TRIM DAILY PT Trimegah Securities Tbk - www.trimegah.com 1 After Greeks voted no in its referendum to reject further austerity measures (which could lead to a Greece exit from Euro), we saw oil price, S&P and MSCI ex Japan futures all down by 1% overnight while US treasury bond yield down 1%, indicating investors going risk-off. In a risk-off environment, JCI is likely to be under pressure as well, albeit we argue it would fall less than the global markets as actual impact from a Grexit is very small on Indonesia. Company news: both ISAT and EXCL interested in buying LINK Construction 1H new contract updates: TOTL 53%, PTPP 49%, WIKA 34% of full-year target. TRIM Daily TRIM Highlights Jul 06, 2015 Jakarta Composite Index (JCI) up by 38 poin or 0.8% to 4982 last friday. Index movers were mostly driven by consumer goods, trade services, and property. Total transaction value was Rp4.1tr. IDX recorded RP163bn net buy by foreign investors. The JCI has experienced 1.2% increased within the past 5 trading days. Based on technical analysis, MACD indicator signals profit taking for today with trading the range of 4930-5015 Technical Market View Greeks said No: 61% voted to reject further austerity measures as condition of a bailout, which is likely to lead to Greece’s exit from Euro economic zone. U.S bond market gain as increasing uncertainties in Europe could lead to further delay on Fed Fund Rate hike. US 10-yr govt bond yield down from 2.4% to 2.3% overnight. Global Wrap Technical analysis: trading picks JCI 4,982.9 Global Indices Dual Listing (NYSE) Others (USD) (Rp) Chg % 43.7 14,555 0.00 0.0 TLKM Change 0.77% Transaction Volume (m) 6,027 Transaction Value (Rpbn) 4,159 Mkt Cap (Rptr) 5,053 Market 2015 P/E (x) 12.8 Market Div. Yield (%) 2.4% Price C hg % Dow Jones 17,730.1 0.0 0.0 Nasdaq 5,009.2 0.0 0.0 Nikkei 20,539.8 17.3 0.1 ST Times 3,342.7 14.9 0.4 FTSE 6,585.8 -44.7 -0.7 Hang Seng 26,064.1 -218.2 -0.8 Chg % USD IDR 13,320 -17 -0.1 10 yr Indo Govr bond (%) 8.24 -0.1 -0.8 10 yr US govt bond (%) 2.3 -0.10 -4.2 Spread (%) 5.95 0.03 3.3 EIDO 23.7 0.0 0.0 Foreign YtD (USDmn) (1,176) 12 -1 Stock Price Rating Reason LSIP 1660 Buy ASII is a white long chandle with increasing transaction volumes and positive signal from MACD, indicates further upward movement for today with support and resistance levels of 1630- 1690 RALS 690 Buy RALS indicates positive from stockhastic, for today RALS potentially to move up in the range of 680-710 BKSL 96 Buy BKSL remains on a long term bullish pat- tern with the potential upside to reach its 970 resistance level. BKSL support- resistance level for today is 93-99 ASRI 575 Buy ASRI remains on a long term bullish pat- tern with the potential technical rebound today on the range of 555-598 PTPP 3725 Buy Stochastic and RSI indicators indicates further upward movement for PTPP with support-resistance level at 3680-3800 PSAB 775 Trading Buy PSAB is a long term bullish and we expect the stock to rebound at the range of 755- 850 as it formed a star pattern yesterday.
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TRIM DAILY PT Trimegah Securities Tbk - www.trimegah.com 1
After Greeks voted no in its referendum to reject further austerity measures
(which could lead to a Greece exit from Euro), we saw oil price, S&P and
MSCI ex Japan futures all down by 1% overnight while US treasury bond
yield down 1%, indicating investors going risk-off. In a risk-off environment,
JCI is likely to be under pressure as well, albeit we argue it would fall less
than the global markets as actual impact from a Grexit is very small on
Indonesia. Company news: both ISAT and EXCL interested in buying LINK
Construction 1H new contract updates: TOTL 53%, PTPP 49%, WIKA 34% of
full-year target.
TRIM Daily
TRIM Highlights
Jul 06, 2015
Jakarta Composite Index (JCI) up by 38 poin or 0.8% to 4982 last friday. Index movers were mostly driven by consumer goods, trade services, and property. Total transaction value was Rp4.1tr. IDX recorded RP163bn net buy by foreign investors. The JCI has experienced 1.2% increased within the past 5 trading days. Based on technical analysis, MACD indicator signals profit taking for today with trading the range of 4930-5015
Technical Market View
Greeks said No: 61% voted to reject further austerity measures as condition of a bailout, which is likely to lead to Greece’s exit from Euro economic zone. U.S bond market gain as increasing uncertainties in Europe could lead to further delay on Fed Fund Rate hike. US 10-yr govt bond yield down from 2.4% to 2.3% overnight.
Global Wrap
Technical analysis: trading picks
JCI 4,982.9
Global Indices
Dual Listing (NYSE)
Others
(USD) (Rp) Chg %
43.7 14,555 0.00 0.0TLKM
Change 0.77%
Transaction Volume (m) 6,027
Transaction Value (Rpbn) 4,159
Mkt Cap (Rptr) 5,053
Market 2015 P/E (x) 12.8
Market Div. Yield (%) 2.4%
Price Chg %
Dow Jones 17,730.1 0.0 0.0
Nasdaq 5,009.2 0.0 0.0
Nikkei 20,539.8 17.3 0.1
ST Times 3,342.7 14.9 0.4
FTSE 6,585.8 -44.7 -0.7
Hang Seng 26,064.1 -218.2 -0.8
Chg %
USD IDR 13,320 -17 -0.1
10 yr Indo Govr bond (%) 8.24 -0.1 -0.8
10 yr US govt bond (%) 2.3 -0.10 -4.2
Spread (%) 5.95 0.03 3.3
EIDO 23.7 0.0 0.0
Foreign YtD (USDmn) (1,176) 12 -1
Stock Price Rating Reason
LSIP 1660 Buy
ASII is a white long chandle with increasing transaction volumes and positive signal from MACD, indicates further upward movement for today with support and resistance levels of 1630-1690
RALS 690 Buy RALS indicates positive from stockhastic, for today RALS potentially to move up in
the range of 680-710
BKSL 96 Buy
BKSL remains on a long term bullish pat-tern with the potential upside to reach its
970 resistance level. BKSL support-resistance level for today is 93-99
ASRI 575 Buy ASRI remains on a long term bullish pat-tern with the potential technical rebound today on the range of 555-598
PTPP 3725 Buy
Stochastic and RSI indicators indicates further upward movement for PTPP with support-resistance level at 3680-3800
PSAB 775 Trading Buy
PSAB is a long term bullish and we expect the stock to rebound at the range of 755-850 as it formed a star pattern yesterday.
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 2
News of the Day
Telco: Local content regulation released
Govt released Ministerial Decree on local content require-
ment with implementation date: 1 Jan 2017 for 4G LTE
FDD (frequency dividion duplex) and 1 Jan 2019 for TDD
(time division duplex) considering that the economic
scalability for TDD technology will yet mature in the next
1.5 years. According to International Telecommunication
Union (ITU) standard, one of TDD ecosystem is on
2300MHz spectrum. According to related Govt official,
there is only 1 operator so far in that spectrum, which is
Bolt. Meanwhile, FREN already has national license for
30MHz on 2300MHz spectrum and still developing its 4G
LTE infrastructure until end of 2016 with investment
allocation reaching Rp10tr. Source: Bisnis Indonesia
Comment:
Positive for NIPS, which is the only local manufacturer of
industrial battery for telco BTS.
OJK will cut motor vehicles downpayment for se-
lected multifinance
To 15-20% by multifinance companies that can keep its
NPL below 5%. Source: Kontan
Minister of Transport Ignasius Jonan suggested
that Pelindo take over Jakarta International Con-
tainer Port from Hutchison
He stated that foreign players can develop newer ports
instead. Hutchison has been granted extension since June
2015. Currently Hutchison controls 51% and Pelindo
controls 49% in JICT. Post extension Pelindo will get 51%
plus $250mn cash and $10mn a month. Rent will also
increase from US$60mn to US$120mn. Source: Kontan
Banks: BI loosens macroprudential policy
Central Bank of Indonesia (BI) loosens macroprudential
policy to boost credit growth amidst slowing economy by