JCI Indication

Bearish (Moderate)

Support / Resistance: 6,190 – 6,277

Market Drivers:

US-China trade developments

- Hopes of an interim Sino-U.S. tariff deal

- The two countries described their talks as productive and constructive

- Both the U.S. and China agreed to maintain in contact.

- A high-level trade meeting in Washington would take place in October, as previously planned

- The Chinese delegation canceled a visit to U.S. farms in Montana and headed back to China earlier than planned

Oil Prices

- Gained >1% as Middle East tensions remained elevated

- The Pentagon has ordered additional troops to be deployed in the Gulf region to strengthen Saudi Arabia’s air and missile defenses

- Saudi Arabian state oil firm Aramco told Japanese refiner JXTG about a potential change in shipments

  - Raising questions over Saudi’s ability to supply crude following recent attacks on its major refineries.

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MARKET NEWS

*CTRA*

CTRA has realized marketing sales of IDR 3.8 trillion until August, 2019 or 63.12% of the total target of IDR 6.02 tn. Marketing sales also grew 245% yoy by IDR 1.1 tn. The company is optimistic that it can achieve the overall target amid the declining market conditions.

*BMRI*

The Indonesian Police are cooperating with Bank Mandiri to integrate the Driving License(SIM) with E-Money, which is called Smart SIM. Later, this card is equipped with chips that will save all SIM holder identity data in detail, including track record of violations, as well as E-Money payment transactions.

*FASW*

Siam Cement Group (SCG) through its subsidiary, SCGP Solutions (Singapore), completed the tender offer shares of PT Fajar Surya Wisesa. This action is carried out after SCG Packaging becomes the new controller which controlled 55% of FASW shares as of June 28, 2019. The company purchased 5.72 mn shares at a price of IDR 8,265 per share or equivalent to IDR 47.32 bn.

Technical Recommendations :

Stock: *ANTM*

Short Term Trend: Sideways

Medium Term Trend: Bullish

Buy on Weakness : 1,065

Target Price 1: 1,110

Target Price 2: 1,155

Stop Loss: 1,025

Stock: *SMGR*

Short Term Trend: Sideways

Medium Term Trend: Sideways

Trade Buy: 12,850

Target Price 1: 13,250

Target Price 2: 13,600

Stop Loss: 12,350

Stock: *UNTR*

Short Term Trend: Downtrend

Medium Term Trend: Sideways

Buy on Weakness: 22,000

Target Price 1: 22,750

Target Price 2: 23,800

Stop Loss: 20,850

PT. Phillip Sekuritas Indonesia 
Research Department
ANZ Tower Level 23B
Jl. Jend. Sudirman Kav. 33A, 10220 Jakarta
Ph: (62 21) 57900 800
Email: research@phillip.co.id
Website: www.poems.co.id