31 Jan 25

Market Review and Prediction

The Wall Street indices closed higher after a volatile trading session. The market digested earnings reports from several major tech companies, including Meta Platforms, Tesla, and Microsoft. However, gains were trimmed following President Trump's announcement of planned tariffs on goods imported from Canada and Mexico. Additionally, lower-than-expected U.S. economic growth data weighed on sentiment. The U.S. GDP grew by 2.3% in Q4 2024, falling short of the 2.5% estimate. For the full year 2024, the GDP growth was 2.8%, compare to 2.9% in 2023. Gold prices strengthened on increased demand for safe-haven assets, despite a stronger U.S. dollar due to the tariff threat.

The JCI closed 1.29% lower at 7073 on Thursday, January 30, 2025. The basic materials sector recorded the largest decline, while the technology sector posted the biggest gains. Foreign investors recorded a net sell of Rp397.7 billion, including non-regular markets. Today's JCI is expected to trade within the support range of 7030/6970 and resistance range of 7100/7130. Stock picks: BBNI, BRIS, JPFA, INDF, AADI, PTRO, BRPT, SCMA.


NEWS:
• AMOR will distribute an interim dividend of Rp14/share, cum date February 7, 2025.
• SMLE expands its business activities into the pharmaceutical sector.
• WIFI secures a syndicated loan of Rp978 billion from BBNI to build a public internet network.
• BUKK establishes a new subsidiary in India with 85% ownership.
• Axiata Group, the parent company of EXCL, and Sinar Mas Group, the parent company of FREN, have officially signed an MoU to explore and enhance several strategic collaborations following their merger.


Disclaimer:
This report is prepared strictly for private circulation only to clients of PT Waterfront Sekuritas Indonesia. It is purposed only to person having professional experience in matters relating to investments. The information contained in this report has been taken from sources which we deem reliable. No warranty (express or implied) is made to the accuracy or completeness of the information. All opinions and estimates included in this report constitute our judgments as of this date, without regards to its fairness, and are subject to change without notice. However, none of PT Waterfront Sekuritas Indonesia and/or its affiliated companies and/or their respective employees and/or agents makes any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof. We expressly disclaim any responsibility or liability (express or implied), its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT Waterfront Sekuritas Indonesia, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. This document is not an offer to sell or a solicitation to buy any securities. This firms and its affiliates and their officers and employees may have a position, make markets, act as principal or engage in transaction in securities or related investments of any company mentioned herein, may perform services for or solicit business from any company mentioned herein, and may have acted upon or used any of the recommendations herein before they have been provided to you. © PT Waterfront Sekuritas Indonesia 2025
Published on 2025-01-31 07:44:45 (GMT +7)

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