Indonesia Market Today - 26 November 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (26/11/2020). After the DJIA rose for 2 days by +782.76 points (+ 2.66%) and reached the highest level in history at the level of 30,000, finally last night, DJIA corrected by -0.58% with a fairly low trading volume following * disappointing labor level data and anticipating the Thanks Giving * holiday. Negative sentiment also came from the decline in EIDO by -0.67% & the decline in Gold prices by -0.06% & Nickel by -1.05%. On the other hand, * positive sentiment comes from continued strengthening of several commodity prices, such as: Oil + 2.18%, Coal + 0.73%, Timah + 0.31% & CPO + 0.78% has the potential to be a positive sentiment driving higher stocks under these commodities * include: * MBAP , ADRO, PTBA, ITMG, UNTR, TINS, MEDC, ELSA, AALI & LSIP *.

If in the next two weeks there is a spike in Covid-19 cases, emergency brakes will apply again in Jakarta

Deputy Governor of DKI, Ahmad Riza Patria, stated that if the next two weeks there is a spike in Covid-19 cases, the DKI Jakarta Provincial Government will be forced to reimpose the emergency brake on Large-Scale Social Restrictions (PSBB).

B. INDONESIA CORPORATE NEWS

1. PT Mitra Adiperkasa (MAPI)

Until the end of quarter 3/2020, the company recorded a loss of IDR 605.33 billion or a sharp drop of -194.61% because in the same period of 2019 the company still made a profit of IDR 642.84 billion.

2. PT Adhi Karya (ADHI)

Since the beginning of the year until November 25, 2020, the company has pocketed new contracts worth IDR 18.6 trillion or 67.64% of the target contract until the end of the year which is IDR 27.5 trillion.

3. PT Austindo Nusantara Jaya (ANJT)

Until the end of quarter 3/2020, the company`s net income increased 28.6% to US $ 118.4 million per quarter III / 2020 or equivalent to IDR1.67 trillion (exchange rate IDR14,147.85) from US $ 92.1 million in the same period in 2019 The increase was mainly due to the increase in the average selling price of palm oil and palm kernel production. The company also managed to record a net profit of US $ 1.4 million at the end of this quarter 3/2020, reversing the loss position in quarter 3/2019 of US $ 5.9 million. Meanwhile, the realization of capital expenditure decreased 37.7% to US $ 33.4 million.

4. PT United Tractors (UNTR)

The company managed to book sales of 154 units of komatsu heavy equipment in October 2020. The realization was up 4% compared to the previous month of 148 units, although year on year it was still corrected by 7.2% by 166 units. Thus, year to date sales of UNTR`s komatsu heavy equipment totaled 1,345 units. In addition, coal sales through PT Tuah Turangga Agung for 10 months amounted to 7.65 million tons, up 9.28% compared to the same period in 2019 of 7 million tons.

5. PT Mahkota Group (MGRO)

The company is optimistic that it can print sales of Rp. 6 trillion in 2021, or nearly double the sales target this year of Rp. 3.2 trillion, in line with the increasing trend of CPO prices in the global market. The company has prepared around Rp. 250 billion - Rp. 350 billion to acquire funds in the form of acquisition of oil palm land and a new factory. As of October 2020, MGRO recorded sales for CPO of 241,000 tons, a 29% growth compared to 2019 of 186,000 tons. Meanwhile, palm kernel sales reached 58,000 tons, up 16% compared to 2019 sales of 50,000 tons.

C. MARKET STATISTICS

DJIA -173.77 -0.58% 29872
*NASDAQ +57.08 +0.47% 12094*
GOLD -1.1 -0.06% 1804.70
*OIL +0.98 +2.18% 45.83!!*
*COAL (Dec/Newcastle) +0.80 +0.73% 69.40!!!*
NICKEL -170 -1.05% 16080
*TIN +57.50 +0.31% 18745*
*CPO (Dec`) +27 +0.78% 3475*
EIDO -0.15 -0.67% 22.31
*TLK 20.95 (2963) vs 3280 (TLKM)*
*US 10yr -0.0040 -0.45% 0.8780*
*INDO 10yr -0.0312 -0.48% 6.4678*
*INDO CDS (5 yrs) -1.732 -2.39% 72.333!!*
*IDR (Spot) 14,144*

*IDX Range : 5,628 - 5,717*
*USD/IDR Range: 14,070 - 14,210*

D. STOCK WATCHLIST

BBNI, MBAP, MAPI, UNTR, BRIS, WIKA, ITMG, SMGR, CTRA, JSKY.

DISCLAIMER ON

GFS ASIA TEAM

• 0
• 0
• just now
• 0