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Fundamental Report

Global equity markets traded mixed on Thursday: EU bourses edged up by 0.4% (407.9), while Asian and U.S. markets closed flat at 152.9 and 18,286. Asian market traded with little volatility, as Nikkei index traded uninterestingly due to the lack of sentiment. Moreover, participants maintained their defensive posture the Bank of Japan kicks off its two-day policy meeting to discuss the future of its quantitative easing program. Meanwhile, European equities closed higher on Thursday amid positive new data from the Euro Zone: its manufacturing on May rose to 52.3, better than market estimate of 51.8. Moving across the ocean, U.S. equity market closed flat as investors were concerning about the vulnerability of the interest rate hike in September. On our domestic market, JCI was able to continue its momentum by rising 0.4% (5,312.2) on Thursday, in response with foreign investors responding Indonesia’s positive outlook (previously stable) as stated by Standard and Poor’s. Moreover, banking sector led the growth, in line with BI’s new policy to cut the LTV (Loan to Value) ratio by 10% for mortgage and vehicle loans. Thus, having considered all the above sentiments, today we project the JCI to trade within 5,270-5,350
Headline News
• Auto: LTV revision unlikely to stoke sales
• Oil and Gas: 42 licenses passed to BKPM
• MTLA to build Ascendas Metland Cyber
• TLKM to issue Rp12.0tr in bonds
• BRAU to supply coal for Sinar Mas
• MYOH to expand into power generation
• BBNI (HOLD, TP Rp7,325): taking part in the transformation of the ministry of transportation
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Technical Report

Jakarta Composite Index (JCI): Sideways

Estimasi indeks (22-May-15): 5.270-5.350

Katalis:
  • Inflasi Apr14 berada di 6.8% YoY
  • GDP 1Q15 berada di 4.7% YoY
  • PBoC memangkas suku bunga acuan sebanyak 25bps ke 5,1%
  • BI Rate diperkirakan tetap di 7.5%
  • Ulasan teknikal:
  • Tren naik sejak Okt14 patah
  • Breakdown konsolidasi di support 5.250, minor support berada di 5.000 
  • LT support di 4.850 
  • Our Best Trading Ideas For Today
    BBCA Add Support di 13.500, target resisten di 14.700
    WIKA Add Target minor resisten di 3.550-3.600
    PGAS Red Pullback market, level 4.200 area profit-taking

    CPIN

    Red

    Potensi MT trading range di 2.600-3.300

    CTRA

    Red Target teoritis di 1.500-1.550 tercapai: area profit taking



     
     



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