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OSODaily 03 September 2019

ODAY TOP STOCK TRADED (LQ45) JAKARTA COMPOSITE INDEX

6,290.55 (37.92)

0.60%

Previous 6,328.47 Lowest

6,281.61 Highest 6,338.11 Val IDR bn

7,804

Volbn 15.27 Mkt Cap IDRtr

7,217.66 Net Forg 1DIDRbn (98.96) Net ForgYTDIDRbn

59,160.17

Return YTD (%) 1.55 Month to date (%)

(0.60)

Indices

Last Chg% YTD% Americas

Dow Jones United States 26,403.28 0.16 13.19 S&P 500 United States 2,926.46 0.06 16.74 Nasdaq United States 7,962.88 (0.13) 20.01 EIDO United States 25.19 0.72 1.49 EMEA

FTSE 100 United Kingdom 7,281.94 1.04 8.23

CAC 40 France 5,493.04 0.23 16.11 D DAX Germany 11,953.78 0.12 13.21

Asia Pacific

Nikkei Japanese 20,620.19 0.06 3.08 Shanghai China 2,886.24 1.31 17.25 TWSE Taiwan 10,634.85 (0.12) 9.20 KOSPI Korea 1,969.19 0.19 (3.34) KLSE Malaysia 1,612.14 0.04 (4.60) ST – Times Singapore 3,082.96 (0.13) 0.33 Sensex India 37,068.93 0.71 3.51 Hangseng Hongkong 25,724.73 (0.38) (0.85)

Sectoral Previous Lastest Chg% YTD% AGRICULTURE 1,360.56 1,367.90 0.54 (12.56) MINING 1,611.86 1,640.05 1.75 (7.68) MISC INDUSTRY 1,188.64 1,170.20 (1.55) (16.08) BASIC INDUSTRY 884.16 887.48 0.38 3.83 CONSUMER GOODS 2,399.19 2,358.75 (1.69) (8.19) PROPERTY 499.47 493.97 (1.10) 10.32 INFRASTRUKTUR 1,230.61 1,223.97 (0.54) 15.00 FINANCE 1,263.90 1,254.92 (0.71) 6.74 MANUFAKTURE 1,532.19 1,515.72 (1.07) (6.33) TRADE 798.58 800.68 0.26 2.14 LQ 45 995.76 986.45 (0.94) 0.38

Commodities Previous Lastest Chg% YTD%

Oil (USD/bbl) 56.71 55.10 (2.84) 20.66 Gold (USD tr.oz) 1,520.30 1,529.40 0.60 18.96 Nickel (USD/mtrc ton) 17,900.00 18,060.00 0.89 68.94 Tin (USD/mtrc ton) 16,350.00 16,800.00 2.75 (13.74) Copper (USD/mtrc ton) 5,652.00 5,620.00 (0.57) (5.78) CPO (MYR/ton) 2,155.00 2,168.00 0.60 8.18 Coal (USD/ton) 64.00 65.75 2.73 (35.85)

Currencies

Last Chg% YTD% IDR / USD

14,194.00 0.31 1.38

IDR / AUD

9,543.13 0.61 6.52 IDR / EUR

15,575.40 1.26 5.59

IDR /SGD

10,206.96 0.48 3.41 IDR / JPY

133.56 0.24 (2.19)

IDR / GBP

17,152.53 1.24 6.80 Global Macro Economics CB Rate CPI YoY GDP YoY United States 2.25 1.80 2.30 Euro Area 0.00 1.00 1.10 United Kingdom 0.75 2.10 1.20 Japan 0.10 0.50 1.20 China 4.35 2.80 6.20 Domestic macro Economics Lastest Chg% YTD% Jibor 5.00 (15.02) 28.20 GovBonds (5y) 6.79 (0.06) (14.15) GovBonds (10y) 7.34 0.04 (8.60)

Inflasi YoY 3.49

Inflasi MoM 0.12 Bi rate 5.50 GDP Growth YoY (%) 5.05

Foreign Reserve (Bn) 125.90 Government Bonds Yield% Wow% Ytd% 7 Year 7.24 7.24 7.24 15 Year 7.76 7.76 7.76 20 Year 7.87 7.87 7.87 30 Year 8.06 8.06 8.06

Source: Bloomberg LP & OSO Research Team

Market Review Pada perdagangan awal pekan ini (02/09) IHSG ditutup melemah sebesar 0.60% ke level 6.290.55. Enam dari sepuluh indeks sektoral berakhir dalam zona merah, dimana sektor aneka industri dan barang konsumsi memimpin pelemahan masing-masing sebesar lebih dari 1%. Adapun saham yang menjadi penggerak indeks diantaranya ; BBCA, HMSP, UNVR, BBRI, GGRM. Pelaku pasar asing membukukan aksi jual bersih (Netsell) senilai Rp 98 miliar. Nilai tukar rupiah terapresiasi sebesar 0.31% ke level 14.194.

Global Review

Pada awal pekan ini (02/09) bursa saham Wall Street ditutup karena hari libur buruh nasional di Amerika Serikat (AS).

JCI Prediction IHSG ditutup melemah sebesar 0.6% ke level 6.290. IHSG ditutup bearish candle dan membentuk swing high. Adapun indikator Stochastic dead cross dan MACD histogram bergerak turun dengan Volume turun. Kami perkirakan IHSG kembali bergerak melemah dengan pergerakan di kisaran 6223-6306.

Major Economic Release

Markit Manufacturing PMI Indonesia bulan

Agustus turun ke level 49. dari sebelumnya di

level 49.6.

Capital Spending Japan pada Kuartal II 2019

tercatat tumbuh melambat atau sebesar

1.9% lebih rendah dari sebelumnya sebesar

6.1% (YoY).

Inflation Rate Indonesia pada bulan Agustus

tercatat sebesar 3.49% lebih tinggi dari

sebelumnya sebesar 3.32% (YoY).

Markit/CIPS Manufacturing PMI United

Kingdom bulan Agustus turun ke level 47.4.

dari sebelumnya di level 48.



TODAY TOP STOCK TRADED (LQ45)

Top Gainers

Last Chg% YTD% MC (T) Beta

INCO IJ Equity

3,970 12.46 21.78 39.45 1.86

BRPT IJ Equity

990 9.39 107.11 88.12 1.38

ANTM IJ Equity

1,170 9.35 52.94 28.12 1.73

EXCL IJ Equity

3,620 4.02 82.83 38.69 1.16

PGAS IJ Equity

1,995 3.91 (5.90) 48.36 1.85

Top Losers

Last Chg% YTD% MC (T) Beta

WIKA IJ Equity

2,000 (9.50) 20.85 17.94 1.52

PTPP IJ Equity

1,760 (4.86) (2.49) 10.91 1.88

GGRM IJ Equity

66,400 (4.43) (20.60) 127.76 0.93

ITMG IJ Equity

12,450 (4.23) (38.52) 14.07 1.36

CTRA IJ Equity

1,050 (4.11) 3.96 19.49 2.03

Top Volume

Last Volume (Mn) YTD% MC (T) Beta

ANTM IJ Equity

1,170 380.9 52.9 28.12 1.73

BRPT IJ Equity

990 173.6 107.1 88.12 1.38

INCO IJ Equity

3,970 166.1 21.8 39.45 1.86

HMSP IJ Equity

2,630 94.3 (29.1) 305.92 1.21

ADRO IJ Equity

1,155 81.2 (4.9) 36.94 1.42

Top Value

Last Value (Bn) YTD% MC (T) Beta

BBRI IJ Equity

4,220 460.0 15.3 520.52 1.64

BBCA IJ Equity

30,000 441.9 15.4 739.65 1.02

TLKM IJ Equity

4,410 419.6 19.3 436.86 0.78

BMRI IJ Equity

7,175 381.6 (2.7) 334.83 1.54

ASII IJ Equity

6,550 348.2 (20.4) 265.17 1.28

BENCHMARK INDICES COMPARISON Indices Country Latest P/E PBV Target 2019F Asia Pacific

IHSG

Indonesia 6,291 20.13 2.15 6,800

Nikkei

Japanese 20,620 14.65 1.56 24,014

Shanghai

China 2,924 14.13 1.45 3,274

TWSE

Taiwan 10,635 16.84 1.62 11,395

KOSPI

Korea 1,969 12.70 0.78 2,562

KLSE

Malaysia 1,612 19.53 1.63 1,696

ST - Times

Singapore 3,083 12.12 1.03 3,583

Sensex

India 37,333 25.95 2.81 42,721

Hangseng

Hongkong 25,627 9.99 1.14 32,250

JAKARTA COMPOSITE INDEX MOVERS

Movers

Latest Chg% YTD% MC (T) Beta

SMMA IJ Equity

9600 20.00 10.98 61 0.74

BRPT IJ Equity

990 9.39 107.11 88 1.38

INCO IJ Equity

3970 12.46 21.78 39 1.86

ANTM IJ Equity

1170 9.35 52.94 28 1.73

IPTV IJ Equity

380 21.79 #N/A N/A 13 8.35

Laggard


BBCA IJ Equity

30000 (1.64) 15.38 740 1.02

HMSP IJ Equity

2630 (2.23) (29.11) 306 1.21

UNVR IJ Equity

47950 (1.84) 5.62 366 1.07

BBRI IJ Equity

4220 (1.17) 15.30 521 1.64

GGRM IJ Equity

66400 (4.43) (20.60) 128 0.93

Movers


OSO MANAJEMEN INVESTASI

Mutual Fund Latest 1 Month (%) YTD% Oso Sustainability Fund

1,434.94 (3.44) (4.93)

Oso Syariah Equity Fund

1,296.05 (4.77) 165.54

Source: Bloomberg LP & OSO Research Team



COMPARATION OF JCI PERFORMANCE (SEAG)


OSODaily 05 April 2019


MACRO ECONOMIC & INDUSTRY NEWS

o Badan Pusat Statistik (BPS) mencatat nilai tukar petani (NTP) atau daya beli petani nasional naik 0,58% (mom),

yaitu dari 102,63 pada Juli 2019. Kenaikan NTP Agustus 2019 disebabkan oleh kenaikan indeks harga yang diterima

petani (lt) naik sebesar 0,69%, lebih tinggi dibandingkan dengan kenaikan indeks harga yang dibayar petani (lb)

sebesar 0,11%.

o Badan Pusat Statistik (BPS) mencatat jumlah kunjungan wisatawan mancanegara (wisman) pada Juli

2019 mengalami peningkatan 2,03% (mom). Namun, bila secara year on year, mengalami penurunan sebesar

4,10%.

o China mengajukan gugatan ke Organisasi Perdagangan Dunia (WTO) terhadap langkah Amerika Serikat (AS) yang

mengenakan tarif 15% atas produk mereka. Kementerian Perdagangan China tidak mengungkapkan secara perinci

keberatan yang ajukan ke WTO. Tapi mereka mengatakan, tarif AS berdampak atas ekspor China ke US senilai US$

300 miliar .

CORPORATES NEWS o Beban keuangan PT Indosat Tbk (ISAT) sedikit berkurang. Pasalnya, perusahaan baru saja melunasi salah satu

utangnya yang jatuh tempo. Hutang yang dilunasi adalah Obligasi Berkelanjutan I Indosat Tahap IV Tahun 2016 Seri

B dan Sukuk Ijarah Berkelanjutan I Indosat Tahap IV Tahun 2016 Seri B. Pelunasannya dilakukan pada 2 September.

Jika ditotalkan, utang yang dilunasi mencapai Tp 1,15 triliun.

o PT Mega Perintis Tbk (ZONE) bersiap untuk ekspansi ke bisnis pakaian wanita. Lama dikenal sebagai peritel pakaian

pria mulai diversifikasi produknya. Perseroan mengatakan pengembangan produk sudah dilaksanakan pada tahun

ini. Uji tes produksi akan mulai dilaksanakan periode Oktober sampai Desember.

o PT Trisula International Tbk (TRIS) bakal menggelar penambahan modal dengan hak memesan efek terlebih

dahulu (PMHMETD) atau rights issue. TRIS berencana melepas maksimal 2,09 miliar saham dengan harga nominal

Rp 100 per saham. Sebagai pemanis, perusahaan juga menerbitkan waran seri I maksimal 348,98 juta waran.

o PT Bank Danamon Indonesia Tbk (BDMN) dan PT Bank Nusantara Parahyangan Tbk (BNPB) telah menyelesaikan

proses penggabungan usaha secara operasional.Nasabah bank yang bergabung yakni BNP sudah dapat menikmati

beragam produk dan layanan Bank Danamon.

o PT Indo Kordsa Tbk (BRAM) masih fokus pada pasar ekspor yang sudah ada ketimbang menjajal pasar baru. Asal

tahu saja, sampai semester I 2019, kontribusi penjualan ekspor sudah mencuil 60% dari total pendapatan Indo

Kordsa.

o Pemerintah akan segera memberlakukan pelarangan ekspor bijih nikel atau ore nikel pada akhir Desember 2019.

Menyambut itu, PT Aneka Tambang Tbk (ANTM) akan melakukan evaluasi strategi untuk mengganti pendapatan

ekspor bijih nikel dengan meningkatkan kinerja komoditas lainnya yakni feronikel, emas dan bauksit.

Sumber: Kontan, Bisnis Indonesia, Iqplus

NOTE: Positive Sentiment Negative Sentiment Netral




Technical

Medium/Minor trend : Uptrend MACD line/histogram : Positif Stochastic : Bullish Volume : Meningkat

Recommendation : BUY Entry Buy : 1.145 – 1.155 Target Price : 1.180 – 1.200 Support : 1.130 – 1.140 Cutloss : 1.125

DAILY TECHNICAL

Adaro Tirta Mandiri Dan ITB Kembangkan Smart Water Meter PT Adaro Tirta Mandiri (ATM) bekerjasama dengan Lembaga Pengembangan Inovasi dan Kewirausahaan Institut Teknologi Bandung (LPIK-ITB) mengembangkan Smart Water Meter atau alat pencatat air digital Smart Water Meter. Penandatanganan kerjasama tersebut dilakukan Direktur Utama ATM Wito Krisnahadi, Direktur ATM Ahmad Rosyid, dan Wakil Rektor Bidang Riset, Inovasi & Kemitraan ITB Prof. Bambang Riyanto Trilaksono, Jumat, 30/8/2019, di Ruang Rapim A, Rektorat ITB, Bandung. Direktur Utama PT Adaro Tirta Mandiri, Wito Krisnahadi menjelaskan kerjasama ini akan dilakukan dalam 3 tahap.

Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.180. Apabila break 1.180 next harga ke level 1.200. Hati-hati jika harga tidak mampu break up atau menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.125 jika sudah melewati support 1.130 – 1.140.

|ADRO|PE : 4.40x | PBV : 0.59x | ROE: 13.36% | NPM : 16.72% | DER : 0.61x | Fair Value : 1.500|

Souce: OSO Research Team

BUY

NOTE:




Technical



DAILY TECHNICAL

BUY |PGAS|PE : 13.04x | PBV : 1.03x | ROE: 7.90% | NPM : 7.56% | DER : 1.27x | Fair Value : 2.500|

PGN-Pemkot Yogya Teken MoU Pemanfaatan Gas Bumi Untuk mewujudkan program 'smart city' di wilayah kota Yogyakarta, PT Perusahaan Gas Negara Tbk (PGN) hari ini menandatangani nota kesepahaman dengan Pemerintah Kota (Pemkot) Yogyakarta dalam penyediaan infrastruktur dan pemanfaatan gas bumi di kota ini. Penandatangan kerjasama ini dilakukan oleh Walikota Yogyakarta Haryadi Suyuti dan Direktur Utama PGN Gigih Prakoso di ruang Nakula, Pemkot Yogyakarta. Hadir dalam kesempatan ini jajaran manajemen PGN dan para pejabat di lingkungan Pemkot Yogyakarta. Direktur Utama PGN Gigih Prakoso menyatakan, kerjasama dengan Pemkot Yogyakarta ini merupakan bagian dari strategi jangka panjang PGN untuk memperluas pemanfaatan gas bumi di wilayah-wilayah yang belum terjamah energi baik gas bumi.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang menguji level 2.040. Apabila break 2.040 next harga ke level 2.070. Hati-hati jika harga tidak mampu tembus 2.040 atau malah berbailk menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.950 jika sudah melewati support 1.955 – 1.965.

NOTE:




Technical



DAILY TECHNICAL

BUY |TINS|PE : 6.85x | PBV : 1.19x | ROE: 17.41% | NPM : 7.11% | DER : 1.59x | Fair Value : 1.750|

Pemda Bangka Belitung Ajukan Tambahan 10% Saham Di TINS Pemerintah Provinsi Kepulauan Bangka Belitung mengajukan tambahan 10% kepemilikan saham di Timah Tbk (TINS) untuk mendukung pembangunan infrastruktur dan ekonomi masyarakat di provinsi tersebut. Saat ini saham TINS yang diberikan kepada Pemprov Kepulauan Bangka Belitung sebesar. Selain tambahan 10% saham TINS Pemprov Bangka Belitung juga mengajukan penambahan royalti guna mempercepat pembangunan menginat saat ini pendapatan di sektor penambangan bijih timah ini besar, namun belum bisa mendukung pembangunan secara kuat. Di sisi lain manajemen TINS mengatakan akan mengikuti keputusan pemerintah selaku pemegang saham mayoritas.


Harga ditutup bullish candle dan menguji resistance. Harga berpeluang kembali menguji level 1.130. Apabila berhasil menguji 1.130 next harga ke level 1.165. Hati-hati jika harga tidak mampu break up atau berbalik menembus area support. Batasi resiko dengan tetap memperhatikan support. Cutloss di 1.070 jika sudah melewati support 1.075 – 1.085.

NOTE:




Sector Rotation

Mingguan

Bulanan



FUNDAMENTAL ANALYSIS (LQ 45)

Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) P/EBITDA ROA (%) ROE (%) DER (x) Fair Value Up-Side Recommendation

SECTOR BASIC INDUSTRY

BRPT IJ Equity 990 9.39 107.11 5.23 77.04 7.12 1.13 5.21 98.23 630 -36% Sell

CPIN IJ Equity 4,890 (2.69) (32.32) 4.18 20.85 12.89 13.99 21.19 22.95 4,571 -7% Sell

INKP IJ Equity 6,825 (0.36) (40.91) 0.68 6.67 2.67 4.61 10.66 113.83 11,300 66% Buy

INTP IJ Equity 21,400 (1.50) 15.99 3.61 55.06 29.64 5.47 6.48 0.50 19,895 -7% Sell

JPFA IJ Equity 1,520 (3.49) (29.30) 1.83 9.40 4.31 8.00 20.16 59.63 1,728 14% Buy

SMGR IJ Equity 13,275 0.19 15.43 2.60 30.39 11.16 4.11 8.74 30.13 14,687 11% Buy

TKIM IJ Equity 9,750 (2.01) (12.16) 1.61 10.54 16.04 6.95 16.45 120.71 13,000 33% Buy

TPIA IJ Equity 8,900 0.85 50.21 6.27 88.66 29.21 4.18 7.14 34.35 4,568 -49% Sell

Industry Average in LQ45 3.25 37.33 14.13 6.06 12.00 60.04

Total of Industry Average 1.75 24.77 10.24 2.29 (23.66) 101.08

SECTOR CONSUMER GOODS

GGRM IJ Equity 66,400 (4.43) (20.60) 2.88 15.00 8.85 12.84 20.01 38.38 91,809 38% Buy

HMSP IJ Equity 2,630 (2.23) (29.11) 10.74 21.59 16.32 32.64 50.51 0.33 3,638 38% Buy

ICBP IJ Equity 11,975 (0.62) 14.59 6.13 28.72 17.11 13.48 22.92 9.06 12,041 1% Hold

INDF IJ Equity 8,000 0.95 7.38 2.01 14.76 5.77 4.98 14.36 59.18 8,308 4% Hold

KLBF IJ Equity 1,675 (0.89) 10.20 5.35 31.42 20.86 13.62 17.85 2.34 1,604 -4% Sell

UNVR IJ Equity 47,950 (1.84) 5.62 72.09 39.44 26.70 43.81 183.94 20.26 45,656 -5% Sell


Total of Industry Average 6.38 25.90 20.68 9.18 19.76 46.26

SECTOR INFRASTRUCTURE

EXCL IJ Equity 3,620 4.02 82.83 2.07 130.48 4.02 (5.11) (14.59) 125.77 3,861 7% Hold

JSMR IJ Equity 5,400 (3.57) 26.17 2.22 17.68 5.84 2.50 13.33 157.26 6,444 19% Buy

PGAS IJ Equity 1,995 3.91 (5.90) 1.35 15.98 2.67 3.11 7.41 109.43 2,478 24% Buy

TLKM IJ Equity 4,410 (0.90) 19.27 4.65 21.40 6.67 9.77 22.82 37.58 4,713 7% Hold


Total of Industry Average 3.05 38.15 189.30 (4.07) (63.46) 131.60

Source: Bloomber LP





SECTOR MINING

ADRO IJ Equity 1,155 2.67 (4.94) 0.69 5.01 2.00 7.45 14.21 32.95 1,574 36% Buy

AKRA IJ Equity 4,240 (0.70) (1.17) 2.06 23.44 13.44 4.78 11.01 42.61 4,929 16% Buy

ANTM IJ Equity 1,170 9.35 52.94 1.41 35.13 10.26 2.47 4.14 50.26 1,299 11% Buy

INCO IJ Equity 3,970 12.46 21.78 1.50 529.55 23.27 0.23 0.27 1.94 4,033 2% Hold

INDY IJ Equity 1,335 (1.11) (15.77) 0.53 30.28 1.02 0.46 1.74 129.53 2,125 59% Buy

ITMG IJ Equity 12,450 (4.23) (38.52) 1.08 4.19 2.32 17.45 25.70 - 18,674 50% Buy

MEDC IJ Equity 730 (1.35) 6.57 0.72 9.06 1.41 (1.14) (5.07) 202.38 1,043 43% Buy

PTBA IJ Equity 2,420 (2.02) (43.72) 1.48 5.41 3.89 19.44 29.25 5.12 3,422 41% Buy



SECTOR MISC INDUSTRY

ASII IJ Equity 6,550 (1.87) (20.36) 1.90 12.57 6.81 6.40 15.79 49.27 8,009 22% Buy

SRIL IJ Equity 334 (0.60) (6.70) 0.84 5.21 2.29 6.72 17.23 139.64 Neutral #VALUE! #VALUE!



SECTOR PROPERTY

BSDE IJ Equity 1,345 (0.37) 7.17 0.90 8.59 8.49 5.69 11.01 46.06 1,706 27% Buy

CTRA IJ Equity 1,050 (4.11) 3.96 1.34 14.95 7.32 3.84 9.39 50.80 1,349 28% Buy

PTPP IJ Equity 1,760 (4.86) (2.49) 0.85 7.89 3.67 2.84 11.34 74.03 2,647 50% Buy

PWON IJ Equity 620 (3.13) - 2.19 10.75 7.95 11.10 22.42 36.44 765 23% Buy

WIKA IJ Equity 2,000 (9.50) 20.85 1.17 8.52 4.36 3.70 14.89 78.93 2,832 42% Buy

WSKT IJ Equity 1,705 (2.29) 1.49 1.28 11.74 4.59 1.58 11.35 224.10 2,305 35% Buy



Source: Bloomber LP





SECTOR TRADE

ERAA IJ Equity 1,550 - (29.55) 1.07 9.64 4.12 4.54 11.78 88.81 1,952 26% Buy

LPPF IJ Equity 3,020 - (46.07) 4.68 9.41 5.04 15.33 45.23 - 4,783 58% Buy

MNCN IJ Equity 1,250 0.81 81.16 1.47 7.59 4.41 12.35 20.53 42.22 1,565 25% Buy

SCMA IJ Equity 1,225 (0.81) (34.49) 3.60 12.59 9.11 20.52 29.07 0.33 1,889 54% Buy

UNTR IJ Equity 20,600 (1.55) (24.68) 1.40 6.85 3.07 10.84 21.57 17.95 30,275 47% Buy



Last Price Change (%) Chg. Ytd (%) PBV (x) PE (x) LDR (%) NPL NIM (%) DER (x) Fair Value Up-Side Recommendation

SECTOR FINANCE

BBCA IJ Equity 30,000 (1.64) 15.38 4.63 27.09 88.15 1.40 6.53 6.30 30,749 2% Hold

BBRI IJ Equity 4,220 (1.17) 15.30 2.74 15.34 90.10 2.27 7.35 64.57 4,710 12% Buy

BBNI IJ Equity 7,625 (0.97) (13.35) 1.24 9.34 92.85 1.90 5.14 82.33 9,995 31% Buy

BBTN IJ Equity 2,010 0.50 (20.87) 0.86 7.92 103.45 2.82 3.81 188.00 2,676 33% Buy

BMRI IJ Equity 7,175 (1.03) (2.71) 1.80 12.70 100.47 2.75 5.36 56.75 9,013 26% Buy

BTPS IJ Equity 3,200 (0.62) 78.27 6.17 24.62 454.49 1.39 38.72 149.94 3,653 14% Buy



Source: Bloomber LP



TECHNICAL ANALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

ADRO IJ Equity 1,155 (4.9) Negatif Trading Positif 1,005 1,075 1,150 1,135 1,115 1,080 1,170 1,190 1,065 Hold

AKRA IJ Equity 4,240 (1.2) Negatif OverBought Positif 3,665 3,985 4,300 4,255 4,205 4,155 4,305 4,355 4,090 Sell

ANTM IJ Equity 1,170 52.9 Negatif Trading Negatif 925 1,040 1,160 1,145 1,115 1,085 1,175 1,205 1,070 Sell

ASII IJ Equity 6,550 (20.4) Positif Trading Positif 6,250 6,600 6,950 6,650 6,550 6,475 6,725 6,825 6,375 Speculative Buy

BBCA IJ Equity 30,000 15.4 Negatif Trading Positif 29,600 30,025 30,425 30,250 30,000 29,750 30,500 30,750 29,300 Hold

BBNI IJ Equity 7,625 (13.4) Negatif Trading Positif 7,425 7,800 8,175 7,675 7,600 7,575 7,700 7,775 7,450 Hold

BBRI IJ Equity 4,220 15.3 Negatif Trading Positif 4,020 4,200 4,380 4,245 4,210 4,175 4,280 4,315 4,110 Hold

BBTN IJ Equity 2,010 (20.9) Positif Oversold Negatif 2,020 2,215 2,410 2,020 1,975 1,960 2,035 2,080 1,930 Speculative Buy

BMRI IJ Equity 7,175 (2.7) Negatif Trading Negatif 7,000 7,300 7,575 7,200 7,150 7,100 7,250 7,300 6,975 Sell

BRPT IJ Equity 990 107.1 Negatif OverBought Positif 635 770 905 940 890 820 1,010 1,060 810 Sell

BSDE IJ Equity 1,345 7.2 Positif Trading Positif 1,285 1,350 1,420 1,350 1,340 1,335 1,355 1,365 1,315 Speculative Buy

BTPS IJ Equity 3,200 78.3 Positif Trading Positif 3,100 3,260 3,420 3,215 3,185 3,165 3,235 3,265 3,115 Speculative Buy

CPIN IJ Equity 4,890 (32.3) Negatif Trading Positif 4,480 4,750 5,025 4,955 4,860 4,755 5,050 5,150 4,680 Hold

CTRA IJ Equity 1,050 4.0 Positif Oversold Negatif 1,085 1,195 1,305 1,075 1,045 1,020 1,100 1,130 1,005 Speculative Buy

ERAA IJ Equity 1,550 (29.5) Negatif Oversold Negatif 1,390 1,830 2,265 1,570 1,525 1,510 1,585 1,630 1,485 Speculative Buy

EXCL IJ Equity 3,620 82.8 Negatif OverBought Positif 3,155 3,310 3,470 3,565 3,475 3,395 3,645 3,735 3,340 Sell

GGRM IJ Equity 66,400 (20.6) Positif Oversold Negatif 70,275 74,125 77,950 67,950 66,025 64,075 69,900 71,825 63,125 Speculative Buy

HMSP IJ Equity 2,630 (29.1) Positif Oversold Negatif 2,740 2,890 3,040 2,650 2,595 2,520 2,725 2,780 2,480 Speculative Buy

ICBP IJ Equity 11,975 14.6 Negatif OverBought Positif 10,825 11,525 12,225 12,025 11,975 11,875 12,125 12,175 11,700 Sell

INCO IJ Equity 3,970 21.8 Negatif OverBought Positif 2,895 3,285 3,675 3,975 3,625 3,455 4,145 4,495 3,400 Sell

INDF IJ Equity 8,000 7.4 Negatif OverBought Positif 7,075 7,550 8,050 7,950 7,875 7,725 8,100 8,175 7,600 Sell

INDY IJ Equity 1,335 (15.8) Negatif Trading Positif 1,310 1,365 1,420 1,350 1,330 1,315 1,365 1,385 1,295 Hold

INKP IJ Equity 6,825 (40.9) Negatif Trading Positif 6,325 7,025 7,725 6,825 6,750 6,650 6,925 7,000 6,550 Hold

source: Bloomberg Lp



TECHNICAL ANALYSIS (LQ 45)

Ticker Last YtD% MA5 RSI Rec MACD Trend

Bollinger Band

Pivot Point

Support Resistance Stop Loss

Level Recommendation

Lower Middle Upper 1 2 1 2

INTP IJ Equity 21,400 16.0 Negatif Trading Negatif 20,700 21,650 22,625 21,575 21,350 21,025 21,900 22,125 20,725 Sell

ITMG IJ Equity 12,450 (38.5) Negatif Oversold Positif 10,700 13,625 16,550 12,750 12,425 12,150 13,025 13,350 11,950 Speculative Buy

JPFA IJ Equity 1,520 (29.3) Positif Trading Positif 1,495 1,565 1,640 1,555 1,520 1,485 1,590 1,625 1,465 Speculative Buy

JSMR IJ Equity 5,400 26.2 Positif Trading Negatif 5,450 5,675 5,900 5,500 5,375 5,275 5,600 5,725 5,200 Hold

KLBF IJ Equity 1,675 10.2 Negatif OverBought Positif 1,345 1,535 1,725 1,670 1,650 1,615 1,705 1,725 1,590 Sell

LPPF IJ Equity 3,020 (46.1) Negatif Oversold Negatif 2,940 3,170 3,395 3,040 3,005 2,990 3,055 3,090 2,945 Speculative Buy

MEDC IJ Equity 730 6.6 Negatif Oversold Negatif 725 770 820 730 710 700 740 760 685 Speculative Buy

MNCN IJ Equity 1,250 81.2 Positif Trading Negatif 1,225 1,275 1,320 1,245 1,220 1,195 1,270 1,295 1,175 Hold

PGAS IJ Equity 1,995 (5.9) Negatif Trading Positif 1,835 1,940 2,040 1,960 1,920 1,875 2,005 2,045 1,845 Hold

PTBA IJ Equity 2,420 (43.7) Negatif Trading Positif 2,340 2,470 2,595 2,450 2,415 2,390 2,475 2,510 2,350 Hold

PTPP IJ Equity 1,760 (2.5) Positif Oversold Positif 1,800 1,890 1,975 1,805 1,755 1,695 1,865 1,915 1,670 Buy

PWON IJ Equity 620 - Positif Oversold Negatif 625 675 725 630 615 600 645 660 590 Speculative Buy

SCMA IJ Equity 1,225 (34.5) Negatif Trading Positif 1,135 1,230 1,330 1,245 1,195 1,160 1,280 1,330 1,140 Hold

SMGR IJ Equity 13,275 15.4 Negatif OverBought Negatif 12,425 12,900 13,375 13,250 13,125 13,000 13,375 13,500 12,800 Strong Sell

SRIL IJ Equity 334 (6.7) Positif Trading Negatif 335 339 343 336 333 332 337 340 327 Hold

TKIM IJ Equity 9,750 (12.2) Negatif Trading Positif 8,975 9,850 10,700 9,850 9,675 9,600 9,925 10,100 9,450 Hold

TLKM IJ Equity 4,410 19.3 Negatif OverBought Positif 4,110 4,315 4,515 4,425 4,400 4,375 4,450 4,475 4,310 Sell

TPIA IJ Equity 8,900 50.2 Negatif Strong Sell Positif 6,475 7,825 9,175 8,875 8,800 8,725 8,950 9,025 8,600 Sell

UNTR IJ Equity 20,600 (24.7) Negatif Oversold Positif 19,025 21,325 23,650 20,750 20,575 20,350 20,975 21,150 20,050 Speculative Buy

UNVR IJ Equity 47,950 5.6 Negatif OverBought Positif 42,800 45,475 48,175 48,325 47,925 47,500 48,750 49,150 46,800 Sell

WIKA IJ Equity 2,000 20.8 Positif Trading Negatif 2,160 2,275 2,385 2,115 1,995 1,885 2,225 2,345 1,855 Hold

WSKT IJ Equity 1,705 1.5 Positif Oversold Negatif 1,715 1,795 1,870 1,730 1,705 1,680 1,755 1,780 1,655 Speculative Buy

source: Bloomberg Lp



MAJOR ECONOMIC RELEASE CALENDAR

Date Event Country Act Prev Cons

2-Sep-19 Japan, Capital Spending YoY Q2 JPY 1.9% 6.1% Indoneesia, Markit Manufacturing PMI AUG IDN 49.0

49.6

Indoneesia, Inflation Rate YoY AUG IDN 3.49% 3.32% 3.27%

Indoneesia, Inflation Rate MoM AUG IDN 0.12% 0.31% 0.26%

Indoneesia, Tourist Arrivals YoY JUL IDN -4.1% 9.94% GB Markit/CIPS Manufacturing PMI AUG GBR 47.4 48 3-Sep-19 GB Construction PMI AUG GBR 45.3

US Markit Manufacturing PMI Final AUG USD 50.4 49.9

US ISM Manufacturing PMI AUG USD 51.2 51.4

US IBD/TIPP Economic Optimism SEP USD 55.1

US Construction Spending MoM JUL USD -1.3% 0.3%

US Total Vehicle Sales AUG USD 16.8M

4-Sep-19 China, Caixin Services PMI AUG CNY 51.6

China, Caixin Composite PMI AUG CNY 50.9

US Balance of Trade JUL USD $-55.2B

US Exports JUL USD $206.3B

US Imports JUL USD $261.5B

US API Crude Oil Stock Change AUG/30 USD -3.5M

Source: Bloomberg Lp

https://tradingeconomics.com/japan/private-investment

https://tradingeconomics.com/indonesia/manufacturing-pmi

https://tradingeconomics.com/indonesia/inflation-cpi

https://tradingeconomics.com/indonesia/inflation-cpi

https://tradingeconomics.com/indonesia/inflation-rate-mom

https://tradingeconomics.com/indonesia/inflation-rate-mom

https://tradingeconomics.com/indonesia/tourist-arrivals

https://tradingeconomics.com/united-kingdom/manufacturing-pmi

https://tradingeconomics.com/united-states/manufacturing-pmi

https://tradingeconomics.com/united-states/business-confidence

https://tradingeconomics.com/united-states/construction-spending



CORPORATE ACTION

RUPS

Date Time Company Event Place

5-Sep-19 8:30 URBN RUPSLB Hotel Grandhika Iskandarsyah 10:00 MPRO RUPSLB Mayapada Tower 2

11-Sep-19 10:00 BTPN RUPSLB Menara BTPN Lt 27 10:00 COCO RUPSLB Bandung

12-Sep-19 14:00 MKNT RUPSLB Jakarta

17-Sep-19 14:00 PANI RUPSLB Aula Serbaguna Dahlia Apartemen Kedoya

18-Sep-19 10:00 INAF RUPSLB Hotel Borobudur Jakarta 14:00 KAEF RUPSLB Hotel Borobudur Jakarta Dividend

Code Status Cum- Date Ex-Date Recording Date Pay -Date Ammount (IDR)/Share

IKBI Cash Dividen 30-Jul-19 31-Jul-19 1-Aug-19 22-Aug-19 8.8

AKRA Cash Dividen 5-Aug-19 6-Aug-19 7-Aug-19 16-Aug-19 50

SMSM Cash Dividen 8-Aug-19 9-Aug-19 12-Aug-19 23-Aug-19 15

IPO Company Underwriter Offering Date Listing Date IPO Price Shares (Mn)

Kencana Energy Tbk Bahana, RHB, Mirae Asset Sekuritas 23 - 27 Agustus 2019 2-Sep-19 396 733

Bhakti Agung Propertindo Tbk MNC Sekuritas 30 Agu - 02 Sep 2019 6-Sep-19 150 - 200 1,677

Optima Prima Metal Sinergi Sinarmas Sekuritas 12 - 16 September 2019 23-Sep-19 125 - 135 400

Source: KSEI and OSO Research Team



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Research Team

Ike Widiawati Head of Research +62 21 2991 5300 ([email protected])

Rifqiyati Research Analyst +62 21 2991 5300 (Rifqiyati @oso-securities.com)

Sukarno Alatas Research Analyst +62 21 2991 5300 ([email protected])

Mochammad Cahyo Research Analyst +62 21 2991 5300 ([email protected])

Michelle Abadi Research Associate +62 21 2991 5300 ([email protected])

Disclosure Of Interests

As of the date of this report, 1. The research analysts primarily responsible for the preparation of all or part of this report hereby certify that:

the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities

and issuers; and

no part of the analyst’s compensation was, is, or will be directly or indirectly, related to the specific recommendations or views

expressed in this research report.

2. The research analysts primarily responsible for the preparation of all or part of this report, or his/her associate(s), do not have any interest (including any direct or indirect ownership of securities, arrangement for financial accommodation or serving as an officer) in any company mentioned in this report

3. PT OSO Securities Indonesia on a business in Indonesia in investment banking, proprietary trading or agency broking in relation

to securities

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