JCI seen higher on positive note from Wall Street
JAKARTA (TheInsiderStories) - The Indonesian stock market is expected to move up in positive zone today with gains in Wall Street overnight and 2015 earnings release are expected to weigh on domestic market, analysts say.
Overnight, US stocks closed higher, led by gains in tech stocks after Fed Chairperson Janet Yellen said it is appropriate for policymakers to proceed cautiously’.
On Tuesday, the Jakarta Composite Index (JCI) closed up 7.671 points or up 0.16 percent at 4,781.297 points, while the LQ45 Index ended up 1.772 points or up 0.21 percent at 829.315. Gainers led decliners 146 to 144, with 93 stocks unchanged.
Six sectoral indexes recorded gains including consumer goods (up 1.58 percent), while four sectors declined including miscellaneus sector.
Daiwa-Bahana Securities noted in its morning notes that some companies have released 2015 results which are in line with their forecast such as ICBP, INDF and SRIL.
The news on the government’s new economic packages may also triggered buying interest in selected stocks.
Following is Daiwa-Bahana’s Morning Note
TODAY’S NEWS
POLITICS
- Amnesty done deal with strings attached
- Golkar chairmanship race heats up
ECONOMICS
- Pertamina: Eliminating Pertamax Plus; Proposing up to IDR400/liter price cut
- Govt: To cut the state budget’s oil assumption to USD40/bl
INDUSTRY
- Telecommunications: Government officially recalculates interconnection tariff
- Mobile-based transportation services have two months to obtain permits
- Coal: Scotland decides to go for gas and wind to provide the country’s electricity supply
- Banking: Himbara hints at calling off Artajasa acquisition plan
CORPORATE
- ICBP 4Q15 results: In line
- INDF 4Q15 results: In line with consensus’ expectation
- SRIL 4Q15 results: Roughly in line with ours, but higher than consensus’ estimate
- TOTL: 4Q15 net profit lower than ours but in line with consensus’ estimate
- Mitratel budgets IDR2.2tn for tower expansion
- ISAT to launch “eMagic”
- ADRO targets 2 coal-fired power-plant projects with 5k MW capacity
- PGAS expects 8 cargo vessels for Lampung FSRU
- LPKR appoints new directors, distributes IDR80bn in dividends
- CTRA appointed Boksalis to develop its reclamation project in Makassar
- Jakarta’s LRT groundbreaking in April 2016; Jakarta’s MRT to operate in 2019
- WIKA to fund IDR4tn HSR project
- HMSP sees higher cigarette sales
(*)