JCI Indication

Bullish (Moderate)

Support / Resistance: 6,192 – 6,262

Market Drivers:

The Federal Reserve meeting

- Widely expected to cut the FFR for the 2nd time this year by 25 bps to 1.75%-2.00%

- To counter risks posed by the U.S.-China trade war

- Clues on how far the U.S. monetary policy easing would go

- Given that policymakers are deeply divided on whether more rate cuts are warranted

Japan Trade Balance (August)

- Exports slumped 8.2% (Y/Y), dragged down by autos, car parts and semiconductor production equipment.

- Marked a ninth straight month of decline

- Exports to China, Japan’s biggest trading partner, shrank 12.1% (Y/Y)

- Trade surplus rose 3.8% (Y/Y) to JPY472.0 bn

Oil prices

- Tumbled around 6% on Tuesday

- Saudi Arabia’s energy minister said the kingdom has tapped inventories to restore oil supplies to where they stood before drone attacks

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MARKET NEWS

WEGE

WEGE targets to obtain new contracts worth IDR 14 trillion by 2020, up 17% from this year's target of IDR 11.98 trillion. Until the first week of September 2019, WEGE has pocketed new contracts totaling IDR 5.2 trillion. The company is optimistic that it can catch up with the remaining target of the new contract worth IDR 7 trillion.

PJAA

PJAA received a loan from Bank DKI in the amount of IDR 300 billion to be used as a source of capex and opex funds for the rest of the year. The visitors of Ancol are estimated will increase by the end of the year, hence the capex will be used to finance the construction of mosque and repairment of public facilities.

BBKP

BBKP plans to issue a rights issue with a nominal value per unit of IDR 100 or  as many as 4.66 billion share units. All funds from the rights issue will be used for company working capital need. The company targets the funds raised from right issue this year's is around IDR 2 trillion.

Technical Recommendations :

Stock: *CTRA*

Short Term Trend: Sideways

Medium Term Trend: Bearish

Trade Buy : 1,105

Target Price 1: 1,145

Target Price 2: 1,200

Stop Loss: 1,055

Stock: *BMRI*

Short Term Trend: Sideways

Medium Term Trend: Bearish

Spec Buy: 6,975

Target Price 1: 7,150

Target Price 2: 7,300

Stop Loss: 6,775

Stock: *ISAT*

Short Term Trend: Bearish

Medium Term Trend: Sideways

Spec Buy : 3,280

Target Price 1: 3,470

Target Price 2: 3,630

Stop Loss: 3,060

Stock: *BBNI*

Short Term Trend: Sideways

Medium Term Trend: Bearish

Trade Buy : 7,750

Target Price 1: 7,975

Target Price 2: 8,200

Stop Loss: 7,475

PT Phillip Securities Indonesia
ANZ Tower Level 23B, Jl. Jend Sudirman
Kav. 33A Jakarta 10220 – Indonesia
Tel +62-21 5790 0800 Fax +62-21 5790 0809
Website: www.phillip.co.id