06 Dec 24
Market Review and Prediction
Wall Street's three main indexes corrected after several days of gains, reaching new record highs. The market is also awaiting the release of the nonfarm payroll data later this evening. This labor market data is expected to provide indications on the Fed’s interest rate policy for this month, particularly whether they will lower rates further. Meanwhile, crude oil prices have remained stable after OPEC+, as anticipated, decided to maintain its production cut of 2.2 million barrels per day until the end of March 2025. This cut had originally been planned to begin tapering off in December. Gold prices weakened due to rising US government bond yields and anticipation of the nonfarm payroll data.
The JCI closed 0.18% lower at 7,313 on Thursday, December 5, 2024. Financial sector stocks saw the largest correction, while the consumer sector posted the biggest gains. Foreign investors recorded a net sell of IDR 304.7 billion, including transactions in the non-regular market. Today, the JCI is expected to move within the support range of 7,270/7,220 and resistance at 7,350/7,380. Stock picks: BBCA, BBTN, BRIS, ASII, TPIA, BRPT, INDF, ICBP, ANTM.
NEWS:
• BELI will hold the MESOP I Phase III, MESOP II Phase III, and MESOP III Phase I programs, offering a total of 3.32 billion shares at a price of IDR 430 per share.
• Pefindo has affirmed the idA rating for SGRO with a stable outlook.
• DSSA reported a 34% YoY decline in net profit to USD 243.85 million as of September 2024.
• BUMI has revised its coal production target down to 76-78 million tons from the initial target of 78-82 million tons for this year.
• GDST will distribute an interim dividend of IDR 7.5 per share, with the cum date on December 13, 2024.
• The second MASA’s Extraordinary General Meeting to approve the company’s privatization did not meet quorum requirements.
Disclaimer:
Wall Street's three main indexes corrected after several days of gains, reaching new record highs. The market is also awaiting the release of the nonfarm payroll data later this evening. This labor market data is expected to provide indications on the Fed’s interest rate policy for this month, particularly whether they will lower rates further. Meanwhile, crude oil prices have remained stable after OPEC+, as anticipated, decided to maintain its production cut of 2.2 million barrels per day until the end of March 2025. This cut had originally been planned to begin tapering off in December. Gold prices weakened due to rising US government bond yields and anticipation of the nonfarm payroll data.
The JCI closed 0.18% lower at 7,313 on Thursday, December 5, 2024. Financial sector stocks saw the largest correction, while the consumer sector posted the biggest gains. Foreign investors recorded a net sell of IDR 304.7 billion, including transactions in the non-regular market. Today, the JCI is expected to move within the support range of 7,270/7,220 and resistance at 7,350/7,380. Stock picks: BBCA, BBTN, BRIS, ASII, TPIA, BRPT, INDF, ICBP, ANTM.
NEWS:
• BELI will hold the MESOP I Phase III, MESOP II Phase III, and MESOP III Phase I programs, offering a total of 3.32 billion shares at a price of IDR 430 per share.
• Pefindo has affirmed the idA rating for SGRO with a stable outlook.
• DSSA reported a 34% YoY decline in net profit to USD 243.85 million as of September 2024.
• BUMI has revised its coal production target down to 76-78 million tons from the initial target of 78-82 million tons for this year.
• GDST will distribute an interim dividend of IDR 7.5 per share, with the cum date on December 13, 2024.
• The second MASA’s Extraordinary General Meeting to approve the company’s privatization did not meet quorum requirements.
Disclaimer:
This report is prepared strictly for private circulation only to clients of PT Waterfront Sekuritas Indonesia. It is purposed 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 PT Waterfront Sekuritas Indonesia 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 in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof. We expressly disclaim any responsibility or liability (express or implied), its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT Waterfront Sekuritas Indonesia, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. This document is not an offer to sell or a solicitation to buy any securities. This firms and its affiliates and their officers and employees may have a position, make markets, act as principal or engage in transaction in securities or related investments of any company mentioned herein, may perform services for or solicit business from any company mentioned herein, and may have acted upon or used any of the recommendations herein before they have been provided to you. © PT Waterfront Sekuritas Indonesia 2024
Published on 2024-12-06 07:16:23 (GMT +7)
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