Indonesia Market Today - 10 December 2020

A. INDONESIA MORNING MARKET REVIEW

Thursday (10/12/2020). When the Indonesian Market is on holiday to hold Pilkada, the DJIA can be said to be closed flat amidst the decline in EIDO by -0.30% and the decline in several commodity prices such as: Oil -0.26%, Gold -1.40% & CPO -0.80% accompanied by the trend of foreign investors booking potential net sells again. a negative sentiment for trading this Thursday. In particular * investors need to be very careful with pharmaceutical stocks such as: KAEF, INAF & IRRA because the valuation is relatively very expensive (PER KAEF 538x & PER IRRA 204x) * * even the worst is that INAF stocks are still suffering from CLEAN LOSS until the quarter 3/2020 of IDR -18.88 billion, making PER reach -581x *.

On the other hand, positive sentiment came from the strengthening of commodity prices for several commodities, namely: Coal + 0.84%, Nickel + 2.17% & Tin + 1.99% so that it has the potential to push up stocks under these commodities * including the following stocks: INCO, TINS, ANTM, MBAP, ADRO, PTBA, ITMG, HRUM & UNTR.

Minister of Finance: Weak Credit Growth, Economy "Fainting"

The minister said, currently credit growth continues to weaken, which is in the range of 0%. Even as of October 2020, credit growth continued to slow down to a contraction of 0.47%. If the condition of credit distribution takes too long to "faint", the Minister of Finance said the Indonesian economy will also "faint".

B. INDONESIA CORPORATE NEWS

1. PT Kimia Farma (KAEF)

PT Bio Farma has not been able to confirm that the finished vaccine for Covid-19 from China, Sinovac, is safe for injection into elderly people over 60 years.

2. PT SMR Utama (SMRU)

Until the end of quarter 3/2020, the company posted revenue of IDR 369.31 billion or a decrease of 34.38% yoy compared to the same period in 2019 of IDR 562.88 billion. Meanwhile, until the end of quarter 3/2020, the company posted a net loss attributable to the owners of the parent company of IDR 171.64 billion or an increase of 71.21% yoy compared to the same period in 2019, which lost IDR 100.25 billion.

3. PT Lippo Karawaci (LPKR)

The company is eyeing pre-sales revenue in 2021 to grow 40% to IDR 3.5 trillion from the 2020 pre-sales target of IDR 2.5 trillion. As of the end of October 2020, the company has exceeded the pre-sales 2020 target of IDR 2.5 trillion.

C. MARKET STATISTICS

(Dec 8-9, 2020)
DJIA -1 -0.00% 30068
*NASDAQ -181 -1.44% 12338*
GOLD -26.2 -1.40% 1842
OIL -0.12 -0.26% 45.60
*COAL (Jan`21/Newcastle) +0.65 +0.84% 78*
*NICKEL +355 +2.17% 16695*
*TIN +362.5 +1.99% 19457.5!!*
CPO (Jan`21) -28 -0.80% 3481
EIDO -0.07 -0.30% 23.06
*TLK 23.29 (3260) vs 3300 (TLKM)*
*US 10yr +0.013 +1.40% 0.9410*
INDO 10yr Closed 6.4021
*INDO CDS (5 yrs) -0.285 -0.41% 68.749*
*IDR (Spot) 14,110*

*IDX Range : 5,894 - 5,985*
*USD/IDR Range: 14,050 - 14,190*

D. STOCK WATCHLIST

PGAS, ANTM, ERAA, CPIN, MAPI, PZZA, TINS, WIKA, SMRA, BRIS.

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