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02 september 2015
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Daily Morning - 01 September 2015

Market Update

Global equity markets traded southwards on Monday: Asian, EU, and U.S. markets all weakened, by 0.9% (130.0), 0.1% (362.8), and 0.7% (16,528), respectively. Japan’s Nikkei Index led negative Asian momentum, as it sagged by 1.3% (18,890.5) amid poor housing start data for Jul15 (recorded at 7.4% YoY, below market estimate of 11.0%). Meanwhile, EU bourses ended slightly lower, tracking Asian markets, amid concerns over China’s slowing growth and U.S. monetary policy. Across the ocean, U.S. markets also weakened, driven downwards by global markets and uncertainty over a threatened rate hike. Moving to our domestic market, JCI gained by 1.4% (4,510), as investors kept a sharp eye on the release of inflation data for Aug15. Thus, having considered all above sentiments, today we project the JCI to trade within 4,400-4,520.

Headline News

  • Economy: Lower Electricity tariff
  • Banks: Jasa Marga to accept e-money from state owned banks
  • Banks: Himbara ATM network delays
  • CTRP to buy back Rp100.0bn shares
  • TINS production rises
  • COWL to start project in Balikpapan
  • TBIG amasses Rp1.7tr revenue in 1H15
  • BRAU: Sinarmas Rp435.8bn tender offer
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