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).

Rabu, 12 November 2014

Morning Dew - 13 November 2014

BI to Maintain Rates

JCI stayed above 5k as the index aims at recouping the lost ground near 5,100, the upper-end of its broad consolidation range between 4,900 and 5,100.

Bank Indonesia (BI) is set to meet on Thursday for regular meeting and it is seen to leave rates unchanged at 7.5%.

Overseas, the European and US stock indexes bumped into resistance and stepped back overnight, signaling that Asian stock indexes (including JCI) are set for temporary setback.

BUVA plans to conduct private placement to issue 309,603,100 new shares. The exercise price will be Rp582 per share, bringing the total proceeds to Rp182.19bn. About 91% of the proceeds is to be used for its subsidiary, about 6% for land purchase and the rest for working capital.

USDIDR gained more on Wednesday, ended the day at 12,205 from 12,163 seen on Tuesday.

The Shine

PT Archi Indonesia Tbk. is offering its shares between Rp1,895 and Rp2,445 per share. The gold miner aims at issuing 1,600,000,000 shares or 40.41% of its equity.

The proceeds from the IPO is expected around Rp3tn to Rp3.9tn. About US$216.2 million will be used to repay debt while US$35.9 million will be used to acquire 99.98% of PT Smart Mining Resources’ shares. The remaining proceeds will be used for working capital.

PT CIMB Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas and PT Valbury Asia Securities are the joint underwriters for this IPO.

Technically Speaking...

JCI continued to climb on Wednesday as it struggles to secure its footing above the 5k mark.

However, should the index fails to follow through the gains with a clean break of 5,100 resistance level, it will risk returning to the bottom end of the current consolidation range between 4,900 and 5,100.

Beyond 5,100, the next interim resistance will be 5,150, followed by  5,200 and another one at 5,251, ahead of the all-time record high at 5,262. 

The MACD ticked up but still below zero after recent decline, RSI curled up a bit 
after being taken back to the neutral area.

For Thursday, expect the trading range between 4,900 and 5,100 to continue to be the JCI’s playground.

Day Ahead

We still expect the JCI to remain confined within the recent range of 4,900-5.100. Fuel price hike is considered as a potential drag for the index as it will be seen as short-term negative despite its longer-run benefits. Wednesday’s rally will need more convincing push to the upside or risk slipping back below 5k. Technical outlook improved a bit, but remains cloudy.

Diposting oleh di 14.11
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