Indonesia Market Today - 20 November 2020

A. INDONESIA MORNING MARKET REVIEW

Friday (20/11/2020). After DJIA fell for 2 days by -512.02 points (-1.72%), finally on the 3rd day, DJIA rose and strengthened by + 0.15% driven by good technology stocks, amid the increase in the number of victims affected by Covid 19, and if combined with the strengthening of EIDO by + 0.14% and rising commodity prices such as Oil + 0.23%, Coal + 0.32% and Nickel + 0.54% have the potential to be a positive sentiment for trading this Friday.

BI is optimistic that economic growth in the fourth quarter of 2020 will start to be positive

The improvement was due to increased realization of the stimulus and improved mobility of the people that supported gradual improvement in domestic demand, both in consumption and investment.

Ministry of Finance explains the reasons why the PEN budget in 2021 is smaller

The Ministry of Finance will still allocate a budget for National Economic Recovery (PEN) in 2021 of Rp. 372 trillion or -46.5% lower than in 2020 of Rp. 695.2 trillion.

PHRI: The loss of the tourism industry due to the pandemic is already more than IDR 100 trillion or USD7.1 billion

Furthermore, there were large layoffs experienced by around 550,000 hotel workers, or 78.5% in the tourism industry. The number of foreign tourists entering Indonesia was only 3.56 million by the end of September 2020 or decreased by 70.57% yoy.

B. INDONESIA CORPORATE NEWS

1. PT Intiland Development (DILD)

Until the end of quarter 3/2020, the company posted a revenue increase of 11.33% to IDR2.06 trillion from the same period in 2019 valued at IDR1.85 trillion. Furthermore, until the end of quarter 3/2020, the company posted a 505.06% increase in profit for the year attributable to owners of the parent entity to IDR 39.45 billion compared to the same period in 2019 of IDR 6.52 billion.

2. PT Jasa Marga (JSMR)

The company targets to operate toll roads of 1,292 km in 2021 or an increase of 8.5% because currently JSMR has operated 1,191 km of toll roads with a total concession right length of 1,527 km. Until September 2020, JSMR has the largest toll road market share in Indonesia, namely 52% followed by PT Hutama Karya with 23%. JSMR absorbed capex worth IDR 16.46 trillion as of June 2020 or an increase of 8.22% compared to the same period in 2019 worth IDR 15.21 trillion.

3. PT Metropolitan Land (MTLA)

Until the end of quarter 3/2020, the company posted a net profit of IDR 192.39 billion, or a decrease of 24.11% compared to the same period in 2019 of IDR 253.27 billion. Meanwhile, until the end of quarter 3/2020, the company posted net sales of IDR 676.92 billion, or a decrease of 14.32% compared to the same period in 2019 of IDR 789.71 billion.

4. PT Waskita Karya (WSKT)

Pefindo has lowered its WSKT rating to idBBB * with a stable outlook from idBBB + with a negative outlook. Furthermore, Waskita Karya`s Sustainable Bonds II Phase II Year 2016 and Sustainable Bonds II Phase III Series B Year 2017 worth IDR1.81 trillion * were downgraded to idBBB from idBBB + *.

C. MARKET STATISTICS

*DJIA +44.81 +0.15% 29483*
*NASDAQ +103.11 +0.87% 11904*
GOLD -3.9 -0.21% 1865.50
*OIL +0.23 +0.55% 41.90*
*COAL (Nov/Newcastle) +0.20 +0.32% 62.65*
*NICKEL +85 +0.54% 15837.5*
TIN -112.5 -0.60% 18730
CPO (Dec`) -27 -0.76% 3538
*EIDO +0.03 +0.14% 21.70*
*TLK 22.12 (3131) vs 3170 (TLKM)*
US 10yr -0.028 -3.17% 0.8540
*INDO 10yr -0.0151 -0.23% 6.5236*
*INDO CDS (5 yrs) +1.695 +2.245% 77.22*
*IDR (Spot) 14,155*

*IDX Range : 5,541 - 5,628*
*USD/IDR Range: 14,080 - 14,210*

D. STOCK WATCHLIST

BRIS, GGRM, ITMG, AKRA, PTBA, LSIP, SSIA, UNTR, PWON, PZZA

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