C lo sing 1-D ay C hg () YT D C hg ()

  Wednesday, October 24, 2018

  ID X S t a t is t ic s C lo s ing Volume JCI Index

  7,000 20,000

  JCI 5,797.89 Transactio n Value Regular M arket (IDR tn) 4.704

  6,000 15,000

  Transactio n Vo lume Regular M arket (mn shares) 6,158

  5,000 10,000

  Fo reign Net B uy (Sell) (IDR bn) (78)

  4,000 5,000

  Fo reign Net B uy (Sell) (4.05) To tal M arket Capitalizatio n (IDR tn) 6,575.35

  3,000 Y T D O t he r Indic e s C lo s ing 1- D a y C hg ( %) C hg ( %) IHSG turun sebanyak 42.5 poin (0.73%) ke level 5797.89.

  LQ45 910.88 (0.81) (15.61)

  Sementara LQ45 turun sebanyak 7.5 poin (0.81%) ke level

  EIDO

  21.76 0.00 (23.46) 910.88. Foreign net sell sebesar Rp 77.84 miliar.

  IDX

  19.65 0.26 (20.89) DOW JONES 25,191.43 (0.50)

  1.91 S&P 500 2,740.69 (0.55)

  2.51 NA SDA Q 7,437.54 (0.42)

  7.74 Today’s Market: FTSE 6,955.21 (1.24) (9.53)

  

 IHSG diperkirakan bergerak mixed. Bursa AS ditutup NIKKEI 22,010.78 (2.67) (3.31)

melemah pada perdagangan Selasa (23/10). Harga crude

  HA NG SENG 25,346.55 (3.08) (15.28)

  oil turun ke level USD 66.31 per barrel. Harga batubara

  STRA ITS TIM ES 3,031.39 (1.52) (10.92)

  stabil di level USD 109.50 per Mt. Rupiah bergerak stabil

  KLSE 1,697.60 (1.44) (5.52)

  terhadap Dollar AS ke level Rp 15.197. 10Yr Government Bonds Yield stabil di level 8.66%.

  Y T D C urre nc y S po t R a t e R a t e ( ID R ) 1- D a y C hg ( %)  Dari dalam negeri, Bank Indonesia (BI) memutuskan un-

  C hg ( %) tuk mempertahankan tingkat suku bunga acuan BI 7-Day

  USD/IDR 15,197.00

  0.00

  10.78 Reverse Repo Rate pada level 5,75% . EUR/IDR 17,422.37

  0.10

  6.89

   Sehubungan dengan emiten, Industri Jamu dan Farmasi

  JP Y/IDR 135.05

  0.20

  10.85 Sido Muncul (SIDO) mencatat penjualan hingga kuartal III SGD/IDR 11,019.41

  0.15

  7.92

  2018 sebesar Rp 1.94 triliun (+4,86% YoY) dengan -

  A UD/IDR 10,773.66

  0.37

  1.74 laba bersih sebesar Rp 480,11 miliar (+26,21% YoY). GB P /IDR 19,721.23 (0.03)

  7.15

   Sehubungan dengan emiten, BFI Finance (BFIN) mencat- atkan pendapatan hingga September 2018 sebesar Rp 3,7

triliun, naik 27,5% secara tahunan. Laba bersih tercatat La s t Y T D

C o m m o dit ie s P ric e T ra ns a c t io n C hg ( %) sebesar Rp 1,1 triliun, naik 30% secara tahunan.

  Crude Oil (USD/barrel) 66.31 7:51:53 A M

  9.75

   Sehubungan dengan emiten, Indo Tambangraya Megah (ITMG) melalui RUPS akan melaksanakan pembagian Divi- Co al (USD/mn to ns) 109.50 10/23/2018

  8.63

  den Tunai Interim 2018 sebesar Rp 1,420 per selembar

  Natural Gas (USD/mmB tu) 3.22 7:51:41 A M

  9.18 saham. Cum Dividen jatuh pada tanggal 30 Oktober 2018. Go ld (USD/o unce) 1,231.34 8:01:55 A M (5.49)

   Secara teknikal indeks hari Rabu (24/10), IHSG diprediksi

  Nickel (USD/mn to ns) 12,445.00 8:01:50 A M (2.47) bergerak di kisaran 5780-5814. Tins (USD/mn to ns) 19,290.00 7:46:20 A M (3.67) CP O (M YR/mn to ns) 2,122.00 10/23/2018 (13.18) Rubber (JP Y/kg) 143.50 10/23/2018 (30.14) Wheat (USD/bushel) 510.00 7:50:56 A M

  19.38 Co rn (USD/bushel) 368.50 7:50:55 A M

  5.06 HOLD: REDUCE: TBIG

   CPIN, PTBA, PGAS Source: Bloomberg, Sinarmas Investment Research

  See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  Daily Corporate and Industry News

Bank-bank di Tanah Air diperkirakan masih menaikkan suku bunga simpanan dan bunga kredit pada kuartal IV tahun

ini, mengingat kenaikan suku bunga acuan Bank Indonesia (BI) bulan lalu belum secara penuh ditransmisikan ke

bunga perbankan. Meski sedang menjalani rezim bunga tinggi, bank-bank tetap ekspansif karena permintaan kredit

tetap kuat, terutama di segmen modal kerja dan investasi. Source: Investor Daily

Bank Indonesia (BI) memutuskan untuk mempertahankan tingkat suku bunga acuan BI 7-Day Reverse Repo Rate

pada level 5,75%, guna mendorong daya tarik pasar keuangan dan menahan suku bunga deposit facility 25 bps

menjadi 5% dan lending facility menjadi 6,5%. Source: Investor Daily

Pemerintah mengklaim, kinerja neraca APBN selama kepemimpinan Joko Widodo (Jokowi) dan Jusuf Kalla (JK) pada

2014-2018 dalam kondisi kredibel, aman, dan sehat. Ini dibuktikan dengan sejumlah indikator seperti defisit APBN

yang terus turun, defisit keseimbangan primer berkurang hingga mendekati nol, penerimaan perpajakan naik dras-

tis, dan pertumbuhan pembiayaan utang yang menipis. Dari 2014 komoditas menurun sehingga perekonomian

mendapat tekanan. Waktu itu defisit APBN 2,3% dari PDB dan sekarang menuju 2,1% pada 2018. Bahkan outlook

untuk 2018 bisa mendekati 2% dan akan didesain di 1,8% di 2019. Source: Investor Daily

Bank Indonesia (BI) mencatat pelemahan rupiah secara year to date (ytd) terhadap dolar Amerika Serikat telah

terdepresiasi 10,65%, namun BI memastikan volatilitas masih terjaga. Source: Investor Daily

Lembaga Penjamin Simpanan (LPS) mencatat masalah yang dialami industri perbankan saat ini bukan dari permoda-

lan, namun kondisi likuiditas yang mulai mengetat. Hal tersebut tercermin dari loan to deposit ratio (LDR) perbankan

yang sudah mencapai 93,19% per Agustus 2018 dan masuk batas atas dari ketentuan regulator. Source: Investor

Daily

Perusahaan yang telah merealisasikan DMO lebih dari 25% dari total produksinya dapat mengalihkan (transfer) ke

perusahaan batu bara yang realisasi penjualan batubara domestiknya masih di bawah 25%. Sebanyak 20 perus-

ahaan batu bara mengajukan transfer kuota dalam memenuhi kewajiban suplai pasar domestik. Source: Bisnis Indo-

nesia

Nilai ekonomi perikanan nasional hingga triwulan II-2018 telah mencapai Rp 187,75 triliun, separuh lebih dari real-

isasi nilai perikanan Indonesia sepanjang 2017 yang sebesar Rp 349,53 triliun. Sementara nilai ekonomi perikanan

2016 dan 2015 masing-masing sebesar Rp 317,09 triliun dan Rp 288,90 triliun. Kondisi tersebut menunjukkan bah-

wa kontribusi sektor kelautan dan perikanan terhadap pertumbuhan perekonomian nasional terus meningkat selama

pemerintahan Presiden Joko Widodo dan Wakil Presiden Jusuf Kalla (Jokowi-JK). Source: Investor Daily

Pemerintah bertekad meneken 13 kerja sama perdagangan internasional untuk menggenjot ekspor. Saat ini, ter-

dapat delapan perundingan yang berjalan negosiasinya, yaitu Indonesia-EFTA CEPA, Indonesia-Iran PTA, Indonesia

Turkey CEPA, Indonesia-Mozambik PTA, Indonesia Tunisia PTA, Indonesia-Australia CEPA, RCEP, dan Indonesia-EU

CEPA. Source: Investor Daily

Total investor di pasar modal hingga pertengahan Oktober 2018 menembus 1,5 juta, berdasarkan data single inves-

tor identification (SID) yang tercatat di PT Kustodian Sentral Efek Indonesia (KSEI). Hingga akhir tahun ini, jumlah

investor diperkirakan bertambah 100-200 ribu, sehingga totalnya bisa mencapai 1,7 juta investor. Source: Investor

Daily

Bank Permata (BNLI) mendorong perolehan pendapatan berbasis komisi atau fee based income (FBI) untuk menjaga

tingkat profitabilitas dengan menjalin kerjasama dengan PT Indo Premier Sekuritas dalam hal pembukaan rekening

dana nasabah (RDN). Source: Bisnis Indonesia

Unilever Indonesia (UNVR) membukukan laba bersih sebesar Rp 7,3 triliun hingga September 2018, melonjak 39,6%

dibandingkan periode sama tahun lalu Rp 5,23 triliun. Pencapaian tersebut ditopang kenaikan total penjualan 9,03%

dari Rp 31,21 triliun menjadi Rp 31,5 triliun. Adapun dari pencapaian total penjualan Rp 31,5 triliun sampai Septem-

ber lalu, porsi kontribusi penjualan selama kuartal III-2018 tercatat mencapai Rp 10.3 triliun, atau naik 5,5%, belum

memperhitungkan pendapatan yang diraih Unilever Indonesia atas penjualan aset berkategori spreads. Sebab, me-

lalui aksi korporasi penjualan aset kategori spreads, perseroan meraih tambahan pendapatan sebesar Rp2,8 triliun.

Source: Investor Daily

  See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  Daily Corporate and Industry News

Industri Jamu dan Farmasi Sido Muncul (SIDO) mencatat penjualan hingga kuartal III-2018 sebesar 1.94 triliun

(+4,86% YoY) dengan laba bersih sebesar Rp480,11 miliar (+26,21% YoY). Source: Bisnis Indonesia Ace Hardware Indonesia (ACES) akan membuka sekitar 3 gerai lagi tahun ini. Source: Bisnis Indonesia

Adi Sarana Armada (ASSA) merilis aplikasi online penyewaan mobil Share Car dan situs layanan jual-beli mobil

bekas bernama caroline-id.com. Perusahaan menginvestasikan dana Rp 12,5 miliar untuk Share Car dan Rp 6 miliar

untuk caroline-id.com. Source: Kontan

Telekomunikasi Indonesia (TLKM) melalui anak usahanya Telkomsel saat ini fokus mengembangkan MSight, bisnis

solusi big data untuk klien pemerintah dan perusahaan di industri keuangan. Msight saat ini telah dipakai Badan

Pusat Statistik dan Badan Perencana Pembangunan Nasional. Source: Bisnis Indonesia

Pelayaran Tamarin Samudra (TAMU) memastikan akan membeli kapal pada kuartal IV 2018 dengan realisasi selam-

bat-lambatnya pada bulan Desember. Target perolehan dana sekitar US$ 25 juta hingga US$ 30 juta ini akan berasal

dari pinjaman bank atau penerbitan saham baru. Source: Kontan

Lippo Karawaci (LPKR) meraih laba periode berjalan yang dapat didistribusikan ke pemilik entitas induk hingga peri-

ode 30 Juni 2018 sebesar Rp1,14 triliun naik tajam dibandingkan laba Rp487,34 miliar di periode sama tahun sebe-

lumnya. Source: IQPlus

Yelooo Integra Datanet (YELO) mencatat kelebihan permintaan (oversubscribed) saham perdana hingga 10,27 kali

selama periode bookbuilding. Perusahaan yang dikenal dengan Passpod ini menggelar penawaran umum perdana

(initial public offering/ IPO) saham dengan target dana Rp 48 miliar. Source: Investor Daily

  See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  World Equity Indices Source: Bloomberg, Sinarmas Investment Research www.sinarmassekuritas.co.id See important disclaimer at the end of this report WO R LD E Q UIT Y IN D IC E S N O T IC KE R

  15.47

  8.99

  7.72

  1.46 1.36 6,725.96

  50.36

  26 NKY Index 24,448.07 20,347.49 (754.16) (3.31)

  19.40

  1.90 1.75 374,054.05 3,333.52

  3.39 3.34 4,149,644.80 273.47

  27 NEY Index 376.09 323.31 (27.19) (7.61)

  16.05

  11.84

  1.38 1.28 419,856.22 3,741.70

  28 TP X Index 1,911.31 1,645.16 (166.84) (9.18)

  16.34

  12.82

  25 KSE100 Index 47,144.12 36,274.25 (2,756.58) (6.81)

  15.76

  29 FB M KLCI Index 1,896.03 1,657.78 (99.21) (5.52)

  22 NIFTY Index 11,760.20 9,951.90 (383.90) (3.65)

  9.18

  7.77

  1.05 0.99 10,584.29 1,350.28

  21 SENSEX Index 38,989.65 32,483.84 (209.60) (0.62)

  24.56

  18.33

  3.12 2.89 60,659.00 826.51

  23.83

  21.16

  17.63

  3.12 2.88 74,114.05 1,009.84

  23 JCI Index 6,693.47 5,557.56 (557.76) (8.78)

  24.63

  15.16

  2.58 2.53 6,575,345.66 433.33

  24 LQ45 Index 1,132.92 871.91 (168.50) (15.61)

  1.41 1.29 621,147.84 5,535.58

  16.68

  1.39 1.28 16,444.15 2,097.84

  2.08 1.97 16,736.24 509.38

  34 TWSE Index 11,270.18 9,740.76 (867.66) (8.15)

  15.55

  12.75

  1.75 1.61 27,759.62 896.48

  35 SET Index 1,852.51 1,584.68 (95.15) (5.43)

  18.90

  15.32

  36 SET50 Index 1,223.67 1,043.32 (41.99) (3.70)

  8.58

  17.52

  15.09

  2.26 2.14 11,489.62 349.70

  37 VNINDEX Index 1,211.34 814.92 (44.56) (4.53)

  18.98

  16.15

  2.81 2.60 3,017,979.65 129.31

  1.05 0.96 1,363,351.30 1,198.71

  12.81

  16.41

  82.19

  1.67 1.56 1,059.78 254.69

  30 NZSE Index 1,652.90 1,433.28

  9.90

  0.66

  19.27

  20.23

  2.03 1.88 125.30

  31 P COM P Index 9,078.37 6,790.58 (1,360.80) (15.90)

  33 KOSP I Index 2,607.10 2,094.69 (361.39) (14.65)

  22.98

  16.78

  2.51 2.49 9,013.60 167.53

  32 FSSTI Index 3,641.65 3,029.60 (371.53) (10.92)

  11.08

  12.30

  1.22 1.15 525.66 381.35

  20 HSCEI Index 13,962.53 9,975.77 (1,474.40) (12.59)

  10.52

  1 INDU Index 26,951.81 23,242.75 472.21

  1.67 1.53 2,712.45 3,114.44

  19.72

  15.85

  2.65 2.49 5,619.41 289.73

  6 SX5E Index 3,708.82 3,132.29 (363.02) (10.36)

  18.41

  13.01

  7 UKX Index 7,903.50 6,866.94 (732.56) (9.53)

  1.91 1.81 2,343.52 1,790.18

  23.27

  12.35

  1.97 1.82 1,913.81 2,487.19

  8 CA C Index 5,657.44 4,955.67 (344.87) (6.49)

  18.43

  13.23

  1.67 1.51 1,476.45 1,695.26

  5 M EXB OL Index 51,121.23 44,429.36 (2,905.39) (5.89)

  14.83

  19.19

  22.49

  1.91

  20.64

  15.84

  3.88 3.69 7,112.67 7,112.67

  2 SP X Index 2,940.91 2,532.69

  67.08

  2.51

  16.81

  19.81

  3.30 3.11 24,019.18 24,019.18

  3 CCM P Index 8,133.30 6,517.93 534.15

  7.74

  40.71

  21.85

  3.80 3.48 11,632.48 11,632.48

  4 SP TSX Index 16,586.46 14,785.78 (923.96) (5.70)

  9 DA X Index 13,596.89 11,228.50 (1,643.36) (12.72)

  12.30

  13.71

  17 SHA SHR Index 3,757.20 2,564.94 (746.05) (21.54)

  18.90

  14.91

  2.00 1.86 1,894.33 1,341.38

  16 SHSZ300 Index 4,403.34 3,009.50 (847.43) (21.02)

  16.47

  10.93

  2.05 1.95 25,374.37 3,657.09

  16.86

  2.08 1.95 1,748.61 1,238.19

  10.60

  1.80 1.71 27,677.40 3,989.02

  18 SZA SHR Index 2,140.56 1,267.27 (626.95) (31.56)

  29.07

  15.11

  3.12 2.90 16,762.10 2,415.84

  19 HSI Index 33,484.08 25,090.30 (4,572.60) (15.28)

  15 A S30 Index 6,481.30 5,834.00 (222.44) (3.61)

  14.76

  1.86 1.70 1,043.92 1,198.63

  12 A EX Index 576.90 509.20 (33.72) (6.19)

  10 IB EX Index 10,643.40 8,681.90 (1,317.80) (13.12)

  14.97

  11.54

  1.47 1.36 543.79 624.38

  11 FTSEM IB Index 24,544.26 18,705.16 (3,050.87) (13.96) 794.78

  10.32

  1.18 1.03 448.16 514.58

  18.91

  17.95

  13.62

  1.91 1.76 625.72 718.45

  13 SM I Index 9,616.38 8,372.90 (614.72) (6.55)

  24.59

  15.38

  2.59 2.48 1,067.06 1,072.64

  14 A S51 Index 6,373.50 5,724.80 (222.04) (3.66)

  A s ia / P a c if ic A m e ric a 5 2 - WE E K C H A N G E Y T D P E R ( x) P B V ( x) M A R KE T C A P ( B n) E uro pe H IG H LO W P O IN T % 2 0 17 2 0 18 E 2 0 17 2 0 18 E D o m a in C urre nc y US D

  LQ45 Source: Bloomberg, Sinarmas Investment Research www.sinarmassekuritas.co.id See important disclaimer at the end of this report LQ45 Index HIGH LOW POINT % 2017 2018E 2017 2018E

  9.89

  34.29

  20.77

  15.49

  0.99 1.19 56,967.54

  31 PTBA IJ 4,510 4,940 2,090 2,050

  83.33

  5.79

  1.91 3.05 51,958.17

  10 9.09 - - - - 10,404.39

  32 PTPP IJ 1,535 3,280 1,465 (1,105) (41.86)

  11.26

  5.51

  1.43 0.73 9,516.84

  33 PWON IJ 488 725 432 (197) (28.76)

  17.62

  10.78

  3.20 1.93 23,501.89

  30 PGAS IJ 2,350 2,860 1,505 600

  29 MYRX IJ 120 198 101

  27.24

  18.09

  21.11

  15.60

  3.08 1.85 30,918.53

  25 KLBF IJ 1,320 1,785 1,155 (370) (21.89)

  32.96

  25.10

  5.96 4.25 61,875.16

  26 LPKR IJ 298 710 256 (190) (38.93)

  8.61

  1.86 1.08 11,135.36

  0.49 0.32 6,879.98

  27 LPPF IJ 4,990 11,975 4,930 (5,010) (50.10)

  15.29

  7.37

  12.53 3.94 14,560.41

  28 MNCN IJ 780 1,690 700 (505) (39.30)

  11.78

  7.25

  34 SCMA IJ 1,685 2,980 1,645 (795) (32.06)

  15.85

  3.29 2.68 60,188.14

  7.43

  2.91 2.30 119,830.59

  42 UNVR IJ 44,500 58,100 40,400 (11,400) (20.39)

  60.89

  44.38

  82.44 55.40 339,535.00

  43 WIKA IJ 1,240 2,190 1,210 (310) (20.00)

  11.55

  1.10 0.78 11,122.74

  17.84

  44 WSBP IJ 340 510 332 (68) (16.67)

  10.56

  7.38

  1.47 0.99 8,962.79

  45 WSKT IJ 1,555 3,150 1,535 (655) (29.64)

  7.38

  4.54

  2.14 1.12 21,107.42

  11.65

  41 UNTR IJ 32,125 40,500 30,775 (3,275) (9.25)

  9.30 5.01 24,637.40

  3.54 2.72 12,382.50

  35 SMGR IJ 9,100 11,775 6,500 (800) (8.08)

  29.14

  26.47

  2.03 1.79 53,976.83

  36 SRIL IJ 356 398 302 (24) (6.32) 7.26 - 1.18 - 7,280.97

  37 SSMS IJ 1,300 1,545 1,005 (200) (13.33)

  17.92

  14.53

  38 TLKM IJ 3,700 4,419 3,250 (699) (15.89)

  1 0.51 - - - - 9,877.10

  19.68

  17.35

  4.70 3.64 366,530.20

  39 TPIA IJ 4,470 6,675 4,300 (1,530) (25.50)

  23.81

  26.78

  4.74 2.97 79,715.84

  40 TRAM IJ 199 432 139

  24 JSMR IJ 4,260 6,775 3,920 (2,140) (33.44)

  50.63

  1 ADHI IJ 1,265 2,510 1,255 (620) (32.89)

  11.46

  4.11 3.77 565,832.46

  7 BBNI IJ 7,125 10,175 6,675 (2,775) (28.03)

  13.56

  8.62

  1.87 1.23 132,871.68

  8 BBRI IJ 3,020 3,920 2,720 (620) (17.03)

  15.34

  2.67 2.00 372,504.35

  23.17

  9 BBTN IJ 2,300 3,890 2,110 (1,270) (35.57)

  12.49

  7.25

  1.75 0.98 24,357.00

  10 BJBR IJ 1,820 2,730 1,795 (580) (24.17)

  19.20

  11.97

  2.31 1.72 17,647.25

  21.94

  4.79

  20.93

  28.11

  13.02

  5.68

  1.15 0.68 4,504.47

  2 ADRO IJ 1,700 2,650 1,575 (160) (8.60)

  9.06

  7.47

  1.26 0.97 54,376.14

  3 AKRA IJ 3,600 8,025 3,220 (2,750) (43.31)

  13.64

  6 BBCA IJ 22,950 25,475 20,200 1,050

  3.37 1.71 14,452.90

  4 ANTM IJ 755 1,015 600 130 20.80 -

  23.38

  0.81 0.97 18,143.23

  5 ASII IJ 7,350 8,750 6,100 (950) (11.45)

  17.83

  14.01

  2.72 2.20 297,554.12

  11 BMRI IJ 6,425 9,050 6,175 (1,575) (19.69)

  12.42

  43.45

  1.16 1.08 31,299.47

  16.13 12.59 443,171.87

  19 ICBP IJ 8,750 9,275 7,900 (150) (1.69)

  27.31

  24.21

  5.31 4.70 102,041.70

  20 INCO IJ 3,150 4,720 2,570 260 9.00 -

  25.95

  21 INDF IJ 5,800 8,500 5,500 (1,825) (23.93)

  43.54

  16.18

  11.78

  2.15 1.50 50,926.47

  22 INDY IJ 2,450 4,630 2,160 (610) (19.93)

  3.50

  4.25

  1.27 0.85 12,764.97

  23 INTP IJ 16,350 23,950 12,500 (5,600) (25.51)

  33.75

  18 HMSP IJ 3,810 5,550 3,230 (920) (19.45)

  2.24 1.66 299,833.33

  1.29 0.78 21,845.00

  12 BMTR IJ 334 755 332 (256) (43.39) - - 0.88 - 4,742.34

  13 BRPT IJ 1,830 2,720 1,510 (430) (19.03)

  30.00

  20.10

  2.16 1.19 32,558.60

  14 BSDE IJ 1,135 1,965 930 (565) (33.24)

  6.61

  8.62

  15 BUMI IJ 170 356 170 (100) (37.04)

  3.82 3.25 150,078.86

  2.57 1.87 - - 11,130.82

  16 EXCL IJ 2,820 1,710 (140) (4.73)

  85.16

  73.21

  1.46 1.37 30,140.05

  17 GGRM IJ 78,000 86,400 61,925 (5,800) (6.92)

  20.80

  17.83

  MARKET CAP (Bn) LQ45 Index CHANGE YTD PER (x) PBV (x) 23-Oct-18 52-WEEK

  Macro data S e c t o rs D e s c ript io n 1- D a y ( %) 5 - D a ys ( %) 1- M o nt h ( %) Y T D ( %)

  P ro perty (0.42) 1.21 (2.66) (17.40) B asic Industry (0.85) 2.31 (7.53)

  8.98 Trade (0.46) (0.68) (4.41) (14.84) Finance (0.77) (1.22) (1.93) (8.60) M iscellaneo us Industry

  0.84

  4.59 3.45 (8.57) Co nsumer (0.36) (0.44) 0.39 (13.98) Infrastructure (2.01) (0.31) 3.13 (11.87) A griculture (0.99) 3.68 (0.81) (3.81) M ining (1.40) (0.88) (1.66)

  18.66 E c o no m ic Indic a t o rs

  E c o no m ic P a ra m e t e rs S e p- 18 A ug- 18

  Inflatio n YTD (in %)

  1.94

  3.61 Inflatio n Yo Y (in %)

  2.88

  3.20 Inflatio n M o M (in %) -0.18 -0.05 Fo reign Reserves (in USD bn)

  114.85 117.93

  F O R E X S po t R a t e 1- D a y ( %) 1- M o nt h ( %) Y T D ( %)

• USD/IDR 15,188.00 (2.12) (10.75) USD/CNY

  6.94 0.14 (1.17) (6.22) USD/EUR

  0.87

  0.01

  2.43

  4.67 USD/JP Y 112.41

  0.03

  0.35

  0.25 USD/SGD

  1.38 0.07 (0.89) (3.05) USD/A UD 1.41 (0.07)

  2.27

  10.09 USD/GB P

  0.77

  0.00

  1.05

  4.05 Le nding a nd D e po s it R a t e s ( in %) JIB OR (in IDR)

  7.63 LIB OR (in GB P )

  1.07 SIB OR ( in USD)

  1.46 Indo nesia 5-Year Go vernment B o nds Yield

  8.48 Indo nesia 10-Year Go vernment B o nds Yield

  8.66 Indo nesia 15-Year Go vernment B o nds Yield

8.89 Source: Bloomberg, Sinarmas Investment Research

  See important disclaimer at the end of this report www.sinarmassekuritas.co.id

  St a t e Bu dge t 2 0 1 6 2 0 1 7 2 0 1 8

  I N D I CA T OR LKPP A PBN P RA PBN GD P Gr ow th ( % , YoY) 5,0% 5,2% 5,4% Ex change r ate ( USD / I D R) 13307 13300 13500 I nflation ( % , YoY)

  3% 4,3% 3,5%

  3 Months SPN ( % ) 5,7% 5,2% 5,3% I ndonesian C r ude Oil ( USD / bar r el)

  40

  45

  48 Oil Lifting ( thousands bar r el/ day ) 829 815 800 Gas Lifting ( thousands, BOE/ day )

  1.18

  1.15

  1.2 Total State Budget ( in I D R tr illion) 1556 1714 1878 Upcom in g I PO

  I PO I ssu e d Co m p a n y Bu sin e ss Pr ice Sh a r e s Of f e r in g Da t e ( 2 0 1 7 ) List in g Un d e r w r it e r ( Rp ) ( Mn ) Madusar i Mur ni I ndah 495.9 23/ 08/ 2018 - 27/ 08/ 2018 30- Aug- 18 Tr im itr a Pr oper tindo Tbk 773.3 10/ 07/ 2018 - 14/ 08/ 2018 23- Aug- 18 MD Pictur es Tbk 1981.0 25/ 07/ 2018 - 31/ 07/ 2018 07- Aug- 18 Mahk ota Gr oup Tbk 703.7 03/ 07/ 2018 - 09/ 07/ 2018 12- Jul- 18 NFC I ndonesia Tbk 166.7 03/ 07/ 2018 - 05/ 07/ 2018 12- Jul- 18

  D ivide n d

St o ck D PS ( Rp ) St a t u s Cu m D a t e Ex D a t e Re co r d in g Pa y m e n t

  AALI 112 04/ 10/ 2018 05/ 10/ 2018 09/ 10/ 2018 19/ 10/ 2018 ASI I

  60 04/ 10/ 2018 05/ 10/ 2018 09/ 10/ 2018 31/ 10/ 2018 BSSR 151 02/ 10/ 2018 03/ 10/ 2018 05/ 10/ 2018 19/ 10/ 2018 D VLA

  37 02/ 10/ 2018 03/ 10/ 2018 05/ 10/ 2018 26/ 10/ 2018 TPI A USD 0.00162 28/ 09/ 2018 01/ 10/ 2018 03/ 10/ 2018 24/ 10/ 2018

  HEXA USD 0.02148 25/ 09/ 2018 26/ 09/ 2018 28/ 09/ 2018 19/ 10/ 2018

  I KBI

  5 18/ 09/ 2018 19/ 09/ 2018 21/ 09/ 2018 10/ 10/ 2018

XI SB

  1.98 13/ 09/ 2018 14/ 09/ 2018 18/ 09/ 2018 20/ 09/ 2018 JPFA 50 05/ 09/ 2018 06/ 09/ 2018 10/ 09/ 2018 24/ 09/ 2018

  Righ t s I ssu e T ick e r Ra t io Pr ice ( Rp ) Cu m Da t e EX Da t e T r a d in g RBMS 99 : 100 200 05/ 10/ 2018 08/ 10/ 2018 12/ 10/ 2018 - 18/ 10/ 2018 MAYA

  1 : 6 2,200 03/ 10/ 2018 04/ 10/ 2018 10/ 10/ 2018 - 16/ 10/ 2018

AGRO 271 : 1000 400 06/ 09/ 2018 07/ 09/ 2018 14/ 09/ 2018 - 20/ 09/ 2018

www.sinarmassekuritas.co.id See important disclaimer at the end of this report

  Te ch n ica l Cor n e r JCI : M I XED Last price : 5.797 Support : 5.781, 5.719 Resist ance : 5.868, 5.921

JCI pada hari ini kam i perkirakan kem bali bergerak dengan kecenderungan M I XED , dengan Range 5.781 —

5.868. JCI m asih bergerak Sideway dan belum berhasil break Resist ance 5.868 degan Support di level 5.781

dan 5.719. Nam un, j ika JCI berhasil break Support 5.781, m aka JCI akan m elanj ut kan pelem ahan dengan

m enguj i Support 5.719 dan 5.669.

  Ja k a r t a Com posit e I n de x ( JCI ) Su m m a r y of por t folio: Stock Recommendation Comment

  Pola candle Whit e Spinning t op, ada peluang akan m enguj i Support 5.450 PTBA HOLD Belum break Resist ance 4.680, berpeluang m encoba Support 4.490.

CPIN HOLD

  TBIG REDUCE Telah berhasil break Support 5.075 sebagai level Cut Loss PGAS HOLD Pola Candle I nvert ed Ham m er,indikst or Ma5 & Ma20 m asih m engindikasi- kan t rend bullish. ²⁰¹⁸

^{Feb Mar Apr May Jun Jul Aug Sep Oct}

^{5,600 5,700 5,800 5,900 6,000 6,100 6,200 6,300 6,400 6,500 6,600 6,700 5956 5868 5719 5921 5781.29 COMPOSITE - Daily 10/23/2018 4:00:00 PM Open 5838.69, Hi 5847.69, Lo 5797.34, Clos e 5797.89 (-0.7%) MA(Clos e,50) = 5,870.74 5,797.89 5,870.74 2018 Feb Mar Apr May Jun Jul Aug Sep Oct -100 100 COMPOSITE - MACD(12,26) = -17.43, Signal(12,26,9) = -24.29}

• ^{-17.4305 -24.2921}
^{20 80 COMPOSITE - Stoch %K(15,3) = 54.67, Stoch %D(15,3,3) = 56.32 54.6711 56.3173 COMPOSITE - RSI(15) = 46.86}

  Ch a r oe n Pok ph a n d I n don e sia Tbk ( CPI N ) Ta m ba n g Ba t u ba r a Bu k it Asa m Tbk ( PTBA) CPI N : H OLD Last price : 5.575 Target price : 5.900 ( 5.8% ) St op loss : 5.350 ( - 4.0% )

Ent ry point 5.550 kem arin ( 22/ 10) sudah t ercapai. Nam un, CPI N belum berhasil break Resist ance 5.775 dan berpe-

luang m enguj i Support 5.450. Kam i m asih m erekom endasikan unt uk H OLD CPI N selam a belum break Support 5.350.

  CPI N m asih didukung oleh I ndicat or MACD dan St oc osc yang m engindikasikan pola Upt rend.

  PTBA : H OLD Last price : 4.510 Target price : 4.790 ( 6.2% ) St op loss : 4.430 ( - 1.8% )

Ent ry point 4.610 kem arin ( 23/ 10) sudah t ercapai, Nam un, PTBA belum berhasil break Resist ance 4.680 dan berpe-

luang m enguj i Support 4.490. Kam i m asih m erekom endasikan unt uk H OLD PTBA selam a belum break Support 4.430.

  

Support : 5.450, 5.350

Resist ance : 5.775, 5.900

Support : 4.490, 4.430

Resist ance : 4.790, 4.870

^{Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 3,000 3,200 3,400 3,600 3,800 4,000 4,200 4,400 4,600 4,800 5,000 5,200 5,400 5,600 5,800 5450 5350 5550 5900 5775 6000 CPIN - Daily 10/23/2018 4:13:00 PM Open 5550, Hi 5650, Lo 5525, Clos e 5575 (0.5%) MA(Clos e,50) = 5,016.40 5,575 5,016.4 Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 100 200 MACD(12,26) 300 CPIN - = 140.51, Signal(12,26,9) = 85.41 140.514 85.4133 20 80 CPIN - Stoch %K(15,3) = 79.05, Stoch %D(15,3,3) = 82.66 79.0476 82.6631 Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 2,200 2,400 2,600 2,800 3,000 3,200 3,400 3,600 3,800 4,000 4,200 4,400 4,600 4,800 5,000 4680 4490 4740 4610 4430 4870 PTBA - Daily 10/23/2018 4:14:00 PM Open 4600, Hi 4640, Lo 4510, Clos e 4510 (-2.2%) MA(Clos e,50) = 4,257.60 4,510 4,257.6 Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct -100 100 200 PTBA - MACD(12,26) = 82.10, Signal(12,26,9) = 92.64 82.1001 92.638 20 80 PTBA - Stoch %K(15,3) = 50.69, Stoch %D(15,3,3) = 52.16 50.6944 52.1566 PTBA - RSI(15) = 54.77}

  Tow e r Be r sa m a I n fr a st r u ct u r e Tbk ( TBI G) _{TBIG - Daily 10/23/2018 4:05:00 PM Open 5175, Hi 5200, Lo 4970, Clos e 4970 (-4.4%) MA(Clos e,50) = 5,432.10 5700 5800 5,600 5,700 5,800 5,900 6,000} 5550 _{5450 5,432.1 5225 5150 5075 5325 5,300 5,500 5,000 5,100 5,200 5,400 Mar Apr May Jun Jul Aug Sep Oct 4780 4890} 4,970 _{4,500 4,600 4,700 4,900 4,800 TBIG - Stoch %K(15,3) = 43.66, Stoch %D(15,3,3) = 44.99} TBIG - MACD(12,26) = -99.99, Signal(12,26,9) = -100.28 _{Mar Apr May Jun Jul Aug Sep Oct -99.9912 -100.278 44.9879 43.6594} ²⁰⁰ _{100 20 80 -100} TBIG - RSI(15) = 42.82

  TBI G : REDUCE Last price : 4.970

Support : 4.890, 4.780

St op loss : 5.075 Resist ance : 5.225, 5.325 TBI G t elah berhasil break Support 5.075 sebagai level CUT LOSS, TBI G m asih berpeluang m elanj ut kan pelem ahan dengan m enguj i Support 4.890 dan 4.780. I ndikat or MACD dan St oc Osc m engindiikasikan pola Downt rend.

  Pe r u sa h a a n Ga s N e ga r a Tbk ( PGAS) _{PGAS - Daily 10/23/2018 4:14:00 PM Open 2320, Hi 2420, Lo 2320, Clos e 2350 (0.4%) MA(Clos e,50) = 2,086.80 Trendline s ince Aug 2016 2490 2530 2,500 2,600 2,700 2,800 2,900 2400 2340 2090 2130 2190 2220 2,200 2,086.8 2,100 2,350} 2,400 _{2,000 2,300 PGAS - MACD(12,26) = 60.29, Signal(12,26,9) = 51.76 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 1,500 1,600 1,800} 1,900 _{1,700 PGAS - Stoch %K(15,3) = 80.73, Stoch %D(15,3,3) = 74.38 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 80.7283 51.7627 60.2858 74.3842} 200 _{100 20 80 -100} PGAS - RSI(15) = 60.25 PGAS : H OLD Last price : 2.350 Support : 2.290, 2.220 Target price : 2.490 ( 6.0% ) Resist ance : 2.450, 2.490 St op loss : 2.220 ( - 2.6% ) Ent ry point 2.340 kem arin ( 23/ 10) sudah t ercapai. Nam un, PGAS belum berhasil br eak Resist ance 2.450 dan PGAS berpeluang m enguj i Support 2.290 dan 2.220. Yang perlu diperhat ikan I ndikat or Macd dan St oc osc m engindikasikan

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