JCI Indication
Bullish (Moderate)
Support /
Resistance: 6,335 – 6,418
Market Drivers:
More cuts not a guarantee
The Fed cut interest rates for the 1st time since 2008
- Signs of a global slowdown, simmering U.S.
trade tensions, a desire to boost too-low inflation
- Warn that this rate cut is not the beginning of a
long series of rate cuts
- Would stop shrinking its USD3.6 tn in bond holdings
starting Aug. 1, two months ahead of schedule
South Korea Trade Balance (July)
- Exports fell 11% (Y/Y), slightly better than the
11.3% drop predicted
- Semiconductor exports dropped 28.1%
- Imports declined 2.7% (Y/Y) compared to the 8.1%
(Y/Y) expected
Economic Calendar
- China: Caixin PMI (July)
- Hong Kong: Retail Sales (June)
CTRA
CTRA posted a net profit of IDR 296.44
billion from IDR 91.18 billion, up by around 69.24% from the end of June 2018.
Revenues also rose 12% from IDR 2.76 trillion to IDR 3.14 trillion. CTRA plans
to utilize four new projects, namely housing in Puri Semanan, a township
project in Sentul, apartment projects in Ciracas and a mixed-use project in
Driyorejo, Gresik.
BNBR
BNBR posted this year's net profit
attributable to the parent entity owners valued at IDR 222.68 billion, after
suffering a loss of IDR 1.06 trillion last year. Revenue was recorded at IDR
1.71 trillion, rose 7.54% from IDR 1.59 trillion 1H19 YoY. Improved financial
conditions addressed by restructuring debt and performed a cost education
program and massive operational efficiency in subsidiaries.
WEGE
WEGE recorded a net profit of IDR 182.38
billion, up 1.41% from IDR 179.85 billion in 1H19 YoY on the back of a revenue
increase of IDR 2.15 trillion. While the new contract reached IDR 1.77 trillion
or 14.79% of the new contract target of IDR 11.98 trillion. The company is
aiming for government hospital projects, state-owned hotels, privately owned
apartment projects, sport facilities and office buildings.
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,375
Target Price 1: 1,420
Target Price 2: 1,460
Stop Loss: 1,315
Stock: *PWON*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 705
Target Price 1: 720
Target Price 2: 735
Stop Loss: 690
Stock: *WTON*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Trade Buy : 585
Target Price 1: 610
Target Price 2: 645
Stop Loss: 565
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
