DISCLAIMER

This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Minggu, 24 Agustus 2014

Morning Dew - 25 August 2014

Taking A Breather

JCI took a breather on Friday as the advance stalled around 5.2k following the final verdict from Constitutional Court which put an end to the election dispute.

As noted some time ago, the next after the Court’s verdict will be the forming of the new cabinet. Who will be appointed as ministers will be the first test for Jokowi-JK’s commitment over a professional, rather than transactional cabinet composition.

Elsewhere, despite recent comment from Janet Yellen that slack remains in the labor market even after recent improvements and economic recovery, the recent 
Federal Reserve Minutes of their last FOMC meeting showed that the central bank has raised the odds that stimulus will end sooner than anticipated.

USDIDR was down at 11,654 on Friday compared to Thursday’s settlement at 11,717.

BUMI, MAGP

BUMI’s bondholders have agreed the key terms for proposed restructuring  of $375 million convertible bonds due in August. According to the director Dileep Srivastava, more than 98% of the bondholders are in favor of the terms.

MAGP reported a net sales worth Rp72,298.10 million in 1H14 vs Rp19,262.28 million (1H13), but its net profit showed a loss of Rp11,362.54 million vs. a profit of Rp3,192.56 million (1H13). EPS fell sharply from Rp0.19 per share to Rp-18.74.

Technically Speaking...

JCI continued seesaw around 5,200, but fell short of closing above it. Still, the index is just within spitting distance to reclaim its all-time high at 5,251. 

As for now, JCI is aiming to secure its ground abot 5,200 and subsequently the focus will turn to the next resistance at 5,251, the all-time record high while near-term supports are seen at 5,150-65 (congestion area) and then 5,135, the recent lower consolidation band, 5,039 and 5,000, followed by 4,950, the former EMA-50 resistance now turned as support. 

MACD continued to tick up into the positive area whilst RSI has started to stall around the overbought area.

ADRO, SMRA and WSKT recos are still awaiting their entry prices to be filled. Please check the details on the table below.

Week Ahead

Beyond the Court is the naming of the ministers, the first test for Jokowi-JK’s commitment to form a strong but non-transactional government. Recent Federal Reserve Minutes should provide support for the market as the central bank has further started to prepare the market for the first rate rise after the Fed’s easy money policy era.

Diposting oleh di 14.43
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