JCI Indication

Bullish (Moderate)

Support / Resistance: 6,203 – 6,389

The Signing of U.S. - China Phase 1 Trade Agreement
- Chinese Vice Premier Liu He: The deal is a sign the two countries could resolve their differences with dialogue
- President Trump: All U.S. tariffs on Chinese imports would be removed as soon as the two countries complete a Phase 2 trade agreement
- The deal leave in place 
  - 25% tariffs on a USD250 bn array of Chinese industrial goods and components used by U.S. manufacturers
  - China’s retaliatory tariffs on over USD100 bn in U.S. goods
  - China’s long-standing practice of propping up state-owned companies
- The Trump administration could have Europe in its sights for its next round of tariffs
  - A WTO ruling that found Airbus received subsidies
  - French digital tax on U.S. companies

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

MARKET NEWS
PT Surya Semesta Internusa Tbk (SSIA) prepares Subang City Industry as the main weapon to compete in 2020. The area, located in the Subang area, West Java, has a total land area of 2,000 hectares and is planned to begin to be marketed in mid 2020.

Nearly ten years ago, PT Indofood CBP Sukses Makmur Tbk (ICBP) still has funds from the initial public offering (IPO). The remaining funds are around IDR 294.41 billion.The realization of the use of the company's IPO funds amounted to IDR 5.79 trillion. In other words, the IPO fund absorption of the Salim Group company is still around 5% of the total net acquisition of IPO funds, IDR 6.08 trillion.

The company engaged in the field of importer, distribution and retailer of telecommunications equipment PT Erajaya Swasembada Tbk (ERAA) claimed that it would still be expansive in 2020. ERAA has two focuses in its business, namely distribution and retail. ERAA believes that the Indonesian market is still prospective, therefore the company will continue to develop retail networks throughout Indonesia in 2020.

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

Technical Recommendations :

Stock: *INCO*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy : 3,400
Target Price 1: 3,490
Target Price 2: 3,590
Stop Loss: 3,290

Stock: *MDKA*
Short Term Trend: Uptrend
Medium Term Trend: Bullish
Trade Buy : 1,145
Target Price 1: 1,175
Target Price 2: 1,215
Stop Loss: 1,090

Stock: *ELSA*
Short Term Trend: Downtrend
Medium Term Trend: Sideways
Spec Buy: 304
Target Price 1: 316
Target Price 2: 324
Stop Loss: 296

*Disclaimer on | Customer Care: 021-57900900. www.poems.co.id

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