JCI Indication

Bearish (Moderate)

Support / Resistance: 6,212 – 6,336

Market Drivers:

ISM Manufacturing Index (August)
- Fell to 49.1 from 51.2 in July
- It was the lowest level since January 2016 and was below the expansion peak of 60.8 in August 2018
- Amid worries about a weakening global economy and rising trade tensions between China and the U.S.

BREXIT
- British lawmakers defeated PM Boris Johnson in parliament by 328 to 301
- in a bid to prevent him taking Britain out of the EU without a divorce agreement
- prompting the PM to announce that he would immediately push for a snap election
- On Wednesday, lawmakers will seek to pass a law forcing Johnson to ask the EU to delay Brexit, for a third time, until Jan. 31

Economic Calendar for today
- Australia: 2Q19 GDP
- China: Caixin Services PMI (August)
------------------------------------------------
MARKET NEWS
BSDE
BSDE posted a 1H19 net profit of IDR 2.09 tn, surged 411.37% yoy from IDR 409.22 bn, which was supported by an increase in operating income by 15.43% to IDR 3.6 tn from IDR 3.12 tn and other income another net of IDR 638.82 bn. EPS reached IDR 110.2 or surged 418.3% yoy from IDR 21.26.

PTPP
PT PP Infrastructure has won the tender for the construction and management of Pekanbaru inter-city and Kampar regency in Riau for drinking water supply systems (SPAM) with an estimated investment value of IDR 1.6 tn. PT PP Infrastructure has formed a consortium with Maynilad Water Services and PT Varsha Zamindo Lestari.

LPCK
LPCK posted a 1H19 total revenue of IDR 686 bn, gross profit of IDR 270 bn and net profit of IDR 221 bn. Residential house income contributed 61.8%, while industrial and commercial income contributed 11.9% of total income. EBITDA of IDR 252 bn, down 88% yoy from IDR 2.10 tn.

-------------------------------------------------

Technical Recommendations :

Stock: *INDY*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy : 1,360
Target Price 1: 1,405
Target Price 2: 1,480
Stop Loss: 1,295

Stock: *ADRO*
Short Term Trend: Uptrend
Medium Term Trend: Bearish
Trade Buy : 1,190
Target Price 1: 1,230
Target Price 2: 1,275
Stop Loss: 1,115

Stock: *HMSP*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 2,680
Target Price 1: 2,800
Target Price 2: 2,870
Stop Loss: 2,520

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