23 Dec 24
Market Review and Prediction
Wall Street's main indexes closed higher in last Friday's trading, driven by inflation data from the Fed’s key indicator that came in lower than expected. The November PCE price index showed an increase of 0.1% MoM and an increase of 2.4% YoY, both below the expected 0.2% MoM and 2.5% YoY. The core PCE price index showed a 0.1% MoM and 2.8% YoY increase, also below the estimates of 0.2% MoM and 2.9% YoY. This data helped ease investor concerns over persistent inflation. Meanwhile, the U.S. House of Representatives, supported by President Trump, approved a three-month funding plan to prevent a government shutdown on Thursday. Without this agreement, a partial U.S. government shutdown was set to begin on Friday night.
The JCI closed higher by 0.09% at 6,983 on Friday, December 20, 2024. The energy sector stocks posted the biggest gains, while the industrial sector stocks experienced the largest corrections. Foreign investors recorded a net sell of IDR 417.99 billion, including in the non-regular market. Today, the JCI is expected to trade within a support range of 6,950/6,930 and a resistance range of 7,050/7,100. Stock picks: BBRI, BBCA, BMRI, BBTN, ADMR, SSIA, BRIS, ISAT, TLKM.
NEWS:
• TOBA's General Meeting of Shareholders approved the plan to acquire 100% of Sembcorp Environment's shares, a waste management company in Singapore.
• TOBA targets to complete the divestment of two 200 MW coal-fired power plants by Q1 2025.
• KEJU will buy back 4.88 million shares (0.33%) with an allocated fund of IDR 7.5 billion and will distribute bonus shares at a ratio of 4:11.
• ACRO will distribute an interim dividend of IDR 10.15 per share, with a cum date of January 6, 2025.
• PGAS's subsidiary has officially joined the gasification project in Papua.
• WSKT secured a new contract for the construction of the South Papua Governor’s Office building, valued at IDR 215 billion.
• As of Q3 2024, ULTJ has utilized IDR 351 billion in capital expenditure, which includes investments in distribution development, a new factory, and efficiency improvements at its main plant.
Disclaimer:
Wall Street's main indexes closed higher in last Friday's trading, driven by inflation data from the Fed’s key indicator that came in lower than expected. The November PCE price index showed an increase of 0.1% MoM and an increase of 2.4% YoY, both below the expected 0.2% MoM and 2.5% YoY. The core PCE price index showed a 0.1% MoM and 2.8% YoY increase, also below the estimates of 0.2% MoM and 2.9% YoY. This data helped ease investor concerns over persistent inflation. Meanwhile, the U.S. House of Representatives, supported by President Trump, approved a three-month funding plan to prevent a government shutdown on Thursday. Without this agreement, a partial U.S. government shutdown was set to begin on Friday night.
The JCI closed higher by 0.09% at 6,983 on Friday, December 20, 2024. The energy sector stocks posted the biggest gains, while the industrial sector stocks experienced the largest corrections. Foreign investors recorded a net sell of IDR 417.99 billion, including in the non-regular market. Today, the JCI is expected to trade within a support range of 6,950/6,930 and a resistance range of 7,050/7,100. Stock picks: BBRI, BBCA, BMRI, BBTN, ADMR, SSIA, BRIS, ISAT, TLKM.
NEWS:
• TOBA's General Meeting of Shareholders approved the plan to acquire 100% of Sembcorp Environment's shares, a waste management company in Singapore.
• TOBA targets to complete the divestment of two 200 MW coal-fired power plants by Q1 2025.
• KEJU will buy back 4.88 million shares (0.33%) with an allocated fund of IDR 7.5 billion and will distribute bonus shares at a ratio of 4:11.
• ACRO will distribute an interim dividend of IDR 10.15 per share, with a cum date of January 6, 2025.
• PGAS's subsidiary has officially joined the gasification project in Papua.
• WSKT secured a new contract for the construction of the South Papua Governor’s Office building, valued at IDR 215 billion.
• As of Q3 2024, ULTJ has utilized IDR 351 billion in capital expenditure, which includes investments in distribution development, a new factory, and efficiency improvements at its main plant.
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 2024-12-23 06:49:31 (GMT +7)
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