Thursday July 30 2015
Morning Brief
Daily IHSG (Jakarta Composite Index)
July 29 4721.12 Chg +6.37 pts (+0.14%) Volume (bn shares) 5.19 Value (IDR tn) 4.81 Adv 162 Dec 303 Unc 92 Untr 185
Foreign Transaction Buy Sell Net Buy (Sell) Top Buy BBRI BBNI BMRI TLKM JSMR
NB Val. 55.4 33.3 31.5 23.9 19.6
LQ-45 Index Gainers UNTR SILO KLBF BSDE ADHI
% 3.9% 3.3% 2.7% 2.4% 1.7%
(IDR bn)
Top Sell BBCA PTPP SSMS SRIL SMRA
2,249 1,882 367 NS Val. 52.3 20.8 16.0 15.1 13.6
Top Gainers & Losers Losers % CTRA -7.4% INDF -4.2% WSKT -3.8% INCO -3.6% PTBA -2.7%
Government Bond Yield & FX Tenor: 10 year USD/IDR KRW/IDR
Last
Chg.
8.5885% 13,456.00 11.61
2.48% -0.07% 0.45%
Global Indexes Index
Indonesian Market Daily
JCI - Intraday
Source: Bloomberg
JCI - daily charts
Today’s Outlook: Normal reaction to the Fed For today we estimate JCI to move flat within support range 4694-4699 and resistance range 4745-4747. After two-days the Fed meeting resulting no increase for interest rate and any timing clues given, it seems that bearish period is halted throughout global market. This is supported by normalized situation in China’s market and recovery in oil prices. However, it must take into consideration that government yield rose significantly yesterday. In addition, earning for each company must be considered appropriately.
Global Market United States US market closed higher last night after the Federal Reserve kept rates unchanged in its July statement amid continued oil prices rebound. Europe European market finished higher yesterday in the middle of massive earnings announcement while investors waiting for the Fed’s decision. Asia Asian market was on rebound yesterday after stimulus in China regulator to stabilize its capital market.
Last
Chg.
%
Dow Jones
17,751.39
121.12
0.69%
S&P 500
2,108.57
15.32
0.73%
Daily Recommendation (details on the next page)
Nasdaq
5,111.73
22.53
0.44%
Trading Buy: APLN, BSDE, SMRA
FTSE 100
6,631.00
75.72
1.16%
CAC 40
5,017.44
40.12
0.81%
Daily Company News
DAX
11,211.85
37.94
0.34%
Nikkei
20,302.91
(25.98)
-0.13%
Hang Seng
24,619.45
115.51
0.47%
GIAA PTBA WTON BBRI
S&P/ASX 200
5,624.16
39.47
0.71%
Local and Global News
CSI 300
3,930.38
119.29
3.13%
KOSPI
2,037.62
(1.48)
-0.07%
Non-discretion fund is 19 percent of total 2016’s state budget Fed leaves interest rate unchanged
: Books profit in 1H : Net profit drops 30.85 percent : Secures IDR 1.35 trillion of new contract in 1H : Opens branch in Singapore
Indonesia Economic Data
Commodity Price Commodity
Source: Bloomberg
Indonesian Market Recap JCI was on rebound from its lowest since March 2014 yesterday after new palm oil export tax rates regulation in the middle of mixed earning reports. Top gainers: Trade (+1.44%), Misc Ind (+0.99%), Agri (+0.98%).
Monthly Indicator
Prev.
Quarterly Indicator
Last
Prev.
7.50%
7.50%
Real GDP
4.71%
5.01%
FX Reserve (USD bn)
108.03
110.77
Current Acc (USD bn)
(3.85)
(5.67)
1.70%
Trd Balance (USD bn)
0.48
1.08
Govt Spending Yoy
2.21%
2.83%
(76.0)
-0.67%
Exports Yoy
-12.78%
-14.39%
FDI (USD bn)
3.73
5.15
10.0
0.06%
96.30
104.07
111.30
116.90
Last
Chg.
%
Gold (USD /troy oz.)
1,096.85
1.37
0.13%
BI Rate
Crude Oil (USD /bbl)
48.79
0.81
1.69%
Gas (USD /mmbtu)
2.86
0.05
Nickel LME (USD /MT)
11,202
Tin LME (USD /MT)
16,330
CPO (MYR/Ton)
2,111
(20.00) -0.94%
Last
Imports Yoy
-17.42%
-21.37%
Business Confidence
Inflation Yoy
7.26%
7.15%
Cons. Confidence
PT NH Korindo Securities Indonesia — Daily Morning Brief | www.nhsec.co.id
Page 11
Stocks Recommendation APLN
Last = 355
Analysis
Long white candlestick after two consecutive spinning candlesticks indicating confirmed bullish reversal. Stochastic indicator has formed golden cross. Momentum indicator is on rebound.
Range
353-365
Action
Trading buy as price above 353 Source: Bloomberg
BSDE
Last = 1715
Analysis
Long-shadowed inverted hammer candlestick indicating bullish reversal possibility. Momentum is on rebound as it is keeping uptrend. William's %R indicator is on rebound from oversold area.
Range
1680-1850
Action
Trading buy as price above 1680 Source: Bloomberg
SMRA
Last = 1710
Analysis
Long-shadowed morning doji star indicating bullish reversal possibility. Price is on rebound around its middle bollinger line. Price near its MA200 day line.
Range
1700-1790
Action
Trading buy as price above 1700 Source: Bloomberg
Daily Company News GIAA : Books profit in 1H PT Garuda Indonesia, Tbk reported profit of USD 27.7 million in first semester compared to loss of USD 203.02 million in previous year. Efficiency after applying hedging policy for aviation fuel gave significant impact to company. The management stated that it has saved USD 315 million in first semester from hedging. (Kontan)
PTBA : Net profit drops 30.85 percent PT Bukit Asam, Tbk reported its net profit dropped by 30.85 percent in first semester from IDR 1.15 trillion to IDR 795.16 billion. Average selling prices declined by 3 percent is major factor for this bad result. Gross profit fell significantly from IDR 2.11 trillion to IDR 1.71 trillion. (Kontan)
WTON : Secures IDR 1.35 trillion of new contract in 1H PT Wijaya Karya Beton, Tbk only secured IDR 1.35 trillion of new contract in first semester. This result is only 33.7 percent of this year target at IDR 4 trillion. The management now is considering to reduce this year target. Significant contracts secured by company are such as oleo chemical project in Riau, non-toll road in Jakarta, and apartment in Sidoarjo. (Kontan)
BBRI : Opens branch in Singapore PT Bank Rakyat Indonesia opened branch in Singapore to increase its image in Asia. The company viewed that Singapore is most important market in Asia as its status bridging Asian economy and the world. In this country the company is aiming trade finance business and remittance. The company is targeting this branch to have asset of USD 200 million by the end of 2017. (Kontan)
PT NH Korindo Securities Indonesia — Daily Morning Brief | www.nhsec.co.ide 2
Page 22
Technical Indicators Support
Ticker S3 IHSG
S2
Resistance S1
R1
R2
R3
SMA 5
MACD
STOCHASTIC
RSI
LOWER MIDDLE UPPER BOLLINGER BAND BOLLINGER BAND BOLLINGER BAND
4,659
4,690
4,705
4,750
4,781
4,795 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
4,741
4,874
5,007
AALI
19,363
19,969
20,238
21,113
21,719
21,988 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
20,619
24,055
27,491
LSIP
1,253
1,289
1,318
1,383
1,419
1,448 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
1,380
1,547
1,714
ADRO
535
555
575
615
635
POSITIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
502
661
820
HRUM
978
986
993
1,008
1,016
1,023 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
987
1,068
1,150
ITMG
9,588
9,781
9,938
10,288
10,481
10,638 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
9,231
11,684
14,137
INCO
1,970
2,045
2,100
2,230
2,305
2,360 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
2,141
2,518
2,894
TINS
553
569
583
613
629
557
647
736
CPIN
2,373
2,411
2,448
2,523
2,561
2,598 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
2,521
2,726
2,932
MAIN
1,190
1,233
1,270
1,350
1,393
1,430 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
1,268
1,582
1,895
JPFA
407
426
445
483
502
521 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
476
524
571
INTP
19,625
20,025
20,350
21,075
21,475
21,800 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
20,346
21,305
22,264
SMCB
1,473
1,476
1,483
1,493
1,496
1,503 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
1,464
1,508
1,551
SMGR
9,938
10,019
10,163
10,388
10,469
10,613 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
10,229
11,480
12,731
WTON
983
1,001
1,013
1,043
1,061
1,073 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
973
1,071
1,169
6,238
6,319
6,363
6,488
6,569
6,613 NEGATIVE NEGATIVE
6,369
6,798
7,226
Agriculture
Mining 655
643
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
Basic Industries
Misc. Industries ASII
OVERSOLD
NEAR OVERBOUGHT
Consumer AISA
2,000
2,010
2,015
2,030
2,040
1,841
2,014
2,187
ICBP
11,588
11,781
11,913
12,238
12,431
12,563 NEGATIVE POSITIVE
OVERSOLD
NEAR OVERBOUGHT
11,798
12,334
12,870
INDF
5,463
5,619
5,763
6,063
6,219
6,363 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
6,885
ROTI
953
1,011
1,063
1,173
1,231
1,283
44,025
45,513
46,375
48,725
50,213
GGRM
2,045 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
5,880
6,383
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,093
1,147
1,201
51,075 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
42,482
47,573
52,663
KLBF
1,603
1,629
1,653
1,703
1,729
1,625
1,672
1,718
UNVR
39,138
39,344
39,613
40,088
40,294
40,563 NEGATIVE POSITIVE
1,753
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT OVERSOLD
NEAR OVERBOUGHT
39,336
40,138
40,939
ASRI
490
498
505
520
528
535 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
500
551
602
BEST
375
380
383
391
396
399 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
381
416
452
BSDE
1,628
1,664
1,683
1,738
1,774
1,793 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,616
1,757
1,897
CTRA
950
1,010
1,065
1,180
1,240
1,295 NEGATIVE NEGATIVE
1,140
1,243
1,345
CTRP
478
489
503
528
539
505
547
589
LPKR
1,013
1,059
1,083
1,153
1,199
1,123
1,183
1,243
Property
PWON
553
OVERSOLD
OVERSOLD
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,223 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
388
397
401
414
423
398
421
444
ADHI
2,538
2,571
2,598
2,658
2,691
2,718
427 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT NEAR OVERBOUGHT
1,897
2,382
2,867
PTPP
3,725
3,790
3,850
3,975
4,040
4,100 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
4,287
TOTL
753
776
803
853
876
WIKA
2,675
2,738
2,785
2,895
WSKT
1,450
1,533
1,625
EXCL
2,643
2,711
TLKM
2,823
2,834
PGAS
3,745
JSMR
POSITIVE
POSITIVE
OVERBOUGHT
3,429
3,858
NEAR OVERBOUGHT
814
854
895
2,958
3,005 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
2,495
2,903
3,311
1,800
1,883
1,975 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,498
1,722
1,946
2,758
2,873
2,941
2,988 NEGATIVE NEGATIVE
2,792
3,298
3,804
2,848
2,873
2,884
2,898
2,813
2,884
2,956
3,823
3,865
3,985
4,063
4,105 NEGATIVE NEGATIVE
NEAR OVERBOUGHT
3,881
4,159
4,436
5,388
5,469
5,513
5,638
5,719
5,763 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
5,359
5,719
6,079
BBCA
12,175
12,413
12,675
13,175
13,413
13,675 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
12,997
13,444
13,891
BBNI
4,405
4,513
4,615
4,825
4,933
5,035 NEGATIVE NEGATIVE
OVERSOLD
OVERSOLD
4,712
5,244
5,776
BBRI
9,288
9,369
9,438
9,588
9,669
9,738 NEGATIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
9,561
10,290
11,019
BBTN
1,135
1,158
1,175
1,215
1,238
1,255 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,155
1,184
1,212
BMRI
9,213
9,294
9,388
9,563
9,644
9,738 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
9,502
9,973
10,443
903 NEGATIVE NEGATIVE
OVERSOLD
Infrastructure OVERSOLD
OVERSOLD
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT OVERSOLD
Finance
Trade AKRA
5,663
5,781
5,863
6,063
6,181
UNTR
16,963
17,544
17,938
18,913
19,494
ACES
603
611
618
633
641
648 NEGATIVE NEGATIVE
OVERSOLD
ERAA
513
516
523
533
536
543 NEGATIVE POSITIVE
OVERSOLD
LPPF
15,850
16,250
16,450
17,050
MPPA
2,798
2,836
2,858
943
944
948
2,723
2,776
2,843
TELE SCMA BHIT BMTR
5,188
5,686
6,185
17,755
19,083
20,410
NEAR OVERBOUGHT
605
643
681
NEAR OVERBOUGHT
518
564
609
17,450
17,650 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
16,124
17,146
18,168
2,918
2,956
2,978 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
2,786
3,000
3,215
953
954
958 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
936
959
981
2,963
3,016
3,083 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
2,782
2,943
3,103
274
278
283
292
296
1,103
1,124
1,143
1,183
1,204
6,263 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT 19,888
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
301 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT 1,223
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
PT NH Korindo Securities Indonesia — Daily Morning Brief | www.nhsec.co.ide 3
248
272
296
1,097
1,139
1,181
Page 33
Fundamental Ratios Ticker
12 Month Consensus Target Price
IHSG
Return Potential
Market Cap (trillion IDR)
PE (x)
PBV (x)
ROE (%)
52 Week High
DER
52 Week Low
YTD Return (%)
1 Year Return
5,693
20.59%
4,520.9
23.7
2.3
10.92%
0.69
5,524
4,711
-9.68%
-7.23%
AALI
22,778
10.04%
32.6
20.6
2.9
14.47%
0.37
27,525
19,250
-14.64%
-22.47%
LSIP
1,771
31.67%
9.2
10.9
1.3
12.10%
-
2,150
1,325
-28.84%
-35.95%
ADRO
933
58.10%
18.9
12.8
0.5
3.85%
0.58
1,390
550
-43.27%
-50.21%
ITMG
15,822
58.62%
11.3
6.1
1.0
15.27%
-
29,500
9,825
-35.12%
-61.85%
INCO
3,096
46.06%
21.1
8.5
0.9
10.13%
0.10
4,575
2,120
-41.52%
-47.33%
TINS
683
12.02%
4.5
9.3
0.8
10.39%
0.42
1,475
575
-50.41%
-57.04%
CPIN
3,522
41.43%
40.8
26.8
3.6
13.77%
0.60
4,345
2,450
-34.13%
-36.96%
JPFA
625
40.45%
4.7
#N/A N/A
1.1
-5.59%
1.37
1,400
445
-53.16%
-64.68%
INTP
21,763
6.55%
75.2
14.2
2.9
21.27%
0.01
25,725
20,425
-18.30%
-18.14%
SMCB
1,492
0.15%
11.4
30.4
1.3
4.23%
0.62
3,030
1,425
-31.81%
-50.83%
SMGR
13,724
33.56%
60.9
11.2
2.4
24.20%
0.16
16,900
10,025
-36.57%
-38.01%
7,233
12.58%
260.1
14.1
2.6
19.50%
0.58
8,575
6,325
-13.47%
-16.83% -14.95%
Agriculture
Mining
Basic Industries
Misc. Industries ASII Consumer AISA
2,200
8.91%
6.5
17.5
1.9
13.54%
0.75
2,565
1,660
-3.58%
ICBP
15,473
28.68%
70.1
25.8
4.8
19.55%
0.22
16,050
10,100
-8.21%
15.07%
INDF
8,420
45.80%
50.7
20.9
1.9
13.42%
0.67
7,725
5,775
-14.44%
-18.37%
ROTI
1,345
15.45%
5.9
30.3
5.7
20.73%
0.87
1,455
1,045
-15.88%
-11.07%
58,167
23.76%
90.4
17.3
2.6
16.09%
0.55
64,250
42,000
-22.57%
-13.28%
KLBF
1,860
9.39%
79.7
38.2
8.0
22.69%
0.03
1,915
1,580
-7.10%
-1.73%
UNVR
36,580
-7.86%
302.9
50.7
47.8
99.87%
0.27
46,000
29,500
22.91%
29.11%
ASRI
730
43.13%
10.0
9.4
1.6
18.65%
1.04
700
430
-8.93%
-2.86%
BEST
510
31.18%
3.8
10.0
1.3
13.70%
0.16
770
369
-46.71%
-34.07%
BSDE
2,259
31.72%
33.0
7.7
1.9
28.78%
0.23
2,230
1,420
-4.99%
8.20%
CTRA
1,448
35.31%
16.2
12.2
2.1
18.61%
0.35
1,585
940
-14.40%
-7.36%
CTRP
690
32.69%
3.2
7.7
0.7
9.37%
0.53
900
493
-38.46%
-31.58%
LPKR
1,309
18.47%
25.5
9.6
1.4
16.95%
0.57
1,460
885
8.33%
0.45%
570
40.49%
19.6
8.0
3.0
45.61%
0.47
565
372
-21.17%
-2.17%
ADHI
3,658
38.84%
4.7
14.9
2.8
20.39%
1.15
3,870
1,910
-24.28%
-15.27%
PTPP
4,712
21.60%
18.8
33.4
7.6
24.91%
1.01
4,245
2,100
8.39%
71.46%
TOTL
1,116
37.78%
2.8
15.5
3.2
21.72%
-
1,210
780
-27.68%
1.25%
WIKA
3,282
17.20%
17.2
33.8
4.3
14.38%
0.61
3,895
2,420
-23.91%
5.66%
WSKT
1,922
15.07%
23.4
32.8
5.8
19.72%
1.11
1,900
765
16.55%
111.51%
TLKM
3,198
12.03%
287.8
18.9
3.9
21.82%
0.26
3,004
2,576
0.18%
8.31%
PGAS
4,480
14.87%
94.5
10.6
2.3
24.92%
0.64
6,225
3,855
-35.00%
-33.90%
JSMR
7,529
35.05%
37.9
27.9
4.1
14.70%
1.17
7,250
5,275
-20.92%
-13.23% 10.78%
GGRM
Property
PWON
Infrastructure
Finance BBCA
13,766
7.13%
316.8
18.4
4.0
22.87%
0.12
15,600
10,950
-2.10%
BBNI
6,985
50.55%
86.5
7.7
1.4
20.20%
0.38
7,275
4,620
-23.93%
-9.02%
BBRI
12,951
36.33%
234.4
9.6
2.4
27.97%
0.59
13,450
9,400
-18.45%
-15.18%
BBTN
1,325
11.79%
12.5
8.9
1.0
11.55%
1.68
1,270
980
-1.66%
9.72%
BMRI
12,179
28.20%
221.7
11.0
2.1
21.07%
0.51
12,550
9,275
-11.83%
-7.32%
Trade AKRA
6,358
7.75%
23.2
22.2
3.9
18.73%
0.69
6,225
3,950
43.20%
34.09%
UNTR
21,275
14.08%
69.6
12.8
1.8
14.90%
0.07
24,500
16,425
7.49%
-18.56%
ACES
755
20.85%
10.7
19.6
4.3
24.05%
0.01
1,025
600
-20.38%
-32.43%
ERAA
836
59.24%
1.5
7.6
0.5
6.90%
0.52
1,295
510
-51.83%
-53.74%
MPPA
4,334
49.45%
15.6
26.8
5.4
18.71%
-
4,500
2,650
-4.92%
-1.53%
TELE
1,133
19.30%
6.8
18.4
2.6
16.17%
0.70
1,050
785
2.15%
20.25%
SCMA
3,437
17.71%
42.7
29.2
11.3
42.77%
0.00
4,200
2,710
-16.57%
-23.16%
BMTR
1,643
41.06%
16.5
33.2
1.4
4.50%
0.45
2,125
1,045
-18.25%
-39.32%
PT NH Korindo Securities Indonesia — Daily Morning Brief | www.nhsec.co.ide 4
Page 44
Global Economic Calendar Monday 27- Jul
EUR GER GER GER USA USA
Hour Jakarta 15:00 15:00 15:00 15:00 19:30 19:30
Tuesday 28 - Jul
UK UK USA USA USA USA
15:30 15:30 20:45 20:45 21:00 21:00
GDP YoY GDP QoQ Markit US Composite PMI Markit US Services PMI Richmond Fed Manufact. Index Consumer Confidence Index
Wednesday 29 - Jul
JPN GER UK USA USA
06:50 13:00 15:30 18:00 21:00
Retail Trade YoY GfK Consumer Confidence Mortgage Approvals MBA Mortgage Applications Pending Home Sales MoM
Jun Aug Jun 7/24/2015 Jun
0.90% 10.1 66.6K 0.80% -1.78%
1.10% 10.1 66.3K -1.10%
3.00% 10.1 64.4K 0.10% 0.90%
Thursday 30 - Jul
USA JPN GER GER EUR GER GER USA USA USA
01:00 06:50 14:55 14:55 16:00 19:00 19:00 19:30 19:30 19:30
FOMC Rate Decision (Upper Bound) Industrial Production MoM Unemployment Claims Rate SA Unemployment Change (000's) Consumer Confidence CPI EU Harmonized MoM CPI MoM GDP Price Index GDP Annualized QoQ Initial Jobless Claims
7/29/2015 Jun P Jul Jul Jul F Jul P Jul P 2Q A 2Q A 7/25/2015
0.25% 0.80%
0.25% 0.30% 6.40% -5K -0.30% 0.20% 1.50% 2.50% --
0.25% -2.10% 6.40% -1K -7.1 -0.20% -0.10% 0.00% -0.20% 255K
Friday 31 - Jul
JPN JPN JPN JPN JPN JPN EUR EUR USA USA USA
06:30 06:30 06:30 06:30 06:30 06:30 16:00 16:00 19:30 20:45 21:00
Tokyo CPI YoY Natl CPI Ex Fresh Food YoY Natl CPI YoY Job-To-Applicant Ratio Tokyo CPI Ex-Fresh Food YoY Jobless Rate Unemployment Rate CPI Estimate YoY Employment Cost Index Chicago Purchasing Manager U. of Mich. Sentiment
0.20% 0.00% 0.30% 1.20 0.00% 3.30% 11.10% 0.20% 0.60% 50.5 94.0
0.30% 0.10% 0.50% 1.19 0.10% 3.30% 11.10% 0.20% 0.70% 49.4 93.3
Date
Country
Event
Period
Actual
Consensus
Prev
Jun Jul Jul Jul Jun Jun
5.00% 113.9 102.4 108.0 0.80% 3.40%
5.10% 113.0 102.0 107.5 0.40% 3.00%
5.00% 113.1 102.0 107.4 0.00% -2.20%
2Q A 2Q A Jul P Jul P Jul Jul
2.60% 0.70% 55.2 55.2 13 90.91
2.60% 0.70% -55.0 6 100.0
2.90% 0.40% 54.6 54.8 6 101.4
M3 Money Supply YoY IFO Current Assessment IFO Expectations IFO Business Climate Durables Ex Transportation Durable Goods Orders
Jul Jun Jun Jun Jul Jun Jun Jul 2Q Jul Jul F
Local Economic Calendar Date 29 - 31 Jul
Hour Jakarta Tentative Money Supply M2 YoY Tentative Money Supply M1 YoY
Event
Period Jun Jun
Actual
Consensus
Prev
13.20% 8.20%
7.50% 5.50%
Source: Bloomberg PT NH Korindo Securities Indonesia — Daily Morning Brief | www.nhsec.co.ide 5
Page 55
Local & Global News Non-discretion fund is 19 percent of total 2016’s state budget Vice President, Jusuf Kalla stated that non-discretion fund in 2016 proposed stated budget is IDR 398 trillion or about 19 percent from total budget of IDR 2,095 trillion. About 81 percent of the budget is tied to constitution such budget for education, healthy, and regular expense. Non-discretion fund will be used to several strategic projects including infrastructure development. (Bisnis) Fed leaves interest rate unchanged The US Federal Reserve declined to raise interest rates or provide any clues about when a hike is on the way in its two-day meeting concluded last night. Previously, there had been some anticipation that the Fed would provide at least few code words indicating that it was ready to move, but there was no evidence in the post-meeting statement. Market reaction was generally positive though not decisively so. (CNBC)
Corporate Calendar Date Monday 27 - Jul
Event
Company
Extraordinary Shareholder Meeting BHIT, BMTR, MNCN, MSKY
Extraordinary Shareholder Meeting MERK Tuesday 28 - Jul
Stock Buyback
BHIT (10% of shares), MSKY (10% of shares)
Earnings Release Q2 2015
BDMN (EPS estimate: 68.85)
Annual Shareholder Meeting OCAP Wednesday Extraordinary Shareholder Meeting PPRO 29 - Jul Earnings Release Q2 2015 BBCA (EPS estimate: 176.76), GIAA
Thursday 30 - Jul
Friday 31 - Jul
Annual & Extraordinary Shrhldr M
SIPD
Earnings Release Q2 2015
BMRI (EPS estimate: 221.87), BBNI (EPS estimate: 149.25), LPPF (EPS estimate: 137.81
Cum Stock Split Date
CEKA (2 for 1)
Earnings Release Q2 2015
BBRI (EPS estimate: 251.96) Source: Bloomberg
PT NH Korindo Securities Indonesia — Daily Morning Brief | www.nhsec.co.ide 6
Page 66
Disclaimer & Contacts
Research Team: Reza Priyambada
Bagus Permadi
[email protected]
[email protected]
Raphon Prima
[email protected]
DISCLAIMER This report, and any electronic access to it, is restricted to and intended only for clients of PT NH Korindo Securities Indonesia or a related entity to PT NH Korindo Securities Indonesia. This document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not to be suitable for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. We expressly disclaim any responsibility or liability (express or implied) of P.T. NH Korindo Securities Indonesia, its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT NH Korindo Securities Indonesia, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expresses disclaimed. All rights reserved by PT NH Korindo Securities Indonesia
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