Key Indices
Top Stories
Sector Update | Consumer
- We see a more tactical risk-reward as share prices have been overly punished, while 1H26 results were better than feared and sentiment is improving as oil prices and the rupiah stabilise. Despite the weak macro backdrop, liquidity is improving as M2 supply is growing faster than last year, coupled with signs of the “lipstick effect,” allowing selective consumer names to outperform. Prefer selective names with solid fundamentals amid macro uncertainty. Maintain MARKET WEIGHT. Top picks: CMRY, ICBP, JPFA, AMRT.
Technical Analysis
Pabrik Kertas Tjiwi Kimia | TKIM IJ
- Trading Buy Range: We have a technical Buy at Rp7,325, and take profit at Rp7,800.
Kalbe Farma | KLBF IJ
- Trading Buy Range: We have a technical Buy at Rp800, and take profit at Rp850.
Top Stories
Sector Update | Consumer
- We see a more tactical risk-reward as share prices have been overly punished, while 1H26 results were better than feared and sentiment is improving as oil prices and the rupiah stabilise. Despite the weak macro backdrop, liquidity is improving as M2 supply is growing faster than last year, coupled with signs of the “lipstick effect,” allowing selective consumer names to outperform. Prefer selective names with solid fundamentals amid macro uncertainty. Maintain MARKET WEIGHT. Top picks: CMRY, ICBP, JPFA, AMRT.
Technical Analysis
Pabrik Kertas Tjiwi Kimia | TKIM IJ
- Trading Buy Range: We have a technical Buy at Rp7,325, and take profit at Rp7,800.
Kalbe Farma | KLBF IJ
- Trading Buy Range: We have a technical Buy at Rp800, and take profit at Rp850.
Key Indices
IMPORTANT NOTICE - DISCLOSURES AND DISCLAIMERS
This report is provided subject to, and must be read together with, the full Disclosures / Disclaimers available at this link, which are incorporated by reference into this report. In particular, this report is intended for general circulation and informational purposes only and does not constitute personal investment advice or a recommendation to buy or sell any investment product or security. You should independently evaluate the information and, where necessary, seek advice from a qualified financial adviser regarding the suitability of any investment. Analyst certifications required under applicable regulations, including SEC Regulation AC (where relevant), are included in this report. By accessing, receiving or using this report, you acknowledge that you have read, understood and agreed to be bound by the Disclosures / Disclaimers, as may be amended, supplemented or updated from time to time.
