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02 september 2015
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Daily Morning - 02 September 2015

Market Update

Global equity markets traded southwards on Tuesday: Asian, EU, and U.S. markets all weakened, by 2.4% (126.9), 2.7% (352.9), and 2.8% (16,058), respectively. China’s market still contributes to negative Asian momentum, as its Shanghai Index sagged by 1.2% (3,166.6) amid poor manufacturing data: final Caixin/Markit manufacturing PMI came in at 47.3 in August, down from 47.8 in July. Meanwhile, EU bourses ended sharply lower on Tuesday, after new data from China exacerbated concerns about the outlook for the world's second-biggest economy. Across the ocean, U.S. stocks also weakened, as continued lethargy in China and concerns about
Federal Reserve normalization dominated the sentiment. Moving to our domestic market, JCI closed down by 2.2% (4,412), despite better-than-expected inflation data for Aug15 (recorded at 0.39% MoM, below market expectation of 0.55% MoM, but within of our projection of 0.35% MoM). Thus, having considered all above sentiments, today we project the JCI to trade within 4,300-4,420.

Headline News

  • Economy: IMF optimistic Indonesia could handle economic turbulence
  • CPO: Felda to revise terms on US$680.0m deal
  • BSDE: Allocate Rp2.0tr for shares buyback
  • PTBA: Allocates Rp650bn for shares buyback
  • BBRI: Targets 10.0% contribution from fee based income
  • JPFA to export hatching egg parent stock broilers to Myanmar
  • JSMR postpones Rp2.9tr bonds
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