JCI Indication
Bearish (Moderate)
Support /
Resistance: 6,214 – 6,335
Market Drivers:
FOMC Minutes
- Deeply divided over whether to cut interest rates
- But were united in wanting to signal they were not
on a preset path to more easing
- Broad concern over a global economic slowdown, trade
tensions and sluggish inflation
- Tempered some dovish expectations
- Markets still broadly expect further rate cuts as
growth slows
Japan Flash PMI (August)
- Manufacturing PMI
- Rose to 49.5 from a final 49.4 in July
- Stayed below 50.0 for a 4th month as export
orders fell at a sharper pace
- Services PMI
- Climbed to 53.4, the highest level since Oct
2017 from a final 51.8 in July
Composite PMI
- Advanced to 51.7 from 50.6 the previous month
JSMR
JSMR plans to issue bonds with a minimum
tenor of five years and a coupon of around 8.5% -9% to fund the development of
toll roads owned by Jasa Marga, both those that will be completed and projects
that are still in the pipeline.
ADHI
ADHI plans to work on the loop line
design of the Phase II LRT project for the Cibubur-Bogor LRT track with a track
length of around 20km and an investment cost of IDR 15 tn.
In 1H19 PWON's net profit surged 20.35%
to IDR 1.36 tn while revenue rose 3.85% to IDR 3.5 tn. The increase was
supported by recurring income, which contributed 51% of total 1H19 revenue, as
well as from the superblock project revenue contribution. PWON is expanding the
Pakuwon City superblock with a total of 3 condos with 1 already sold out in
early 2019.
Stock: *WOOD*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy : 810
Target Price 1: 835
Target Price 2: 865
Stop Loss: 785
Stock: *KBLI*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy : 600
Target Price 1: 635
Target Price 2: 685
Stop Loss: 575
Short Term Trend: Sideways
Medium Term Trend: Bullish
Trade Buy : 3,270
Target Price 1: 3,360
Target Price 2: 3,440
Stop Loss: 3,160
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
