JCI Indication

Bearish (Moderate)

Support / Resistance: 5,887 – 6,029

Market Drivers:

U.S. - China Trade Tension

- The U.S. temporarily backed off on restrictions on Huawei

- By granting Huawei a license to buy U.S. goods until Aug. 19

  - To maintain existing networks and provide software updates to existing Huawei handsets

- Chinese President Xi Jinping signaled there would be no end to the trade war in the near future

Japan Economic Data

- Exports (April) fell 2.4% (Y/Y) for a fifth straight month

- Core Machinery Orders (March) rose 3.8% (M/M) but declined 0.7% (Y/Y)

Crude Oil Prices Fell

- KSA reiterated it would aim to keep the market balanced and try to reduce tensions in the Middle East

- A surprise increase in U.S. crude inventories.

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MARKET NEWS

SCMA

SCMA has acquired two digital companies and one venture capital with a total value of Rp. 360 bn originating from a private placement fund.

UNVR

UNVR expand the distribution is done through partnership with e-commerce in Indonesia is Tokopedia and Shopee for digitizing marketing.

WINS

WINS will issue new shares on a non-pre-emptive basis with 423 mn shares to be used for working capital, debt payments and business development.

BBKP

BBKP together with PT Berkah Samitra Mulya collaborated in distributing motorized vehicles to former Carkliik partner car showrooms. The financing partnership is planned to be carried out to finance 590 showrooms located in Jabodetabek.

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