JAKARTA (TheInsiderStories) — The Jakarta Composite Index closed in the green zone by 0.26 percent to 6,305.99, on Tuesday (06/11). The increase was not as high as the previous couple of days which could hike more than 1 percent.
Foreign inflow also recorded slowing down at Rp241.49 billion (US$16.89 million). Mining sector grew strongest by 0.64 percent, followed by infrastructure sector at 0.55 percent.
Meanwhile, consumer goods and trade grew 0.53 percent each. For today, the stocks market is predicted to move bearish in a range of 6200-6310, according to Reliance Sekuritas analyst Lanjar Nafi.
PT Hotel Fitra International Tbk (IDX: FITT) stock rocketed 69.6 percent on its first day listed on Indonesia Stock Exchange to Rp173 a share. Furthermore, PT Cahayasakti Investindo Sukses Tbk (IDX: CSIS) grew by 28.4 to Rp104 a piece and PT Kokoh Inti Arebama KOIN increased by 25 percent to Rp330 each.
Although finance sector grew well, PT Intan Baruprana Finance Tbk (IDX: IBFN) and PT Bank Artos Indonesia Tbk (IDX: ARTO) slumped by 19.2 percent to Rp210 each and 14.5 percent to Rp148 a share, respectively. Meanwhile, Lippo-owned PT First Media Tbk (IDX: KBLV) fell by 13.9 percent to Rp420 a piece, after becoming top gainer on the previous day.
PT Cikarang Listrindo Tbk (IDX: POWR)
Standard and Poor’s upgraded Cikarang Listrindo debt securities grade from BB to BB+. Cikarang Listrindo management claimed that it is now the third best private company, after PT Astra International Tbk (IDX: ASII) dan PT Profesional Telekomunikasi Indonesia.
PT United Tractors Tbk (IDX: UNTR)
United Tractors gave Rp280 billion loan for its affiliated company PT Patria Maritime Lines. The loan has JIBOR +0.5 percent interest. It will be used by Patria Maritime Lines for working capital.
PT Hotel Mandarine Regency Tbk (IDX: HOME)
Hotel Mandarine Regency will have 89.8 percent right issue. Company will issue 19.94 billion new shares, aiming more than Rp1 trillion funding for working capital.
PT Communication Cable Systems Indonesia
Initial Public Offering (IPO) of Communication Cable Systems Indonesia tagged price at Rp250 per share. The optical fiber company will release 200 million shares to public and get Rp250 billion funding from the corporate action. It will be officially listed on June 18.
As for today’s recommendations, Nafi said, are PT Malindo Feedmill Tbk (IDX: MAIN), PT Chandra Asri Petrochemical Tbk (IDX: TPIA), PT Gudang Garam Tbk (IDX: GGRM), PT Bank CIMB Niaga Tbk (IDX: BNGA), PT Bank Permata Tbk (IDX: BNLI), PT Timah Tbk (IDX: TINS), PT Medco Energi Internasional Tbk (IDX: MEDC), PT Vale Indonesia Tbk (IDX: INCO), and PT Erajaya Swasembada Tbk (IDX: ERAA) stocks.
May you have a profitable day!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia