JCI Indication

Bearish (Moderate)

Support / Resistance: 6,352 – 6,411

Market Drivers:

Concerns that the U.S. could bring its tariff threat to Europe.

- The U.S. threatened to impose tariffs on USD 4 bn of additional EU goods

- In a 15-yr dispute at the WTO over aircraft subsidies

Japan Services PMI (June)

- Edged up to 51.9 from 51.7 in May

- The index stayed above the 50 threshold for the 33rd straight month

- Suggesting domestic demand remains resilient despite growing pressure on the export

Oil Prices

- Edged higher this morning after >4% fall overnight

- Extended output cuts by OPEC and its allies until March 2020 helped underpin prices

- Weak manufacturing data had investors worried that a slowing global economy could dent demand

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MARKET NEWS

SMDR

Throughout 2019 SMDR will invest USD 180 million in several sector which allocated to 44% for port, 42 % for shipping, 11 % for logistics and 3 % for property. SMDR also planned to participate in a tender for managing port "Patimban" in West Java.

MEDC

MEDC claimed ready to pay off three bonds worth total of IDR 1,12 trillion. The 10,8  % yield bonds will mature in the second half this year (2H19).

KRAS

KRAS is conducting restructuring program to rejuvenate the company's performance.  The programs includes sales of non-core assets, organizations downsizing, finding strategic business partners and corporate spin-offs.

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