Indonesia Market Today - 15 October 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (15/10/2020). Fading hopes of achieving a stimulus agreement before the 2020 US Presidential Election in early November and falling technology stocks sent the DJIA index down again on the second day by -0.58%. On the other hand, * positive sentiment came from the increase in EIDO by + 1.20% as well as the increase in commodity prices such as: Oil + 2.29%, Coal + 2.80%, Gold + 0.54%, Timah ++ 0.23% and Nickel + 3.21% could potentially be a catalyst to boost JCI to continue the increase this Thursday * amid the recovery of 100 million ampoules of the Covid19 vaccine from AstraZaneca Pharmaceuticals.

Official DPR version of the Job Creation Law is only 812 pages.

The draft law sent to the President consists of 812 pages. A total of 488 pages are the contents of the law, while the rest are explanations. The Chairman of the Legislation Body of the DPR acknowledged that there was a substantial change in the final draft from the previously circulated draft.

Indonesia has a commitment to purchase 100 million corona vaccines from AstraZaneca.

AstraZaneca`s first deliveries will be made in the first semester of 2021 and will be made gradually.

B. INDONESIA CORPORATE NEWS

1. PT Pyridam Farma Tbk (PYFA)

The company has signed a non-binding MOU with Vaxine Pty Ltd (Vaxine) which was signed on October 12, 2020. This collaboration is related to the commercialization and creation of candidates for Vaxine`s Covid-19 vaccine, namely Covax-19 in Indonesia.

2. PT Pakuwon Jati (PWON)

The company recorded marketing sales revenue of IDR726 billion or 67.92% equivalent to September 2020 of the target set this year after a revision of IDR1.06 trillion. Sales are still dominated by property projects in Surabaya with a 66% share. Then followed by projects in Jakarta and Bekasi by 34%. Some of the well-known projects the company is working on include Tunjungan Plaza Superblock, Pakuwon City, Township, and TP Residence. In Jakarta, Pakuwon is known as the manager of the Kota Kasablanka and Gandaria City superblocks.

3. PT Ciputra Development (CTRA)

The company reduced the capex allocation for 2020 by around 30% -40% to around Rp 900 billion-Rp 1.05 trillion from the initial budget CTRA budgeted Rp 1.5 trillion. As of semester 1 of 2020, CTRA`s capex absorption has reached Rp 500 billion. As much as 57% is used to add land banks, then 25% for mall construction, and the rest for other needs.

4. PT Summarecon Agung (SMRS)

The company posted marketing sales revenue of IDR 2.01 trillion or 80.4% equivalent to the end of the third quarter of 2020 from this year`s target of IDR 2.5 trillion. When compared to the second quarter of 2020, the realization of SMRA`s marketing sales was observed to increase by 63%. However, when compared to the third quarter of 2019, pre-sales fell by 40%.

C. MARKET STATISTICS

DJIA -165.81 -0.58% 28514
NASDAQ -95.17 -0.80% 11768
*GOLD +10.2 +0.54% 1904.70*
*OIL +0.92 +2.29% 41.10!!*
*COAL (Nov/Newcastle) +1.5 +2.80% 55.15!!*
*NICKEL +482.5 +3.21% 15522.5!!*
*TIN +42.5 +0.23% 18300*
CPO (Dec`) -20 -0.66% 2988
*EIDO +0.22 +1.20% 18.57*
*TLK 18.99 (2795) vs 2810 (TLKM)*
US 10yr -0.050 -0.69% 0.7220
INDO 10yr +0.0096 +0.14% 7.0150
*INDO CDS (5yr) +1.874 +2.02% 94.5*
IDR (Spot) 14,717.5

*IDX Range : 5,134 - 5,219*
*USD/IDR Range: 14,640 - 14,780*

D. STOCK WATCHLIST

BBNI, SMRA, ANTM, BBRI, WSKT, PGAS, INCO, ADRO, TINS, JPFA.

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