JCI Indication

Bullish (Moderate)

Support / Resistance: 6,003 – 6,092

Market Drivers:

U.S.-China Trade Talk

- President Trump said he will meet with Chinese Vice Premier Liu He on Friday

  - Raising hope the two countries could make progress on the trade front.

BREXIT

- Irish PM Leo Varadkar: a Brexit deal could be clinched by the end of October

  - To allow the UK to leave the EU in an orderly fashion

U.S. Consumer Price Index (September)

- Unchanged (1.7% y/y) and underlying inflation retreated

- Supporting expectations the Fed will cut interest rates in October

- Excluding food & energy, CPI rose 0.1% (2.4% y/y) following 3 straight months of 0.3% increase

Oil Prices

- Remained higher after tOPEC said it could take action to balance oil markets, including a deeper cut in oil supplies.

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MARKET NEWS

*SRIL*

PT Sri Rejeki Isman Tbk (SRIL) plans to issue  Global Bonds with a principal value of US $ 225 mn. The bonds were issued to refinance debt instruments maturing in 2021 worth US $ 175 million. The rest fund will be used for company working capital.

*CTRA*

PT Ciputra Development Tbk (CTRA) has recorded marketing sales of property developers approaching IDR 5 trillion compared to the previous year of IDR 4.1 trillion. This year, CTRA targets marketing sales of around Rp 6 trillion. Thus, the realization of the company's marketing sales has reached around 80% of the target.

*UNTR*

PT United Tractors Tbk (UNTR) Heavy equipment sales performance from January to August amounted to 2,359 units, down from 3,221 units the previous year. This year United Tractors also reduced its sales target to 3,600 units.

Technical Recommendations :

Stock: *ERAA*

Short Term Trend: Downtrend

Medium Term Trend: Sideways

Trade Buy : 1,620

Target Price 1: 1,730

Target Price 2: 1,810

Stop Loss: 1,515

Stock: *PTRO*

Short Term Trend: Downtrend

Medium Term Trend: Sideways

Spec Buy : 1,350

Target Price 1: 1,385

Target Price 2: 1,420

Stop Loss: 1,320

Stock: *BEST*

Short Term Trend: Downtrend

Medium Term Trend: Bearish

Spec Buy : 246

Target Price 1: 260

Target Price 2: 270

Stop Loss: 232

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