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TRIM DAILY PT Trimegah Securities Tbk - www.trimegah.com 1
With Greece situation looming in the background, correction may continue
today. We continue to believe Indonesian stock market should fall less how-
ever, as it has already underperformed. ICBP/LSIP/INDF: Indofood group fell
by 2-4% yesterday (more than JCI’s 0.8%) due to ICBP and LSIP buying
50% each of an office building in Jakarta. ICBP plans some of its new busi-
nesses to have an office there while LSIP plans to move its headquarter there
next year. Current rental yield of only 3% is below the 7% normal rate;
hence, the big decline in share price. We think it is priced in.
TRIM Daily
TRIM Highlights
Jun 30, 2015
Jakarta Composite Index (JCI) down by 40 poin or 0.8% to 4882 yesterday. Index movers were mostly driven by property construction, agriculture and infrastructure. Total transaction value was Rp3.9tr. IDX recorded RP394bn net sell by foreign investors. Regional market opened in the negative territo-ry this morning, we expect mild correction for JCI to remain today with possible technical rebound on the following day. Support and resistance
levels for JCI today are 4855-4940.
Technical Market View
Global markets are down following Greek government’s decision to put a referendum (July 5th) on Euro bailout package. Meanwhile, S&P has down-graded Greece bond to junk status, given there is now a 50% chance of Greece leaving Euro.
Global Wrap
Technical analysis: trading picks
JCI 4,882.6
Global Indices
Dual Listing (NYSE)
Others
(USD) (Rp) Chg %
42.7 14,243 -0.93 -2.1TLKM
Change -0.82%
Transaction Volume (m) 6,295
Transaction Value (Rpbn) 3,954
Mkt Cap (Rptr) 4,959
Market 2015 P/E (x) 12.5
Market Div. Yield (%) 2.4%
Price Chg %
Dow Jones 17,596.4 -350.3 -2.0
Nasdaq 4,958.5 -122.0 -2.4
Nikkei 20,110.0 -596.2 -2.9
ST Times 3,280.2 -40.7 -1.2
FTSE 6,620.5 -133.2 -2.0
Hang Seng 25,967.0 -696.9 -2.6
Chg %
USD IDR 13,339 31 0.2
10 yr Indo Govr bond (%) 8.42 0.1 1.1
10 yr US govt bond (%) 2.3 0.01 0.4
Spread (%) 6.09 0.08 0.7
EIDO 22.9 -0.5 -2.0
Foreign YtD (USDmn) (1,205) -30 3
Stock Price Rating Reason
ASII
6875 Buy ASII is a long term bullish with possible upward movement for today between the range of 6600-7075.
AALI 22650 Buy
AALI remains on a midle term bullish pat-tern with the potential upside to reach its 23000 resistance level. AALI support-resistance level for today is 22400-23000
BMRI 10025 Buy With stochastic indicator to form a golden cross, we expect a technical rebound for BMRI today in the range of 9900-10200
BBNI 5250 Buy BBNI formed a black Marubozu chandle, for today BBNI potentially to move up in the range of 5075-5400
ADHI 2015 Spec Buy
ADHI remains in a long term bullish pat-tern. Stochastic oscillator indicates a po-tential golden cross. For today ADHI would move upward within the range of 1990-2080 for today.
PTPP 3525 Spec Buy
After selling pressures in the last five days, we expect PTPP to form a technical rebound within today’s trading range of 3430-3625
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 2
News of the Day
MIKA: Visit to Kelapa Gading’s Hospital
• Around mid of last week, we went to MIKA Hospital
in Kelapa Gading, Jakarta. The area we saw mostly
is the polyclinic service (General Physicians and
Specialists). MIKA Kelapa Gading also opens the
Polyclinic for several specialists on Sunday.
• During our visit, the waiting area for patients was
slightly crowded, as well as in the Pharmacy’s wait-
ing area. According to the Hospital staff, the Poly-
clinic is usually crowded on Saturday and Monday.
• For outgoing patients, MIKA Kelapa Gading put touch
screen facility which patients can use to get queue
number for registration and payment. The doctor we
visited has computer to input prescription, instead of
writing. Hence, patients receive print out of the
prescription from cashier in the Polyclinic payment
counter.
• MIKA is traded at 2015E/16E EV/EBITDA of
~44/38x .
Polyclinic and other services
Polyclinic and other services
Source: TRIM Research
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 3
News of the Day
Pharmacy installation (with medicine delivery service to several areas)
Touch screen used as part of registration and payment process
Source: TRIM Research Paula Ruth
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 4
News of the Day
Finance Minister: Estimated 1H15 budget realiza-
tion 39% of target, and total revenue around 40%
of target.
Quoted in Kompas, Finance Minister estimate budget
absoption for 1H15 will reach 39% of target. In the fi-
nancing side, tax and non tax revenue targeted to reach
40% of target during 1H15. He also mention to achieve
96% budget realization rate this year with estimated
deficit around 1.9-2.2% of GDP. Specifically for capital
spending budget, he is optimistic to reach 85% of target
(Rp 280tn) higher than 80% realization last year.
June inflation to pick up based on Kontan's survey
According to various economists surveyed by Kontan,
June inflation is likely around 0.6%, far higher from June
14 number of 0.43%. This is due to Lebaran and weaken-
ing Rupiah. Source: Kontan
OJK: Back-door listing regulation is not needed at
this moment
According to OJK deputy commissioner, Noor Rachman,
back-door listing regulation is not needed at this mo-
ment. Previously, OJK thought that back-door listing
needs to be regulated. Source: Bisnis Indonesia
Comment:
During a bull-market, many back-door listing schemes
are conducted in the market. Back-door listing scheme is
lesser tax and less sophisticated process compared to
IPO. ([email protected])
Automotive: Honda to release a crossover utility
vehicle, BR-V
Honda to release its latest crossover utility vehicle model
in Indonesia under the name Honda BR-V. It is a 7 seater
with price range of IDR150-300m. Its class is above
Mobilio but below HR-V. The first debut will be launched
in Gaikindo Indonesia International Auto (GIIAS) show
held in August 2015. Source: Various
Comment:
Following Honda’s success in HR-V, Honda strives to
continuously gain market share by having various new
brands catering various customer segments. Although
this may have a slight cannibalization against Honda’s
various 1500cc brands in our view. Note that Honda’s
5M15 market share is 15.0% vs 12.3% in 5M14. With
automotive plants running on low utilization rate (roughly
below 55%), automotive sector competition to remain
intense and continous price discounts to lin-
ger. ([email protected])
HMSP: Will sell additional shares to the market to
increase free float
Currently the free float is 1.08% and will have to increase
to 7.5%. HMSP management stated that they are in touch
with several investment banks to execute the deal. Source:
Kontan
WSKT: Looking for three additional toll road conces-
sion
Currently WSKT controls 7 toll road concession. Company
will likely issue bond to make up for the capex at Rp2tn.
Source: Kontan
ECII: Guides for 5% revenue growth this year
This is due to weak purchasing power. ECII will increase
asp by 25-30% for new products and products that are still
being produced by principal and maintain 19-20% gross
margin. Year to May the company has opened 4 outlets
and set to open another 3. Source: Kontan
TRAM: To conduct reverse stock split
Company will do 5:1 reverse stock split. Company will
purchase the odd lot at Rp61/share from 10-18 August.
From this corporate action, TRAM will increase its share
capital from Rp1.5tn to Rp3.89tn. Source: Kontan
BUKK: Will conduct rights issue after relisting
Will be proced at Rp590/share with book value of Rp338/
share. The rights issue will raise funds to develop nickel
smelter with 2760 tonnes pa capacity for Rp400bn. Com-
pany will spin off some subsidiaries and male BUKK into a
holding company. Source: Kontan
Lintas Marga Sedaya estimated that tariff discount
during Ramadhan will led to Rp30bn losses
This is despite potential volume surge by 50%. LMS Com-
missioner, Johaned Suryadjaya hoped that this does not
become an annual thing. Source: Kontan
INDR: To allocates USD60-70m capex this year
Indorama Synthetics (INDR IJ) allocates USD60-70m worth
of capex this year to boost production capacity by 10-15%.
Source: Bisnis Indonesia ([email protected])
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 5
News of the Day
SRIL: plans to export to 5 more countries and to
enter retail business
SRIL is to further expand its export market to at least
five more countries, to boost its revenues by a minimum
10% this year. The company currently exports 48% of
its products to around 30 countries in Asia, the Middle
East, Europe, the Netherlands, the US, and Africa. For
FY15, the company targets a 7-10% growth in sales and
an 8-15% growth in net profits. For FY16 plan, SRIL
aims to enter the retail business, expanding to down-
stream textile operations by acquiring local or global
brands. The company allocates $86mn for FY16’s CAPEX,
funding by its internal cash. Source: Jakarta Post
SRIL: To acquire European uniform company
SRIL is interested to acquire retail and garment company
from Europe with estimated value up to ~USD30mn. The
European company has retail business and also produces
uniforms for companies such as airlines, hospitals, and
fire brigade. SRIL also receives offer from retail compa-
nies in Hongkong (~25% ownership; >USD100mn) and
Singapore (up to 100%). To enter to downstream busi-
ness, the company will prepare ~USD100-200mn until
2018. Source: Bisnis Indonesia
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 6
Table
Indo Market PE vs Regional (Weekly)
Indo Market PE vs 10yr Bond Yield
Oil Price (Brent), Coal Price (Newcastle), Gold
Foreign Fund Flow in last 5 & 30 days
5yr Bond Yield Indo (USD) vs US Bond Yield
CPO Price, Soybean Price (both 1m Futures)
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
22.0
2010
2010
2011
2012
2013
2014
2015
(x)
Weekly Hang Seng Singapore Thailand Philippines Malaysia Indonesia
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
Jun-1
4
Jul-
14
Jul-
14
Aug-14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Oct-
14
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Dec-14
Jan-15
Jan-15
Feb-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
Apr-
15
May-15
May-15
May-15
Jun-1
5
Jun-1
5
(%) Bond Yield US Ind 5yr Bond Yield Indo in USD
-46 -30 -22
15 9
132
-377
-290
-482
-350
32
-268
(600)
(500)
(400)
(300)
(200)
(100)
0
100
200
IND
ON
ESIA
PH
ILIP
PIN
ES
SO
UTH
KO
REA
TH
AIL
AN
D
VIE
TN
AM
IND
IA
(USDmn) 5 Days 30 Days
500
700
900
1,100
1,300
1,500
40
50
60
70
80
90
100
110
120
Jun-1
4
Jul-
14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jun-1
5
(USD/ Troy oz.)(USD)
Brent Crude Oil (bbl) (LHS) Coal (mt) (LHS) Gold (RHS)
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
-
500
1,000
1,500
2,000
2,500
3,000
Jul-
14
Aug-14
Sep-1
4
Oct-
14
Nov-1
4
Dec-14
Jan-15
Feb-15
Mar-
15
Apr-
15
May-15
Jun-1
5
(USD Bushels)(MYR Tons)
CPO Malaysia (LHS) Soybean (RHS)
6.0
6.5
7.0
7.5
8.0
8.5
9.0
12.0
12.5
13.0
13.5
14.0
14.5
15.0
Jun-
14
Jul-
14
Aug-
14
Sep-
14
Oct-
14
Nov-
14
Dec-
14
Jan-
15
Feb-
15
Mar-
15
Apr-
15
May-
15
Jun-
15
(%)(X) JCI PE (LHS) Indo 10Yr Bond Yield (RHS)
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 7
Table
INCO, ANTM vs Nickel price (LME)
Coal Price (Newcastle) vs Coal Sector
TINS vs Tin price (LME)
ANTM vs Gold price
CPO Price (1m Futures in Malaysia) vs CPO Sector
GIAA vs Brent Crude Oil
150
175
200
225
250
275
50
55
60
65
70
75
Jul-
14
Aug-14
Sep-1
4
Oct-
14
Nov-1
4
Dec-14
Jan-15
Feb-15
Mar-
15
Apr-
15
May-15
Jun-1
5
(USD/MT)Coal (LHS) COAL Sector (RHS)
50
55
60
65
70
75
80
85
90
1,500
1,600
1,700
1,800
1,900
2,000
2,100
2,200
2,300
2,400
2,500
Jun-1
4
Jul-
14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jun-1
5
(MYR / Ton)
CPO Malaysia (LHS) CPO Sector (RHS)
-
5,000
10,000
15,000
20,000
25,000
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Jun-1
4
Jul-
14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jun-1
5
(USD /MT)(Rp)
INCO (LHS) ANTM (LHS) Nickel LME (RHS)
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
Jun-1
4
Jul-
14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jun-1
5
(USD troy oz.)(Rp) ANTM (LHS) Gold (RHS)
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
500
700
900
1,100
1,300
1,500
1,700
Jun-1
4
Jul-
14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jun-1
5
(USD/MT)(Rp) TINS (LHS) Tin LME (RHS)
40
50
60
70
80
90
100
110
120
300
350
400
450
500
550
600
650
700
Jun-1
4
Jul-
14
Aug-14
Sep-1
4
Sep-1
4
Oct-
14
Nov-1
4
Nov-1
4
Dec-14
Jan-15
Jan-15
Feb-15
Mar-
15
Mar-
15
Apr-
15
May-15
Jun-1
5
Jun-1
5
(USD bbl)(Rp)
GIAA (LHS) Crude Oil Brent (RHS)
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 8
World Economic Calendar
Date Time Country Event Period Survey Actual Prior
6/24/2015 US MBA Mortgage Applications (%) 19-Jun -- 1.6 -5.5
US GDP Annualized QoQ (%) 1Q T -0.2 -0.2 -0.7
US Personal Consumption (%) 1Q T 1.9 2.1 1.8
US GDP Price Index (%) 1Q T -0.1 0 -0.1
US Core PCE QoQ (%) 1Q T 0.8 0.8 0.8
6/25/2015 US Personal Income (%) May 0.5 0.5 0.4
US Personal Spending (%) May 0.7 0.9 0.0
US PCE Core MoM (%) May 0.1 0.1 0.1
US Initial Jobless Claims (000's) 20-Jun 273 271 267
US Continuing Claims (000's) 13-Jun 2218 2247 2222
US Markit US Composite PMI Jun P -- 54.6 56
US Markit US Services PMI Jun P 56.5 54.8 56.2
US Bloomberg Consumer Comfort 21-Jun -- 42.6 40.9
6/26/2015 US U. of Mich. Sentiment Jun F 94.6 96.1 94.6
EC M3 Money Supply YoY (%) May 5.4 5 5.3
EC M3 3-month average (%) May 5.1 5 4.7
6/29/2015 US Pending Home Sales MoM (%) May 1.0 0.9 3.4
US Dallas Fed Manf. Activity Jun -16 -7 -20.8
EC Consumer Confidence Jun F -5.6 -5.6 -5.6
6/30/2015 US Chicago Purchasing Manager Jun 50.6 -- 46.2
US Consumer Confidence Index Jun 97.1 -- 95.4
EC Unemployment Rate (%) May 11.1 -- 11.1
EC CPI Estimate YoY (%) Jun 0.2 -- --
EC CPI Core YoY (%) Jun A 0.8 -- 0.9
7/1/2015 US MBA Mortgage Applications (%) 26-Jun -- -- 1.6
US ADP Employment Change (000's) Jun 218 -- 201
US Markit US Manufacturing PMI Jun F 53.4 -- 53.4
US Construction Spending MoM May 0.5 -- 2.2
US ISM Manufacturing Jun 53.1 -- 52.8
US ISM Prices Paid Jun 51 -- 49.5
ID CPI Core YoY Jun -- -- 5.04%
EC Markit Eurozone Manufacturing PMI Jun F 52.5 -- 52.5
CH Manufacturing PMI Jun 50.4 -- 50.2
CH HSBC China Manufacturing PMI Jun F 49.6 -- 49.6
7/2/2015 US Change in Nonfarm Payrolls Jun 230000 -- 280000
US Change in Manufact. Payrolls Jun 6000 -- 7000
US Unemployment Rate Jun 5.40% -- 5.50%
US Initial Jobless Claims 27-Jun 270000 -- 271000
US Continuing Claims 20-Jun 2.24 -- 2.25
US Bloomberg Consumer Comfort 28-Jun -- -- 42.6
US Factory Orders May -0.50% -- -0.40%
7/3/2015 ID Foreign Reserves Jun -- -- 1.11E+11
EC Markit Eurozone Services PMI Jun F 54.4 -- 54.4
EC Markit Eurozone Composite PMI Jun F 54.1 -- 54.1
EC Retail Sales MoM May 0.10% -- 0.70%
EC Retail Sales YoY May 2.30% -- 2.20%
CH HSBC China Composite PMI Jun -- -- 51.2
CH HSBC China Services PMI Jun -- -- 53.5
7/6/2015 US Markit US Composite PMI Jun F -- -- 54.6
US Markit US Services PMI Jun F -- -- 54.8
US ISM Non-Manf. Composite Jun 56.2 -- 55.7
7/7/2015 US Trade Balance May -4.17 -- -4.09
7/8/2015 US MBA Mortgage Applications 3-Jul -- -- --
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 9
Corporate Action
Code Price
Exercise Maturity Emiten Description
INVS-W 165 8-May-15 Inovisi Infracom WARAN SERI I INOVISI INFRACOM
SUGI-W 100 21-May-15 Sugih Energy WARAN SERI II SUGIH ENERGY
MCOR-W 200 10-Jul-15 Bank Windu Kentjana International WARAN SERI I BANK WINDU KENTJANA INTERNATIONAL
GAMA-W 105 16-Jul-15 Gading Development WARAN SERI I GADING DEVELOPMENT
SUPR-W 4800 28-Aug-15 Solusi Tunas Pratama WARAN SERI I SOLUSI TUNAS PRATAMA
NIRO-W 110 11-Sep-15 Nirvana Development WARAN SERI I NIRVANA DEVELOPMENT
BSIM-W 149 11-Dec-15 Bank Sinar Mas WARAN SERI I BANK SINAR MAS
Warrant
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 10
Statistics
-0.7
-0.9
-1.0
-1.0
-2.3
-4.4
-4.6
-5.6
-14.2
-23.7
BMRI
UNVR
BBRI
TLKM
INDF
ICBP
BSDE
LPKR
DUTI
RODA19.4
11.7
4.4
4.4
2.9
2.6
1.5
1.3
0.7
0.4
BIPI
ECII
SMMA
UNTR
IMAS
MYOR
KLBF
BBTN
ASII
SCMA
197
188
135
129
112
99
89
77
70
64
- 100 200 300
BBRI
SSMS
BBCA
BMRI
TLKM
BBNI
ASII
UNVR
KLBF
PGAS
292
168
149
127
123
100
97
97
75
63
0 200 400
SIAP
BIPI
PPRO
SUGI
BWPT
SSMS
META
ASRI
TARA
BKSL
6,832
4,871
4,858
4,634
4,529
3,940
3,771
3,612
3,549
3,387
KLBF
BBRI
SSMS
BBNI
TLKM
ASII
BBCA
MIKA
UNTR
BMRI
JCI Winners (%) JCI Losers (%) JCI Value (Rpbn) JCI Volume (mn Lot) JCI Freq (x)
YTD (Rp) -6.59% 6,295
YTD (USD) 37.34% 3,954
Moving Avg 20day 4,971 4,959
Moving Avg 50day 5,150 12.5
Moving Avg 200day 5,204 2.4%
Indonesia & Sectors +/- (%)YTD (%)
MSCI Indonesia 5,741.8 -38.9 -0.7 -7.4
JII 652.8 -6.0 -0.9 -5.5
LQ45 834.9 -7.5 -0.9 -7.1
JAKFIN Index 699.9 -3.8 -0.5 -4.3
JAKINFR Index 1,038.6 -7.9 -0.8 -10.5
JAKMINE Index 1,118.3 -10.7 -1.0 -18.3
JAKCONS Index 2,149.0 -20.3 -0.9 -1.3
JAKTRAD Index 913.9 -2.2 -0.2 4.0
JAKMIND Index 1,188.2 6.1 0.5 -9.1
JAKBIND Index 422.0 -4.2 -1.0 -22.4
JAKPROP Index 497.8 -16.9 -3.3 -5.2
JAKAGRI Index 2,044.7 -40.6 -1.9 -13.0
Commodities +/- (%)YTD (%)
CRB Index 223.6 -1.3 -0.58 -2.8
Oil & Gas
Brent Crude Oil (USD/bbl) 62.0 -1.3 -1.98 8.2
Nymex Oil (USD/bbl) 58.3 -0.5 -0.83 9.4
Natural Gas 2.8 0.0 1.15 -3.3
COAL (AUS Daily) 60.5 0.3 0.42 -2.5
Industrial Metals
Aluminum (USD/tonne) 1,668.3 -5.5 -0.33 -9.0
Nickel (USD/tonne) 11,835 -615 -4.94 -21.9
Tin (USD/tonne) 14,425 -470 -3.16 -25.6
Precious Metal
Gold (USD/t oz.) 1,179.0 6.1 0.52 -0.4
Silver (USD/t oz.) 15.7 -0.1 -0.45 0.4
Soft Commodities
CPO (Malaysia - Rm/tonne) 2,278 0.0 0.00 -0.6
Rubber (JPY/kg) 1,715 -9.3 -0.54 4.5
Corn (USD/bu.) 383 -1.8 -0.45 -3.5
Wheat (USD/bu.) 581 18.3 3.25 -1.6
Soybeans (USD/bu.) 1,003 0.5 0.05 -1.6
Volume (m)
Value (Rpbn)
Mkt Cap (Rptr)
Market 2015 P/E (x)
Market Div. Yield (%)
CPO (Malaysia - Rm/tonne)
Indices Region +/- (%) YT D (%)
MXWO MSCI Word 1,737.6 -38.62 -2.17 1.63
SPX S&P 500 2,057.6 -43.85 -2.09 -0.06
US
17,596.4 -350.3 -1.95 -1.27
Nasdaq US 4,958.5 -122.04 -2.40 4.70
Europe
EURO 50 Europe 386.2 -10.68 -2.69 12.75
FTSE London 6,620.5 -133.22 -1.97 0.83
DAX Jerman 11,083.2 -409.2 -3.56 13.03
CAC France 4,869.8 -189.35 -3.74 13.97
SMI Swiss 8,868.4 -139.11 -1.54 -1.28
BRIC
BOVESPA Brazil 53,014.2 -1,003 -1.86 6.01
MICEX Russia 1,634.9 -9.52 -0.58 17.07
SENSEX India 27,645.2 -166.7 -0.60 0.53
NIFTY India 8,318.4 -62.7 -0.75 0.43
SHCOMP China 4,053.0 -139.84 -3.34 25.30
SZCOMP China 2,351.4 -151.55 -6.05 66.15
Nikkei Japan 20,110.0 -596.2 -2.88 15.24
TPX Japan 1,624.8 -42.21 -2.53 15.44
HSI Hong kong 25,967.0 -696.9 -2.61 10.01
KOSPI S.Korea 2,060.5 -29.77 -1.42 7.56
TAIEX Taiwan 9,236.1 -666.8 -6.73 -0.76
FSSTI Singapore 3,280.2 -40.72 -1.23 -2.53
ASEAN
SET Thailand 1,511.2 -6.84 -0.45 0.90
PCOMP Philipines 7,567.4 -54.7 -0.72 4.66
KLCI Malaysia 1,691.9 -18.55 -1.08 -3.94
VNINDEX Vietnam 591.8 10.00 1.72 8.46
Developed ASIA
Dow Jones Industrial
Kurs Region +/- (%) YT D (%)
USDEUR Euro 0.890 -0.005 -0.01 11.25
USDGBP UK 0.635 0.000 0.00 5.90
USDCHF Switzerland 0.925 -0.008 -0.01 -7.51
USDCAD Canada 1.240 0.008 0.01 3.36
USDAUD Australia 1.302 -0.004 -0.00 8.52
USDNZD New Zealand 1.460 -0.001 -0.00 12.28
USDJPY Japan 122.54 -1.310 -0.01 2.29
USDCNY China 6.21 (0.00) (0.00) 0.14
USDHKD Hongkong 7.752 -0.000 -0.00 -0.61
USDSGD Singapore 1.346 -0.004 -0.00 3.55
Rupiah Indonesia 13,339 31.0 0.00 7.68
JCI 4,882.6 (40.4) -0.8%
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 11
Historical Technical Trading Ideas (1)
Ticker Last Technical Call 24-Jun-15 Chg (%) Recommendation
JCI 4,938 Strenghtening
4,954 0.32% Correct
JSMR 5,650 Buy
5,650 0.00% Correct
ERAA 600 Buy
600 0.00% Correct
UNTR 20,325 Buy
20,225 -0.49% Incorrect
BWPT 419 Buy
418 -0.24% Incorrect
BKSL 96 Buy
100 4.17% Correct
GGRM 45,950 Sell
45,300 -1.41% Correct
Ticker Last Technical Call 23-Jun-15 Chg (%) Recommendation
JCI 4,959 Strenghtening
4,938 -0.44% Correct
ICBP 12,975 Buy
12,900 -0.58% Correct
BWPT 378 Buy
419 10.85% Correct
RALS 710 Buy
705 -0.70% Correct
AISA 1,805 Buy
1,815 0.55% Correct
MPPA 3,260 Buy
3,285 0.77% Correct
BBNI 5,600 Sell
5,575 -0.45% Correct
Ticker Last Technical Call 22-Jun-15 Chg (%) Recommendation
JCI 4985 Strenghtening
4,959 -0.52% Incorrect
BDMN 4,355 Buy
4,370 0.34% Correct
BBCA 13,700 Buy
13,725 0.18% Correct
CPIN 3,050 Buy
2,995 -1.80% Incorrect
UNTR 20,225 Buy
20,125 -0.49% Incorrect
ASII 7,050 Buy
7,000 -0.71% Incorrect
ADHI 2,095 Buy
2,180 4.06% Incorrect
Ticker Last Technical Call 19-Jun-15 Chg (%) Recommendation
JCI 4945.5 Rebound
4,985 0.80% Correct
ICBP 13,150 Buy
12,950 -1.52% Incorrect
BDMN 4,065 Buy
4,355 7.13% Correct
BWPT 372 Buy
372 0.00% Correct
RALS 700 Buy
705 0.71% Correct
ASII 7,025 Buy
7,050 0.36% Correct
ERAA 550 Spec Buy
540 -1.82% Incorrect
Ticker Last Technical Call 18-Jun-15 Chg (%) Recommendation
JCI 4945 Strenghtening
4,945 0.01% Correct
UNVR 40,925 Buy
41,500 1.41% Correct
BDMN 4,065 Buy
4,065 0.00% Correct
BBNI 5,650 Buy
5,525 -2.21% Incorrect
MNCN 1,975 Buy
2,000 1.27% Correct
GZCO 83 Buy
85 2.41% Correct
ADHI 2,120 Spec Buy
2,040 -3.77% Incorrect
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 12
Historical Technical Trading Ideas (2)
Ticker Last Technical Call 17-Jun-15 Chg (%) Recommendation
JCI 4872.6 Rebound
4,946 1.50% Correct
ADRO 780 Buy
805 3.21% Correct
AALI 22,900 Buy
22,500 -1.75% Incorrect
BBRI 10,550 Buy
11,000 4.27% Correct
BBNI 5,500 Buy
5,650 2.73% Correct
LSIP 1,610 Buy
1,585 -1.55% Incorrect
GIAA 444 Sell
448 0.90% Incorrect
Ticker Last Technical Call 16-Jun-15 Chg (%) Recommendation
JCI 4837.8 Continues Weakening
4,873 0.72% Correct
UNTR 20,200 Buy
20,200 0.00% Correct
GGRM 43,500 Buy
44,275 1.78% Correct
JSMR 6,000 Buy
5,900 -1.67% Incorrect
LSIP 1,610 Buy
1,610 0.00% Correct
BWPT 391 Sell
371 -5.12% Correct
PWON 389 Sell
402 3.34% Incorrect
Ticker Last Technical Call 15-Jun-15 Chg (%) Recommendation
JCI 4935.8 Profit Taking
4,838 -1.99% Correct
UNTR 20,500 Buy
20,200 -1.46% Incorrect
LSIP 1,655 Buy
1,610 -2.72% Incorrect
AALI 23,200 Buy
22,475 -3.13% Incorrect
ASII 7,075 Sell
6,850 -3.18% Correct
ITMG 13,100 Sell
13,100 0.00% Correct
PWON 410 Sell
389 -5.12% Correct
Ticker Last Technical Call 12-Jun-15 Chg (%) Recommendation
JCI 4928.8 Reebound
4,936 0.14% Correct
BBCA 13,320 Buy
13,250 -0.53% Incorrect
BBNI 5,575 Buy
5,625 0.90% Correct
ICBP 13,400 Buy
13,350 -0.37% Incorrect
JSMR 6,325 Buy
6,250 -1.19% Incorrect
TLKM 2,870 Buy
2,850 -0.70% Incorrect
SMGR 12,650 Buy
12,525 -0.99% Incorrect
Ticker Last Technical Call 11-Jun-15 Chg (%) Recommendation
JCI 4933.5 Profit Taking
4,929 -0.10% Correct
AALI 23,925 Buy
23,725 -0.84% Incorrect
LSIP 1,690 Buy
1,695 0.30% Correct
BBNI 5,750 Buy
5,575 -3.04% Incorrect
BBRI 10,400 Buy
10,125 -2.64% Incorrect
SMGR 12,825 Buy
12,650 -1.36% Incorrect
TLKM 2,860 Buy
2,870 0.35% Correct
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 13
Historical Technical Trading Ideas (3)
Ticker Last Technical Call 10-Jun-15 Chg (%) Recommendation
JCI 4899.9 Reebound
4,934 0.69% Correct
PWON 384 Buy
400 4.17% Correct
BBRI 10,475 Buy
10,400 -0.72% Incorrect
PGAS 4,190 Buy
4,200 0.24% Correct
BBNI 5,800 Strong Buy
5,750 -0.86% Incorrect
SMRA 1,680 Strong Buy
1,700 1.19% Correct
BWPT 398 Trading Buy
416 4.52% Correct
Ticker Last Technical Call 9-Jun-15 Chg (%) Recommendation
JCI 5,015 Cont'd Weakening
4,900 -2.29% Correct
PTBA 9,425 Spec Buy
9,125 -3.18% Incorrect
PWON 388 Spec Buy
384 -1.03% Incorrect
PGAS 4,295 Spec Buy
4,190 -2.44% Incorrect
BBRI 11,000 Spec Buy
10,475 -4.77% Incorrect
SRIL 344 Trading Buy
329 -4.36% Incorrect
ENRG 63 Trading Buy
62 -1.59% Incorrect
Ticker Last Technical Call 8-Jun-15 Chg (%) Recommendation
JCI 5,096 Cont'd Weakening
5,015 -1.59% Correct
UNTR 22,200 Buy
21,850 -1.58% Incorrect
BBCA 13,650 Buy
13,575 -0.55% Incorrect
ICBP 13,450 Buy
12,975 -3.53% Incorrect
GGRM 45,200 Buy
45,200 0.00% Correct
BBTN 1,150 Buy
1,125 -2.17% Incorrect
BBRI 11,300 Buy
11,000 -2.65% Incorrect
Ticker Last Technical Call 5-Jun-15 Chg (%) Recommendation
JCI 5,096 Cont'd Weakening
5,101 0.09% Incorrect
UNTR 21,700 Buy
22,200 2.30% Correct
TLKM 2,825 Buy
2,855 1.06% Correct
BBNI 6,200 Buy
6,225 0.40% Correct
PTPP 3,980 Buy
3,950 -0.75% Correct
PWON 416 Buy
405 -2.64% Incorrect
Ticker Last Technical Call 4-Jun-15 Chg (%) Recommendation
JCI 5,131 Cont'd Weakening
5,096 -0.68% Correct
UNTR 21,550 Buy
21,700 0.70% Correct
INCO 3,155 Buy
3,085 -2.22% Incorrect
BBRI 11,200 Buy
11,125 -0.67% Incorrect
BBNI 6,375 Buy
6,200 -2.75% Incorrect
ADHI 2,460 Buy
2,440 -0.81% Incorrect
WIKA 3,125 Buy
3,125 0.00% Correct
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 14
Historical Technical Trading Ideas (4)
Ticker Last Technical Call 3-Jun-15 Chg (%) Recommendation
JCI 5,214 Cont'd Weakening
5,130 -1.60% Correct
SMGR 13,450 Buy
13,300 -1.12% Incorrect
GGRM 47,100 Buy
46,000 -2.34% Incorrect
BBRI 11,775 Buy
11,250 -4.46% Incorrect
ADHI 2,505 Buy
2,460 -1.80% Incorrect
TBIG 9,425 Buy
9,150 -2.92% Incorrect
PGAS 4,295 Sell
4,365 1.63% Incorrect
Ticker Last Technical Call 1-Jun-15 Chg (%) Recommendation
JCI 5,216 Cont'd Weakening
5,214 -0.05% Correct
SMGR 13,450 Buy
13,475 0.19% Correct
GGRM 47,100 Buy
47,000 -0.21% Incorrect
BBRI 11,775 Buy
11,725 -0.42% Incorrect
ADHI 2,505 Buy
2,445 -2.40% Incorrect
TBIG 9,425 Buy
9,300 -1.33% Incorrect
PGAS 4,295 Sell
4,315 0.47% Correct
Ticker Last Technical Call 29-May-15 Chg (%) Recommendation
JCI 5,237 Reebound
5,216 -0.40% Incorrect
SMGR 13,350 Buy
13,450 0.75% Correct
BBNI 6,900 Buy
6,875 -0.36% Incorrect
BBRI 11,825 Buy
11,775 -0.42% Incorrect
ASRI 615 Buy
600 -2.44% Incorrect
ADHI 2,600 Spec Buy
2,505 -3.65% Incorrect
PTPP 4,025 Spec Buy
4,020 -0.12% Incorrect
Ticker Last Technical Call 28-May-15 Chg (%) Recommendation
JCI 5,254 Cont'd Weakening
5,237 -0.31% Correct
KLBF 1,740 Buy
1,755 0.86% Correct
ADRO 895 Buy
900 0.56% Correct
ANTM 820 Buy
810 -1.22% Incorrect
AALI 26,825 Buy
26,225 -2.24% Incorrect
BBRI 11,950 Buy
11,825 -1.05% Incorrect
WIKA 3,175 Sell
3,155 -0.63% Correct
Ticker Last Technical Call 27-May-15 Chg (%) Recommendation
JCI 5,321 Cont'd Weakening
5,253 -1.27% Correct
UNVR 45,725 Buy
44,500 -2.68% Incorrect
TLKM 2,870 Buy
2,830 -1.39% Incorrect
PGAS 4,360 Buy
4,300 -1.38% Incorrect
SMGR 13,250 Buy
13,175 -0.57% Incorrect
SMRA 1,995 Buy
1,975 -1.00% Incorrect
CPIN 3,365 Buy
3,240 -3.71% Incorrect
PT Trimegah Securities Tbk - www.trimegah.com TRIM DAILY 15
Research Team
Sebastian Tobing, CFA
Head of Research & Institutional Business
Gina Novrina Nasution, CSA
Technical Analyst
Paula Ruth
Equity Analyst
Angga Aditya Assaf
Equity Analyst
Willinoy Sitorus
Equity Analyst
M. Dian Octiana
Equity Analyst
Wisnu Budhiargo
Equity Analyst
Tim Alamsyah
Equity Analyst
Dini Agmivia Anggraeni
Fixed Income/Macro Analyst
Yeni Simanjuntak
On-the-ground Analyst
Rovandi
Research Associate
Institutional Sales Team
Daniel Dwi Seputro
Head of Institutional Equity Sales
Dewi Yusnita
Equity Institutional Sales
Meitawati
Equity Institutional Sales
Fachruly Fiater
Equity Institutional Sales
Henry Sidarta
Equity Institutional Sales
Raditya Andyono
Equity Institutional Sales
Nancy Pardede
Equity Institutional Sales
Retail Sales Team
JAKARTA AREA
Nathanael Benny Prasetyo
Head of Retail ECM
Ariawan Anwar
Artha Graha, Jakarta
Windra Djulnaily
Pluit, Jakarta
Ferry Zabur
Kelapa Gading, Jakarta
Eddy Sumarli
Puri Kencana, Jakarta
Very Wijaya
BSD, Tangerang
SUMATERA
Juliana Effendy
Medan, Sumatera Utara
Tantie Rivi Watie
Pekanbaru, Riau
Nathanael Benny Prasetyo
Palembang, Sumatera Selatan
EAST INDONESIA
Sonny Muljadi
Surabaya, Jawa Timur
Ni Made Dwi Hapsari Wijayanti
Denpasar, Bali
Ivan Jaka Perdana
Malang, Jawa Timur
Arifin Pribadi
Makasar, Sulawesi Selatan
CENTRAL JAVA, AREA
Agus Bambang Suseno
Solo, Jawa Tengah
Mariana Kusuma Wati
Semarang, Jawa Tengah
WEST JAVA
Asep Saepudin
Bandung, Jawa Barat
Ariffianto
Cirebon, Jawa Barat
PT Trimegah Securities Tbk
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t. +62-21 2924 9088
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www.trimegah.com
DISCLAIMER
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