JAKARTA (TheInsiderStories) – The Jakarta Composite Index opened up by 0.1 percent increasing to 6,489.43 on Wednesday (03/20). But at the end of the closing trade, the composite index only edged up 0.04 percent to 6,482.71 from closing of the previous day’ trade.
There were issuers that contribute to this increasing and there were also several corporate actions that occurred in yesterday’ trading.
PT Wahana Interfood Nusantara Tbk (IDX: COCO) posted the sharpest increase, 69.8 percent to Rp336 per share yesterday.
Following the strengthening of the stock, shares of PT Cahayaputra Asa Keramik Tbk (IDX: CAKK), which closed up 35 percent rising to the level of Rp216 per share.
PT Siwani Makmur Tbk (IDX: SIMA) posted the deepest decline in Wednesday’ trading at 24.75 percent to Rp298 (US$0.02) per share. Occupying the next weakest position was the shares of PT Armada Berjaya Trans Tbk (IDX:JAYA) which closed down 18.32 percent to the level of Rp165 per share.
For today some information to be watch are:
PT Mandom Indonesia Tbk (IDX: TCID)
The owners of Gatsby and Pixy Brand, recorded a decrease in net profit of 3.39 percent to Rp173 billion in 2018, after recording a net profit of 10.53 percent to Rp179.13 billion in 2017. The decline occurred because the company’s revenue decreased by 2.13 percent to Rp2.65 trillion in 2018.
PT Vale Indonesia Tbk (IDX: INCO)
The Ministry of State-Owned Enterprises has permitted PT Indonesia Asahan Aluminium to take part in the divestment shares of INCO. However, Inalum and the Ministry of SOE are still waiting for approval from the Ministry of Energy and Mineral Resources first.
PT Pemeringkat Efek Indonesia (Pefindo)
The majority shareholder of PT Pemeringkat Efek Indonesia (Pefindo) acknowledges that there is an international rating agency that is approaching Pefindo to enter as a shareholder. In fact, this institution has submitted a Letter of Intent (LoI) that shows its seriousness. The Managing Director of the Indonesia Stock Exchange (IDX) Inarno Djayadi said the rating agencies that were approaching were Standard & Poor’s, an international rating agency based in the United States of America.
PT Wijaya Karya Tbk (IDX:WIKA)
State-owned developer company’ net profit growth of 43.94 percent on an annual basis in 2018, contributed by revenues of Rp31.15 trillion and cost of revenue of Rp27.55 trillion.
Beside the information above, there are some recommendations for trading on Thursday, March 21, 2019. Binaartha Technical Research recommends PT Astra Agro Lestari Tbk (AALI), PT Erajaya Swasembada Tbk (IDX: ERAA), PT HM Sampoerna Tbk (IDX: HMSP), PT Japfa Comfeed Indonesia Tbk (IDX: JPFA), PT London Sumatera Plantation (IDX: LSIP) and PT Media Nusantara Citra Tbk (IDX: MNCN).
Binaartha also views the composite index will continue to increase in trading on Thursday and reaching the resistance level of 6,499-6,516
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia