JCI Indication

Bearish (Moderate)

Support / Resistance: 6,244 – 6,361

Market Drivers:

President Donald Trump

- More tariffs on Chinese goods will kick into place

- Should Chinese President Xi Jinping fail to attend the June 28-29 G20 summit in Osaka, Japan

- The Huawei dispute could be addressed as part of a trade deal with China.

- has repeatedly said he expected to meet Xi at the G20 summit although China is yet to confirm any such meeting

Oil Market

- Major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal

- U.S.-China trade tensions are continuing to threaten demand for the commodity

-------------------------------------------------

MARKET NEWS

PEHA

PEHA has a new cooperation contract with its affiliated company, namely PT Kimia Farma Tbk. This cooperation contract is in the form of distribution of pharmaceutical products.

TPIA

TPIA received a tax exemption facility from the Ministry of Finance (Ministry of Finance) for the investment of a new polyethylene plant worth USD 380 mn. The facility consists of two forms, namely the reduction of corporate income tax by 100% in the first ten years of commencement of production and a reduction of 50% in the following two years.

ICBP

ICBP will distribute the final dividend of 2018 for IDR 137 per share with a total of IDR 1.58 tn or (49.69% payout ratio).

PT Phillip Securities Indonesia
ANZ Tower Level 23B, JlJendSudirman
Kav. 33A Jakarta 10220 – Indonesia
Tel +62-21 5790 0800 Fax +62-21 5790 0809
Website: www.phillip.co.id