JCI Indication

Bellish (Moderate)

Support / Resistance: 6,226 – 6,295

Market Drivers:

Trade war optimism
- The U.S. and China agreed to hold high-level talks early in October
- Raising hopes for substantial progress in de-escalating the long, bitter trade conflict between the two

Upbeat U.S. Economic Data
ADP Employment Change (August)
- Increased 195,000 (1.7% y/y) following a 142,000 July gain
- ADP payrolls have grown an average of 173,000/month so far this year compared to a 219,000 monthly average in 2018
-ISM Non-Manufacturing Index (August)
- Increased to 56.4 from 53.7 in July
- It was the highest level in 3 months but remained sharply below the high of 60.8 in August of last year
Factory Orders (July)
- Rose 1.4% (0.3% y/y) following a little-revised 0.5% June gain

Economic Calendar for Today
- U.S.: Nonfarm Payrolls (August), Fed Chair Powell Speech
- Euro Zone 2Q19 GDP

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MARKET NEWS
UNTR
UNTR increased the number of loan facilities to PT Acset Indonusa Tbk (ACST) to IDR 4 trillion with JIBOR interest (+ 3%) or the equivalent of 8.45% per year, and will mature in Dec-19.
 
EXCL
1Q19 spending (capex) of IDR 4.65 tn (+129% yoy). total capex this year to IDR 7.5 tn and will be used to increase the number of base transceiver stations (BTS) XL Axiata and held fiberisasi network.

MEDC
WEGE's capital expenditure (capex) is predicted to to be used around 40% of the allocated budget. Meanwhile, management is optimistic that this year's new contract target will be achieved at IDR 7 trillion.

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Technical Recommendations :

Stock: *BBTN*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 2,100
Target Price 1: 2,170
Target Price 2: 2,250
Stop Loss: 2,030

Stock: *WTON*
Short Term Trend: Downtrend
Medium Term Trend: bearish
Spec Buy : 482
Target Price 1: 510
Target Price 2: 530
Stop Loss: 464

Stock: *WIKA*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 2,040
Target Price 1: 2,130
Target Price 2: 2,230
Stop Loss: 1960 

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