Key Indices
Top Stories
Economics | Indonesia's Trade Balance Rebounds in July, But Structural Pressures Persist
- Indonesia's trade surplus recovered to US$0.12b in Jul 26, reversing June's deficit as monthly exports outpaced imports. However, this masks a structural downtrend that started in 3Q25, driven by surging imports. Export growth remained moderate due to weak global demand, while commodity price hikes lagged rising oil costs, worsening the trade balance. The widening deficit pressures the rupiah, while a hawkish Fed could force Bank Indonesia to raise SRBI issuance and increase policy rates.
Small/Mid Cap Highlights | Dharma Satya Nusantara (DSNG IJ/NOT RATED/Rp1,710)
- DSNG operates one of the most productive estate bases among listed Indonesian planters and remains constructive on 2H26, supported by firm production and favourable CPO price trends. Consensus projects full-year profit growth of 27% (+9.4% in 1H26). GAPKI expects El Niño to cut industry production by 8-10% in 2027, though the company expects firm CPO prices to cushion the impact. It trades at just 8x 2026F consensus PE (vs regional average of ~15x) and Rp184m/ha (US$10,400/ha).
Technical Analysis
Bumi Resources | BUMI IJ
- Trading Buy Range: We have a technical Buy at Rp204, and take profit at Rp216.
Petrindo Jaya Kreasi | CUAN IJ
- Trading Buy Range: We have a technical Buy at Rp900, and take profit at Rp965.
Top Stories
Economics | Indonesia's Trade Balance Rebounds in July, But Structural Pressures Persist
- Indonesia's trade surplus recovered to US$0.12b in Jul 26, reversing June's deficit as monthly exports outpaced imports. However, this masks a structural downtrend that started in 3Q25, driven by surging imports. Export growth remained moderate due to weak global demand, while commodity price hikes lagged rising oil costs, worsening the trade balance. The widening deficit pressures the rupiah, while a hawkish Fed could force Bank Indonesia to raise SRBI issuance and increase policy rates.
Small/Mid Cap Highlights | Dharma Satya Nusantara (DSNG IJ/NOT RATED/Rp1,710)
- DSNG operates one of the most productive estate bases among listed Indonesian planters and remains constructive on 2H26, supported by firm production and favourable CPO price trends. Consensus projects full-year profit growth of 27% (+9.4% in 1H26). GAPKI expects El Niño to cut industry production by 8-10% in 2027, though the company expects firm CPO prices to cushion the impact. It trades at just 8x 2026F consensus PE (vs regional average of ~15x) and Rp184m/ha (US$10,400/ha).
Technical Analysis
Bumi Resources | BUMI IJ
- Trading Buy Range: We have a technical Buy at Rp204, and take profit at Rp216.
Petrindo Jaya Kreasi | CUAN IJ
- Trading Buy Range: We have a technical Buy at Rp900, and take profit at Rp965.
Key Indices
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