trim daily - trimegah.com · index movers were mostly driven by agriculture, property and finance....

TRIM DAILY PT Trimegah Securities Tbk - www.trimegah.com 1

Bank Indonesia will introduce restrictions on foreign exchange transactions in

a move to shore up the Rupiah, reducing FX swap auction from 2x a week to

1x a week with fixed rate. IDR opens at Rp13,914 on the dollar today. GIIAS,

Gaikindo Autoshow has opened yesterday, transaction value at the end of

exhibit should be a good proxy for economic cycle.

TRIM Daily

TRIM Highlights

Aug 21, 2015

Jakarta Composite Index (JCI) down by 42 point or 0.9% to 4442 yesterday.

Index movers were mostly driven by agriculture, property and finance. Total

transaction value was Rp6.3tr. IDX recorded Rp2.6bn net sell by foreign

investors (PLIN 2.26tr). Today, JCI is expected to continue its weakening

within the support and resistance levels of 4365-4511

Technical Market View

The dollar continue strengthening on expectation of U.S interest rate hike in

September. Initial jobless claims relatively stable at 277k Vs 273k in the

previous week while home sales increase 2% MoM in July above -1.1% con-

sensus expectation.

Global Wrap

Technical analysis: trading picks

JCI 4,441.9

Global Indices

Dual Listing (NYSE)

Others

(USD) (Rp) Chg %

40.6 14,093 -0.86 -2.1TLKM

Change -0.94%

Transaction Volume (m) 5,889

Transaction Value (Rpbn) 6,315

Mkt Cap (Rptr) 4,545

Market 2015 P/E (x) 11.9

Market Div. Yield (%) 2.4%

Price Chg %

Dow Jones 16,990.7 -358.0 -2.1

Nasdaq 4,877.5 -141.6 -2.8

Nikkei 20,033.5 -189.1 -0.9

ST Times 3,009.8 -31.5 -1.0

FTSE 6,367.9 -35.6 -0.6

Hang Seng 22,757.5 -410 -1.8

Chg %

USD IDR 13,885 42 0.3

10 yr Indo Govt bond (%) 8.83 0.2 2.3

10 yr US govt bond (%) 2.1 -0.06 -2.7

Spread (%) 6.76 0.26 5.0

EIDO 19.8 -0.3 -1.5

Foreign YtD (USDmn) (1,720) -186 12

Stock Price Rating Reason

PGAS 3335 Buy

In the short term, PGAS has the oppor-

tunity for a technical rebound with today’s trading range at 3200-3450.

ASII 6200 Buy ASII formed a bullish engulfing, for today ASII potentially to continued move up in the range of 6050-6350.

UNTR 18900 Buy UNTR remains strong with potential upside in the range of 17800-19800 for today

GGRM 46750 Buy In the short term, GGRM has the oppor-tunity for a technical rebound with today’s trading range at 46150-47500

TLKM 2870 Sell

TLKM remains in a long term bullish pat-tern. However, it forms a short term down-trend channel. We expect TLKM to remain on the down-trend and would weak within the range of 2780-2980

BMRI 8700 Sell

Despite its long term bullish pattern, BMRI is a Sell as we believe it would form a short term bearish pattern. Today’s range is 8450-8875. Buy BMRI at level 8450

PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 2

News of the Day

Govt sees light at the end of tunnel amid plunging car sales

Jusuf Kalla, VP of Indonesia, said that Gaikindo International Motor Show (GIIAS) held on 20-30 August reflects eco-

nomic growth and 4W slump is not permanent and eventually will improve in the next 1-2 years. Gaikindo chairman,

Sudirman Rusdi, said the business group expects FY15 4W sales to reach 950,000 (-21.4% YoY) compared to previous

target of 1.1m units. Right now in August, sales are getting weaker on a MoM basis.

Comment:

The FY15 4W target is achievable in our view. We made a simulation of 4W monthly sales in 2H15 to have a feel of

what numbers need to be produced to reach the FY15 target.

Willinoy Sitorus

([email protected])

BI introduce stricter restrictions on forex transactions

Amid continuous IDR weakening towards USD with yesterday almost hit the IDR14,000 level, BI has introduced recently

stricter restrictions on forex transactions. For every USD purchase above USD25,000/customer per month, forex buyers

are now required to explain the reasons for the transactions and produce a tax card (NPWP). The limit was previously

set at USD100,000. Also, BI has set a fixed rate, instead of variable rate for the auctions of several BI debt papers to

encourage investments in longer-term instruments. BI has also decided to temporarily impose a fixed rate tender and

extend the maturity periods for its instruments that include domestic treasury notes (SBN) reverse repo, BI deposit

certificates (SDBI), BI certificates (SBI) and forex term deposits. Below are the key points of BI’s measures to prop up

IDR. Source: The Jakarta Post ([email protected])

No Measures

1 Carry out interven�ons in FX market to manage IDR vola�lity

2 Purchase domes�c treasury notes (SBN) in the secondary market

3 Carry out open market opera�on, aimed to shi& daily liquidity to longer term by:

A. Changing the auc�on mechanism of SBN reverse repo to fixed rate tender from variable rate tender,

adjus�ng the pricing of SBN reverse repo, and extending the maturity period up to 3 months

B. Changing the auc�on mechanism of BI deposit cer�ficate (SDBI)

4 Adjust the frequency of FX swap to once a wekk from twice a week

5 Change the auc�on mechanism of FX term deposit (TD) to fixed rate tender

from variable rate tender, adjust its pricing and extend the maturity period up to 3 months

6 Lower the maximum limit of USD purchase without underlying to reasons

USD25,000 per customer per month from USD100,000 per customer per month

7 Coordinate with the government and other central banks to strengthen the FX reserves

Source: The Jakarta Post

Source: Gaikindo, TRIM research

Monthly 4W sales simulation


News of the Day

Banks: BI expects banks to reduce funds place-

ments in the overnight instruments

This will be done through monetary policy optimization,

i.e., open market operations, changing auction mecha-

nism of reverse repo, SBI, and deposit facility. Currently,

total overnight placements in BI is 42% of Rp225tr total

banks placements in BI. Source: Investor Daily

([email protected])

South Korean Shinhan Card Co Ltd acquires Salim

Group’s financing company

The South Korean company will acquire the majority

stake (50%) of PT Swadharma Indotama Finance (SIF)

for KRW 10bn (~USD 8.4mn). The acquisition itself is

part of the company’s strategy to expand in emerging

market countries. Source: Investor Daily

([email protected])

E-commerce: Govt assert SNI requirement

Gov’t asserts the e-commerce players to follow current

applicable regulation consisting of use of Indonesian

National Standardization or “SNI” (118 products), user

manual in Indonesian language (74 products), and label-

ing in Indonesian language (145 products). Meanwhile,

based on e-commerce Gov’t regulation plan (RPP), the

Gov’t intends to create requirement for the e-commerce

players to be registered to Ministerial of Trade and get

identity number. The identity number will support easier

supervision by Gov’t and avoid fraud possibility. Source:

Bisnis Indonesia ([email protected])

BBTN: Ministry of Public Works and Housing pre-

pares Rp9.3tr FLPP budget for 2016

In addition, the ministry also proposes Rp900bn of inter-

est subsidy in 2016. However, the budgeted funds will be

used only after the FLPP budget is fully utilized. Moreo-

ver, the ministry also budgeted Rp137bn interest subsidy

for 2015 as FLPP budget will be fully utilized by the end of

Aug 2015. Source: Investor Daily

Comment:

This reflects the optimism toward the public housing

program, and also positive for BBTN since we do not see

any supply-side problems. The 2016 FLPP budget implies

~1% additional loan growth and sufficient to cover the

financing of ~93k units of public houses (assuming a

public house is averagely priced at Rp100mn). Moreover,

our calculation suggests that the Rp137bn interest subsi-

dy is also sufficient to cover additional Rp1.4tr subsidized

mortgage loans disbursement this year. It is expected to

cover 10% of cost of funds (assuming new loans is fi-

nanced by bonds with ~10% CoF) in order to maintain

~5% NIM from subsidized mortgage segment. Bottom

line, this news is positive for BBTN. We have a Buy with

Rp1,300 TP. ([email protected])

Ministry of Public Works to limit big construction

SOEs to take small projects

Construction SOE companies such as WIKA, WSKT, and

PTPP will not be allowed to take projects less than Rp50bn.

Source: Kontan

Comment:

we see small impact as these companies tend to focus on

minimum of Rp150bn projects.

Cigarette industry: excise tariff to increase by 7% in

FY16

General director of excise and customs stated that ciga-

rette excise tariff may increase by 7% in FY16, in order to

fulfill excise tax revenue target of Rp156tr. In the FY16

State Budget, the Government aimed to get Rp1,524tr tax

revenue, of which Rp156tr will come from excise tax reve-

nue (vs Rp146tr FY15 State Budget). However, The minis-

try of finance predicts that FY15 excise revenue realization

will only be at 95-98%, translating to 12% increase for

FY16 excise target. Source: Bisnis Indonesia

ATIC: Anabatic Technologies to expand to Philippine

After conducting acquisitions in Chennai, Bangalore, India,

ATIC officially opens an office in Philippine. The office will

focus on offering banking IT services and core banking

system. Source: Kontan ([email protected])

RIMO: RIMO failed to conduct EGM for the 4th time

Company intended to hold an EGM on Thursday 20 August

but the EGM is delayed again until next week. OJK has not

approved the deal as RIMO has yet to fulfill its legal docu-

ments. Source: Kontan ([email protected])

SMRA: to IPO subsidiary in end of 2015 or early 2016

SMRA intends to IPO Summarecon Investment Property, a

subsidiary. SMRA management wants to raise US$200mn

for 20% stake. Company has appointed Deutsche Bank as

underwriter. SMRA will also launch a bond deal to raise

money for Bandung project. Source: Kontan

([email protected])

BIRD: to introduce Mobilio fleet

Bluebird officially launched 300 taxis using Honda Mobilio

to carry more passenger. Source: Kontan

([email protected])


News of the Day

EXCL: Optimist to launch 4G LTE in 4 big cities by

end of 2015

To prepare 4G LTE service in 4 big cities (Surabaya,

Denpasar, Bandung, and Greater Jakarta), ELCL already

invested Rp6.5tr and optimist to launch the service by

end of 2015. The company said all of EXCL’ subscribers

already can switch its 3G SIM card to new 4G LTE SIM

card for free. Source: Bisnis Indonesia

([email protected])

Comment:

According to industry players, a 7% increase in excise

tax is still inline with the expectation. However, it will

slightly affect the sales volume and companies’ margin.

For GGRM, we have factored a 15% excise tax hike for

FY16. We have a BUY recommendation for GGRM with TP

Rp52.800 (+13% upside). GGRM is currently trading at

18x FY15-16 PE.

WIKA: Company announced new contract achieve-

ment of Rp11.36tn year to July

65% of the contract comes from Private. Month on

Month, WIKA managed to secure Rp960bn new contract

on July. This represents 37% of company's guidance of

R p 3 0 . 4 t n . S o u r c e : K o n t a n

([email protected])


Table

Indo Market PE vs Regional (Weekly)

Indo Market PE vs 10yr Bond Yield

Oil Price (Brent), Coal Price (Newcastle), Gold

Foreign Fund Flow in last 5 & 30 days

5yr Bond Yield Indo (USD) vs US Bond Yield

CPO Price, Soybean Price (both 1m Futures)

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

22.0

2010

2010

2011

2012

2013

2014

2015

(x)

Weekly Hang Seng Singapore Thailand Philippines Malaysia Indonesia

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

Aug-14

Sep-1

4

Sep-1

4

Oct-

14

Oct-

14

Oct-

14

Nov-1

4

Nov-1

4

Dec-14

Dec-14

Jan-15

Jan-15

Feb-15

Feb-15

Mar-

15

Mar-

15

Apr-

15

Apr-

15

Apr-

15

May-15

May-15

Jun-1

5

Jun-1

5

Jul-

15

Jul-

15

Aug-15

Aug-15

(%) Bond Yield US Ind 5yr Bond Yield Indo in USD

-316

-65

-740

-468

-16 -12

-615

-230

-2,334

-1,080

16

-397

(2,500)

(2,000)

(1,500)

(1,000)

(500)

0

500

IND

ON

ESIA

PH

ILIP

PIN

ES

SO

UTH

KO

REA

TH

AIL

AN

D

VIE

TN

AM

IND

IA

(USDmn) 5 Days 30 Days

500

700

900

1,100

1,300

1,500

40

50

60

70

80

90

100

110

Aug-14

Sep-1

4

Oct-

14

Oct-

14

Nov-1

4

Dec-14

Dec-14

Jan-15

Feb-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

Jul-

15

Aug-15

(USD/ Troy oz.)(USD)

Brent Crude Oil (bbl) (LHS) Coal (mt) (LHS) Gold (RHS)

500

700

900

1,100

1,300

1,500

1,700

-

500

1,000

1,500

2,000

2,500

3,000

Aug-14

Sep-1

4

Oct-

14

Nov-1

4

Dec-14

Jan-15

Feb-15

Mar-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

(USD Bushels)(MYR Tons)

CPO Malaysia (LHS) Soybean (RHS)

6.0

6.5

7.0

7.5

8.0

8.5

9.0

12.0

12.5

13.0

13.5

14.0

14.5

15.0

15.5

16.0

Aug-

14

Sep-

14

Oct-

14

Nov-

14

Dec-

14

Jan-

15

Feb-

15

Mar-

15

Apr-

15

May-

15

Jun-

15

Jul-

15

Aug-

15

(%)(X) JCI PE (LHS) Indo 10Yr Bond Yield (RHS)


Table

INCO, ANTM vs Nickel price (LME)

Coal Price (Newcastle) vs Coal Sector

TINS vs Tin price (LME)

ANTM vs Gold price

CPO Price (1m Futures in Malaysia) vs CPO Sector

GIAA vs Brent Crude Oil

150

175

200

225

250

275

50

55

60

65

70

75

Aug-14

Sep-1

4

Oct-

14

Nov-1

4

Dec-14

Jan-15

Feb-15

Mar-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

(USD/MT)Coal (LHS) COAL Sector (RHS)

50

55

60

65

70

75

80

85

1,500

1,600

1,700

1,800

1,900

2,000

2,100

2,200

2,300

2,400

2,500

Aug-14

Sep-1

4

Oct-

14

Oct-

14

Nov-1

4

Dec-14

Dec-14

Jan-15

Feb-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

Jul-

15

Aug-15

(MYR / Ton)

CPO Malaysia (LHS) CPO Sector (RHS)

-

5,000

10,000

15,000

20,000

25,000

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

Aug-14

Sep-1

4

Oct-

14

Oct-

14

Nov-1

4

Dec-14

Dec-14

Jan-15

Feb-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

Jul-

15

Aug-15

(USD /MT)(Rp)

INCO (LHS) ANTM (LHS) Nickel LME (RHS)

500

600

700

800

900

1,000

1,100

1,200

1,300

1,400

500

600

700

800

900

1,000

1,100

1,200

1,300

Aug-14

Sep-1

4

Oct-

14

Oct-

14

Nov-1

4

Dec-14

Dec-14

Jan-15

Feb-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

Jul-

15

Aug-15

(USD troy oz.)(Rp) ANTM (LHS) Gold (RHS)

-

5,000

10,000

15,000

20,000

25,000

0

200

400

600

800

1,000

1,200

1,400

1,600

Aug-14

Sep-1

4

Oct-

14

Oct-

14

Nov-1

4

Dec-14

Dec-14

Jan-15

Feb-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

Jul-

15

Aug-15

(USD/MT)(Rp) TINS (LHS) Tin LME (RHS)

40

50

60

70

80

90

100

110

300

350

400

450

500

550

600

650

700

Aug-14

Sep-1

4

Oct-

14

Oct-

14

Nov-1

4

Dec-14

Dec-14

Jan-15

Feb-15

Feb-15

Mar-

15

Apr-

15

Apr-

15

May-15

Jun-1

5

Jul-

15

Jul-

15

Aug-15

(USD bbl)(Rp)

GIAA (LHS) Crude Oil Brent (RHS)


World Economic Calendar

Date Time Country Event Period Survey Actual Prior

8/13/2015 US Monthly Budget Statement (USD bn) Jul -140 -149.2 -94.6

US Retail Sales Advance MoM (%) Jul 0.6 0.6 -0.3

US Retail Sales Ex Auto MoM (%) Jul 0.4 0.4 -0.1

US Retail Sales Ex Auto and Gas (%) Jul 0.4 0.4 -0.2

US Import Price Index MoM (%) Jul -1.2 -0.9 -0.1

US Initial Jobless Claims (000's) 8-Aug 270 274.0 270

US Continuing Claims (000's) 1-Aug 2245 2,273.0 2,255

US Bloomberg Consumer Comfort 9-Aug -- 40.7 40.3

8/14/2015 US PPI Final Demand MoM (%) Jul 0.1 0.2 0.4

US PPI Ex Food and Energy MoM (%) Jul 0.1 0.3 0.3

US PPI Final Demand YoY (%) Jul -0.9 -0.8 -0.7

US PPI Ex Food and Energy YoY (%) Jul 0.5 0.6 0.8

US Industrial Production MoM (%) Jul 0.3 0.6 0.3

US Capacity Utilization (%) Jul 78.0 78.0 78.4

US U. of Mich. Sentiment Aug P 93.5 92.9 93.1

ID BoP Current Account Balance (USDmn) 2Q -5,375 -4,477 -3,848

EC GDP SA QoQ (%) 2Q A 0.4 0.3 0.4

EC GDP SA YoY (%) 2Q A 1.3 1.2 1.0

EC CPI MoM (%) Jul -0.6 -0.6 0.0

EC CPI YoY (%) Jul F 0.2 0.2 0.2

EC CPI Core YoY (%) Jul F 1.0 1.0 1.0

8/17/2015 US Empire Manufacturing Aug 4.5 -14.9 3.9

8/18/2015 US Net Long-term TIC Flows (USD bn) Jun -- 103 93

US Total Net TIC Flows (USD bn) Jun -- -110 115

US Housing Starts (000's) Jul 1180 1206 1174

US Building Permits (000's) Jul 1228 1119 1337

ID Exports YoY (%) Jul -8.75 -19.2 -12.8

ID Trade Balance (USDmn) Jul 601 1,332 477

ID Bank Indonesia Reference Rate (%) 18-Aug 7.5 7.5 7.5

8/19/2015 US MBA Mortgage Applications 14-Aug -- 3.6 0.1

US CPI MoM (%) Jul 0.2 0.1 0.3

US CPI Ex Food and Energy MoM (%) Jul 0.2 0.1 0.2

US CPI YoY (%) Jul 0.2 0.2 0.1

8/20/2015 US Initial Jobless Claims (000's) 15-Aug 271 277.0 274

US Continuing Claims (000's) 8-Aug 2265 2,254.0 2273

US Bloomberg Consumer Comfort 16-Aug -- 41.1 40.7

US Existing Home Sales (USD mn) Jul 5.4 5.6 5.5

US Philadelphia Fed Business Outlook Aug 6.5 8.3 5.7

US Leading Index (%) Jul 0.2 (0.2) 0.6

8/21/2015 US Markit US Manufacturing PMI Aug P 53.8 -- 53.8

EC Markit Eurozone Manufacturing PMI Aug P 52.2 -- 52.4

EC Markit Eurozone Services PMI Aug P 54 -- 54

EC Markit Eurozone Composite PMI Aug P 53.7 -- 53.9

EC Consumer Confidence Aug A -6.9 -- -7.1

8/24/2015 US Chicago Fed Nat Activity Index Jul -- -- 0.08

8/25/2015 US FHFA House Price Index MoM Jun 0.4 0.4

US Markit US Composite PMI Aug P -- -- 55.7

US Markit US Services PMI Aug P -- -- 55.7

US New Home Sales (000's) Jul 514 -- 482

US Consumer Confidence Index Aug 93 -- 90.9

US Richmond Fed Manufact. Index Aug 8 -- 13

8/27/2015 EC M3 Money Supply YoY Jul -- -- 5.0


Corporate Action

Code Price

Exercise Maturity Emiten Description

INVS-W 165 8-May-15 Inovisi Infracom WARAN SERI I INOVISI INFRACOM

SUGI-W 100 21-May-15 Sugih Energy WARAN SERI II SUGIH ENERGY

MCOR-W 200 10-Jul-15 Bank Windu Kentjana International WARAN SERI I BANK WINDU KENTJANA INTERNATIONAL

GAMA-W 105 16-Jul-15 Gading Development WARAN SERI I GADING DEVELOPMENT

SUPR-W 4800 28-Aug-15 Solusi Tunas Pratama WARAN SERI I SOLUSI TUNAS PRATAMA

NIRO-W 110 11-Sep-15 Nirvana Development WARAN SERI I NIRVANA DEVELOPMENT

BSIM-W 149 11-Dec-15 Bank Sinar Mas WARAN SERI I BANK SINAR MAS

Warrant


Statistics

-0.4

-1.6

-1.8

-2.1

-2.8

-3.3

-4.3

-5.1

-5.5

-5.7

UNVR

ICBP

BBRI

SMGR

KLBF

BBCA

LPKR

AALI

CPIN

BIRD25.0

19.5

7.5

6.0

3.6

2.6

1.9

1.6

0.6

0.4

HDTX

FAST

MEGA

ANJT

BNII

DNET

PNBN

UNTR

PGAS

ASII

315

247

189

170

165

138

119

117

78

68

- 200 400

BBCA

BBRI

BMRI

SIAP

TLKM

BBNI

SSMS

ASII

UNVR

SRIL

937

194

140

112

91

74

74

64

64

61

0 500 1,000

SIAP

SRIL

PWON

ENRG

META

TARA

SUGI

SIMA

SSMS

ASRI

8,546

5,898

4,991

4,674

4,457

4,218

3,222

3,122

3,038

3,016

SRIL

BBNI

BBRI

TLKM

BMRI

BBCA

KLBF

BOLT

SSMS

PTPP

JCI Winners (%) JCI Losers (%) JCI Value (Rpbn) JCI Volume (mn Lot) JCI Freq (x)

YTD (Rp) -15.02% 5,889

YTD (USD) 21.55% 6,315

Moving Avg 20day 4,697 4,545

Moving Avg 50day 4,833 11.9

Moving Avg 200day 5,154 2.4%

Indonesia & Sectors +/- (%)YTD (%)

MSCI Indonesia 5,148.8 -59.8 -1.1 -17.0

JII 588.0 -4.1 -0.7 -14.9

LQ45 747.9 -8.5 -1.1 -16.8

JAKFIN Index 638.1 -8.1 -1.3 -12.8

JAKINFR Index 946.0 -4.8 -0.5 -18.5

JAKMINE Index 897.7 -9.7 -1.1 -34.4

JAKCONS Index 2,013.9 -19.9 -1.0 -7.5

JAKTRAD Index 875.5 -5.8 -0.7 -0.3

JAKMIND Index 1,072.1 3.4 0.3 -18.0

JAKBIND Index 341.1 -5.0 -1.4 -37.3

JAKPROP Index 469.3 -7.2 -1.5 -10.6

JAKAGRI Index 1,697.7 -33.6 -1.9 -27.8

Commodities +/- (%)YTD (%)

CRB Index 194.7 0.9 0.47 -15.4

Oil & Gas

Brent Crude Oil (USD/bbl) 46.6 -0.5 -1.15 -18.6

Nymex Oil (USD/bbl) 41.1 0.3 0.83 -22.8

Natural Gas 2.8 0.0 1.44 -5.0

COAL (AUS Daily) 56.8 -0.2 -0.26 -8.4

Industrial Metals

Aluminum (USD/tonne) 1,562.3 19.0 1.23 -14.8

Nickel (USD/tonne) 10,405 -15 -0.14 -31.3

Tin (USD/tonne) 15,225 -125 -0.81 -21.5

Precious Metal

Gold (USD/t oz.) 1,152.8 25.2 2.23 -2.6

Silver (USD/t oz.) 15.5 0.3 2.23 -0.5

Soft Commodities

CPO (Malaysia - Rm/tonne) 1,936 -35.0 -1.78 -15.5

Rubber (JPY/kg) 1,422 15.1 1.07 -13.4

Corn (USD/bu.) 371 3.8 1.02 -6.5

Wheat (USD/bu.) 506 10.0 2.02 -14.2

Soybeans (USD/bu.) 922 18.0 1.99 -9.6

Volume (m)

Value (Rpbn)

Mkt Cap (Rptr)

Market 2015 P/E (x)

Market Div. Yield (%)

CPO (Malaysia - Rm/tonne)

Indices Region +/- (%) YT D (%)

MXWO MSCI Word 1,697.3 -28.76 -1.67 -0.73

SPX S&P 500 2,035.7 -43.88 -2.11 -1.13

US

16,990.7 -358.0 -2.06 -4.67

Nasdaq US 4,877.5 -141.56 -2.82 2.99

Europe

EURO 50 Europe 373.4 -7.87 -2.06 9.03

FTSE London 6,367.9 -35.56 -0.56 -3.02

DAX Jerman 10,432.2 -250.0 -2.34 6.39

CAC France 4,783.6 -100.55 -2.06 11.95

SMI Swiss 9,104.7 -146.89 -1.59 1.35

BRIC

BOVESPA Brazil 46,649.2 61 0.13 -6.72

MICEX Russia 1,695.6 21.71 1.30 21.41

SENSEX India 27,607.8 -323.8 -1.16 0.39

NIFTY India 8,372.8 -122.4 -1.44 1.09

SHCOMP China 3,664.3 -129.82 -3.42 13.28

SZCOMP China 2,155.5 -66.56 -3.00 52.31

Nikkei Japan 20,033.5 -189.1 -0.94 14.80

TPX Japan 1,623.9 -24.60 -1.49 15.37

HSI Hong kong 22,757.5 -410 -1.77 -3.59

KOSPI S.Korea 1,914.6 -24.83 -1.28 -0.05

TAIEX Taiwan 8,029.8 8.0 0.10 -13.73

FSSTI Singapore 3,009.8 -31.47 -1.03 -10.56

ASEAN

SET Thailand 1,372.5 -6.59 -0.48 -8.36

PCOMP Philipines 7,279.0 -65.8 -0.90 0.67

KLCI Malaysia 1,577.4 -5.03 -0.32 -10.44

VNINDEX Vietnam 566.7 -11.13 -1.93 3.87

Developed ASIA

Dow Jones Industrial

Kurs Region +/- (%) YT D (%)

USDEUR Euro 0.890 -0.010 -1.1 11.2

USDGBP UK 0.637 -0.000 -0.1 6.2

USDCHF Switzerland 0.959 -0.007 -0.7 -4.1

USDCAD Canada 1.309 -0.004 -0.3 9.1

USDAUD Australia 1.363 0.002 0.1 13.6

USDNZD New Zealand 1.508 -0.007 -0.5 16.0

USDJPY Japan 123.40 -0.400 -0.3 3.0

USDCNY China 6.39 (0.01) -0.1 3.1

USDHKD Hongkong 7.753 -0.001 -0.0 -0.6

USDSGD Singapore 1.403 -0.001 -0.0 7.9

Rupiah Indonesia 13,885 42.0 0.3 12.1

JCI 4,441.9 (42.3) -0.9%


Historical Technical Trading Ideas (1)

Ticker Last Technical Call 27-Jul-15 Chg (%) Recommendation

JCI 4,857 Weakening

4,771 -1.76% Correct

MNCN 1,945 Buy

2,050 5.40% Correct

BMTR 1,155 Buy

1,160 0.43% Correct

GGRM 51,000 Buy

50,000 -1.96% Incorrect

JSMR 5,900 Buy

5,650 -4.24% Incorrect

ICBP 12,425 Sell

12,200 -1.81% Correct

BBCA 13,725 Sell

13,450 -2.00% Correct


JCI 4,903 Profit taking

4,857 -0.94% Correct

PTPP 4,175 Buy


GGRM 53,650 Buy

51,000 -4.94% Incorrect

ASRI 535 Buy

515 -3.74% Incorrect

ADRO 595 Buy


ICBP 12,475 Sell

12,425 -0.40% Correct

MPPA 2,990 Sell

2,955 -1.17% Correct


JCI 4,907 Strenghtening


GGRM 52,000 Buy

53,650 3.17% Correct

UNTR 18,375 Buy

18,650 1.50% Correct

TLKM 2,865 Buy


PWON 440 Buy


ASRI 530 Buy

535 0.94% Correct

ADHI 2,760 Buy



JCI 4,870 Reebound

4,907 0.76% Correct

GGRM 49,550 Buy

52,000 4.94% Correct

TLKM 2,825 Buy

2,865 1.42% Correct

INCO 2,525 Buy


AALI 24,975 Buy

24,350 -2.50% Incorrect

ADHI 2,730 Buy

2,760 1.10% Correct

PTPP 4,010 Sell

4,040 0.75% Incorrect




PGAS 4,240 Buy


GGRM 49,000 Buy


BBNI 5,300 Buy


BBRI 10,500 Buy

10,125 -3.57% Incorrect

KLBF 1,695 Buy

1,695 0.00% Correct

ADHI 2,635 Sell






4,902 0.16% Correct

PGAS 4,085 Buy

4,240 3.79% Correct

BBCA 13,500 Buy

13,600 0.74% Correct

UNTR 19,200 Buy

19,300 0.52% Correct

ADHI 2,500 Buy

2,635 5.40% Correct

GGRM 47,600 Buy

49,000 2.94% Correct

INCO 2,490 Sell



JCI 4,859 Reebound

4,894 0.72% Correct

BWPT 407 Buy


ADRO 635 Buy


BBCA 13,300 Buy

13,500 1.50% Correct

BSDE 1,785 Buy

1,865 4.48% Correct

MPPA 3,050 Buy

3,085 1.15% Correct

SRIL 411 Sell

398 -3.16% Correct


JCI 4,838 Reebound

4,859 0.43% Correct

BBRI 10,300 Buy

10,475 1.70% Correct

BWPT 411 Buy


MPPA 2,860 Buy

3,050 6.64% Correct

LSIP 1,565 Buy

1,590 1.60% Correct

WIKA 2,985 Buy

3,095 3.69% Correct

ADHI 2,285 Buy

2,380 4.16% Correct


JCI 4,872 Weakening

4,838 -0.68% Correct

BSDE 1,720 Buy

1,720 0.00% Correct

TELE 950 Buy

950 0.00% Correct

TAXI 1,030 Buy


KLBF 1,655 Buy


BMRI 9,950 Sell

9,900 -0.50% Correct

JSMR 5,875 Sell

5,700 -2.98% Correct


JCI 4,906 Rebound


BBRI 10,475 Buy

10,225 -2.39% Incorrect

BBNI 5,550 Buy


SMRA 1,775 Buy


WSKT 1,720 Buy

1,775 3.20% Correct

PTPP 3,880 Buy

3,955 1.93% Correct

ASRI 565 Buy




JCI 4,917 Weakening

4,906 -0.22% Correct

AALI 25,825 Buy

25,950 0.48% Correct

LSIP 1,655 Buy


TLKM 2,930 Buy


ASRI 550 Buy

565 2.73% Correct

GJTL 860 Buy


ASII 7,000 Buy



JCI 4,983 Weakening

4,917 -1.33% Correct

AALI 25,500 Buy

25,825 1.27% Correct

LSIP 1,660 Buy


TLKM 2,930 Buy


ASRI 575 Buy


GJTL 850 Buy

860 1.18% Correct

ASII 7,050 Buy




4,983 0.77% Correct

LSIP 1,585 Buy


AALI 25,000 Buy

25,500 2.00% Correct

BBNI 5,575 Buy


BBRI 10,875 Buy

10,825 -0.46% Incorrect

PTPP 3,690 Buy


ANTM 675 Sell

675 0.00% Correct

Ticker Last Technical Call 2-Jun-15 Chg (%) Recommendation


5,214 0.00% Correct

LSIP 1,710 Buy

1,710 0.00% Correct

TLKM 2,845 Buy

2,845 0.00% Correct

KLBF 1,790 Buy


UNVR 43,200 Buy


GGRM 47,000 Sell


GIAA 485 Sell

485 0.00% Correct



4,904 -0.13% Correct

ASII 7,075 Buy

7,025 -0.71% Correct

TLKM 2,930 Buy

2,920 -0.34% Correct

GGRM 45,100 Buy

45,025 -0.17% Correct

BBNI 5,300 Buy

5,300 0.00% Correct

BBRI 10,350 Buy


PGAS 4,315 Sell





JCI 4,883 Reebond

4,911 0.58% Correct

ASII 6,875 Buy

7,075 2.91% Correct

AALI 22,650 Buy

22,950 1.32% Correct

BMRI 10,025 Buy

10,050 0.25% Correct

BBNI 5,250 Buy

5,300 0.95% Correct

ADHI 2,015 Spec Buy

2,020 0.25% Correct

PTPP 3,525 Spec Buy



JCI 4,883 Weakining


GGRM 43,800 Buy

43,800 2.91% Correct

UNTR 20,200 Buy

20,200 1.32% Correct

TLKM 2,905 Buy

2,905 0.25% Correct

ASRI 580 Buy

580 0.95% Correct

SSMS 1,850 Buy

1,850 0.25% Correct

AALI 22,650 Buy

22,650 -1.56% Incorrect




JSMR 5,650 Sell

5,550 -1.77% Correct

ERAA 600 Sell

595 -0.83% Correct

BWPT 418 Sell

418 0.00% Correct

BKSL 100 Buy

99 -1.00% Incorrect

BBNI 5,500 Buy


BBRI 10,300 Sell

10,200 -0.97% Correct


JCI 4,938 Correction

4,954 0.32% Correct

JSMR 5,650 Buy

5,650 0.00% Correct

ERAA 600 Buy

600 0.00% Correct

UNTR 20,325 Buy

20,225 -0.49% Incorrect

BWPT 419 Buy


BKSL 96 Buy

100 4.17% Correct

GGRM 45,950 Sell

45,300 -1.41% Correct



4,938 -0.44% Correct

ICBP 12,975 Buy

12,900 -0.58% Correct

BWPT 378 Buy

419 10.85% Correct

RALS 710 Buy

705 -0.70% Correct

AISA 1,805 Buy

1,815 0.55% Correct

MPPA 3,260 Buy

3,285 0.77% Correct

BBNI 5,600 Sell

5,575 -0.45% Correct


Research Team

Sebastian Tobing, CFA

Head of Research & Institutional Business

([email protected])

Gina Novrina Nasution, CSA

Technical Analyst

([email protected])

Paula Ruth

Equity Analyst

([email protected])

Angga Aditya Assaf

Equity Analyst

([email protected])

Willinoy Sitorus

Equity Analyst

([email protected])

M. Dian Octiana

Equity Analyst

([email protected])

Wisnu Budhiargo

Equity Analyst

([email protected])

Tim Alamsyah

Equity Analyst

([email protected])

Dini Agmivia Anggraeni

Fixed Income/Macro Analyst

([email protected])

Yeni Simanjuntak

On-the-ground Analyst

([email protected])

Rovandi

Research Associate

([email protected])

Institutional Sales Team

Daniel Dwi Seputro

Head of Institutional Equity Sales

([email protected])

Dewi Yusnita

Equity Institutional Sales

([email protected])

Meitawati


([email protected])

Fachruly Fiater


([email protected])

Henry Sidarta


([email protected])

Raditya Andyono


([email protected])

Nancy Pardede


([email protected])

Retail Sales Team

JAKARTA AREA

Nathanael Benny Prasetyo

Head of Retail ECM

([email protected])

Ariawan Anwar

Artha Graha, Jakarta

([email protected])

Windra Djulnaily

Pluit, Jakarta

([email protected])

Ferry Zabur

Kelapa Gading, Jakarta

([email protected])

Eddy Sumarli

Puri Kencana, Jakarta

([email protected])

Very Wijaya

BSD, Tangerang

([email protected])

SUMATERA

Juliana Effendy

Medan, Sumatera Utara

([email protected])

Tantie Rivi Watie

Pekanbaru, Riau

([email protected])

Nathanael Benny Prasetyo

Palembang, Sumatera Selatan

([email protected])

EAST INDONESIA

Sonny Muljadi

Surabaya, Jawa Timur

([email protected]

Ni Made Dwi Hapsari Wijayanti

Denpasar, Bali

([email protected])

Ivan Jaka Perdana

Malang, Jawa Timur

([email protected])

Arifin Pribadi

Makasar, Sulawesi Selatan

([email protected])

CENTRAL JAVA, AREA

Agus Bambang Suseno

Solo, Jawa Tengah

([email protected])

Mariana Kusuma Wati

Semarang, Jawa Tengah

[email protected])

WEST JAVA

Asep Saepudin

Bandung, Jawa Barat

([email protected])

Ariffianto

Cirebon, Jawa Barat

([email protected])

trim daily - trimegah.com · index movers were mostly driven by agriculture, property and finance....

Documents