Total incoming bids in Tuesday’s bond auction remained solid, reaching Rp61.5tn (vs. Rp76.8tn bids in the previous auction and Rp23tn initial target), despite rising geopolitics volatility. It was also in line with our incoming bid forecasts of Rp59tn-69tn. As we expected, escalating geopolitics in Ukraine and worries over hawkish Fed might have decelerated foreign investors’ […]
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Daily Commentary (17-Feb): Mixed INDOGB, with Longer Tenors Up; 2021 Current Account Balance Expects Surplus
On Wednesday, INDOGB was mixed, while the JCI and rupiah against USD fell after two days of sharp increase. The JCI fell 0.2% to 6,835.1 (+3.1% MTD or +3.9% YTD), but foreign investors kept reporting net inflow, reaching Rp649.6bn (inflow of Rp12.3tn MTD or +Rp18.4tn YTD). Asian equity indices also closed mixed as investors continued […]
ID Cement – Strong Start To The Year
Ryan SANTOSO, Fauzan DJAMAL, Andrey WIJAYA – RHB Sekuritas ♦️ Domestic cement sales increased by 8% YoY (-8.4% MoM) to 5.3m tonnes in January. The lower MoM sales volume was attributable to the rainy season’s seasonality. Bulk cement sales increased 16.1% YoY, compared to a low base last year due to people movement restrictions (PSBB). […]
HEAL IJ: Conference Call KTA; Maintain BUY
Vanessa Karmajaya, Michael Setjoadi – RHB Sekuritas Link to report: https://bit.ly/3rTNqq8 ♦️ Management guided for flat revenue growth and 28-30% EBITDA margins in 2022, given minimal contributions from COVID-19 cases – largely in line with our assumptions. HEAL aims to open 3-4 hospitals nationwide annually and is considering a number of hospitals for acquisition targets. […]
Transaksi di Bursa Saham Kena Bea Meterai Rp 10.000 Mulai 1 Maret 2022?
KONTAN.CO.ID – JAKARTA. Penetapan bea meterai Rp 10.000 untuk transaksi efek di bursa mulai terdengar lagi. Kabarnya, sudah ada perusahaan sekuritas yang memberi pengumuman kepada nasabah untuk kebijakan baru ini. Dalam pengumuman lewat surel tersebut, perusahaan sekuritas itu menyebut, terhitung tanggal 1 Oktober 2021, maka trade confirmation yang diterima nasabah melalui e-mail sebagai dokumen elektronik merupakan obyek pengenaan bea […]
Morning Update 18 Feb 2022
Good morning, Dow drops more than 600 points in worst decline of 2022 as Russia-Ukraine tensions worry investors Stocks slumped Thursday amid heightened tensions between Russia and Ukraine with confused investors dumping risky assets and rotating into bonds. The Dow Jones Industrial Average posted its worst daily performance of the year on a points and […]
Astra International (ASII, Maintain BUY, TP IDR 8,100) – Seasonally lower car sales in Jan22
(Ignatius T. Prayoga – BRI DS) – Gaikindo reported domestic car sales of 87,783 units in Jan22 (-9.2%mom, 65.9%yoy). – The market share of ASII decreased to 50.7% in Jan22 compared to 53.1% in previous month mainly due to decrease of Toyota car sales (-30.0%mom), but still supported by Daihatsu car sales improvement (+16.0%mom). We […]
Key Takeaways of FOMC Jan Minutes Meeting
(Helmy Kristanto – BRIDS) 1. Inflation risk continue to rise on the upside, and coupled with strong labour market, an increase in rate would soon be appropriate, with expectation of rate hike in the next FOMC meeting (15-16 March). Moreover, if the inflation remain elevated, Fed will remove policy accommodation at a faster pace.2. Rate hike will […]
IPO Bond Update
IPO Bond Update – February 2022 Penawaran Umum Obligasi Berkelanjutan IV Indomobil Finance Tahap III Tahun 2022 Rating : idA by Pefindo Target size : IDR 750 Bio Indicatives : 370 Days at 4.75% – 5.50% 3 Years at 6.00% – 7.00% 5 Years at 7.00% – 8.00% Bookbuilding Period : 17 Feb – 04 […]
Daily Fixed Income Research (26 Aug 2021)
Long-Duration INDOGB Rallies the Most; July Budget Realization indicate ongoing economic recovery INDOGB and JCI continued up on foreign inflows, but the rupiah fell slightly against the USD on Wednesday. The JCI rose 0.4% to 6,113.2 (+0.7% MTD or +2.2% YTD), with foreign reporting net inflow of Rp789bn (net inflow of Rp3.2tn MTD or Rp20.9tn […]
