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To subscribe to our Daily Focus, please contact us at [email protected]
Mirae Asset Sekuritas Indonesia
28 Maret, 2019
Market Index
Last Trade Chg (%) MoM YoY
JCI 6,444.7 -0.4 0.4 5.4
MSCI Indonesia 25.4 -1.7 0.4 -2.5
MSCI EM 1,044.1 -0.6 0.0 -9.7
HANG SENG 28,728.3 0.6 -0.2 -4.8
KOSPI 2,145.6 -1.0 -2.3 -11.3
FTSE 7,194.2 0 1.7 2.2
DJIA 25,625.6 -0.1 -1.0 7.6
NASDAQ 7,643.4 -0.6 2.1 10.7
Valuation
2018F P/E (x) P/B (x) ROE (%)
JCI 15.4 2.3 17.7
Key Rates
Last Trade Chg (bps) MoM YoY
BI 7-Day RR 6.00 0 25 -100
3yr 7.03 5 -17 90
10yr 7.63 1 -19 87
FX
Last Trade Chg (%) MoM YoY
USD/IDR 14,208 0.2 1.0 3.1
USD/KRW 1,135 0.1 0.9 6.0
USD/JPY 111 -0.1 -0.8 3.4
USD/CNY 7 0.1 0.4 6.9
Commodities
Last Trade Chg (%) MoM YoY
WTI 59.4 -0.9 3.8 13.3
Gold 1,309.6 -0.5 -0.3 -1.2
Coal 93.5 0.3 -1.5 -3.5
Palm Oil 2,031.0 -0.2 6.1 -15.3
Rubber 141.7 0.9 0.5 8.5
Nickel 13,064.0 -0.1 0.1 -0.5
Copper 6,330.0 -0.2 -2.7 -4.8
Tin 21,350.0 0.2 -1.1 2.0
JCI Index VS MSCI Emerging Markets
Market commentary
Hariyanto Wijaya CFA, CPA (Aust), CMT ([email protected])
IHSG ditutup melemah -0,4% dengan hampir semua sektor turun, kecuali sektor
trade dan property. Kami perkirakan IHSG akan trade mixed to lower hari ini di balik
sentimen negatif dari market AS semalam. Harga saham INDF dan ICBP menurun
secara signifikan dalam beberapa hari terakhir, yang kami kaitkan dengan rencana
INDF dan ICBP untuk melakukan land acquisition. INDF dan ICBP sekarang trading
dengan undemanding valuation. Oleh karena itu, menurut kami share price pullback
baru-baru ini adalah peluang bagus untuk mengakumulasi ICBP (Buy, TP: IDR11,800) dan INDF (Not rated).
Indeks AS ditutup lebih rendah pada hari Rabu sebagaimana 10-year US treasury
yields turun lagi dan prolonged inversion pada yield curve AS memicu kekhawatiran
perlambatan ekonomi AS. Energi menurun karena harga WTI crude oil turun hampir
1% setelah Energy Information Administration mengungkapkan cadangan minyak
mentah AS secara tak terduga naik minggu lalu. Dow turun 0,13%, S&P kehilangan
0,46%, dan Nasdaq turun 0,63%. Market memantau finalized US GDP yang akan diumumkan hari ini.
Barito Pacific (BRPT IJ) - 4Q18 preview: Buy futures, be futuristic
Lee Young Jun ([email protected])
Stagnant earning growth widely expected in 2018, resilience in 2019F
Karena tie-in dan turnaround maintenance (TAM), kami percaya produksi dan
volume penjualan cenderung tetap flat pada tahun 2018. Kami memperkirakan
bahwa biaya bahan baku yang lebih tinggi menyebabkan bottom-line turun 10.8%
YoY (USD105.4jt) pada tahun 2018. Untuk 2019F, sementara kami memperkirakan
pertumbuhan top-line tetap flat, kami mengantisipasi bahwa bottom-line akan
mencapai pertumbuhan dua digit.
Product spreads likely to stabilize in 2019F
Kami prediksi spread produk akan tetap flat secara keseluruhan, karena perselisihan
perdagangan dan kemungkinan kenaikan harga minyak di 2019F.
Flat production growth is expected, but sales volume to grow in 2019F
TAM untuk TPIA diperkirakan akan berlangsung pada tahun 2020, tetapi jadwal
telah didorong ke depan di sekitar Juni 2019. Kami memperkirakan produksi akan
berkurang satu digit atau dua digit walaupun kapasitas tambahan kemungkinan
akan mulai beroperasi setelah TAM. Tapi kami percaya volume penjualan akan
tumbuh sedikit karena kami piker manajemen cenderung mempertahankan tingkat
persediaan yang cukup di 2019F
Star Energy: Higher contribution in 2018 and better margins in 2019F
Untuk 2018, kami memperkirakan bahwa pendapatan Star Energy meningkat
secara moderat, berkat kontribusi penuh dari operasi panas bumi Salak dan operasi
panas bumi Darajat. Selain itu, kami pikir kontribusi bottom-line akan lebih tinggi
pada 2019, karena beban bunga yang lebih rendah dari Star Energy.
Downgrade to Trading Buy with higher target price of IDR3,950
Kami menurunkan rekomendasi kami pada BRPT menjadi Trading Buy, tetapi
menaikkan harga target kami menjadi IDR3,950 karena: 1) pertumbuhan bottom-
line 2019F; 2) beban bunga yang lebih ringan; dan 3) meningkatkan margin.
550
800
1,050
1,300
1,550
4,000
5,000
6,000
7,000
01/1607/1601/1707/1701/1807/1801/19
JCI MSCI EM (pt) (pt)
28 Maret, 2019
2
Embun Pagi
Mirae Asset Sekuritas Indonesia
Mirae Asset Sekuritas Indonesia cartoon
28 Maret, 2019
3
Embun Pagi
Mirae Asset Sekuritas Indonesia
Local flashes
BMRI: Awal tahun transaksi e-commerce Bank Mandiri tumbuh 73%. PT Bank Mandiri
(persero) Tbk (BMRI), mencatat pertumbuhan transaksi e-commerce yang signifikan pada
awal tahun 2019. Senior Vice President Transaction Banking and Retail Sales Bank Mandiri
Thomas Wahyudi mengatakan periode Januari - Februari 2019 ada kenaikan transaksi e-
commerce yang signifikan sebesar 73. Pertumbuhan tersebut berasal dari kontribusi
transaksi di retail merchant, dan online travel agent. Di samping itu, beragam promo awal
tahun juga turut mendongkrak pertumbuhan. (Kontan)
CINT: Chitose Internasional (CINT) ekspor perdana matras topper ke Vietnam. PT Chitose
Internasional Tbk (CINT) terus berupaya meningkatkan kinerja di 2019 ini. Melalui anak
perusahaannya, R&D dan Business Development melakukan ekspor produk berupa matras
topper perdana ke Vietnam pada Jumat (22/3). Dedie Suherlan, President Direktur CINT
menjelaskan bahwa dari serangkaian rencana ekspor ke Thailand, Malaysia, Australia dan
Jepang, ekspor ke Vietnam ini merupakan salah satu pembuktian bahwa produk revolusioner
ini sudah dapat diterima oleh konsumen. (Kontan)
WTON: Hingga Maret ini, WTON catatkan kontrak baru Rp 1,4 triliun. PT Wijaya Karya
Beton Tbk (WTON) sampai Maret 2019 sudah mencatat kontrak baru senilai Rp 1,4 triliun.
Jumlah itu baru sebesar 15% dari target kontrak baru yang diperoleh tahun ini sebesar Rp 9
triliun. Direktur Utama WTON Hadian Pramudita mengatakan selama ini memang
kecenderungannya kontrak baru kerap datang pada semester II. "Biasanya di semester I itu
35% sekitar, sisanya di semester II jadi tidak khawatir," (Kontan)
MAPB: Pendapatan MAP Boga Adiperkasa (MAPB) tumbuh 20% tiap high season.
Menyongsong bulan suci Ramadhan dan Idul Fitri 1440 H, PT. MAP Boga Adiperkasa Tbk
atau MAPB akan menyiapkan sejumlah menu khusus atau limited time offer (LTO) yang
disesuaikan dengan brand dan kebutuhan konsumen, terutama paket makanan berat atau
meal. Pihaknya juga akan mengadakan promo-promo menarik seperti buy 1 get 1, diskon
produk, hingga cashback. Setiap musim liburan panjang memang jadi masa yang
menguntungkan. Direktur MAPB Fetty Kwartati mengungkapkan bahwa setiap libur lebaran
atau akhir tahun, pendapatan MAPB naik 15% hingga 20% dibanding periode-periode
lainnya. (Kontan)
BBTN, BMRI: BRI sudah, giliran BTN dan Bank Mandiri bersiap menerbitkan obligasi global.
Bank-bank BUMN di tahun ini giat menjaring pendanaan melalui penerbitan surat utang
berdenominasi dollar AS. Di lain sisi, investor juga menyambut antusias penerbitan obligasi
tersebut. Sustainability global bond milik PT Bank Rakyat Indonesia Tbk contohnya. Surat
utang senilai US$ 500 juta ini oversubscribes hingga delapan kali. Dua bank BUMN lainnya
yaitu PT Bank Tabungan Negara Tbk, dan PT Bank Mandiri Tbk juga punya niat serupa.
(Kontan)
TOBA: Toba Pulp Lestari catat penjualan US$ 121,22 Juta. PT Toba Pulp Lestari Tbk meraih
penjualan bersih sebanyak US$ 121,22 juta pada tahun 2018 atau turun tipis 2,13% dari
tahun 2017 yang sebesar US$ 123,87 juta. Berdasarkan laporan keuangan yang
dipublikasikan pada Rabu (27/3), penjualan diperoleh dari pihak berelasi yaitu kepada DP
Marketing International (MCO) Ltd. Dari segi beban pokok penjualan turun 1,50% menjadi
US$ 104,60 juta dari beban penjualan pada tahun 2017 US$ 106,20 juta. Emiten berkode
saham INRU ini mendapatkan laba kotor sebesar US$ 16,62 juta turun 5,94% dari tahun
sebelumnya US$ 17,67 juta. Laba usaha mereka sepanjang tahun lalu sebanyak US$ 4,74 juta
turun 3,79% dari tahun 2017 sebanyak US$ 5,53 juta. (Kontan)
28 Maret, 2019
4
Embun Pagi
Mirae Asset Sekuritas Indonesia
Technical analysis
Tasrul +62-21-515-1140 [email protected]
Jakarta Composite Index (JCI) – Consolidation
IHSG akan coba bertahan sekitar normal lower band pada pola uptrend jangka
pendek.
IHSG saat ini berada diluar pola uptrend jangka jangka pendek dimana korelasi
pergerakkan indeks ini masih relatif valid (r-squared = 0.88866) sejak 118 hari terakhir
dimana bergerak normal dalam rentang +/- 1.59 std.deviasi dari centerline. Peluang
IHSG bergerak di luar pergerakan normal sekitar +11.34% atau sekitar 13.3 bar chart.
Rata-rata volatilitas normal pergerakan IHSG secara harian saat ini antara +0.45% / -
0.46 % atau +29.00/ -29.65 point (rata-rata pergerakan normal positif / negatif selama
periode analisis) sebagaimana terlihat pada Figure 1.
Summary
Item Data Item Data
Close (March 27, 2019) 6,444.74(-0.39%) Trading range 6,429 - 6,487
8Average index performance (%) 3.21 Target
Period 118 - Daily 6,487
r-squared 0.8866 - Weekly 6,507
Volatility (+/-, %) +0.45/ -0.46 - Monthly 6,600
Volatility (+/-, point) +29.00/ -29.65 Stop loss 6,394
Source: Mirae Asset Sekuritas Indonesia Research
Figure 1. Daily , Short term trend – Uptrend
4 - 6,161 Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,487.3
_____ 6,428.6
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
^JKSE [ ^JKSE ] - Daily - 3/27/2019 Open: 6,481 High: 6,485 Low: 6,444 Close: 6,445 Vol. 9,353,605,120
Prev. Avg. Price: 6,458.0
R-Squared: 0.8866
Period: 118
Std.Dev: 1.59
Volatility (+) : 0.0045
Volatility (-) : -0.0046
V-Ratio : 0.99
Chg.: -0.39%
6,444.74
6,394.2
6,343.15
6,461.16
6,488.8
6,636.32
6,636.32
6,783.84
6,878.44
Sep Oct Nov Dec 2019 Feb Mar
^JKSE - Volume = 9,353,605,120.00, MA(Volume,11) = 10,858,930,176.00
9,353,605,120
10,858,930,176
28 Maret, 2019
5
Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana keluar dan volatilitas indeks turun akan coba ditahan.
Pada Figure 2, terlihat dari hasil optimalisasi terakhir pada periode daily indikator MFI
optimized dan indicator W%R optimized menguji support trendline .Pada periode
weekly ,indikator MFI optimized masih cenderung naik dan indikator RSI optimized
akan menguji support trendline. Daily resistance terdekat di 6,487 dan support di 6,429.
Cut loss level di 6,394..
Figure 2. Daily, Short term trend, MFI optimized & W%R optimized
X` x`x`
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
^JKSE - MFI Smoothed = 49.41
49.4115
^JKSE - Will%R Smoothed = -36.88
-36.8834
_____ 6,487.3_____ 6,428.6
Optimization Trading System - ©2010 Optimization Trading System - ©2010
^JKSE [ ^JKSE ] - Daily - 3/27/2019 Open: 6,481 High: 6,485 Low: 6,444 Close: 6,445 Vol. 9,353,605,120
Prev. Avg. Price: 6,458.0
R-Squared: 0.8866
Period: 118
Std.Dev: 1.59
Volatility (+) : 0.0045
Volatility (-) : -0.0046
V-Ratio : 0.99
Chg.: -0.39%
6,444.74
6,343.15
6,461.16
Sep Oct Nov Dec 2019 Feb Mar
^JKSE - Volume = 9,353,605,120.00, MA(Volume,10) = 10,937,516,032.00
9,353,605,120
10,937,516,032
28 Maret, 2019
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Embun Pagi
Mirae Asset Sekuritas Indonesia
Figure 3. Weekly Trend – Uptrend, MFI optimized & RSI optimized
A
Source: Mirae Asset Sekuritas Indonesia Research
IHSG akan coba bertahan diatas level 6,458
Pada pergerakkan daily, rata-rata koreksi normal sekitar +0.46% saat ini di -0.39%
Sementara itu pada pergerakan weekly koreksi normal rata-rata sekitar -1.50%,
sementara saat ini di level -1.23%. Pada pergerakan monthly saat ini di level +0.02%,
normal kenaikkan di +2.50%. Dengan demikian diperkirakan hari ini terlihat potensi
koreksi sementara atau konsolidasi.. Pada Figure 4,5 dan 6 terlihat perkiraan normal
trading range untuk masing-masig periode.
Figure 4. Daily : 6,429 – 6,487 Figure 5. Weekly : 6,344 – 6,507 Figure 6. Monthly : 6,249– 6,600
x
x x`
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
^JKSE - MFI Smoothed = 47.50
47.5034
^JKSE - RSI Smoothed = 51.91
51.9061
_____ 6,507.3
_____ 6,344.1
Optimization Trading System - ©2010 - Powered by AMTA Optimization Trading System - ©2010 - Powered by AMTA Optimization Trading System - ©2010 - Powered by AMTA Optimization Trading System - ©2010 - Powered by AMTA
^JKSE [ ^JKSE ] - Weekly - 3/27/2019 Open: 6,474 High: 6,485 Low: 6,392 Close: 6,445 Vol. 28,927,252,480
Prev. Avg. Price: 6,440.6
R-Squared: 0.8473
Period: 30
Std.Dev: 1.44
Volatility (+) : 0.0104
Volatility (-) : -0.0150
V-Ratio : 0.69
Chg.: -1.23%
6,444.74
6,429.2
6,252.79
6,249.28
6,471.17
6,586.83
6,586.83
6,744.47
Jul Oct 2018 Apr Jul Oct 2019
^JKSE - Volume = 28,927,252,480.00, MA(Volume,8) = 46,498,488,320.00
28,927,252,480
46,498,488,320
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,487.3
_____ 6,428.6
6,458.0
^JKSE [ ^JKSE ] - Daily - 3/27/2019 Open:
Prev. Avg. Price: 6,458.0
R-Squared: 0.8866
Period: 118
Std.Dev: 1.59
Volatility (+) : 0.0045
Volatility (-) : -0.0046
V-Ratio : 0.99
Chg.: -0.39%
6,444.74
18 25
^JKSE - Volume = 9,353,605,120.00
9,353,605,120
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,507.3
_____ 6,344.1
6,440.6
^JKSE [ ^JKSE ] - Weekly - 3/27/2019 Open:
Prev. Avg. Price: 6,440.6
R-Squared: 0.8473
Period: 30
Std.Dev: 1.44
Volatility (+) : 0.0104
Volatility (-) : -0.0150
V-Ratio : 0.69
Chg.: -1.23%
6,444.74
15 Mar 15
^JKSE - Volume = 28,927,252,480.00
28,927,252,480
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 6,600.9
_____ 6,249.4
6,439.9
^JKSE [ ^JKSE ] - Monthly - 3/27/2019 Open:
Prev. Avg. Price: 6,439.9
R-Squared: 0.8475
Period: 45
Std.Dev: 1.44
Volatility (+) : 0.0250
Volatility (-) : -0.0296
V-Ratio : 0.84
Chg.: 0.02%
6,444.74
Oct 2019
^JKSE - Volume = 181,668,265,984.00
181,668,265,984
28 Maret, 2019
7
Embun Pagi
Mirae Asset Sekuritas Indonesia
Stocks on our focus list
PP Property (PPRO) – Daily , Trading Buy
Harga akan coba bertahn diatas abnormal lower band pada uptrend channel
Secara umum harga saham ini berada diluar pola uptrend channel periode daily dimana
korelasi pergerakkan harga masih relatif valid (r-squared = 0.874) selama 116 hari
terakhir yang bergerak normal dalam rentang +/- 1.53 std.deviasi dari center line.
Peluang harga keluar dari pergerakan normal sekitar +12.62% (sekitar 17 bar chart ).
Rata-rata volatilitas normal pergerakan harga saat ini antara +2.47%/-2% atau +3.71
rupiah/ -3.00 rupiah (rata-rata pergerakan normal positif / negatif, selama periode
analisis) sebagaimana terlihat pada Figure 7.
Summary
Item Data Item Data
Close (March 27, 2019) 150 (-1.32%) Trading range 147 - 154
Relative Avg. Price performance to JCI (%) 7.80 Target
β (beta) 1.90 - Daily 154
Corelation 0.96 - Weekly 158
Period 116 - Monthly 170
r-squared 0.874 Stop loss 146
Volatility (+/-, %) +2.47/ -2
Volatility (+/-, Rp.) +3.71/-3.00
Source: Mirae Asset Sekuritas Indonesia Research
Figure 7. Daily trend – Uptrend
ource: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 153.7
_____ 147.0
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
PPRO.JK [ PPRO.JK ] - Daily - 3/27/2019 Open: 153 High: 153 Low: 147 Close: 150 Vol. 24,617,100
Prev. Avg. Price: 150.0
R-Squared: 0.8738
Period: 116
Std.Dev: 1.53
Volatility (+) : 0.0247
Volatility (-) : -0.0200
V-Ratio : 1.24
Chg.: -1.32%
150
149.024
147
154.019
158.247
171.795
171.795
185.343
196.59
Oct Nov Dec 2019 Feb Mar
PPRO.JK - Volume = 24,617,100.00, MA(Volume,5) = 19,998,340.00
24,617,100
19,998,340
28 Maret, 2019
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Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana keluar dan volatilitas harga turun masih terlihat namun mulai terbatas.
Pada Figure 8, terlihat dari hasil optimasi pada indikator MFI optimized dan RSI
optimized akan menguji support trendline. Daily support 147 dan resistance di 154. Cut
loss level di 146.
Figure 8. Daily, MFI optimized & RSI optimized
X`Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
PPRO.JK - MFI Smoothed = 8.90
8.9029
PPRO.JK - RSI Smoothed = 17.09
17.0949
_____ 153.7
_____ 147.0
Optimization Trading System - ©2010 Optimization Trading System - ©2010
PPRO.JK [ PPRO.JK ] - Daily - 3/27/2019 Open: 153 High: 153 Low: 147 Close: 150 Vol. 24,617,100
Prev. Avg. Price: 150.0
R-Squared: 0.0962
Period: 931
Std.Dev:
Volatility (+) : 0.0247
Volatility (-) : -0.0199
V-Ratio : 1.24
Chg.: -1.32%
150
149.024
154.019
Nov Dec 2019 Feb Mar
PPRO.JK - Volume = 24,617,100.00, MA(Volume,5) = 19,998,340.00
24,617,100
19,998,340
28 Maret, 2019
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Embun Pagi
Mirae Asset Sekuritas Indonesia
Harga akan coba naik dan bertahan diatas rata-rata pada masing-masing periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan
diatas rata-rata masing-masing periode (positive area). Pada pergerakkan daily harga
saat ini di level -1.32%. Normal koreksi -2.0%. Pada pergerakkan weekly koreksi normal
di level -4.13% namun sudah masuk minggu ke tiga, saat ini di level -4.46%. Sementara
itu pada pergerakan monthly saat ini di -4.46% dan normal koreksi -9.69%. Dengan
demikian potensi koreksi secara umum mulai terbatas.Pada Figure 9,10 dan 11 terlihat
perkiraan normal trading range untuk masing-masing periode.
Figure 9. Daily : 147 – 154 Figure 10. Weekly : 145 – 158 Figure 11. Monthly : 140 – 170
x`x`
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 153.7
_____ 147.0
150.0
PPRO.JK [ PPRO.JK ] - Daily - 3/27/2019
Prev. Avg. Price: 150.0
R-Squared: 0.8738
Period: 116
Std.Dev: 1.53
Volatility (+) : 0.0247
Volatility (-) : -0.0200
V-Ratio : 1.24
Chg.: -1.32%
150
18 25
PPRO.JK - Volume = 24,617,100.00
24,617,100
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 158.2
_____ 145.1
151.3
PPRO.JK [ PPRO.JK ] - Weekly - 3/27/2019
Prev. Avg. Price: 151.3
R-Squared: 0.8556
Period: 129
Std.Dev: 1.46
Volatility (+) : 0.0452
Volatility (-) : -0.0413
V-Ratio : 1.09
Chg.: -4.46%
150
15 Mar 15
PPRO.JK - Volume = 66,660,500.00
66,660,500
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 170.7
_____ 140.3
155.3
PPRO.JK [ PPRO.JK ] - Monthly - 3/27/2019
Prev. Avg. Price: 155.3
R-Squared: 0.8528
Period: 31
Std.Dev: 1.45
Volatility (+) : 0.0988
Volatility (-) : -0.0969
V-Ratio : 1.02
Chg.: -4.46%
150
Oct 2019
PPRO.JK - Volume = 507,968,384.00
507,968,384
28 Maret, 2019
10
Embun Pagi
Mirae Asset Sekuritas Indonesia
AKR Corporindo (AKRA) – Weekly , Buy on Weakness
Harga akan coba naik mendekati normal lower band pada uptrend channel
Secara umum harga saham ini masih berada diluar pola uptrend channel pada
pergerakkan weekly dimana korelasi pergerakkan harga masih relatif valid (r-squared =
0.793) selama 30 mimggu terakhir dan bergerak normal dalam rentang +/-1.26
std.deviasi dari center line. Peluang harga keluar dari pergerakan normal sekitar +20.07%
(sekitar 6 bar chart ). Rata-rata volatilitas normal pergerakan harga saat ini antara
+4.25% /-4.50 % atau +206.13 rupiah / -218.25 rupiah (rata-rata pergerakan normal
positif / negatif, selama periode analisis) sebagaimana sebagaimana terlihat pada
Figure 12.
Summary
Item Data Item Data
Close (March 27, 2019) 4,850(+4.75%) Trading range 4,510 - 4,930
Relative Avg. Price performance to JCI (%) 15.60 Target
β (beta) 0.61 - Daily 4,990
Corelation 0.90 - Weekly 4,930
Period 30 - Monthly 5,500
r-squared 0.793 Stop loss 4,450
Volatility (+/-, %) +4.25/ -4.50
Volatility (+/-, Rp.) +206.13/ -218.25
Source: Mirae Asset Sekuritas Indonesia Research
Figure 12. Weekly – Uptrend
x`
Source: Mirae Asset Sekuritas Indonesia Research
,
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 4,927.5
_____ 4,514.0
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
AKR Corporindo T [ AKRA.JK ] - Weekly - 3/27/2019 Open: 4,610 High: 4,880 Low: 4,450 Close: 4,850 Vol. 36,874,500
Prev. Avg. Price: 4,726.7
R-Squared: 0.7930
Period: 30
Std.Dev: 1.26
Volatility (+) : 0.0425
Volatility (-) : -0.0450
V-Ratio : 0.94
Chg.: 4.75%
4,850
4,604.42
4,450
5,045.97
5,235.35
5,493.91
5,493.91
5,941.86
6,537.83
May 31 Jun Jul Aug 16 Sep 20 Oct Nov Dec 2019 Feb Mar 27
AKRA.JK - Volume = 36,874,500.00, MA(Volume,6) = 33,502,216.00
36,874,500
33,502,216
28 Maret, 2019
11
Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana keluar dan volatilitas harga turun mulai tertahan.
Pada Figure 13, terlihat dari hasil optimalisasi indikator MFI optimized dan RSI
optimized sudah berada sekitar support trendline. Weekly support di 4,510
sementara itu weekly resistance di 4,930. Cut loss level di 4,450.
Figure 13. Weekly , MFI optimized & RSI optimized
,
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
AKRA.JK - MFI Smoothed = 2.14
2.13737
AKRA.JK - RSI Smoothed = 35.81
35.8075
_____ 4,927.5
_____ 4,514.0
Optimization Trading System - ©2010 Optimization Trading System - ©2010
AKR Corporindo T [ AKRA.JK ] - Weekly - 3/27/2019 Open: 4,610 High: 4,880 Low: 4,450 Close: 4,850 Vol. 36,874,500
Prev. Avg. Price: 4,726.7
R-Squared: 0.7930
Period: 30
Std.Dev: 1.26
Volatility (+) : 0.0425
Volatility (-) : -0.0450
V-Ratio : 0.94
Chg.: 4.75% 4,850
4,604.42
5,235.35
Jul Oct 2018 Apr Jul Oct 2019
AKRA.JK - Volume = 36,874,500.00, MA(Volume,6) = 33,502,216.00
36,874,500
33,502,216
28 Maret, 2019
12
Embun Pagi
Mirae Asset Sekuritas Indonesia
Harga saat ini akan coba naik dan bertahan diatas rata-rata pada masing-masing
periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan
diatas rata-rata masing-masing periode (positive area) . Lebih lanjut potensi kenaikkan
normal harga pada pergerakkan daily sekitar +1.87% saat ini di level +1.46%.
Sementara itu pada pergerakkan weekly kenaikkan normal sekitar +4.25% saat ini
harga di level +4.75%. Pada pergerakan monthly koreksi normal sekitar -7.34% saat ini di
-12.61%. Dengan demikian diperkirakan potensi kenaikkan pada pergerakkan weekly
sementara akan tertahan dan cenderung konsolidasi Pada Figure 14,15 dan 16 terlihat
perkiraan normal trading range untuk masing-masing periode.
Figure 14. Daily : 4,720 – 4,990 Figure 15. Weekly : 4,510 – 4,930 Figure 16. Monthly : 4,620 – 5,500
, x`
x
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 4,896.4
_____ 4,719.2 4,806.7
4,988
AKR Corporindo T [ AKRA.JK ] - Daily - 3/27/2019
Prev. Avg. Price: 4,806.7
R-Squared: 0.7993
Period: 111
Std.Dev: 1.27
Volatility (+) : 0.0187
Volatility (-) : -0.0182
V-Ratio : 1.03
Chg.: 1.46%
4,850
18 25
AKRA.JK - Volume = 11,319,000.00
11,319,000
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 4,927.5
_____ 4,514.0
4,726.7
AKR Corporindo T [ AKRA.JK ] - Weekly
Prev. Avg. Price: 4,726.7
R-Squared: 0.7930
Period: 30
Std.Dev: 1.26
Volatility (+) : 0.0425
Volatility (-) : -0.0450
V-Ratio : 0.94
Chg.: 4.75%
4,850
8 15 Mar 15
AKRA.JK - Volume = 36,874,500.00
36,874,500
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 5,505.8
_____ 4,617.7
4,983.3
AKR Corporindo T [ AKRA.JK ] - Monthly
Prev. Avg. Price: 4,983.3
R-Squared: 0.8373
Period: 195
Std.Dev: 1.40
Volatility (+) : 0.1049
Volatility (-) : -0.0734
V-Ratio : 1.43
Chg.: -12.61%
4,850
Oct 2019
AKRA.JK - Volume = 138,046,816.00
138,046,816
28 Maret, 2019
13
Embun Pagi
Mirae Asset Sekuritas Indonesia
Mitra Adiperkasa (MAPI) – Daily , Buy on Weakness
Harga akan coba naik mendekati normal lower band pada uptrend channel.
Secara umum harga saham ini masih berada diluar pola uptrend channel dimana
korelasi pergerakkan harga masih relatif valid (r-squared = 0.869) selama 74 hari
terakhir dan bergerak normal dalam rentang +/- 1.52 std.deviasi dari centerline.
Peluang harga keluar dari pergerakan normalnya sekitar +13.09% (sekitar 9 bar chart ).
Rata-rata volatilitas normal pergerakan harga saat ini antara +1.96%/ -1.66% atau
+19.50 rupiah / -16.52 rupiah (rata-rata pergerakan normal positif / negatif, selama
periode analisis) sebagaimana terlihat pada Figure 17.
Summary
Item Data Item Data
Close (March 27, 2019) 995(-1.00%) Normal trading range 980 – 1,020
Relative Avg. Price performance to JCI (%) 8.15 Target
β (beta) 0.59 - Daily 1,020
Corelation 0.85 - Weekly 1,060
Period 74 - Monthly 1,120
r-squared 0.869 Stop loss 980
Volatility (+/-, %) +1.96/ -1.66
Volatility (+/-, Rp.) 19.50/ -16.52
Source: Mirae Asset Sekuritas Indonesia Research
Figure 17. Daily Trend – Uptrend
Source: Mirae Asset Sekuritas Indonesia Research
,
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,019.6
_____ 983.4
Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010 Optimization Trading System - ©2010
Mitra Adiperkasa Tbk [ MAPI.JK ] - Daily - 3/27/2019 Open: 1,005 High: 1,015 Low: 990 Close: 995 Vol. 9,284,800
Prev. Avg. Price: 1,000.0
R-Squared: 0.8691
Period: 74
Std.Dev: 1.52
Volatility (+) : 0.0196
Volatility (-) : -0.0166
V-Ratio : 1.18
Chg.: -1.00%
995
990
982.099
1,061.05
1,061.28
1,124.15
1,124.15
1,187.02
1,258.3
Dec 2019 Feb Mar
MAPI.JK - Volume = 9,284,800.00, MA(Volume,10) = 14,050,230.00
9,284,800
14,050,230
28 Maret, 2019
14
Embun Pagi
Mirae Asset Sekuritas Indonesia
Aliran dana keluar dan volatilitas harga turun mulai terbatas.
Pada Figure 18, terlihat dari hasil optimalisasi. Indikator MFI optimized dan indkator
W%R optimized akan menguji support trendline. Dengan demikian diperkirakan potensi
koreksi mulai terbatas. Perkiraan daily support di 980 dan daily resistance di 1,020. Cut
loss level di 980.
Figure 18. Daily ,MFI optimized & W%R optimized
Source: Mirae Asset Sekuritas Indonesia Research
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
MAPI.JK - MFI Smoothed = 12.80
12.8027
MAPI.JK - Will%R Smoothed = -93.30
-93.3007
_____ 1,019.6
_____ 983.4
Optimization Trading System - ©2010 Optimization Trading System - ©2010
Mitra Adiperkasa Tbk [ MAPI.JK ] - Daily - 3/27/2019 Open: 1,005 High: 1,015 Low: 990 Close: 995 Vol. 9,284,800
Prev. Avg. Price: 1,000.0
R-Squared: 0.8691
Period: 74
Std.Dev: 1.52
Volatility (+) : 0.0196
Volatility (-) : -0.0166
V-Ratio : 1.18
Chg.: -1.00%
995
982.099
1,069.22
Oct Nov Dec 2019 Feb Mar
MAPI.JK - Volume = 9,284,800.00, MA(Volume,10) = 14,050,230.00
9,284,800
14,050,230
28 Maret, 2019
15
Embun Pagi
Mirae Asset Sekuritas Indonesia
Harga akan coba bertahan diatas rata-rata pada masing-masing periode.
Untuk mampu naik lebih lanjut, harga saham saat ini harus mampu minimal bertahan
diatas rata-rata masing-masing periode (positive area) . Jika dilihat lebih lanjut potensi
koreksi pada pergerakkan daily sekitar -1.61%, saat ini di level -1.00%. Pada pergerakkan
weekly potensi koreksi normal sekitar -3.41%, saat ini di level -7.87% dan telah
memasuki minggu ke dua. Sementara pergerakkan monthly saat ini level -6.13%
sementara koreksi normal di -7.42%. Dengan demikian potensi koreksi pada pergerakkan
weekly sementara akan tertahan dengan kecenderungan menguat. Pada Figure 19,20
dan 21 terlihat perkiraan normal trading range untuk masing-masing periode.
Figure 19. Daily : 980 – 1,020 Figure 20. Weekly : 990 – 1,060 Figure 21. Monthly : 960 – 1,120
,,
x` x,
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Source: Mirae Asset Sekuritas Indonesia Research
Relative Avg.Price Performance to JCI (%) : Persentase kenaikan harga saham dari rata-rata sejak IHSG memulai uptrend-nya β (beta) : Indikator sensitivitas harga saham terhadap IHSG, beta diatas 1 berarti harga makin sensitif terhadap pergerakan IHSG dan sebaliknya Correlation : Ukuran kuat hubungan (korelasi) pergerakan harga saham dibanding dengan pergerakan IHSG selama periode analisis. Period : Periode uptrend / downtrend yang valid dari pergerakan harga saham. r-squared : Koefisien determinasi, menunjukkan persentase gerakan yang dapat dijelaskan dengan regresi linier.Nilai R2 terletak antara 0 – 1, dan kecocokan model dikatakan lebih baik kalau R2 semakin mendekati 1 (validitas uptrend atau downtrend makin valid) Volatility (+/-%) : Besaran volatilitas normal positif/negatif dari pergerakan harga harian selama harga saham bergerak normal pada trend channel dalam persentase. Volatility (+/- point or Rp) : Besaran volatilitas normal positifl/negatif dari pergerakan harga harian selama harga saham bergerak dalam periode analisis.
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,017.5
_____ 983.9
1,000
Mitra Adiperkasa Tbk [ MAPI.JK ] - Daily
Prev. Avg. Price: 1,000.0
R-Squared: 0.8691
Period: 74
Std.Dev: 1.52
Volatility (+) : 0.0175
Volatility (-) : -0.0161
V-Ratio : 1.09
Chg.: -1.00%
995
20
MAPI.JK - Volume = 9,284,800.00
9,284,800
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,063.6
_____ 988.4
1,023.3
Mitra Adiperkasa Tbk [ MAPI.JK ] - Weekly
Prev. Avg. Price: 1,023.3
R-Squared: 0.7351
Period: 30
Std.Dev: 1.11
Volatility (+) : 0.0394
Volatility (-) : -0.0341
V-Ratio : 1.16
Chg.: -7.87%
995
8 15 Mar 15
MAPI.JK - Volume = 58,515,100.00
58,515,100
Created with AmiBroker - adv anced charting and technical analy sis sof tware. http://www.amibroker.com
_____ 1,123.2
_____ 958.2
1,035.0
Mitra Adiperkasa Tbk [ MAPI.JK ] - Monthly
Prev. Avg. Price: 1,035.0
R-Squared: 0.4181
Period: 30
Std.Dev:
Volatility (+) : 0.0852
Volatility (-) : -0.0742
V-Ratio : 1.15
Chg.: -6.13%
995
Oct 2019
MAPI.JK - Volume = 248,384,192.00
248,384,192
28 Maret, 2019
16
Embun Pagi
Mirae Asset Sekuritas Indonesia
Chart 22. JCI Vs. USD/IDR Chart 23. JCI performance (absolute vs. relative)
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Note: Relative to MSCI EM Index
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Chart 24. Foreigner’s net purchase (EM) Chart 25. Energy price
V
Note: The latest figure for India are March 26th, 2019
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
Chart 26. Non-ferrous metal price Chart 27. Precious metal price
Source: Bloomberg, Mirae Asset Sekuritas Indonesia Source: Bloomberg, Mirae Asset Sekuritas Indonesia
13,800
14,200
14,600
15,000
15,400
5,400
5,800
6,200
6,600
12/26 1/23 2/20 3/20
(IDR) (pt) JCI (L) USD/IDR (R)
-0.4 -0.6
0.0
4.9
0.2
1.8 0.7
15.1
-4
0
4
8
12
16
1D 1W 1M 1Y
Absolute Relative(%, %p)
-13
-91 -30 -71
6
129 226
250
12
-54
56
758
-200
-100
0
100
200
300
400
500
600
700
800
900
Korea Taiwan Indonesia Thailand Philippines India
1 Day 5 Days (USDmn) (USDmn)
80
90
100
110
6/27 7/25 8/22 9/19
CPO WTI Coal(D-3M=100) (D-3M=100)
50
60
70
80
90
100
110
120
130
140
12/26 1/23 2/20 3/20
CPO WTI Coal(D-3M=100)
90
100
110
120
130
12/18 01/19 02/19 03/19
(D-3M=100) Copper Nickel Tin
85
95
105
115
125
12/18 01/19 02/19 03/19
(D-3M=100) Silver Gold Platinum
28 Maret, 2019
17
Embun Pagi
Mirae Asset Sekuritas Indonesia
Table. Key valuation metrics
Company Name Ticker Price Market Cap Price Performance (%) P/E(X)* P/B(X)* ROE(%)*
(IDR) (IDRbn) 1D 1W 1M 1Y FY18 FY19 FY18 FY19 FY18 FY19
Jakarta Composite Index JCI 6,445 7,353,330 -0.4 -0.6 0.0 4.9 15.4 13.8 2.3 2.1 17.7 6.2
FINANCIALS
Bank Central Asia BBCA 27,250 671,849 -0.3 -1.2 -1.2 16.8 24.8 26.2 4.2 4.5 18.3 18.3
Bank Mandiri Persero BMRI 7,175 334,833 -2.7 -3.7 0.7 -8.0 13.8 13.9 1.9 1.9 14.4 13.9
Bank Rakyat Indonesia Persero BBRI 4,040 498,317 -0.5 1.5 4.9 13.8 13.8 15.3 2.4 2.7 18.5 18.4
Bank Negara Indonesia Persero BBNI 9,375 174,831 0.0 0.3 6.5 8.4 10.9 11.4 1.5 1.6 14.5 14.6
Bank Tabungan Negara Persero BBTN 2,450 25,946 -1.2 2.5 0.8 -33.6 21.5 20.9 1.8 2.1 9.8 10.5
CONSUMER
HM Sampoerna HMSP 3,760 437,356 -1.1 0.3 -1.1 -6.2 32.0 33.1 12.2 12.5 39.0 38.2
Gudang Garam GGRM 84,200 162,008 0.0 -6.4 -1.4 18.8 19.9 16.8 3.6 3.2 18.6 19.8
Indofood CBP Sukses Makmur ICBP 9,175 106,998 -3.9 -11.6 -10.3 8.3 26.7 24.2 5.6 4.8 22.2 20.9
Indofood Sukses Makmur INDF 6,550 57,512 -5.1 -10.0 -7.4 -8.1 15.7 14.4 1.9 1.7 12.8 12.2
Kalbe Farma KLBF 1,515 71,016 -0.3 0.0 1.3 5.2 29.0 27.3 4.9 4.4 17.5 16.9
Unilever Indonesia UNVR 48,900 373,107 1.3 -1.7 0.5 -1.0 38.0 46.7 45.7 59.1 142.9 139.8
AGRICULTURAL
Astra Agro Lestari AALI 11,300 21,749 0.0 -6.6 -8.9 -17.5 15.8 14.6 1.2 1.2 7.7 7.6
PP London Sumatera Indonesia LSIP 1,060 7,232 -1.9 -8.6 -13.1 -17.5 25.5 14.1 1.0 0.9 4.0 5.8
Sawit Sumbermas Sarana SSMS 1,045 9,954 -2.8 -2.8 -4.1 -26.9 17.7 29.9 2.3 2.2 12.8 7.3
INFRASTRUCTURE
XL Axiata EXCL 2,690 28,751 0.0 -0.4 12.1 6.7 N/A 749.1 1.2 1.3 -16.5 0.3
Jasa Marga JSMR 5,650 41,007 4.6 6.6 8.1 25.8 14.1 18.2 1.8 2.3 13.8 12.6
Perusahaan Gas Negara PGAS 2,350 56,968 -0.8 -2.5 -7.5 3.1 11.2 15.0 1.4 1.3 9.7 8.2
Tower Bersama Infrastructure TBIG 4,000 18,126 -3.6 7.8 0.5 -28.6 20.1 17.5 5.6 5.1 27.3 28.9
Telekomunikasi Indonesia TLKM 3,820 378,418 0.0 1.1 -1.0 8.0 19.4 16.9 3.9 3.6 19.6 20.5
Soechi Lines SOCI 156 1,101 0.0 0.0 -2.5 -38.6 N/A N/A N/A N/A N/A N/A
Garuda Indonesia GIAA 486 12,581 5.2 -16.2 -10.8 65.3 N/A N/A 0.8 1.1 -19.1 -12.0
BASIC-INDUSTRIES
Semen Indonesia SMGR 13,775 81,707 -0.7 5.8 8.9 39.5 32.5 28.9 2.7 2.6 8.3 8.8
Charoen Pokphand Indonesia CPIN 7,575 124,215 -4.1 0.0 3.8 135.2 27.6 25.6 6.5 5.6 25.3 22.9
Indocement Tunggal Prakarsa INTP 21,000 77,306 -1.9 7.6 9.2 27.5 59.3 72.4 2.9 3.5 4.8 5.3
Japfa Comfeed Indonesia JPFA 2,150 25,212 0.0 -2.3 -4.0 46.8 11.5 10.7 2.6 2.3 24.5 22.1
MINING
Indo Tambangraya Megah ITMG 23,800 26,892 -0.7 4.3 11.3 -15.4 5.8 7.1 1.6 1.9 27.1 27.0
Adaro Energy ADRO 1,345 43,021 -1.5 -5.9 2.7 -34.1 6.4 7.3 0.7 0.8 11.7 11.8
Aneka Tambang ANTM 900 21,628 -1.6 -6.3 -11.3 16.9 21.0 27.3 0.9 1.2 4.6 3.9
Vale Indonesia INCO 3,370 33,485 -1.5 -5.9 -9.9 22.5 36.8 33.8 1.2 1.2 3.3 4.0
Tambang Batubara Bukit Asam PTBA 4,080 47,004 -4.0 0.7 2.5 40.2 9.0 9.3 2.8 2.8 33.9 35.3
TRADE
United Tractors UNTR 27,200 101,460 0.2 -2.2 2.6 -14.5 9.2 9.0 1.9 1.9 22.4 22.1
AKR Corporindo AKRA 4,850 19,471 1.5 2.3 -12.6 -13.4 24.0 21.9 2.1 2.3 20.7 13.1
Global Mediacom BMTR 336 5,043 1.8 -8.2 -15.2 -37.8 N/A N/A N/A N/A N/A N/A
Matahari Department Store LPPF 3,910 11,409 -0.5 -5.6 -32.0 -63.1 14.9 6.7 8.8 3.6 53.0 65.7
Media Nusantara Citra MNCN 755 10,778 2.0 -8.5 -19.3 -45.7 7.7 6.6 1.0 0.9 14.1 14.9
Matahari Putra Prima MPPA 270 2,033 -0.7 -6.3 -29.3 -32.8 N/A N/A N/A N/A N/A N/A
Surya Citra Media SCMA 1,660 24,272 -0.9 -4.9 -5.1 -37.6 15.8 14.5 5.5 4.9 34.7 33.6
Siloam International Hospital SILO 3,530 5,739 0.9 -7.1 3.8 -56.6 360.8 120.9 0.9 0.9 0.3 0.8
PROPERTY
Bumi Serpong Damai BSDE 1,480 28,485 -0.3 5.7 9.2 -14.9 18.6 15.5 1.3 1.0 21.4 6.7
Adhi Karya ADHI 1,585 5,644 2.6 -1.6 5.7 -24.5 7.2 5.8 0.9 0.8 11.8 13.1
Alam Sutera Relaty ASRI 312 6,131 0.0 -1.9 -3.7 -18.3 5.6 4.8 0.6 0.6 11.2 12.5
Ciputra Development CTRA 1,015 18,839 -1.9 9.1 16.0 -11.4 18.2 17.8 1.3 1.2 7.0 6.8
Lippo Karawaci LPKR 294 6,788 0.0 0.0 -5.8 -38.5 8.9 5.9 0.3 0.3 3.3 5.6
Pembangunan Perumahan PTPP 2,050 12,710 2.0 -1.9 2.5 -23.5 7.5 8.0 0.9 0.9 12.4 12.5
Pakuwon Jati PWON 690 33,230 -2.8 0.7 11.3 13.1 11.7 14.6 2.4 2.7 22.2 19.1
Summarecon Agung SMRA 950 13,705 -2.1 3.3 1.1 6.1 25.9 38.7 2.1 2.1 5.7 5.4
Wijaya Karya WIKA 2,080 18,657 5.6 4.5 16.5 22.7 8.6 12.3 1.0 1.3 12.6 10.8
Waskita Karya WSKT 1,955 26,537 2.6 1.3 4.3 -22.7 6.5 6.9 1.2 1.0 19.5 15.7
MISCELLANEOUS
Astra International ASII 7,100 287,433 -0.7 -2.1 -0.7 0.0 15.4 12.9 2.4 2.1 16.6 16.5
Source: Bloomberg, Mirae Asset Sekuritas Indonesia
*Note: Valuation metrics based on Bloomberg consensus estimates
28 Maret, 2019
18
Embun Pagi
Mirae Asset Sekuritas Indonesia
Sector performance Top 10 market cap performance
Name Index Chg (%) Ticker Price Market Cap (IDRbn) Chg (%)
Agricultural 1,470.0 -0.2 WIKA IJ 2080 18,657 5.58
Mining 1,856.0 -0.8
GIAA IJ 486 12,581 5.2
Basic-Industry 907.0 -1.2 ABMM IJ 2080 5,727 5.1
Miscellaneous Industry 1,259.8 -0.5 BSSR IJ 2480 6,489 4.64
Consumer Goods 2,607.7 -0.5 JSMR IJ 5650 41,007 4.63
Property & Construction 464.0 0.5
SMRU IJ 482 6,025 3.88
Infrastructure 1,158.9 0.0 BCAP IJ 161 6,204 3.87
Finance 1,248.9 -0.5 KAEF IJ 3280 18,217 3.47
Trade 822.7 0.4 AMRT IJ 900 37,372 3.45
Composite 6,444.7 -0.4 MAYA IJ 7400 49,983 3.14 Source: Bloomberg
Top 5 leading movers Top 5 lagging movers
Name Chg (%) Close Name Chg (%) Close
UNVR IJ 1.4 48,900 BMRI IJ -2.7 7,175
JSMR IJ 4.6 5,650 CPIN IJ -4.1 7,575
SMMA IJ 2.9 9,000 HMSP IJ -1.1 3,760
MAYA IJ 3.1 7,400 ICBP IJ -3.9 9,175
AMRT IJ 3.5 900 INDF IJ -5.1 6,550 Source: Bloomberg
Economic Calendar
Time Currency Detail Forecast Previous
4:30am USD FOMC Member George Speaks
7:00am NZD ANZ Business Confidence -30.9
All Day EUR German Prelim CPI m/m 0.6% 0.4%
3:00pm EUR Spanish Flash CPI y/y 1.4% 1.1%
4:00pm EUR M3 Money Supply y/y 3.9% 3.8%
4:00pm EUR Private Loans y/y 3.3% 3.2%
Tentative EUR Italian 10-y Bond Auction 2.81|1.3
6:15pm USD FOMC Member Quarles Speaks
7:30pm USD Final GDP q/q 2.4% 2.6%
7:30pm USD Final GDP Price Index q/q 1.8% 1.8%
7:30pm USD Unemployment Claims 222K 221K
8:30pm USD FOMC Member Clarida Speaks
9:00pm USD FOMC Member Bowman Speaks
9:00pm USD Pending Home Sales m/m 0.1% 4.6%
9:30pm USD Natural Gas Storage -43B -47B
Note: Time is based on Indonesian local time
Source: Forex Factory
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