Weekly Report | Gold Bug

Lower-than-estimate March’s JOLTs Job Opening is most likely to subdue the Dow Jones. The bearish Dow and the grim prospect of March’s forex reserves navigate JCI’s trend in this week. The unprecedented global economy dysfunction curtails the rupiah as worried investors rush into gold as a typical hedge or haven. We pencil in the gold-rush momentum proves a boon for ANTM. NHKSI recommends ANTM as this week’s top-pick stock estimated to hit price target of IDR1,100 based on a 26.1x P/E trailing band.

Daily Report | ADB Projects Indonesia Economic Growth of 2.5%

The Dow Jones dipped 1.69 percent to 21,052 as March’s NFP plummeted to 701,000 and unemployment soared to 4.4% from 3.5%—all-time high since August 2017. Back to the domestic backdrop, ADB projected Indonesia’s 2020 economy to pace at 2.5% curtailed by downbeat domestic demands and soft consumption & business activities.

Daily Report | Indonesia PMI Tanks in March

The Dow Jones pointed to a 2.24% gain to close at 21,413 amid the negative impacts of COVID-19 containment by means of the physical distancing. Back to the domestic backdrop, IHS Markit reported Indonesia PMI in March 2020 to stand at 45.3.

Daily Report | March Inflation Slides

Dow Jones dropped 4.44% to 20,943 after Trump warned two “agonizing” weeks of COVID-19 spread. Meanwhile, Statistics Indonesia released March 2020 inflation of 0.1% more benign than 0.28% in Feb.

Daily Report | Investors Anticipate Inflation Reading

The Dow Jones dropped 1.84% to 21,917 and recorded the sharpest quarterly declines since 1987 whilst S&P 500 on a quarterly basis plunged to the deepest since the financial crisis. Meanwhile, BI estimates March 2020 inflation to stand at 0.13% m-m or 3% y-y, driven by gold jewelry and shallot.

Daily Report | OJK Unwinds Stimulus

The Dow Jones surged 3.19% to 22,327 due to the rally in Merck & Co (+ 7.28%) and Johnson & Johnson (+8.00%). The US government to extend the physical distancing regulation until April 2020 was a potent driver for the Dow Jones. In the domestic realm, OJK unwinds stimulus and holds accommodative policies for the pension fund to uphold financial system stability and economic growth amid the virus lethal threats.

Weekly Report | E-Learning and WFH Are Opportune for Telecommunication Industry

The spread of COVID-19 is vicious and rapid as the death and infected cases mount. But, the equity market is likely to remain optimistic as the US senate agreed on unwinding economic aid measures of USD2 trillion to ease economic and health crises caused by the pandemic. We recommend TLKM as the mandatory online learning and work from homes until April will boost demand for traffic data.

Daily Report | Economic Measures Spur Market

The Dow Jones fell 4.06% to 21,636 as US is blown by the most severe cases of COVID-19. In the domestic real, volatility threats markets to dysfunction, and the extent of less volatility depends on the government’s measures and backstop to contain the virus.