada Support 1.400, berpeluang mencoba Resistance 1.440 dan

1.470. Namun, bila LSIP breakdown Support 1.400, akan melanjutkan

pelemahan dengan menguji next Support 1,385 dan 1,365.

PGAS

HOLD

PGAS breakdown Support 1,580 dan berpeluang melanjutkan pelemahan

dengan menguji Support 1.555 dan 1.520. Namun, Bila PGAS bertahan diatas

1.580, akan mencoba Resistance 1,630 dan 1.670.

Semen Indonesia (Persero)Tbk (SMGR)

Pakuwon Jati Tbk (PWON)

www.sinarmassekuritas.co.id

See important disclaimer at the end of this report

SMGR : REDUCE

Last price

: 12.025

Stop Loss

: 11.800 (-5%)

SMGR break Support 11.800 sebagai Level Stop Loss, SMGR berpeluang melanjutkan pelemahan dengan menguji

Support 11.600 dan 11.450. Namun, bila SMGR bertahan diatas Resistance 12.000, akan mencoba Resistance 12.200

dan 12.350. SMGR dilihat dari Indikator MACD dan Stoc osc mengindikasikan pola Downtrend.

PWON : HOLD

Last price

: 510

Target price

: 560 (11%)

Stop loss

: 485 (-4%)

PWON tidak berhasil bertahan diatas Resistance 525, berpeluang menguji Support 505 dan 496. Namun, bila PWON

berhasil breakout Resistance 525, berpeluang melanjutkan penguatan dengan mencoba Resistance 545 dan 560.

PWON dilihat dari Indikator MACD mengindikasikan pola Downtrend dan Stoc osc mengindikasikan pola Reversal.

Support

: 11.600, 11.450

Resistance

: 12.200, 12.350

Support

: 505, 496

Resistance

: 525, 545

LSIP : HOLD

Last price

: 1,400

Target price

: 1,500 (10%)

Stop loss

: 1,305 (-4%)

LSIP bertahan pada Support 1.400, berpeluang mencoba Resistance 1.440 dan 1.470. Namun, bila LSIP breakdown

Support 1.400, akan melanjutkan pelemahan dengan menguji next Support 1,385 dan 1,365. LSIP dilihat dari

Indikator MACD mengindikasikan pola Uptrend dan Stoc osc membentuk Pola Overbought.

PGAS : HOLD

Last price

: 1,560

Target price

: 1,650 (10%)

Stop loss

: 1,420 (-5%)

PGAS breakdown Support 1,580 dan berpeluang melanjutkan pelemahan dengan menguji Support 1.555 dan 1.520.

Namun, Bila PGAS bertahan diatas 1.580, akan mencoba Resistance 1,630 dan 1.670. PGAS dllihat dari Indikator

MACD dan Stoc osc mengindikasikan pola Downtrend.

Support

: 1,385, 1,365

Resistance

: 1,440, 1,470

Support

: 1,555, 1,520

Resistance

: 1,630, 1,670

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Richard Suherman

Commodities

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DEPUTY HEAD OF RESEARCH

Richardson Raymond

Property, Industrial Estate

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EQUITY ANALYST

Paulina

Consumer, Retail, Cement

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RESEARCH ASSOCIATE

Andrianto Saputra

Tobacco, Plantation

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RESEARCH ASSOCIATE

Kharel Devin Fielim

Media, Poultry, Construction

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kharel.fielim@sinarmassekuritas.co.id

TECHNICAL ANALYST

Eddy Wijaya

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eddy.wijaya@sinarmassekuritas.co.id

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