Monday
January 05 2015
Morning Brief
Daily
IHSG (Jakarta Composite Index)
January 02
5242.77
Chg
+15.82 pts (+0.30%)
Volume (bn shares)
5.68
Value (IDR tn)
4.65
Adv 159 Dec 308 Unc 85 Untr 168
Foreign Transaction
Buy
Sell
Net Buy (Sell)
Top Net Buy
INDF
BMRI
AKRA
AALI
PTPP
(IDR bn)
1,671
1,675
(4)
NB Val.
200.7
112.7
26.9
18.5
17.5
LQ-45 Index
Gainers
INDF
AKRA
CTRA
PWON
ASRI
Indonesian Market Daily
Top Net Sell NS Val.
ASII
122.1
KLBF
27.4
BBCA
27.3
WIKA
23.0
AKRA
14.5
Top Gainers & Losers
Losers
%
ANTM
-1.9%
LPPF
-1.5%
KLBF
-1.1%
PTBA
-1.0%
INCO
-1.0%
%
10.4%
9.2%
5.6%
4.9%
3.6%
Government Bond Yield & FX
Tenor: 10 year
USD/IDR
KRW/IDR
Last
Chg.
7.8625%
12,545.00
11.37
-0.11%
1.27%
0.40%
Global Indexes
Index
Last
Chg.
%
Dow Jones
17,832.99
9.92
0.06%
S&P 500
2,058.20
(0.70)
-0.03%
Nasdaq
4,726.81
(9.24)
-0.20%
FTSE 100
6,547.80
(18.29)
-0.28%
CAC 40
4,252.29
(20.46)
-0.48%
DAX
9,764.73
(40.82)
-0.42%
Nikkei
17,450.77
(279.07)
-1.57%
Hang Seng
23,857.82
252.78
1.07%
S&P/ASX 200
5,435.93
24.93
0.46%
CSI 300
3,533.71
76.15
2.20%
KOSPI
1,926.44
10.85
0.57%
Last
Source: Win Direct Pro
JCI - daily charts
Source: Win Direct Pro
Indonesian Market Recap:
JCI opened 2015 year on positive territory as government new fuel subsidy
scheme boosted consumer sector. Top gainers: Property (+1.54%), Consumer
(+1.26%), Agri (+0.68%).
Today’s Outlook
For today we expect JCI to move slightly higher between support range 52005207 and resistance range 5250-5262. We see spinning candlestick after several
bullish candlesticks, indicating possibility of profit taking. JCI is nearing all-time
high at 5262, although its volume is diminishing. MACD line and histogram are
still on uptrend but Stochastic and William’s %R are on oversold area.
Global Market
United States
US market ended flat on opening day in 2015 as manufacturing data showed
slowing but still on expansion.
Europe
European market closed mixed last Friday as investors concerned disappointed
manufacturing data from US and China.
Asia
Asian market was on flat movement last Friday as investors waited for economic
data release while some markets were still on holiday.
Daily Recommendation (details on the next page)
Trading Buy: TAXI, PWON, SMRA
Daily News
WIKA
ADRO
ICBC
WINS
: Increase capital on its subsidiary
: To set currency rate at IDR 12,474 for dividend
: ICB Financial Group sell its stake
: Increase its stake on PT Win Offshore
Supplements
Inflation in 2014 at 8.36%
Trade balance deficit again in November
Indonesia Economic Data
Commodity Price
Commodity
JCI - Intraday
Chg.
%
Monthly Indicator
Last
Prev.
Quarterly Indicator
Last
Prev.
Gold ($/troy oz.)
1,188.39
6.41
0.54%
BI Rate
7.75%
7.75%
Real GDP
5.01%
5.12%
Crude Oil ($/bbl)
52.69
(0.58)
-1.09%
FX Reserve (USD bn)
111.14
111.97
Current Acc (USD bn)
-6.84
(8.69)
Gas ($/mmbtu)
3.00
0.11
3.95%
Trd Balance (USD bn)
-0.43
0.02
Govt Spending Yoy
4.37%
-0.71%
Nickel LME ($/MT) 14,756
(318.00)
-2.11%
Exports Yoy
-14.57%
-2.23%
FDI
41.91
41.82
Tin LME ($/MT)
19,676
242.50
1.25%
Imports Yoy
-7.31%
-2.21%
Business Confidence
107.24
106.00
CPO (MYR/Ton)
2,283
17.00
0.75%
Inflation Yoy
8.36%
6.23%
Cons. Confidence
120.10
119.80
PT Woori Korindo Securities Indonesia — Daily Morning Brief | www.woorisec.com
Page 11
Stocks Recommendation
TAXI
Analysis
We see white marubozu candlestick after two
bullish reversal pattern, indicating confirmed
bullish reversal. Price rebound after touched
middle bollinger line. Stochastic is having golden cross.
Range
1190 - 1250
Action
Maintain buy as price above 1190
Source: Win Direct Pro
PWON
Analysis We see white candlestick after morning doji
star, indicating confirmed bullish reversal
pattern. Price rebound after touched its 50%
retracement. MACD and Stochastic indicators
have golden cross.
Range
530 - 550
Action
Maintain buy as price above 530
Source: Win Direct Pro
SMRA
Analysis We see white candlestick after morning doji
star, indicating confirmed bullish reversal.
Price is on middle bollinger line. Stochastic
indicator is going to have golden cross.
Range
1530 - 1585
Action
Maintain buy as price above 1530
Source: Win Direct Pro
Daily News
WIKA : Increase capital on its subsidiary
State-owned constructor, PT Wijaya Karya will increase the
capital of its subsidiary PT Wijaya Karya Realty by IDR 300
billion to support growth of the subsidiary. Management
stated that this action will increase its ownership on PT Wijaya Karya Realty, hence the dividend paid will be higher in the
future. Currently PT Wijaya Karya Realty is developing 9 landed house and 12 high rise projects.
ADRO : To set currency rate at IDR 12,474 for dividend
Coal producer, PT Adaro Energy, Tbk set IDR 12,474 as its
currency rate for dividend interim payment. This currency
rate is decided based on Bank Indonesia middle rate on January 2nd 2015. By this currency rate, Adaro will pay total
about IDR 375 billion or IDR 11.73 per share for dividend.
ICBC
: ICB Financial Group sell its stake
ICB Financial Group officially sell all its stake on PT Bank MNC
International, Tbk. By this transaction, PT MNC Capital International, Tbk will hold 38.95 percent of PT Bank MNC International, Tbk. Previously, PT MNC Capital Indonesia hold 35
percent.
WINS : Increase its stake on PT Win Offshore
Shipping company, PT Wintermar Offshore Marine, Tbk is
increasing its stake on PT Win Offshore into 51% from 50%
previously. The company bought 1 percent additional stake
from PT Mandiri Abadi Maritim. By this transaction, there are
only two shareholders in PT Win Offshore now, PT Wintermar Offshore Marine, Tbk and Pacc Offshore Services.
PT Woori Korindo Securities Indonesia — Daily Morning Brief | www.woorisec.come 2
Page 22
Technical Indicators
Ticker
IHSG
Support
S3
S2
Resistance
S1
R1
R2
R3
SMA 5
MACD
STOCHASTIC
RSI
LOWER
MIDDLE
UPPER
BOLLINGER BAND BOLLINGER BAND BOLLINGER BAND
5,213
5,222
5,230
5,247
5,256
5,264
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
5,046
5,148
5,250
AALI
23,313
23,781
24,063
24,813
25,281
25,563
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
22,333
23,491
24,650
LSIP
1,853
1,866
1,883
1,913
1,926
1,943
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,843
1,928
2,012
ADRO
1,020
1,028
1,035
1,050
1,058
1,065 NEGATIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,007
1,065
1,123
HRUM
1,690
1,695
1,705
1,720
1,725
1,735
NEAR OVERBOUGHT
1,642
1,697
1,751
ITMG
14,950
15,175
15,475
16,000
16,225
16,525
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
14,201
16,414
18,626
INCO
3,485
3,538
3,590
3,695
3,748
3,800 NEGATIVE NEGATIVE
NEAR OVERBOUGHT
3,494
3,820
4,146
TINS
1,168
1,181
1,198
1,228
1,241
1,258 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,165
1,203
1,240
CPIN
3,748
3,756
3,783
3,818
3,826
3,853
POSITIVE NEGATIVE
OVERSOLD
NEAR OVERBOUGHT
3,594
3,901
4,209
MAIN
2,048
2,074
2,098
2,148
2,174
2,198 NEGATIVE POSITIVE
OVERSOLD
NEAR OVERBOUGHT
1,916
2,214
2,511
JPFA
935
940
945
955
960
965 NEGATIVE POSITIVE
OVERSOLD
NEAR OVERBOUGHT
871
1,000
1,129
INTP
24,500
24,650
24,800
25,100
25,250
25,400 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
23,463
24,730
25,997
Agriculture
Mining
POSITIVE NEGATIVE
POSITIVE
OVERBOUGHT
OVERSOLD
Basic Industries
SMCB
2,163
2,171
2,188
2,213
2,221
2,238
SMGR
15,863
15,994
16,063
16,263
16,394
16,463
WTON
1,220
1,245
1,265
1,310
7,288
7,331
7,388
7,488
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
2,140
2,231
2,321
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
15,510
16,210
16,910
1,335
1,355 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,174
1,249
1,324
7,531
7,588
6,873
7,153
7,432
Misc. Industries
ASII
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
Consumer
AISA
2,038
2,059
2,073
2,108
2,129
OVERSOLD
NEAR OVERBOUGHT
2,029
2,125
2,220
ICBP
12,713
12,906
12,988
13,263
13,456
13,538
POSITIVE
POSITIVE
OVERBOUGHT
OVERBOUGHT
10,981
11,985
12,989
INDF
6,250
6,550
6,850
7,450
7,750
8,050
POSITIVE
POSITIVE
OVERBOUGHT
OVERBOUGHT
6,225
6,631
7,037
ROTI
1,350
1,363
1,370
1,390
1,403
1,410 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,249
1,348
1,447
59,225
59,938
60,575
61,925
62,638
58,360
59,853
61,345
GGRM
2,143 NEGATIVE NEGATIVE
63,275
KLBF
1,778
1,791
1,803
1,828
1,841
UNVR
31,888
32,081
32,238
32,588
32,781
32,938
ASRI
525
540
555
585
600
BEST
668
694
718
768
794
BSDE
1,700
1,745
1,785
1,870
CTRA
1,210
1,238
1,265
CTRP
820
830
840
LPKR
995
1,005
1,015
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
1,853 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,716
1,788
1,859
NEAR OVERBOUGHT
30,534
31,454
32,373
615
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
504
559
615
818
POSITIVE NEGATIVE
OVERBOUGHT
NEAR OVERBOUGHT
676
719
761
1,915
1,955
POSITIVE NEGATIVE
OVERBOUGHT
NEAR OVERBOUGHT
1,706
1,803
1,900
1,320
1,348
1,375
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,186
1,279
1,371
860
870
880
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
806
848
889
1,035
1,045
1,055
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
937
1,073
1,209
POSITIVE
POSITIVE
OVERBOUGHT
Property
PWON
495
505
520
545
555
570
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
479
513
547
ADHI
3,355
3,413
3,470
3,585
3,643
3,700
POSITIVE
POSITIVE
OVERBOUGHT
OVERBOUGHT
2,686
3,085
3,484
PTPP
3,480
3,515
3,540
3,600
3,635
3,660
POSITIVE
POSITIVE
OVERBOUGHT
OVERBOUGHT
3,066
3,342
3,618
TOTL
1,053
1,076
1,093
1,133
1,156
1,173
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,032
1,089
1,146
WIKA
3,580
3,623
3,645
3,710
3,753
3,775
POSITIVE
POSITIVE NEAR OVERBOUGHT
OVERBOUGHT
2,975
3,333
3,692
WSKT
1,415
1,440
1,450
1,485
1,510
1,520
POSITIVE
POSITIVE
OVERBOUGHT
1,019
1,271
1,523
EXCL
4,745
4,773
4,815
4,885
4,913
4,955
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
4,602
4,878
5,153
TLKM
2,820
2,835
2,855
2,890
2,905
2,925
POSITIVE
POSITIVE
NEAR OVERBOUGHT
2,748
2,822
2,897
PGAS
5,900
5,938
5,975
6,050
6,088
6,125 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
5,795
5,939
6,082
JSMR
6,825
6,950
7,000
7,175
7,300
7,350
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
6,760
6,925
7,090
BBCA
13,063
13,106
13,188
13,313
13,356
13,438
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
12,889
13,161
13,433
BBNI
5,963
6,006
6,038
6,113
6,156
6,188 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
5,817
6,048
6,278
BBRI
11,288
11,406
11,488
11,688
11,806
11,189
11,513
11,836
OVERBOUGHT
Infrastructure
OVERBOUGHT
Finance
11,888 NEGATIVE NEGATIVE
OVERBOUGHT
NEAR OVERBOUGHT
BBTN
1,170
1,183
1,200
1,230
1,243
1,260
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
1,126
1,178
1,230
BMRI
10,650
10,700
10,750
10,850
10,900
10,950
POSITIVE
POSITIVE
OVERBOUGHT
NEAR OVERBOUGHT
10,392
10,648
10,903
Trade
AKRA
3,725
3,918
4,115
4,505
4,698
4,895
UNTR
17,075
17,138
17,250
17,425
17,488
17,600
ACES
760
768
775
790
798
ERAA
1,030
1,050
1,070
1,110
1,130
LPPF
14,375
14,575
14,650
14,925
15,125
15,200
MPPA
2,963
3,006
3,048
3,133
3,176
3,218
880
890
900
920
930
3,365
3,408
3,455
3,545
3,588
TELE
SCMA
BHIT
BMTR
275
278
284
293
296
1,373
1,394
1,403
1,433
1,454
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
805 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
4,037
4,418
4,798
16,705
17,321
17,937
737
774
811
NEAR OVERBOUGHT
1,028
1,161
1,294
POSITIVE NEGATIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,150 NEGATIVE NEGATIVE
OVERSOLD
14,008
14,951
15,895
NEAR OVERBOUGHT
2,939
3,327
3,716
940 NEGATIVE POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
886
910
935
3,208
3,374
3,539
POSITIVE NEGATIVE
OVERSOLD
3,635
POSITIVE
POSITIVE
302
POSITIVE
POSITIVE NEAR OVERBOUGHT NEAR OVERBOUGHT
1,463 NEGATIVE POSITIVE
OVERBOUGHT
OVERSOLD
NEAR OVERBOUGHT
NEAR OVERBOUGHT
PT Woori Korindo Securities Indonesia — Daily Morning Brief | www.woorisec.come 3
246
284
322
1,372
1,456
1,540
Page 33
Fundamental Ratios
Ticker
12 Month Consensus
Target Price
IHSG
5,637
Return
Potential
Market Cap
(trillion IDR)
PE (x)
PBV (x)
ROE (%)
52 Week
High
DER
52 Week
Low
YTD Return
(%)
1 Year
Return
7.51%
4,930.5
21.0
2.4
12.13%
0.69
5,263
4,161
0.30%
22.66%
0.27
29,850
19,250
1.34%
-0.30%
2,480
1,470
0.79%
0.26%
Agriculture
AALI
26,849
9.25%
38.7
14.0
3.6
28.06%
LSIP
2,179
14.38%
13.0
12.7
1.9
15.44%
-
Mining
ADRO
1,228
18.04%
33.3
9.9
0.9
9.64%
HRUM
1,420
-17.20%
4.6
15.0
1.2
8.02%
0.70
1,390
870
0.00%
-1.89%
-
2,850
1,410
3.31%
-37.64%
ITMG
22,350
40.57%
18.0
6.8
1.5
21.63%
INCO
4,604
28.25%
35.7
23.0
1.5
6.78%
0.13
-
30,250
15,050
3.41%
-43.42%
4,575
2,115
-0.97%
TINS
1,482
23.49%
8.9
12.8
1.8
14.88%
43.60%
0.28
1,595
848
-2.44%
12.39%
CPIN
4,476
17.79%
62.3
30.6
5.7
MAIN
2,841
33.69%
3.8
205.2
3.2
19.85%
0.29
4,500
3,260
0.53%
7.80%
1.71%
1.13
3,715
2,045
-0.23%
-35.61%
JPFA
1,305
37.34%
10.1
65.0
INTP
26,048
5.03%
91.3
17.8
2.1
3.19%
1.45
1,705
935
0.00%
-24.00%
3.9
22.85%
0.01
27,500
19,825
-0.80%
SMCB
2,472
12.37%
16.9
21.87%
18.3
1.9
10.64%
0.42
3,100
2,025
0.69%
SMGR
17,625
8.80%
-6.38%
96.1
17.3
4.3
26.70%
0.19
17,400
13,500
0.00%
11.72%
7,524
1.67%
299.6
14.7
3.3
24.35%
0.61
8,050
6,225
-0.34%
6.47%
AISA
2,700
ICBP
12,350
29.81%
6.7
17.9
2.3
14.12%
0.72
2,620
1,440
-0.72%
41.50%
-6.08%
76.7
31.4
5.7
18.95%
0.15
13,400
9,800
0.38%
INDF
25.84%
7,943
6.62%
65.4
18.1
2.6
15.11%
0.72
7,800
6,325
10.37%
ROTI
11.19%
1,485
8.03%
7.0
35.0
7.7
24.50%
0.83
1,480
980
-0.72%
33.50%
66,985
8.39%
118.9
23.2
3.7
17.14%
0.44
64,250
39,700
1.81%
44.56%
KLBF
1,774
-1.98%
84.8
41.1
9.6
24.94%
0.07
1,835
1,260
-1.09%
37.12%
UNVR
29,638
-8.88%
248.2
46.7
45.3
96.71%
0.23
33,000
25,800
0.70%
21.36%
Basic Industries
Misc. Industries
ASII
Consumer
GGRM
Property
ASRI
598
3.15%
11.4
13.8
2.0
15.07%
0.86
680
424
3.57%
27.47%
BEST
700
-8.45%
7.4
13.6
2.7
21.87%
0.22
770
379
4.79%
73.86%
BSDE
2,028
8.74%
34.3
9.1
2.3
30.69%
0.31
1,895
1,200
3.32%
41.29%
CTRA
1,330
0.77%
20.0
17.3
2.9
17.68%
0.28
1,370
750
5.60%
69.23%
CTRP
803
-6.14%
5.3
17.1
1.2
7.52%
0.45
905
555
1.18%
37.90%
LPKR
1,232
19.62%
23.8
17.1
1.6
10.10%
0.55
1,295
855
0.98%
13.19%
547
1.21%
26.0
16.7
5.2
36.08%
0.43
555
261
4.85%
92.86%
ADHI
3,194
-10.67%
6.4
19.7
4.2
23.12%
0.94
3,625
1,425
2.73%
132.14%
PTPP
3,231
-10.00%
17.4
35.3
8.1
25.07%
0.77
3,625
1,105
0.42%
201.68%
TOTL
1,059
-3.73%
3.8
23.2
5.0
22.11%
0.11
1,155
490
-1.79%
100.00%
WIKA
3,238
-11.88%
22.6
38.8
5.4
16.60%
0.37
3,895
1,580
-0.14%
121.39%
WSKT
1,115
-23.86%
14.3
37.3
5.9
16.77%
0.68
1,550
402
-0.34%
248.81%
TLKM
2,958
3.43%
288.3
19.1
4.3
23.94%
0.24
3,010
2,041
-0.17%
32.74%
PGAS
6,451
7.97%
144.8
13.2
4.4
32.86%
0.39
6,225
4,120
-0.42%
29.89%
JSMR
7,221
1.70%
48.3
33.2
4.9
15.37%
1.06
7,250
4,400
0.71%
50.26%
BBCA
13,120
-0.79%
326.1
20.3
4.4
23.71%
0.11
13,575
9,250
0.76%
34.95%
BBNI
6,371
4.45%
113.8
11.2
2.0
19.95%
0.59
6,300
3,660
0.00%
54.43%
BBRI
12,560
7.81%
287.4
11.9
3.1
29.18%
0.26
12,200
7,000
0.00%
59.59%
BBTN
1,185
-3.30%
12.9
10.3
1.1
11.02%
1.63
1,525
835
1.66%
36.11%
BMRI
11,805
9.05%
252.6
12.7
2.6
22.19%
0.45
11,000
7,600
0.46%
33.64%
AKRA
5,144
14.32%
17.6
25.0
3.4
14.17%
0.96
5,825
3,950
9.22%
0.56%
UNTR
20,563
18.86%
64.5
10.4
1.8
18.46%
0.11
25,350
16,425
-0.29%
-10.59%
ACES
936
19.96%
13.4
23.6
6.1
29.04%
0.02
1,025
590
-0.64%
27.87%
ERAA
1,233
14.18%
3.1
10.7
1.1
10.49%
0.43
1,665
950
-0.92%
0.93%
MPPA
3,521
13.56%
16.7
34.9
6.3
16.43%
0.02
3,665
1,720
1.64%
58.97%
TELE
1,083
20.36%
6.3
15.7
3.2
20.75%
1.05
985
620
-3.23%
40.63%
SCMA
3,621
3.47%
51.2
35.4
16.5
49.24%
0.00
4,200
2,410
0.00%
30.84%
BMTR
2,045
44.01%
20.2
28.8
1.8
6.35%
0.32
2,500
1,375
-0.35%
-25.26%
PWON
Infrastructure
Finance
Trade
PT Woori Korindo Securities Indonesia — Daily Morning Brief | www.woorisec.come 4
Page 44
Global Economic Calendar
JPN
GER
Europe
GBR
Hour
Jakarta
8:35 AM
All Day
4:30 PM
4:30 PM
Final Manufacturing PMI
German Preliminary CPI
Sentix Investor Confidence
Construction PMI
m/m
m/m
Index
m/m
Dec
Dec
Jan
Dec
CHN
Europe
GBR
USA
USA
8:45 AM
4:00 PM
4:30 PM
10:00 PM
10:00 PM
HSBC Services PMI
Final Services PMI
Services PMI
ISM Non-Manufacturing
Factory orders
Index
Index
Index
Index
m/m
Wednesday Europe
7-Jan
Europe
Europe
USA
USA
5:00 PM
5:00 PM
5:00 PM
8:15 PM
8:30 PM
CPI Flash Estimate
Core CPI Flash Estimate
Unemployment rate
ADP Non-Farm Employment Chg ('000)
Trade Balance (in USD bn)
Thursday
2:00 AM FOMC Meeting Minutes
Date
Country
Monday
5-Jan
Tuesday
6-Jan
8-Jan
Friday
9-Jan
USA
Event
Period
Actual
Consensus
Prev
0.10%
-0.9
59.2
52.1
0.00%
-2.5
59.4
Dec
Dec
Dec
Dec
Nov
51.9
58.9
58.2
-0.30%
53.0
51.9
58.6
59.3
-0.70%
m/m
m/m
m/m
m/m
m/m
Nov
Dec
Nov
Dec
Nov
0.00%
0.60%
11.50%
227
-42.3
0.30%
0.70%
11.50%
208
-43.4
CHN
GER
Europe
GBR
GBR
USA
Tentative
2:00 PM
5:00 PM
7:00 PM
Tentative
8:30 PM
Trade Balance (in CNY bn)
Retail Sales
Retail Sales
BOJ: Official Bank Rate
MPC Rate Statement
Unemployment Claims (‘000)
m/m
m/m
m/m
m/m
m/m
w/w
Dec
Nov
Nov
Jan
Jan
w4 Dec
54.5
0.30%
0.50%
0.40%
0.50%
291
298
CHN
CHN
USA
USA
8:30 AM
8:30 AM
8:30 AM
8:30 AM
CPI
PPI
Non-Farm Employment Change ('000)
Unemployment Rate
y/y
y/y
m/m
m/m
Dec
Dec
Dec
Dec
1.5%
-3.1%
241
5.70%
1.4%
-2.7%
321
5.80%
Supplement: Global & Local Events
Inflation in 2014 at 8.36%
Central Statistics Bureau (Badan Pusat Statistik or BPS) released inflation data in full year 2014 at 8.36%. This number is slightly
lower than 2013 inflation at 8.38%. This high level of inflation is caused mainly by fuel price hike, contributing 1.04 percent. In
addition, electricity and mass transportation cost are also giving significant contribution by 0.64 and 0.63 percent respectively.
Trade balance deficit again in November
After having surplus in October, Indonesia trade balance is on deficit again at USD 420 million in November. This deficit was
driven by deficit in oil and gas sector at USD 1.36 billion. However, non oil and gas sector is on surplus USD 940 million.
PT Woori Korindo Securities Indonesia — Daily Morning Brief | www.woorisec.come 5
Page 55
Disclaimer & Contacts
Research Team:
Reza Priyambada
[email protected]
Bagus Permadi
[email protected]
Raphon Prima
[email protected]
Institutional Equity Team:
Andy Rinaldy
[email protected]
Hendrik Panca
[email protected]
DISCLAIMER
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be reproduced or copied or made available to others. Under no circumstances is it to be considered as an offer to sell or solicitation to buy
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