JCI Indication

Bearish

Support / Resistance: 6,187 – 6,290

Market Drivers:

Escalation in the U.S.- China Trade War
- U.S. will hike tariffs on USD250 bn worth of Chinese goods to 30% from 25% (Oct1)
- Tariffs on another USD300 bn in Chinese products will also go up to 15% from 10% (Sept 1 and Dec 15)
- China unveiled retaliatory tariffs on USD75 bn worth of U.S. products
- It also said a 25% tariff will be imposed on U.S. cars and a 5% on auto parts and components
- China had paused these tariffs in April
Economic Calendar for Today
- Singapore: Industrial Production (July)
- Hong Kong: Merchandise Trade (July)
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MARKET NEWS
BBTN
BBTN nationally develops community-based mortgages in 15 districts in Central Java and works closely with the Ministry of PUPR and the local government in providing land. In addition to the one-million house program, another program is optimizing KPR BTN Micro with a scheme that focuses on KPR financing with community-based debtor supported by the local government.

BNGA
BNGA sharia business unit posted a net profit of IDR 536 bn, up 64% yoy in 1H19, which was contributed by the increase in financing distribution and income from revenue sharing. Sharia financing grew 31.6% yoy to IDR 27 tn supported by the business banking, consumber banking and KPR Syariah segments.

EPMT
EPMT posted an income of IDR 11 tn, up 9% yoy, and a net profit increase of 10% yoy to IDR 314 billion in 1H19. The company's growth is supported by Kalbe products and principal products outside Kalbe, including trading in raw materials and medical devices. The management predicts growth of 8% - 9% until the end of the year.

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Technical Recommendations :
Stock: *ASII*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 6,500
Target Price 1: 6,725
Target Price 2: 6,900
Stop Loss: 6,250

Stock: *BBNI*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 7,600
Target Price 1: 7,875
Target Price 2: 8,100
Stop Loss: 7,350

Stock: *ANTM*
Short Term Trend: Downtrend
Medium Term Trend: Bullish
Trade Buy: 1,015
Target Price 1: 1,075
Target Price 2: 1,130
Stop Loss: 965

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