See important disclaimer at the end of this report

• I HSG diperkirakan bergerak m ixed. Bursa AS dit ut up m e- lem ah pada perdagangan Selasa ( 09/ 10) . Harga crude oil naik ke level USD 74.82 per barrel. Harga bat ubara t urun ke level USD 110.95 per Mt . Rupiah bergerak m elem ah t erhadap Dollar AS ke level Rp 15.223. 10Yr Governm ent Bonds Yield t urun ke level 8.63% .
• Dari dalam negeri, indust ri farm asi m ulai m enaikkan harga j ual produk unt uk m engkom pensasi pelem ahan nilai t ukar Rupiah t erhadap Dollar AS yang t elah m enem bus Rp 15 ribu. Kenaikan harga dilakukan m engingat 90% lebih ba- han baku farm asi adalah produk im por.

  8.06 AUD/IDR 10,849.71

  3,000 4,000 5,000 6,000 7,000

  5,000 10,000 15,000 20,000

  Se me n t a ra LQ4 5 n a ik se b a n ya k 7 .7 p o in (0 .8 5 % ) ke leve l 9 1 1 .8 2 . Fo re ig n n e t se ll se b e sa r Rp 3 0 0 .2 5 milia r.

  Top BUY: ACES, ELSA BoW : JSM R, I CBP I HSG n a ik se b a n ya k 3 5 .7 p o in (0 .6 2 % ) ke le ve l 5 7 9 6 .7 9 .

  Wednesday, October 10, 2018 Source: Bloomberg, Sinarmas Investment Research

  21.19 C o mmo dities Other Indices C lo sing 1-D ay C hg (%) YT D C hg (%) C urrency Spo t R ate R ate (ID R ) 1-D ay C hg (%) YT D C hg (%) P rice Last T ransactio n YT D C hg (%) Toda y ’s M a r k e t :

  1.68 Tins (USD/mn tons) 18,990.00 10/9/2018 (5.17) CPO (M YR/mn tons) 2,125.00 10/9/2018 (13.05) Rubber (JPY/kg) 157.80 6:54:50 AM (23.17) Wheat (USD/bushel) 517.50 7:53:13 AM

  12.09 Gold (USD/ounce) 1,190.90 8:03:41 AM (8.59) Nickel (USD/mn tons) 12,975.00 8:03:40 AM

  10.07 Natural Gas (USD/mmBtu) 3.31 7:52:51 AM

  23.83 Coal (USD/mn tons) 110.95 10/9/2018

  8.00 Crude Oil (USD/barrel) 74.82 7:53:35 AM

  0.00

  2.34 GBP/IDR 19,915.98

  0.71

  0.46

  10.65 SGD/IDR 11,043.83

  0.13

  7.38 JPY/IDR 134.78

  0.30

  11.04 EUR/IDR 17,536.23

  0.00

  3.09 HANG SENG 26,172.91 (0.11) (12.52) STRAITS TIM ES 3,166.60 (0.47) (6.94) KLSE 1,774.15 (0.09) (1.26) USD/IDR 15,223.00

  12.09 FTSE 7,237.59 0.06 (5.86) NIKKEI 23,469.39 (1.32)

  0.03

  7.73 NASDAQ 7,738.02

  6.92 S&P 500 2,880.34 (0.14)

  IDX 19.41 (0.41) (21.86) DOW JONES 26,430.57 (0.21)

  21.49 (0.23) (24.41)

  ID X Statistics C lo sing JCI 5,796.79 Transaction Value Regular M arket (IDR tn) 4.279 Transaction Volume Regular M arket (mn shares) 6,456 Foreign Net Buy (Sell) (IDR bn) (300) Foreign Net Buy (Sell) (3.92) Total M arket Capitalization (IDR tn) 6,557.37 LQ45 911.82 0.85 (15.52) EIDO

  Volume JCI Index

• Sehubungan dengan em it en, PP Propert i ( PPRO) m engan- t ongi nilai pem asaran at au m arket ing sales senilai Rp3,52 t riliun sepanj ang Januari- Sept em ber 2018. Nilai t ersebut set ara dengan 93% dari t arget pra- penj ualan yang dipat ok pada t ahun ini sebesar Rp3,8 t riliun.
• Sehubungan dengan em it en, Jasa Marga ( Persero) ( JSMR) m elalui Jasam arga Pandaan Tol akan m enerbit kan inst ru- m en invest asi berupa Dana I nvest asi I nfrast rukt ur ( Dinfra) dengan t ot al nilai Rp1,5 t riliun, efekt if pada 8 Okt ober 2018.
• Secara t eknikal indeks har i Rabu ( 10/ 10) , I HSG diprediksi bergerak di kisaran 5769 - 5816.

  D a ily Cor por a t e a n d I n du st r y N e w s

Kepala Pusat Kebij akan Ek onom i Makro Badan Kebij akan Fiskal ( BKF) Kem ent erian Keuangan Adriyant o m em ast ikan,

asum si kurs rupiah dalam RAPBN 2019 m asih t et ap Rp 14.500 per dolar AS, sesuai kesepakat an dengan Badan Ang-

garan DPR. Rupiah yang sudah t erdepresiasi m enem bus level psikologis Rp 15.000 lebih per dolar AS m asih bisa

m em baik t ahun depan. Source: I nvest or Daily

Perang dagang ant ara Am erika Serikat ( AS) dan Tiongkok akan m em incangk an pert um buhan ekonom i global, se-

hingga Dana Monet er I nt ernasional ( I MF) pada Selasa ( 9/ 10) m em angkas proyeksinya unt uk t ahun ini dan t ahun

depan. I MF m em perkirakan sem ua negara akan m enderit a akibat pert arungan dua kekuat an t erbesar ekonom i dunia

t ersebut . Source: I nvest or Daily

  

I MF- World Bank Group Annual Meet ings, m em proyeksikan pelem ahan pert um buhan ekonom i dunia pada 2018 dan

2019 t urun m enj adi 3,7% , dari perkiraan sebelum nya 3,9% pada April lalu. I MF m em angkas proyeksi pert um buhan

ekonom i I ndonesia m enj adi 5.1% pada 2018, lebih rendah dibandingkan proyeksi sebelum nya yakni 5.3% . I MF j uga

m em proyeksikan defisit t ransaksi berj alan I ndonesia sepanj ang 2018 sebesar 2,4% dan relat if t idak berubah hingga

2019. Source: Bisnis I ndonesia

Gubernur Bank I ndonesia ( BI ) Perry Wariyo m engat akan, pem bangunan infrast rukt ur dengan pelibat an pem biayaan

swast a akan m endat angk an sej um lah m anfaat bagi perekonom ian I ndonesia. Salah sat u m anfaat it u adalah bisa

m endorong pert um buhan ekonom i hingga m enj adi 6.5% . Source: I nvest or Daily

Pert em uan t ahunan Dana Monet er I nt ernasional ( I MF) dan Bank Dunia ( World Bank) di Bali pada 8 - 14 Okt ober

dinilai bakal m em berikan dam pak posit if bagi I ndonesia, sepert i penerim aan paj ak yang m encapai sekit ar Rp 800

m iliar hingga m endekat i Rp 1 t riliun. Source: I nvest or Daily

Sej um lah bank m enilai, penerbit an Obligasi Negara Rit el ( ORI ) seri 015 oleh pem erint ah dengan kupon 8,25% at au

lebih t inggi dari bunga deposit o t idak berpengaruh signifikan t erhadap penghim punan dana pihak ket iga ( DPK) per-

bankan. Meski dem ikian, pert um buhan DPK berpot ensi m elam bat karena ada dana nasabah yang pindah dari de-

posit o ke ORI . Sour ce: I nv est or Daily

I ndust ri farm asi m ulai m enaikkan harga j ual produk unt uk m engkom pensasi pelem ahan nilai t ukar r upiah t erhadap

dolar Am erika Serikat ( AS) yang t elah m enem bus Rp 15 ribu. Kenaikan harga t erpaksa dilakukan karena 90% lebih

bahan bak u farm asi m asih diim por. Source: I nvest or Daily

Berdasarkan dat a Ot orit as Jasa Keuangan ( OJK) , kr edit pem ilikan apart em en ( KPA) per Juli 2018 naik 26,7% di-

bandingkan dengan periode yang sam a t ahun sebelum nya m enj adi Rp17,2 t riliun. Hal t ersebut cuk up k ont ras apa-

bila dibandingkan dengan kondisi 2 t ahun sebelum nya, karena kinerj a pert um buhan t ahunan KPA sem pat negat if.

Source: Bisnis I ndonesia

Bank Mandiri ( BMRI ) m enduk ung pem bangunan infrast rukt ur di Tanah Air dengan m engucurkan pem biayaan Rp

165,8 t riliun hingga Juni lalu. Sedangkan I ndonesia m em erlukan invest asi sekit ar US$ 1.231 m iliar unt uk proyek in-

frast rukt ur hingga 2030 guna m endukung pert um buhan ekonom i nasional. Sour ce: I nvest or Daily

Bank Cent ral Asia ( BBCA) m enarget kan akhir t ahun ini sudah m engak uisisi sat u bank kecil dari rencana awal seban-

yak dua bank. Proses unt uk akuisisi m asih berj alan karena perseroan m encari bank dengan harga yang sesuai ang-

garan. Unt uk rencana aksi korporasi ini set idaknya BCA sudah m enyiapkan anggaran belanj a sebesar Rp 4 t riliun,

nam un t idak disebut kan nam a bank yang akan diakuisisi BCA. Source: I nvest or Daily

Bank Pem bangunan Daerah Bant en ( BEKS) m enarget kan m endapat kan dana segar sebesar Rp2,9 t riliun guna m en-

ingkat kan perm odalan dan m enyehat kan neraca keuangan dari kenaikan kredit berm asalah. Source: Bisnis I ndone-

sia

I ndah Kiat Pulp and Paper ( I NKP) m endapat t am bahan m odal dari Grup Sinar Mas m elalui anak usahany a, PT Sinar

Mas Specialt y Mineral, m eningkat kan m odal dasar senilai t ot al Rp 119,03 m iliar, PT Sinar Mas Specialt y Mineral t er-

cat at 50% saham nya dim iliki oleh Grup Sinar Mas. Source: I nvest or Daily

  D a ily Cor por a t e a n d I n du st r y N e w s

Propert indo Mulia I nvest am a ( MPRO) berniat m engem bangkan t iga proyek propert i baru dengan t ot al luas lahan

295,6 hekt are ( Ha) . Proyek t ersebut t erbagi unt uk rencana kerj a 2019 dan persiapan proyek j angka m enengah.

Source: I nvest or Daily

Waskit a Bet on Precast ( WSBP) m enarget kan bisa m em peroleh kont rak baru sebesar Rp 10 t riliun di t ahun 2019.

  WSBP berharap kont ribusi kont rak swast a m eningkat m enj adi 40% - 50% . Source: Kont an

HK Met als ( HKMU) m enar get kan kont ribusi penj ualan ekspor akan m eningkat 40% di t ahun ini, dari posisi saat ini

20% . Saat ini, HKMU m engekspor produk alum inium ext rusion dan solar panel ke Belanda dan beberapa produk

yang diekspor ke pasar AS diant aranya adalah pint u, j endela dan gorden. Volum e ekspor HK Met als ke Belanda dan

AS m encapai 100 t on–120 t on per bulan. Source: Kont an

Garuda Maint enance Facilit y ( GMFI ) dikabarkan akan m elakukan kerj asam a st rat egis dengan dengan perusahaan

perawat an pesawat asal Perancis, yak ni Air France I ndust ries KLM Engineering & Maint enance ( AFI KLM E&M) den-

gan nilai kerj asam a sekit ar US$ 400 j ut a. Source: Kont an

Jasa Marga ( Persero) ( JSMR) m elalui Jasam arga Pandaan Tol akan m enerbit kan inst rum en invest asi berupa Dana

I nvest asi I nfrast rukt ur ( Dinfra) dengan t ot al nilai Rp1,5 t riliun, efekt if pada 8 Okt ober 2018. Source: Bisnis I ndone-

sia

PP Propert i ( PPRO) m engant ongi nilai pem asaran at au m arket ing sales senilai Rp3,52 t riliun sepanj ang Januari -

Sept em ber 2018. Nilai t ersebut set ara dengan 93% dari t arget pra- penj ualan yang dipat ok pada t ahun ini sebesar

Rp3,8 t riliun. Source: Bisnis I ndonesia

Adira Dinam ika Mult i Finance ( ADMF) m ulai m enyiapkan dana unt uk m elunasi obligasi senilai Rp490 m iliar yang

bakal j at uh t em po dalam wakt u dekat . Arus kas int ernal yang berasal dari pem bayaran cicilan konsum en akan

digunakan unt uk m elunasi obligasi perusahaan t ersebut . Source: Bisnis I ndonesia

  W or ld Equ it y I n dice s Source: Bloomberg, Sinarmas Investment Research

  27 N EY Index 376.09 323.31 (5.46) (1.53)

  1.46 1.40 6,885.66

  53.79

  26 N KY Index 24,448.07 20,347.49 704.45

  3.09

  19.40

  16.53

  1.90 1.96 398,021.28 3,519.82

  16.05

  8.99

  12.62

  1.38 1.34 446,970.82 3,952.70

  28 T P X Index 1,911.31 1,645.16 (56.44) (3.11)

  16.34

  13.68

  1.41 1.46 661,405.89 5,849.01

  29 F B M KLC I Index 1,896.03 1,657.78 (22.66) (1.26)

  8.00

  25 KSE100 Index 47,144.12 37,736.73 (1,966.64) (4.86)

  17.06

  23.85

  1.05 1.08 10,913.28 1,393.12

  21 SEN SEX Index 38,989.65 31,769.40 242.64

  0.71

  24.56

  18.31

  3.12 2.85 61,906.05 835.16

  22 N IF T Y Index 11,760.20 9,951.90 (229.65) (2.18)

  17.67

  3.39 3.39 4,154,082.05 272.67

  3.12 2.84 75,677.44 1,020.94

  23 J C I Index 6,693.47 5,557.56 (558.86) (8.79)

  24.62

  15.07

  2.58 2.58 6,557,373.44 430.42

  24 LQ 45 Index 1,132.92 871.91 (167.57) (15.52)

  21.16

  15.67

  16.68

  1.67 1.64 1,104.86 266.14

  9.18

  15.44

  1.75 1.71 31,045.60 1,001.83

  35 SET Index 1,852.51 1,584.68 (56.79) (3.24)

  18.90

  15.72

  2.08 2.10 17,113.75 518.22

  36 SET 50 Index 1,223.67 1,043.32 (18.66) (1.64)

  17.52

  2.26 2.28 11,734.83 355.34

  15.55

  37 VN IN D EX Index 1,211.34 806.30

  11.95

  1.21

  19.00

  17.22

  2.81 2.85 3,197,150.21 136.93

  A s i a / P a c i f i c A m e r i c a 5 2 - W E E K C H A N G E Y T D P E R ( x) P B V ( x) M A R K E T C A P ( B n ) E u r o p e

H I G H L O W P O I N T % 2 0 17 2 0 18 E 2 0 17 2 0 18 E

D o m a i n

  13.48

  34 T WSE Index 11,270.18 10,189.04 (176.03) (1.65)

  30 N Z SE Index 1,652.90 1,433.28

  22.98

  76.26

  5.05

  19.27

  21.09

  2.03 1.99 130.40

  84.18

  31 P C O M P Index 9,078.37 6,923.67 (1,499.04) (17.52)

  16.42

  1.05 1.04 1,457,989.89 1,285.57

  2.51 2.41 8,882.74 163.95

  32 F SST I Index 3,641.65 3,102.73 (236.32) (6.94)

  11.07

  12.85

  1.22 1.24 550.07 397.56

  33 KO SP I Index 2,607.10 2,218.09 (213.66) (8.66)

  12.69

  9.08

  7.88

  20 H SC EI Index 13,962.53 10,196.71 (1,288.68) (11.01)

  W O R L D E Q U I T Y I N D I C E S N O T I C K E R

  23.22

  16.54

  2.65 2.63 5,815.24 305.18

  6 SX5E Index 3,708.82 3,261.86 (182.17) (5.20)

  18.41

  13.72

  1.67 1.72 2,868.99 3,293.60

  7 UKX Index 7,903.50 6,866.94 (450.18) (5.86)

  12.98

  5 M EXB O L Index 51,121.23 44,429.36 (849.20) (1.72)

  1.97 1.96 2,018.85 2,650.96

  8 C A C Index 5,657.44 5,038.12

  5.99

  0.11

  18.43

  14.16

  1.67 1.66 1,583.03 1,817.31

  19.72

  1.91 1.89 2,438.65 1,881.68

  19.19

  22.51

  1 IN D U Index 26,951.81 22,770.99 1,711.35

  6.92

  20.64

  16.69

  3.88 3.91 7,374.49 7,374.49

  2 SP X Index 2,940.91 2,532.69 206.73

  7.73

  17.68

  15.38

  3.30 3.28 25,238.66 25,238.66

  3 C C M P Index 8,133.30 6,517.93 834.63

  12.09

  40.69

  22.67

  3.80 3.69 12,096.77 12,096.77

  4 SP T SX Index 16,586.46 14,785.78 (355.08) (2.19)

  19.81

  9 D A X Index 13,596.89 11,726.62 (940.42) (7.28)

  12.96

  1.39 1.39 17,061.99 2,178.02

  16.86

  15.27

  2.00 1.93 1,959.81 1,388.92

  16 SH SZ 300 Index 4,403.34 3,191.40 (742.17) (18.41)

  16.47

  11.24

  2.05 2.09 26,245.96 3,791.23

  17 SH A SH R Index 3,757.20 2,769.10 (613.95) (17.73)

  11.04

  15 A S30 Index 6,481.30 5,788.80 (11.83) (0.19)

  1.80 1.84 28,978.02 4,185.88

  18 SZ A SH R Index 2,140.56 1,438.39 (538.39) (27.10)

  29.07

  15.95

  3.12 3.10 17,719.33 2,559.56

  19 H SI Index 33,484.08 26,067.51 (3,746.24) (12.52)

  13.71

  10.85

  18.90

  2.08 2.02 1,805.43 1,279.51

  1.86 1.91 1,109.36 1,273.55

  12 A EX Index 576.90 515.96 (7.63) (1.40)

  10 IB EX Index 10,643.40 9,111.10 (783.40) (7.80)

  14.97

  12.10

  1.47 1.46 577.99 663.53

  11 F T SEM IB Index 24,544.26 19,679.39 (1,791.09) (8.20) 581.58

  11.01

  1.18 1.05 478.37 549.17

  18.84

  15.19

  14.34

  1.91 1.87 658.59 756.06

  13 SM I Index 9,616.38 8,372.90 (417.76) (4.45)

  24.52

  15.70

  2.59 2.56 1,085.72 1,094.15

  14 A S51 Index 6,373.50 5,720.40 (24.06) (0.40)

  17.95

  C u r r e n c y U S D

  LQ4 5 Source: Bloomberg, Sinarmas Investment Research

  

8 B B R I I J 3 , 0 2 0 3 , 9 2 0 2 , 7 2 0 (6 2 0 ) (1 7 . 0 3 ) 1 5 . 3 4 1 1 . 4 6 2 . 6 7 2 . 0 0 3 7 2 , 5 0 4 . 3 5

  I N T P I J 1 6 , 7 5 0 2 3 , 9 5 0 1 2 , 5 0 0 (5 , 2 0 0 ) (2 3 . 6 9 ) 4 3 . 4 5 4 8 . 7 3 3 . 2 9 2 . 7 4 6 1 , 6 6 0 . 6 3

2 4 J S M R I J 4 , 3 6 0 6 , 7 7 5 3 , 9 2 0 (2 , 0 4 0 ) (3 1 . 8 8 ) 2 1 . 1 1 1 6 . 0 5 3 . 0 8 1 . 8 9 3 1 , 6 4 4 . 3 2

2 5 K L B F I J 1 , 2 5 0 1 , 7 8 5 1 , 1 5 5 (4 4 0 ) (2 6 . 0 4 ) 3 2 . 9 6 2 3 . 7 2 5 . 9 6 4 . 0 2 5 8 , 5 9 3 . 9 0

2 6 L P K R I J 3 0 4 7 4 5 3 0 2 (1 8 4 ) (3 7 . 7 0 ) 1 8 . 0 9 8 . 8 5 0 . 4 9 0 . 3 3 7 , 0 1 8 . 5 0

2 7 L P P F I J 6 , 5 2 5 1 1 , 9 7 5 5 , 5 2 5 (3 , 4 7 5 ) (3 4 . 7 5 ) 1 5 . 2 9 9 . 5 9 1 2 . 5 3 5 . 1 7 1 9 , 0 3 9 . 4 2

2 8 M N C N I J 7 7 0 1 , 6 9 0 7 6 0 (5 1 5 ) (4 0 . 0 8 ) 1 1 . 7 8 7 . 1 6 1 . 8 6 1 . 0 6 1 0 , 9 9 2 . 6 0

2 9 M Y R X I J 1 2 5 1 9 8 1 0 1 1 5 1 3 . 6 4 - - - - 1 0 , 8 3 7 . 9 0

3 0 P G A S I J 2 , 1 2 0 2 , 8 6 0 1 , 3 8 5 3 7 0 2 1 . 1 4 2 0 . 7 7 1 3 . 9 2 0 . 9 9 1 . 0 7 5 1 , 3 9 2 . 0 0

3 1 P T B A I J 4 , 5 0 0 4 , 9 4 0 2 , 0 9 0 2 , 0 4 0 8 2 . 9 3 5 . 7 9 9 . 7 5 1 . 9 1 3 . 0 4 5 1 , 8 4 2 . 9 7

3 2 P T P P I J 1 , 5 4 5 3 , 2 8 0 1 , 4 6 5 (1 , 0 9 5 ) (4 1 . 4 8 ) 1 1 . 2 6 5 . 5 5 1 . 4 3 0 . 7 4 9 , 5 7 8 . 8 4

3 3 P W O N I J 4 6 4 7 2 5 4 6 2 (2 2 1 ) (3 2 . 2 6 ) 1 7 . 6 2 1 0 . 2 3 3 . 2 0 1 . 8 4 2 2 , 3 4 6 . 0 6

3 4 S C M A I J 1 , 7 4 0 2 , 9 8 0 1 , 6 4 5 (7 4 0 ) (2 9 . 8 4 ) 2 7 . 2 4 1 5 . 4 6 9 . 3 0 4 . 9 8 2 5 , 4 4 1 . 5 9

3 5 S M G R I J 9 , 3 0 0 1 1 , 7 7 5 6 , 5 0 0 (6 0 0 ) (6 . 0 6 ) 2 9 . 1 4 2 7 . 5 7 2 . 0 3 1 . 8 3 5 5 , 1 6 3 . 1 4

3 6 S R I L I J 3 4 0 4 1 4 3 0 2 (4 0 ) (1 0 . 5 3 ) 7 . 2 6 - 1 . 1 8 - 6 , 9 5 3 . 7 4

3 7 S S M S I J 1 , 2 8 0 1 , 5 4 5 1 , 0 0 5 (2 2 0 ) (1 4 . 6 7 ) 1 7 . 9 2 1 4 . 3 0 3 . 5 4 2 . 6 8 1 2 , 1 9 2 . 0 0

3 8 T L K M I J 3 , 5 9 0 4 , 6 0 7 3 , 2 5 0 (8 0 9 ) (1 8 . 3 9 ) 1 9 . 6 8 1 6 . 8 3 4 . 7 0 3 . 5 3 3 5 5 , 6 3 3 . 3 6

3 9 T P I A I J 4 , 5 7 0 6 , 6 7 5 4 , 4 2 0 (1 , 4 3 0 ) (2 3 . 8 3 ) 2 3 . 8 1 2 7 . 2 7 4 . 7 4 3 . 0 3 8 1 , 4 9 9 . 1 9

4 0 T R A M I J 2 2 4 4 3 2 1 2 6 2 6 1 3 . 1 3 - - - - 1 1 , 1 1 7 . 9 5

4 1 U N T R I J 3 2 , 0 0 0 4 0 , 5 0 0 3 0 , 7 7 5 (3 , 4 0 0 ) (9 . 6 0 ) 1 7 . 8 4 1 1 . 6 3 2 . 9 1 2 . 2 9 1 1 9 , 3 6 4 . 3 2

4 2 U N V R I J 4 4 , 4 0 0 5 8 , 1 0 0 4 0 , 4 0 0 (1 1 , 5 0 0 ) (2 0 . 5 7 ) 6 0 . 8 9 4 4 . 2 6 8 2 . 4 4 5 5 . 9 2 3 3 8 , 7 7 2 . 0 0

4 3 W I K A I J 1 , 3 0 0 2 , 1 9 0 1 , 2 1 0 (2 5 0 ) (1 6 . 1 3 ) 1 1 . 5 5 7 . 8 5 1 . 1 0 0 . 8 2 1 1 , 6 6 0 . 9 4

4 4 W S B P I J 3 4 8 5 1 0 3 3 6 (6 0 ) (1 4 . 7 1 ) 1 0 . 5 6 7 . 5 5 1 . 4 7 1 . 0 1 9 , 1 7 3 . 6 8

4 5 W S K T I J

  I N D Y I J 2 , 7 2 0 4 , 6 3 0 1 , 9 0 0 (3 4 0 ) (1 1 . 1 1 ) 3 . 5 0 4 . 7 0 1 . 2 7 0 . 9 4 1 4 , 1 7 1 . 7 2 2 3

  I N D F I J 5 , 6 0 0 8 , 5 0 0 5 , 5 5 0 (2 , 0 2 5 ) (2 6 . 5 6 ) 1 6 . 1 8 1 1 . 1 7 2 . 1 5 1 . 4 4 4 9 , 1 7 0 . 3 9 2 2

  I N C O I J 3 , 4 0 0 4 , 7 2 0 2 , 5 7 0 5 1 0 1 7 . 6 5 - 2 7 . 9 0 1 . 1 6 1 . 1 6 3 3 , 7 8 3 . 5 5 2 1

  I C B P I J 8 , 8 7 5 9 , 2 7 5 7 , 9 0 0 (2 5 ) (0 . 2 8 ) 2 7 . 3 1 2 4 . 6 3 5 . 3 1 4 . 7 7 1 0 3 , 4 9 9 . 4 3 2 0

  

9 B B T N I J 2 , 4 1 0 3 , 8 9 0 2 , 1 1 0 (1 , 1 6 0 ) (3 2 . 4 9 ) 1 2 . 4 9 7 . 5 2 1 . 7 5 1 . 0 3 2 5 , 5 2 1 . 9 0

1 0 B J B R I J 1 , 9 9 0 2 , 7 3 0 1 , 7 9 5 (4 1 0 ) (1 7 . 0 8 ) 1 9 . 2 0 1 2 . 7 4 2 . 3 1 1 . 8 5 1 9 , 2 9 5 . 6 2

1 1 B M R I I J 6 , 3 5 0 9 , 0 5 0 6 , 1 7 5 (1 , 6 5 0 ) (2 0 . 6 3 ) 2 0 . 9 3 1 1 . 6 6 2 . 2 4 1 . 6 3 2 9 6 , 3 3 3 . 3 3

1 2 B M T R I J 3 7 8 7 5 5 3 7 0 (2 1 2 ) (3 5 . 9 3 ) - - 0 . 8 8 - 5 , 3 6 7 . 0 8

1 3 B R P T I J 1 , 7 2 0 2 , 7 2 0 1 , 5 1 0 (5 4 0 ) (2 3 . 8 9 ) 3 0 . 0 0 1 8 . 8 2 2 . 1 6 1 . 1 2 3 0 , 6 0 1 . 5 3

1 4 B S D E I J 1 , 0 0 0 1 , 9 6 5 9 9 5 (7 0 0 ) (4 1 . 1 8 ) 6 . 6 1 7 . 2 7 1 . 2 9 0 . 6 9 1 9 , 2 4 6 . 7 0

1 5 B U M I I J 2 0 0 3 5 6 1 8 8 (7 0 ) (2 5 . 9 3 ) 2 . 5 7 2 . 1 9 - - 1 3 , 0 9 5 . 0 8

1 6 E X C L I J 2 , 8 8 0 1 , 7 1 0 (8 0 ) (2 . 7 0 ) 8 5 . 1 6 7 8 . 3 7 1 . 4 6 1 . 3 9 3 0 , 7 8 1 . 3 3

1 7 G G R M I J 7 4 , 0 0 0 8 6 , 4 0 0 6 1 , 9 2 5 (9 , 8 0 0 ) (1 1 . 6 9 ) 2 0 . 8 0 1 6 . 8 8 3 . 8 2 3 . 0 9 1 4 2 , 3 8 2 . 5 1

1 8 H M S P I J 3 , 8 5 0 5 , 5 5 0 3 , 2 3 0 (8 8 0 ) (1 8 . 6 0 ) 4 3 . 5 4 3 4 . 0 2 1 6 . 1 3 1 2 . 7 3 4 4 7 , 8 2 4 . 6 0

1 9

  

7 B B N I I J 6 , 8 2 5 1 0 , 1 7 5 6 , 7 5 0 (3 , 0 7 5 ) (3 1 . 0 6 ) 1 3 . 5 6 8 . 2 9 1 . 8 7 1 . 1 8 1 2 7 , 2 7 7 . 0 8

  L Q 4 5 I n d e x H I G H L O W P O I N T % 2 0 1 7 2 0 1 8 E 2 0 1 7 2 0 1 8 E

  

6 B B C A I J 2 3 , 7 5 0 2 5 , 4 7 5 2 0 , 0 5 0 1 , 8 5 0 8 . 4 5 2 3 . 1 7 2 2 . 7 0 4 . 1 1 3 . 9 0 5 8 5 , 5 5 6 . 4 7

  

5 A S I I I J 7 , 0 2 5 8 , 7 5 0 6 , 1 0 0 (1 , 2 7 5 ) (1 5 . 3 6 ) 1 7 . 8 3 1 3 . 4 4 2 . 7 2 2 . 1 1 2 8 4 , 3 9 6 . 9 6

  

4 A N T M I J 8 1 0 1 , 0 1 5 6 0 0 1 8 5 2 9 . 6 0 - 2 6 . 2 3 0 . 8 1 1 . 0 4 1 9 , 4 6 4 . 9 2

  

3 A K R A I J 3 , 8 2 0 8 , 0 2 5 3 , 2 2 0 (2 , 5 3 0 ) (3 9 . 8 4 ) 2 8 . 1 1 1 4 . 2 3 3 . 3 7 1 . 8 1 1 5 , 3 3 6 . 1 3

  

2 A D R O I J 1 , 7 3 0 2 , 6 5 0 1 , 5 7 5 (1 3 0 ) (6 . 9 9 ) 9 . 0 6 7 . 5 7 1 . 2 6 0 . 9 8 5 5 , 3 3 5 . 7 1

  

1 A D H I I J 1 , 3 0 0 2 , 5 1 0 1 , 3 0 0 (5 8 5 ) (3 1 . 0 3 ) 1 3 . 0 2 5 . 8 2 1 . 1 5 0 . 6 9 4 , 6 2 9 . 1 0

  1 , 6 4 0 3 , 1 5 0 1 , 6 3 0 (5 7 0 ) (2 5 . 7 9 ) 7 . 3 8 4 . 7 9 2 . 1 4 1 . 2 5 2 2 , 2 6 1 . 2 0 M A R K E T C A P (B n ) L Q 4 5 I n d e x C H A N G E Y T D P E R (x ) P B V (x ) 9 -O c t -1 8 5 2 -W E E K

  M a cr o da t a 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 0.68 (2.90) (4.09) (17.50) B asic Industry 1.58 (1.70) (3.11)

  10.71 Trade 0.30 (1.34) (1.86) (12.82) Finance 1.09 (1.17) (0.98) (8.09) M iscellaneo us Industry 2.12 (1.62) (0.27) (12.15) Co nsumer 0.02 (0.89) (0.08) (15.02) Infrastructure 0.44 (1.32) 2.63 (13.79) A griculture 0.07 (0.10) (3.33) (4.33) M ining (1.18) (1.80)

  3.68

  21.56 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 - 15,214.00 (2.35) (10.90) USD/CNY

  6.92 0.12 (0.97) (6.01) USD/EUR 0.87 (0.17)

  0.72

  4.29 USD/JP Y 113.00 (0.04) (1.65) (0.27) USD/SGD

  1.38 0.20 (0.09) (3.20) USD/A UD 1.40 (0.28) (0.14)

  9.59 USD/GB P 0.76 (0.09) (0.99)

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

  7.58 LIB OR (in GB P )

  1.09 SIB OR ( in USD)

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

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

8.63 Source: Bloomberg, Sinarmas Investment Research

  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 GDP Gr owth ( % , YoY) 5,0% 5,2% 5,4% Ex change r ate ( USD/ I DR) 13307 13300 13500 I nflation ( % , YoY)

  3% 4,3% 3,5%

  3 Months SPN ( % ) 5,7% 5,2% 5,3% I ndonesian Cr 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 DR 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

  Pick s of Th e D a y _{ACES - Daily 10/9/2018 4:08:00 PM Open 1320, Hi 1375, Lo 1320, Clos e 1370 (3.4%) MA(Clos e,50) = 1,369.40 1,450 1,500 1,550 1290 1310 1320 1335 1355 1,350 1380 1,370 1395 1405 1,400} 1430 _{1275 1,369.4 1,300 1,100 1,150 1,200} 1,250 _{ACES - Stoch %K(15,3) = 17.61, Stoch %D(15,3,3) = 18.73 ACES - MACD(12,26) = 0.89, Signal(12,26,9) = 12.66 Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct} Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct _{0.887977 12.6572 20 40 80 -20 ACES - RSI(15) = 48.90 17.6101} 18.7349 ₂₀ ACES : TRAD I N G BUY ACES ber hasil br eak Resist ance 1.355, ACES berpeluang m elanj ut k an penguat an dengan m enguj i Resist ance 1.380, 1.395 dan

1.405. Nam un, j ika ACES gagal break Resist ance 1.395, m aka ACES akan m encoba Support 1.370, 1.355 dan 1.335. ACES dilihat

dar i indikator Macd dan St oc osc m engindikasikan pola Rever sal.

  Ent r y point : 1.360 — 1.370 Ex it point : 1.395 ( 2.6% ) , 1.405 ( 3.3% ) _{ELSA - Daily 10/9/2018 4:14:00 PM Open 376, Hi 386, Lo 372, Clos e 384 (3.2%) MA(Clos e,50) = 363.84} St op Loss : 1.335 ( - 1.8% ) _{540 480 500 520 372 368 363.84 384 380 378 394 408 400 426 384 400 420 440} 460 _{ELSA - MACD(12,26) = 7.45, Signal(12,26,9) = 5.51 Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct} 364 _{320 360 280 300 340 ELSA - Stoch %K(15,3) = 54.90, Stoch %D(15,3,3) = 58.73 Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 54.902 5.51143 7.44839 58.7327}

  20 _{80 20 -20} ELSA - RSI(15) = 58.24 ELSA : TRAD I N G BUY ELSA ber hasil br eak Resist ance 384, ELSA ber peluang m elanj ut k an penguat an dengan m enguj i Resist ance 394, 400 dan 408.

  Nam un, j ik a ELSA gagal break Resist ance 394, m ak a ELSA ak an m encoba Suppor t 384, 378 dan 372. ELSA dilihat I ndik at or MACD dan St oc osc m engindik asik an pola Rev er sal. Ent r y point : 384 — 386 Ex it point : 394 ( 2.6% ) , 408 ( 6.3% ) St op Loss : 372 ( - 3.1% )

  _{JSMR - Daily 10/9/2018 4:14:00 PM Open 4290, Hi 4360, Lo 4280, Clos e 4360 (2.1%) MA(Clos e,50) = 4,565.20} Pick s of Th e D a y _{6,000 6,200 6,400 6,600 6,800 4,800 5,000 5,200 5,400 5,600} 5,800 _{JSMR - MACD(12,26) = -54.13, Signal(12,26,9) = -56.33 Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 4240 4610 4160 4300 4400 4460 4540} 4,565.2 4,600 _{4,360 3,800 4,000 4,200 4,400 100 200 JSMR - Stoch %K(15,3) = 29.46, Stoch %D(15,3,3) = 26.37 JSMR - RSI(15) = 45.45 Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 26.369 29.4636} -54.1327 _{-56.3328 -100 -200 20 80} JSM R : BUY ON W EAKN ESS JSM R belum ber hasil br eak Resist ance 4.400 . JSM R ber peluang m enguj i Suppor t 4.300, 4.240 dan 4.160. Nam un, j ik a JSM R

ber hasil br eak Resist ance 4.400, m ak a JSM R ak an m encoba Resist ance 4.460, 4.540 dan 4.610. JSM R dilihat I ndik at or St oc osc

m engindik asik an pola Rev er sal.

  Ent r y point : 4.300 — 4.360 Ex it point : 4.460 ( 3.7% ) , 4.540 ( 5.6% ) _{ICBP - Daily 10/9/2018 4:00:00 PM Open 8850, Hi 8900, Lo 8750, Clos e 8875 (0.6%) MA(Clos e,50) = 8,778.00} St op Loss : 4.240 ( - 1.4% ) _{9075 9150 9275 9,100 9,200 9,300 8600 8650 8925 9000 8800 8,778 8850 8975 8525 8700 8,875 8,600 8,700 8,800 8,900} 9,000 _{8425 8,100 8,200 8,300 8,400} 8,500 _{8,000 ICBP - MACD(12,26) = 21.70, Signal(12,26,9) = 21.34 ICBP - Stoch %K(15,3) = 62.22, Stoch %D(15,3,3) = 59.26 Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 Feb Mar Apr May Jun Jul Aug Sep Oct 21.3442 21.7018 62.2222} 7,900 _{100 -100 80 ICBP - RSI(15) = 52.89} 59.2593 ₂₀ I CBP : BUY ON W EAKN ESS

  I CBP belum ber hasil br eak Resist ance 8.925. I CBP ber peluang m enguj i Suppor t 8.800, 8.700 dan 8.600. Nam un, j ik a I CBP

ber hasil br eak Resist ance 8.925, m ak a I CBP ak an m encoba Resist ance 9.000, 9.075 dan 9.150. I CBP dilihat I ndik at or MACD dan

St oc osc m engindik asik an pola Rev er sal.

  Ent r y point : 8.800 — 8.875 Ex it point : 9.000 ( 2.3% ) , 9.075 ( 3.1% ) St op Loss : 8.700 ( - 1.1% )

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