JCI Indication

Bearish (Moderate)

Support / Resistance: 5,820 – 5,913

Market Drivers:
Corona Virus
- 1,933 new confirmed cases and 100 more deaths
- Total 70,548 confirmed cases and 1,770 deaths

Japan 4Q19 GDP
- Fell 6.3% Y/Y (-1.6% Q/Q), faster than a median market forecast for a 3.7% contraction and was the biggest since a 7.4% decline in 2Q14
- Private consumption dropped 2.9%
 - Households curbed spending after a tax hike in October 2019
- Capital expenditure fell 3.7%
- Domestic demand knocked 2.1 points off growth
- External demand (exports minus imports) contributed 0.5%

Singapore 4Q19 GDP
- Grew by 1% in 4Q19, a revision from earlier estimates of 0.8%
- The government downgraded its 2020 forecast to -0.5% to 1.5% from 0.5% to 2.5% previously

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MARKET NEWS

AMRT is targeting the operation of 1,000 new Alfamart outlets throughout 2020, especially in several potential areas outside Java.

ESSAplans to raise US $ 450 million for debt refinancing through global bond issuance or bank loans.

HOKI is completing the construction of a new factory in Palembang, South Sumatra. HOKI allocates capital expenditure up to IDR 70 billion to launch its plans.

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Technical Recommendations :
*Technical Recommendations:*
Stock: *PTPP*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 1,360
Target Price 1: 1,435
Target Price 2: 1,500
Stop Loss: 1,310

Stock: *ASII*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy : 6,100
Target Price 1: 6,275
Target Price 2: 6,500
Stop Loss: 5,875

Stock: *KLBF*
Short Term Trend: Downtrend
Medium Term Trend: Bearish
Spec Buy: 1,390
Target Price 1: 1,440
Target Price 2: 1,490
Stop Loss: 1,330

Stock: *PGAS*
Short Term Trend: Sideways
Medium Term Trend: Bearish
Spec Buy: 1,520
Target Price 1: 1,600
Target Price 2: 1,670
Stop Loss: 1,440

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