Daily Focus

Nov 21, 2016
Indonesia
Daily Focus
Dang Maulida +62-21-515-1140 dangmaulida@dwsec-id.com
To subscribe to our Daily Focus, please contact us at research@dwsec-id.com
Market Index
Last Trade Chg (%) MoM YoY
JCI 5,170.1 -0.4 -4.0 13.8
MSCI Indonesia 23.9 -0.7 -9.1 12.6
MSCI EM 844.5 -0.3 -7.0 0.4
HANG SENG 22,344.2 0.4 -4.8 -2.2
KOSPI 1,974.6 -0.3 -2.9 -0.8
FTSE 6,775.8 -0.3 -3.2 7.3
DJIA 18,867.9 -0.2 4.2 6.1
NASDAQ 5,321.5 -0.2 1.5 4.5
Valuation
2016F P/E (x) P/B (x) ROE (%)
JCI 17.0 2.3 17.5
Key Rates
Last Trade Chg (bps) MoM YoY
BI 7-Day RR 4.75 -25 -25 -50*
3yr 7.51 4 68 -105
10yr 7.76 1 65 -85
*since introduced in Aug 2016
FX
Last Trade Chg (%) MoM YoY
USD/IDR 13,428.00 0.4 2.7 -3.2
USD/KRW 1,183.18 0.6 4.2 2.1
USD/JPY 110.91 0.7 6.8 -9.7
USD/CNY 6.89 0.0 2.0 7.7
Commodities
Last Trade Chg (%) MoM YoY
WTI 45.7 0.6 -10.1 -5.7
Gold 1,207.9 -0.7 -4.6 13.0
Coal 40.0 0.0 0.0 -5.1
Palm Oil 705.0 0.0 5.0 21.3
Rubber 149.1 0.0 13.8 59.1
Nickel 11,245.0 -0.8 8.0 25.2
Copper 5,495.5 1.2 17.4 19.2
Tin 20,200.0 0.0 2.9 38.4
JCI Index VS MSCI Emerging Markets
(pt) JCI MSCI EM (pt)
5,500
4,500
1,100
950
800
3,500
650
11/13 08/14 05/15 02/16 11/16
MERK: 9M16 review of stable growth
9M16 performance
MERCK (MERK) published its 9M16 res ults, with revenue of IDR707.3bn (+7%
YoY) and IDR125.4bn in net profit (+3.2% YoY). Cost of goods sold (COGS)
increased (at a lower rate) at 6.4% YoY and thus enabled MERK to slightly
improve gross margin rate to 51.4% in 9M16 vs. 51.1% in 9M15. MERK incurred a
11.9% YoY increase in selling expenses in 9M16; nevertheless total operating
expenses were mitigated by miscellaneous income, and thus MERK was able to
maintain operating margin of 20.8% in the period (vs. 20.7% in 9M15).
3Q16 performance
In 3Q16, MERK posted revenue of IDR229.4bn, slightly higher (+2.1% YoY)
compared to 3Q15’s IDR224.6bn . Meanwhile, compared to 2Q16, MERK
underwent a 15.7% decrease, which we attribute to the higher base in the
previous quarter. MERK’s revenue growth in 3Q16 both on an annual and
quarterly basis is lower compared to that of companies included in the LQ-45
index. LQ-45 index constituents posted 5.0% YoY growth and -2.4% QoQ growth
in 3Q16.
Strength in revenue composition
MERK is a debt-free company and has been operating in Indonesia for more than
four decades, which will be another positive point to be able to grow with the
country. Indonesia’s is a domestic-driven economy; between 2010-2015, private
consumption took up at an average 55% of total gross domestic product. Figure 6
shows that in 3Q16, private consumption gained more momentum growing at
c.4% QoQ despite the high base effect from Idul Fitri in 2Q16.
Private consumption in Indonesia GDP gained momentum (3Q16)
1 ,3 2 0 .0
1 ,3 0 0 .0
1 ,2 8 0 .0
1 ,2 6 0 .0
1 ,2 4 0 .0
1 ,2 2 0 .0
1 ,2 0 0 .0
1 ,1 8 0 .0
1 ,1 6 0 .0
1 ,1 4 0 .0
1 ,1 2 0 .0
( ID R t r)
1 ,1 8 8 .7
1 ,2 0 2 .8
Source: BPS, Daewoo Securities Indonesia
1 ,2 4 5 .3 1 ,2 4 5 .4 1 ,2 4 7 .8
1 ,2 6 3 .7
1 ,3 0 7 .7
1 Q 1 5 2 Q 1 5 3 Q 1 5 4 Q 1 5 1 Q 1 6 2 Q 1 6 3 Q 1 6
Daewoo Securities Indonesia Research
(pt) JCI MSCI EM (pt)
5,500
1,100

Indonesia Daily Focus
Nov 21, 2016
Local flash
ADHI: Adhi Karya won contracts Mampang-Kuningan underpass. PT Adhi Karya
(Persero) Tbk obtained a contract worth IDR202.21 billion of Mampang-Kuningan
underpass construction project in Jakarta. Corporate Secretary of Adhi Karya Ki
Syahgolang Permata explained that the owner of the project is Dinas Bina Marga
Provinsi DKI Jakarta. The work scope of the project for Adhi Karya is a design and build)
with a construction period of 392 days. (Bisnis Indonesia)
HMSP: HM Sampoerna allocated a capex of IDR1 trillion next year. PT HM
Sampoerna Tbk (HMSP) prepared a capital expenditure next year of about IDR1 trillion.
It is relatively the same with the budget has been disbursed this year. "There is no
expansion, just to support future business such as the production engine upgrade to
increase capacity," said Senior Manager of Philip Morris International Inc. (PMI) Paul
Janelle. The allocation is also expected to boost sales volume. (Kontan)
KIJA: Jababeka and PP Properti establish a joint ventures to develop land. A
subsidiary of PT Kawasan Industri Jababeka Tbk (KIJA), PT Grahabuana Cikarang has
set up a joint venture with PT PP Properti Tbk (PPRO). According to Budianto Liman,
Director of KIJA, the joint venture company named PT PP Properti Jababeka Residen.
The joint venture company has a paid up capital of IDR220.53 billion shares with PT PP
Properti Tbk has 52.6% of ownership and PT Grahabuana Cikarang 47.5%. (Iqplus)
BBYB: Asabri continue to add stake in Bank Yudha Bhakti. PT Asuransi Sosial
Angkatan Bersenjata Republik Indonesia (Asabri) increased its interest in Bank Yudha
Bhakti. Based on Bank Yudha Bakti information to the Indonesian Stock Exchange, the
additional shares recorded at 400 million shares. So that on 16 November 2016,
Asabri's shares in Bank Yudha Bhakti increase to 28.05% from 18.11%. (Iqplus)
BSIM: Bank Sinarmas to maintain NPL ratio below 2% in 2017. PT Bank Sinarmas Tbk
(BSIM) plans to restructure the loans in property sector and mining. This was done
because of the swelling in the ratio of non performing loans (NPL). The company's
gross NPLs increased to 3.45% from 2.27%. Director of BSIM Freenyan Liwang believe
that through the restructuring, the credit quality will be better. (Iqplus)
LTLS: Lautan Luas aiming for revenue growth of 15%. Distributors and manufacturers
of chemicals PT Lautan Luas Tbk (LTLS) predicts that its revenue could grow by at least
15% next year. This is because there are a number of new products that will be
launched next year. "In addition to new products, LNK also start operating next year so
that it could support our growth," said Managing Director LTLS Joshua Chandraputra
Asali. Management predicts that the company will record a revenue of IDR7 trillion.
Thus, at least LTLS targets revenue of IDR8 trillion. (Kontan)
Daewoo Securities Indonesia Research
2

Indonesia Daily Focus
Nov 21, 2016
Summary
Technical analysis
Tasrul +62-21-515-1140 tasrul@dwsec-id.com
Jakarta Composite Index (JCI) – Consolidation
Item Data Item Data
Close (Nov 18, 2016) 5,170(-0.4%)Trading range 5,140-5,232
Average index performance (%)
3.66Target
Period 297 - Daily 5,229
r-squared 0.8764 - Weekly 5,257
Volatility (+/-, %) 0.52 - Monthly 5,283
Volatility (+/-, point) 26.95Stop loss 5,094
Source: Daewoo Securities Indonesia Research
Figure 1. Daily trend - Uptrend
^JKSE-Daily11/18/2016Open5195.08, Hi 5196.91, Lo5139.21, Close 5170.11(-0.4%)UpperBand=5,644.41, Channel_prd=5,448.22, Lower Band=5,252.03, UpperBand=5,756.18, Channel_prd=
5,756.18
5,644.41
5,448.22
5,448.22
5,232
5,140
5,252.88
5,252.03
5,170.11
5,140.27
5,094.56
Optimization Trading System - ©2010
^JKSE-Volume =7,211,876,352.00, Avg.Volume =8,653,112,320.00
Optimization Trading System - ©2010
Aug Sep Oct Nov Dec 2016 Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Created with AmiBroker - advanced charting and technical analysis software. http://www.amibroker.com
8,653,112,320
7,211,876,352
Source: Daewoo Securities Indonesia Research
Daewoo Securities Indonesia Research
3

Indonesia Daily Focus
Nov 21, 2016
Figure 2. Daily MFI optimized & W%R optimized
^JKSE-MFI Smoothed=58.60
58.5959
^JKSE-Will%RSmoothed=-70.96
-70.9578
^JKSE-Daily11/18/2016Open5195.08, Hi 5196.91, Lo5139.21, Close 5170.11(-0.4%)VWAP=5,094.56, VWAP=5,276.84
5,232
5,140
5,276.84
5,170.11
5,094.56
Optimization Trading System - ©2010
^JKSE-Volume =7,211,876,352.00, Avg.Volume =8,809,157,632.00
Optimization Trading System - ©2010
Dec 2016 Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Created with AmiBroker - advanced charting and technical analysis software. http://www.amibroker.com
8,809,157,632
7,211,876,352
Source: Daewoo Securities Indonesia Research
Figure 3. Daily, target : 5,229 Figure 4. Weekly, target : 5,257 Figure 5. Monthly,target : 5,283
^ J K S E - D a i l y 1 1 / 1 8 / 2 0 1 6 O p e n 5 1 9 5 . 0 8 , H i 5 1 9 6 . 9 1 , L o 5 1 3 9 . 2 1 ,
^ J K S E - W e e k l y 1 1 / 1 8 / 2 0 1 6 O p e n 5 1 9 4 . 9 3 , H i 5 2 0 2 . 3 1 , L o
^ J K S E - M o n th ly 1 1 /1 8 /2 0 1 6 O p e n 5 4 3 0 .7 5 , H i 5 4 9 1 .7 , L o
x
5 ,6 0 5 .8 1
5 ,5 2 5 .3 5
5 ,4 4 4 .8 9
5 , 2 2 9 . 2 3
5 , 2 1 5 . 7 5
5 , 2 0 2 . 2 8
5 , 1 8 8 . 8
5 , 1 7 5 . 3 2
5 , 1 7 0 . 1 1
5 , 1 6 1 . 8 5
5 , 1 4 8 . 3 7
5 , 1 3 4 . 9
5 , 1 2 1 . 4 2
5 , 2 9 2 . 8 2
5 , 2 5 7 . 7 8
5 , 2 2 2 . 7 5
5 , 1 8 7 . 7 1
5 , 1 7 0 . 1 1
5 , 1 5 2 . 6 8
5 , 1 1 7 . 6 4
5 , 0 8 2 . 6
5 , 0 4 7 . 5 7
5 , 0 1 2 . 5 3
5 ,3 6 4 .4 3
5 ,2 8 3 .9 8
5 ,2 0 3 .5 2
5 ,1 7 0 .1 1
5 ,1 2 3 .0 6
5 ,0 4 2 .6
4 ,9 6 2 .1 5
^ J K S E - V o l u m e = 7 , 2 1 1 , 8 7 6 , 3 5 2 . 0 0 , A v g . V o l u m e = 8 , 8 0 9 , 1 5 7 , 6 3 2 . 0 0
^ J K S E - V o l u m e = 3 9 , 6 7 5 , 7 7 2 , 9 2 8 . 0 0 , A v g . V o l u m e = 3 9 , 7 6 1 , 8 9 9 , 5 2 0 . 0 0
^ J K S E - V o lu m e = 1 1 8 ,8 5 7 ,2 6 9 ,2 4 8 .0 0 , A v g .V o lu m e = 1 1 6 ,2 1 5 ,3 2 4 ,6 7 2 .0 0
8 , 8 0 9 , 1 5 7 , 6 3 2
7 , 2 1 1 , 8 7 6 , 3 5 2
O p ti m i z a ti o n T ra d i n g S y ste m - © 2 0 1 0
O c t
N o v
Cr e a te d w ith A m iB r o ke r - a d v a n c e d c h a r tin g a n d te c h n ic a l a n a ly s is s o f tw a r e . h ttp ://w w w .a m ib r o ke r .c o m
3 9 , 7 6 1 , 8 9 9 , 5 2 0
3 9 , 6 7 5 , 7 7 2 , 9 2 8
O p tim iz a ti o n T ra d i n g S y ste m - © 2 0 1 0
A p r J u l O c t
Cr e a te d w ith A miB r o ke r - a d v a n c e d c h a r tin g a n d te c h n ic a l a n a ly s is s o f tw a r e . h ttp ://w w w .a mib r o ke r .c o m
1 1 8 ,8 5 7 ,2 6 9 ,2 4 8
1 1 6 ,2 1 5 ,3 2 4 ,6 7 2
O p tim iz a tio n T ra d in g S y ste m - © 2 0 1 0
2 0 1 4 2 0 1 5 2 0 1 6
Cr e a te d w ith A miB r o ke r - a d v a n c e d c h a r tin g a n d te c h n ic a l a n a ly s is s o f tw a r e . h ttp ://w w w .a mib r o ke r .c o m
Source: Daewoo Securities Indonesia Research Source: Daewoo Securities Indonesia Research Source: Daewoo Securities Indonesia Research
Daewoo Securities Indonesia Research
4

Indonesia Daily Focus
Nov 21, 2016
Chart 6. JCI Vs. USD/IDR
(pt) JCI (L) USD/IDR (R)
5,700
5,500
5,300
5,100
4,900
4,700
4,500
4,300
8/22 9/5 9/19 10/3 10/17 10/31 11/14
Source: Bloomberg, Daewoo Securities Indonesia Research
(IDR)
14,000
13,800
13,600
13,400
13,200
13,000
12,800
Chart 7. JCI performance (absolute vs. relative)
(%, %p)
16
12
8
4
0
-4
-8
-0.4 -0.1
-1.2 -0.6
Note: Relative to MSCI EM Index
Source: Bloomberg, Daewoo Securities Indonesia Research
-4.4
Absolute
2.9
13.313.2
1D 1W 1M 1Y
Relative
Chart 8. Foreigner’s net purchase (EM)
Chart 9. Energy price
(USDmn)
0
0
-200 -145
-400
-600
-202
1 Day 5 Days
-10 -21 -17
-105 -140
-236 -295
((D-3M=100)
190
170
150
CPO WTI Coal
-800
130
-1,000
-1,200
-1,400
-1,081
110
90
-1,600
-1,501
Korea Taiwan Indonesia ThailandPhilippines India
70
8/16 9/16 9/16 10/16 10/16 10/16 11/16
Note: The latest figure for India are Nov, 17 th
Source: Bloomberg, Daewoo Securities Indonesia Research
Source: Bloomberg, Daewoo Securities Indonesia Research
Chart 10. Non-ferrous metal price
Chart 11. Precious metal price
((D-3M=100) Copper Nickel Tin
120
110
100
90
110
105
100
95
90
85
80
75
Silver Gold Platinum
80
8/16 9/16 9/16 10/16 10/16 10/16 11/16
Source: Bloomberg, Daewoo Securities Indonesia Research
70
8/16 9/16 9/16 10/16 10/16 10/16 11/16
Source: Bloomberg, Daewoo Securities Indonesia Research
Daewoo Securities Indonesia Research
5

Indonesia Daily Focus
Nov 21, 2016
Table. Key valuation metrics
Company Name
Ticker
Price Market Cap Price Performance (%) P/E(X)* P/B(X)* ROE(%)*
(IDR) (IDRbn) 1D 1W 1M 1Y FY16 FY17 FY16 FY17 FY16 FY17
Jakarta Composite Index JCI 5,170 5,613,631 -0.4 -1.2 -4.8 14.9 16.8 14.1 2.3 2.1 17.8 17.5
FINANCIALS
Bank Central Asia BBCA 14,725 363,045 -0.2 0.3 -8.3 12.6 16.3 14.5 2.9 2.5 18.7 18.1
Bank Mandiri Persero BMRI 10,925 254,917 0.2 0.7 -4.2 26.7 11.8 10.3 1.6 1.4 13.9 14.3
Bank Rakyat Indonesia Persero BBRI 11,500 283,695 0.0 -4.0 -5.7 5.0 9.8 8.7 1.8 1.6 19.0 18.7
Bank Negara Indonesia Persero BBNI 5,225 97,439 0.0 1.5 -3.2 4.0 7.7 6.6 1.0 0.9 13.8 14.7
Bank Tabungan Negara Persero BBTN 1,660 17,579 -1.2 -5.7 -13.5 37.2 9.3 8.1 0.9 0.8 9.5 10.2
CONSUMER
HM Sampoerna HMSP 3,800 442,009 0.5 -0.5 -8.0 2.2 33.1 29.5 12.0 10.7 36.9 38.6
Gudang Garam GGRM 63,100 121,410 0.2 -1.6 -4.6 27.4 16.0 14.0 2.7 2.4 17.7 17.9
Indofood CBP Sukses Makmur ICBP 9,100 106,123 0.0 3.7 -4.5 42.7 26.1 23.2 5.4 4.9 21.6 21.7
Indofood Sukses Makmur INDF 7,775 68,268 -0.6 1.3 -10.1 44.0 15.2 13.3 2.1 1.9 14.6 15.2
Kalbe Farma KLBF 1,465 68,672 -1.0 -4.6 -15.6 8.5 26.6 23.9 5.2 4.7 20.2 20.7
Unilever Indonesia UNVR 40,250 307,108 -0.6 -1.8 -9.5 10.2 42.2 37.4 52.5 48.5 130.5 137.5
AGRICULTURAL
Astra Agro Lestari AALI 15,200 29,255 -1.9 -3.3 -4.7 -12.0 15.7 12.8 1.7 1.5 11.0 12.0
PP London Sumatera Indonesia LSIP 1,600 10,917 -2.4 2.2 0.9 27.5 15.4 13.3 1.4 1.3 8.7 9.5
Sawit Sumbermas Sarana SSMS 1,390 13,240 -3.1 -5.1 -4.8 -16.3 16.1 11.0 3.2 2.7 21.3 22.0
INFRASTRUCTURE
XL Axiata EXCL 2,340 25,010 -1.7 -2.5 -3.3 -32.3 30.5 17.1 1.2 1.0 1.9 3.9
Jasa Marga JSMR 4,270 29,036 -0.7 -6.2 -7.0 -12.5 17.5 19.1 2.3 2.1 12.4 11.1
Perusahaan Gas Negara PGAS 2,390 57,937 -0.8 0.8 -7.0 -17.9 10.5 9.9 1.2 1.1 12.5 11.7
Tower Bersama Infrastructure TBIG 5,675 27,220 1.8 0.9 -7.0 -12.7 17.8 15.0 6.8 5.2 43.1 38.0
Telekomunikasi Indonesia TLKM 3,970 400,176 -0.8 0.3 -6.1 39.9 17.0 15.5 4.1 3.7 23.9 24.2
Soechi Lines SOCI 394 2,781 0.0 -3.9 -5.3 -1.5 N/A N/A N/A N/A N/A N/A
Garuda Indonesia GIAA 332 8,588 -0.6 -3.5 -16.2 10.3 17.8 12.2 2.3 2.0 11.5 15.1
BASIC-INDUSTRIES
Semen Indonesia SMGR 8,425 49,973 0.9 -4.8 -16.2 -26.7 11.4 10.3 1.6 1.5 14.3 14.7
Charoen Pokphand Indonesia CPIN 3,340 54,769 -1.8 4.7 -9.7 20.4 15.5 13.0 3.2 2.7 21.4 21.8
Indocement Tunggal Prakarsa INTP 14,900 54,850 0.7 -2.0 -11.7 -28.7 13.7 12.3 1.9 1.8 14.3 15.1
Japfa Comfeed Indonesia JPFA 1,750 19,968 -3.8 0.3 0.0 361.7 10.7 9.1 2.0 1.7 21.0 20.1
MINING
Indo Tambangraya Megah ITMG 14,725 16,638 -4.1 -18.2 9.1 98.3 9.7 8.8 1.4 1.3 14.2 15.2
Adaro Energy ADRO 1,500 47,979 -1.0 -9.6 4.2 160.9 11.2 11.2 1.1 1.1 8.8 9.2
Aneka Tambang ANTM 900 21,628 0.0 0.0 8.4 192.2 N/A 31.2 1.2 1.3 0.6 3.2
Vale Indonesia INCO 3,110 30,902 -2.8 -11.1 7.6 72.3 46.3 29.0 1.2 1.2 2.3 4.7
Tambang Batubara Bukit Asam PTBA 11,125 25,633 -6.7 -18.2 -8.8 81.6 9.5 9.7 2.1 1.8 21.0 19.7
TRADE
United Tractors UNTR 21,300 79,452 -2.7 -6.8 7.6 24.9 14.8 13.6 1.8 1.7 12.6 12.8
AKR Corporindo AKRA 6,975 27,843 1.1 6.9 2.2 18.2 21.7 18.9 3.6 3.2 17.4 17.7
Global Mediacom BMTR 645 9,158 -2.3 -10.4 -24.1 -23.2 N/A N/A N/A N/A N/A N/A
Matahari Department Store LPPF 15,200 44,352 -1.5 -4.1 -20.4 -0.8 18.0 16.1 15.3 11.9 96.9 82.0
Media Nusantara Citra MNCN 1,785 25,483 -1.9 -5.1 -15.0 10.2 13.0 11.5 2.3 2.1 18.2 18.9
Matahari Putra Prima MPPA 1,660 8,927 -0.9 -0.3 -10.5 -18.0 27.6 30.0 3.0 2.8 8.8 9.5
Surya Citra Media SCMA 2,260 33,045 -3.8 -3.8 -14.1 -30.5 18.1 16.1 7.9 7.0 46.5 46.2
Siloam International Hospital SILO 10,100 11,677 -0.7 0.0 -7.6 12.8 79.8 45.4 5.3 4.8 6.4 7.4
PROPERTY
Bumi Serpong Damai BSDE 1,825 35,125 0.3 -4.5 -18.2 11.6 13.6 11.9 1.5 1.3 11.5 12.1
Adhi Karya ADHI 1,990 7,086 -0.5 -7.0 -15.7 -8.3 9.2 7.1 1.1 0.9 12.5 14.3
Alam Sutera Realty ASRI 386 7,585 0.5 -4.0 -17.5 18.8 8.5 5.9 1.0 0.8 11.6 14.8
Ciputra Development CTRA 1,425 21,981 -1.7 -8.7 -10.9 13.3 15.8 12.5 2.1 1.9 14.6 15.3
Lippo Karawaci LPKR 800 18,462 -0.6 -7.0 -14.0 -31.3 13.0 11.8 1.0 0.9 8.7 8.8
Pembangunan Perumahan PTPP 4,060 19,660 0.2 -1.0 -3.3 7.4 16.1 12.6 3.2 2.7 21.4 22.7
Pakuwon Jati PWON 685 32,989 0.0 -0.7 -3.5 58.2 14.7 11.6 3.1 2.5 22.7 23.9
Summarecon Agung SMRA 1,350 19,476 0.0 -1.8 -23.1 -4.6 28.8 22.6 2.7 2.6 9.7 11.4
Wijaya Karya WIKA 2,360 14,938 0.0 -8.5 -7.0 -9.0 16.9 13.9 2.2 2.0 14.0 15.5
Waskita Karya WSKT 2,320 31,490 0.4 -3.7 -12.1 38.9 15.8 11.9 2.3 1.9 17.0 17.7
MISCELLANEOUS
Astra International ASII 7,850 317,796 0.0 1.9 -7.4 23.6 16.8 15.2 2.6 2.4 15.6 15.6
Source: Bloomberg, Daewoo Securities Indonesia Research
*Note: Valuation metrics based on Bloomberg consensus estimates
Daewoo Securities Indonesia Research
6

Indonesia Daily Focus
Nov 21, 2016
Sector performance
Top 10 market cap performance
Name Index Chg (%) Ticker Price Market Cap (IDRbn) Chg (%)
Agricultural 1,767.6 -1.3 KRAS IJ 745 12,538 5.77
Mining 1,318.7 -1.9 SMBR IJ 2400 23,610 3.00
Basic-Industry 524.0 0.2 BISI IJ 1765 5,295 2.62
Miscellaneous Industry 1,314.1 0.2 BBKP IJ 630 5,725 2.44
Consumer Goods 2,324.3 -0.1 INKP IJ 1000 5,471 2.0
Property & Construction 525.7 -0.2 JRPT IJ 840 11,550 1.82
Infrastructure 1,045.8 -0.7 TBIG IJ 5675 27,220 1.79
Finance 774.2 -0.1 BDMN IJ 3480 33,355 1.75
Trade 830.9 -1.8 SMCB IJ 900 6,897 1.7
Composite 5,170.1 -0.4 MYRX IJ 136 10,706 1.49
Source: Bloomberg
Top 5 leading movers
Top 5 lagging movers
Name Chg (%) Close Name Chg (%) Close
HMSP IJ 0.5 3,800 TLKM IJ -0.8 3,970
SMBR IJ 3.0 2,400 UNTR IJ -2.7 21,300
BRAM IJ 20.0 9,000 UNVR IJ -0.6 40,250
KRAS IJ 5.8 745 PTBA IJ -6.7 11,125
BMRI IJ 0.2 10,925 AMRT IJ -6.5 505
Source: Bloomberg
Economic Calendar
Time Currency Detail Forecast Previous
6:50am JPY Trade Balance 0.35T
9:00am NZD Credit Card Spending y/y 8.2%
11:30am JPY All Industries Activity m/m 0.2%
Tentative EUR German Buba Monthly Report
8:30pm CAD Wholesale Sales m/m 0.8%
9:00pm CNY CB Leading Index m/m 1.1%
10:30pm AUD CB Leading Index m/m 0.0%
11:00pm EUR ECB President Draghi Speaks
Note: Time is based on Indonesian local time
Source: Forex Factory
Disclaimers
This report is prepared strictly for private circulation only to clients of PT Daewoo Securities Indonesia (DWS). It is purpo sed only to person having
professional experience in matters relating to investments. The information contained in this report has been taken from sources which we deem reliable. No
warranty (express or implied) is made to the accuracy or completeness of the information. All opinions and estimates included in this report constitute our
judgments as of this date, without regards to its fairness, and are subject to change without notice. However, none of DWS and/or its affiliated companies
and/or their respective employees and/or agents makes any representation or warranty (express or implied) or accepts any responsibility or liability as to, or
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