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Company Update

30 Juni 2020

Early Bird 30 June 2020

The combination of The Dow Jones Industrial Average ended up 2.32% or equal to 580.25 points on Monday, best day since June 5, boosted by Boeing which gained 14.4% as certification flights for Boeing 737 max began Monday and Apple rise of 2.3% after last week, Friday, plunged 2.8% as surging coronavirus cases prompted large US states to impose new public health restrictions and the rise of EIDO 0.94% could be made as positive sentiments for Tuesday's trading in the middle of the The Indonesian Health Ministry announcement that 1,082 new confirmed COVID-19 cases on Monday, bringing the total number of infections nationwide to 55,092 and 51 more people had died of the disease, bringing the death toll to 2,805. Moreover, from commodity market, WTI crude oil prices up 3.88% on Monday, supported by improving economic data but held in check by sharp spikes in new coronavirus infections around the world that have forced some countries to impose partial lockdowns, meanwhile gold prices also slightly increased 0.01%, within striking distance of a near 8-year peak scaled last week and heading for their biggest quarterly gains in over 4 years, as a sharp rise in global coronavirus cases unnerved investors where those positive sentiment could boost share prices under those commodities for today's trading. Knowing some positive driving factors from DJIA, EIDO and commodity prices gains including possibility of window dressing 2Q20, we believe it could uplift Indonesia Stock Market Index where at the same time there are still many undervalued stocks that investor could selectively buy from Consumer, Infrastructure, Hospital, Basic Industry, Bank, Chemical, FMCG and Coal operator sectors for Tuesday's trading. We expect the JCI to move between 4,868 - 4,951, as for the stocks we recommend today are ICBP PGAS TOWR MIKA AGII BBNI BRPT UNVR BBRI UNTR

 

The majority of stock exchanges in developed countries move varied. The Asia’s moved down on Monday. The Hang Seng Index closed down by -1.01%, then the Shanghai index and the Kospi Index closed down -0.61% and -1.93% respectively. Meanwhile, the Dow Jones closed up by + 2.32% at the level of 25,595 this is in accordance with the strengthening of the S & P 500 of + 1.47%. Wall Street closed higher as gains from shares benefited from reopening in the US such as Boeing shares rose 14%, shares of Apple and Facebook rose above 2%. In addition, from the commodity market, CPO prices fell by -1.82% the price of Gold strengthened + 1.37% and the price of Crude Oil WTI Crude Oil rose + 3.14%.

 

In June 29 trading, the JCI closed flat by -0.05% to the level of 4,901 Market sentiment today including the US market which closed higher brought positive news for today's trading, after that it needs to be observed developments in the Covid-19 case globally, other positive sentiments of the ECB will add stimulus packages and increase crude oil prices.

 

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