JCI Indication

Bearish

Support / Resistance: 5,843 – 6,127

Market Drivers:
Corona Virus
- Hubei province confirms additional 57 deaths and 2,829 new confirmed cases, bringing China's total to 361 deaths and 17,205 confirmed cases
- The first death out of China reported on Sunday in the Philippines
- At least 24 provinces, municipalities and other regions have told businesses not to resume work before Feb. 10 at the earliest
- The PBOC announced Sunday that it will inject 1.2 trillion yuan (approx. USD173 bn) worth of liquidity into the markets via open market reverse repo operations
- The overall liquidity in the system would be 900 billion yuan (approx. USD130 billion) more as compared to the same period last year

Economic Calendar for Today
- China: Caixin Manufacturing PMI

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

MARKET NEWS
INTP allocates capex worth IDR 1.4 tn (+ 40%) compared to last year's capital expenditure allocation. This capex will be used to complete the refused derived fuel (RDF) facility project at the Citeureup plant, West Java and several other projects.

PPRE plans to conduct a share buyback by allocating funds of IDR 293 billion. PPRE will buy 941 million shares (9.20%).

DSNG recorded an increase in CPO sales volume of 666,000 tons (46%) in 2019. This increase was driven by additional CPO production from two palm oil mills (PKS) acquired by DSNG at the end of 2018 and the sale of remaining inventory in 2018.

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

Technical Recommendations :
Stock: *WOOD*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 470
Target Price 1: 510
Target Price 2: 545
Stop Loss: 434

Stock: *AALI*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 11,725
Target Price 1: 12,300
Target Price 2: 12,800
Stop Loss: 11,250

Stock: *BJTM*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 625
Target Price 1: 645
Target Price 2: 660
Stop Loss: 600

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

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