Indonesia Market Today - 25 November 2020

A. INDONESIA MORNING MARKET REVIEW

Wednesday (25/11/2020). * JCI strengthening is likely to continue this Wednesday * as for the first time in US history, the DJIA Index touched the level of 30,000 after the DJIA strengthened again + 1.54% driven by the hope of a significant economic improvement in reference to positive developments in the availability of the Covid19 vaccine and the decline in US political tension due to smooth transfers administration to the elected President. Positive sentiment also came from the quite large strengthening of EIDO, namely + 2.28% and * the continued increase in prices for several commodities such as: Oil + 4.57%, Coal + 2.68%, Nickel + 1.17% & Timah + 0.27% could potentially be a positive sentiment driving higher stocks under commodities * These include: * MBAP, ADRO, PTBA, ITMG, UNTR, INCO, TINS, MEDC, ELSA *.

It is estimated that retail investors will push the JCI to 6,000 by the end of 2020.

According to * Chairman of the OJK Board of Commissioners, Wimboh Santoso, he is optimistic that IHSG until the end of 2020 will be at the level of 6,000 *. This is supported by an increase in the number and value of domestic retail investor transactions on the IDX. Wimboh further said, the potential for strengthening the JCI will also be supported by the trend of Indonesia`s economic recovery. In fact, when compared to other countries in Southeast Asia, the domestic economic recovery trend will be faster.

Kadin: Covid-19 Vaccination and the Job Creation Law are game changers for the 2021 economy.

Vaccination will contribute around 56% - 57% for the economy. Meanwhile, the Job Creation Law is considered to have contributed around 31% - 32% to the economy. If the vaccine is implemented massively in the first semester of 2020, there is an economic potential for a revival in the second half of 2021. However, if a massive new vaccination is carried out in the second semester of 2021, there needs to be an additional recovery fund from what was previously planned because the stimulus funds proclaimed by the government are only for 6 month amounting to IDR 356.4 trillion.

B. INDONESIA CORPORATE NEWS

1. PT Bank BRI Syariah (BRIS)

The company officially upgraded to Commercial Bank Business Activities (BUKU) III * on 23 November 2020 after registering this capital on 30 September 2020 amounting to IDR 5.057 trillion. With the upgrade of status to become a BUKU III bank, the opportunities for BRIS are increasingly wide open, both in terms of raising third party funds, channeling funds, trade financing, treasury activities, and opening representative offices abroad. After posting a profit growth of 238% yoy to Rp 190.5 billion, this October BRIS continues to grow positively. * The company has exceeded the profit target by 182% of the set target *. On the financing side, BRIS has booked a financing growth of 57% (yoy) or has reached the target of 111% from the target in October 2020. As for TPF, BRIS has posted a growth in TPF of 78% (yoy) or has reached the target of 134% of the target month. October 2020.

2. PT Waskita Beton Precast (WSBP)

Until the end of quarter 3/2020, the company posted a net loss for the year of IDR 1.142 trillion, WSBP losses worsened because it increased by + 123.18% compared to the same period in 2019 of IDR 511.73 billion. Meanwhile, until the end of quarter 3/2020 the company posted a net income of IDR 1,436 trillion, or a decrease of 73.86% compared to the same period in 2019 of IDR 5,495 trillion.

3. PT Waskita Karya (WSKT)

The company won new contracts worth IDR 15 trillion as of October 2020. The company is optimistic that it can pursue the target of acquiring new contracts of IDR 26 trillion by the end of 2020.

C. MARKET STATISTICS

*DJIA +454.97 +1.54% 30046!!*
*NASDAQ +156.15 +1.31% 12036.7!!*
GOLD -28.4 -1.55% 1805.70
*OIL +1.96 +4.57% 44.85!!!*
*COAL (Dec/Newcastle) +1.80 +2.68% 68.90!!!*
*NICKEL +187.50 +1.17% 16250!!*
*TIN +50 +0.27% 18687.50*
CPO (Dec`) -45 -1.28% 3473
*EIDO +0.50 +2.28% 22.46*
*TLK 23.37 (3308) vs 3350 (TLKM)*
*US 10yr +0.0250 +2.92% 0.8820*
*INDO 10yr -0.0258 -0.40% 6.5248*
*INDO CDS (5 yrs) -3.275 -4.235% 74.065!!*
*IDR (Spot) 14,155*

*IDX Range : 5,654 - 5,743*
*USD/IDR Range: 14,100 - 14,230*

D. STOCK WATCHLIST

ADHI, MBAP, JSMR, GGRM, BRIS, PWON, MAPI, PTPP, BBRI, UNTR

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