JCI Indication
Bearish
Support /
Resistance: 6,301 – 6,373
Finiancial markets are on edge
- A sharp escalation in the Sino-U.S. trade war
- President Trump abruptly decided to slap 10% tariffs
USD300 bn in Chinese imports Trump is also eyeing tariffs on the EU though he
hasn’t said anything officially yet
- Expectations of further monetary policy easing
The final Japan Services PMI (July)
- Edged down to 51.8 from 51.9, staying >50 for the
34th month.
- Indicating resilient domestic demand despite signs
of a loss of momentum
- Concerns that the looming consumption tax hike could
impact demand. Japan is scheduled to raise its sales tax to 10% from 8% in
October
Economic Calendar for today
- China: Caixin Services PMI
- Indonesia: 2Q19 GDP
MEDC
MEDC will release ownership of the
assets of two oil and gas blocks abroad, namely Block 5 in Mexico with 23%
ownership, and 8 blocks in Tunisia with varied ownership. On April 23, 2019,
MEDC had sold a 100% shares to Medco Tunisia Petroleum Ltd. by controlling
block ownership rights in 8 working areas.
DOID
DOID optimizes the use of assets to
boost financial performance after being depressed in 1H19. The company
pocketed revenues of USD 435.5 million, growing 13.24% from USD 384.46 million
in 1H18. Net profit slipped 77.79% from USD 18.28 million to USD 4.06 million
in 1H19 YoY.
ROTI's net sales rose 24.37% to IDR 1.59
trillion, while net profit jumped 153.82% to IDR 101.45 billion in 1H19. This
is due to sales growth and stable operating costs. ROTI also add its production
capacity to 5 million breads per day along with the operating of 2 new
factories in Gresik and Balikpapan.
Short Term Trend: Downtrend
Medium Term Trend: Downtrend
Spec Buy : 1,055
Target Price 1: 1,090
Target Price 2: 1,115
Stop Loss: 1,020
Stock: *BSDE*
Short Term Trend: Sideways
Medium Term Trend: Downtrend
Spec Buy : 1,355
Target Price 1: 1,385
Target Price 2: 1,425
Stop Loss: 1,300
Stock: *WSBP*
Short Term Trend: Downtrend
Medium Term Trend: Downtrend
Spec Buy : 364
Target Price 1: 376
Target Price 2: 390
Stop Loss: 354
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
