External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Cross Asset Strategy

<ul><li>The recent market growth in Indonesia is attributable to the strong IDR and resilient domestic macro trends.</li><li>On the former, we believe that monetary policy has played a major role.</li><li>March's Real Sales Index (RSI) also indicates a robust increase in retail sales, especially on F&amp;B and Clothing.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The recent market growth in Indonesia is attributable to the strong IDR and resilient domestic macro trends.On the former, we believe that monetary policy has played a major role.March's Real Sales Index (RSI) also indicates a robust increase in retail sales, especially on F&amp;B and Clothing.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Macro and Flows Tracker: Currency Strength Boosts Flows

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>Riding the boom in energy prices, Indonesia had twin surpluses in 1H2022: a fiscal surplus of 0.9% of GDP and a BoP current account surplus of 0.6% of GDP.</li>
<li>After last week's policy rate hike, real interest rates are close to positive. Fiscal strength allows the government to boost spending to counter the OECD recession over the next year.</li>
<li>We expect real GDP growth of 6%YoY in 2H2022, and 6.3% in 2023. With nominal GDP surging nearly 15%, EPS will be resurgent and valuations attractive. Overweight Indonesia.  </li>
</ul>


Riding the boom in energy prices, Indonesia had twin surpluses in 1H2022: a fiscal surplus of 0.9% of GDP and a BoP current account surplus of 0.6% of GDP.
After last week's policy rate hike, real interest rates are close to positive. Fiscal strength allows the government to boost spending to counter the OECD recession over the next year.
We expect real GDP growth of 6%YoY in 2H2022, and 6.3% in 2023. With nominal GDP surging nearly 15%, EPS will be resurgent and valuations attractive. Overweight Indonesia.  


Indonesia: Set to Accelerate Amid the OECD Recession, Helped by Twin Surpluses

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Jakarta Stock Exchange Composite Index / Technical Analysis

<ul>
<li>Hiding spots that are coming under pressure -  Indonesia's JKSE just cracked key support that makes the USD/IDR one of the last holdouts to see a big USD move.</li>
<li>USD/IDR bull triangle breakout unfolding with risk of a big USD short squeeze.</li>
<li>USD/MYR break above 4.50 would increase odds of devaluation and a more painful USD move in Asian FX. A huge pivot level to watch.</li>
</ul>


Hiding spots that are coming under pressure -  Indonesia's JKSE just cracked key support that makes the USD/IDR one of the last holdouts to see a big USD move.
USD/IDR bull triangle breakout unfolding with risk of a big USD short squeeze.
USD/MYR break above 4.50 would increase odds of devaluation and a more painful USD move in Asian FX. A huge pivot level to watch.


Indonesia the Latest Safe Haven to Buckle with KLSE in Pursuit

Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

<ul>
<li>Financial markets are dominated by uncertainties being created by Russia's invasion of Ukraine and the potential economic impact of the Fed raising rates and unwinding its balance sheet simultaneously.</li>
<li>The volatility and level of rates in EM are rising with the US but with differentiation: Asia and Central Europe are underperforming, while Latin America is outperforming.</li>
<li>The possibility of binary economic scenarios playing out as a result of the current uncertainties makes me pause for more clarity before making new trade recommendations.</li>
</ul>


Financial markets are dominated by uncertainties being created by Russia's invasion of Ukraine and the potential economic impact of the Fed raising rates and unwinding its balance sheet simultaneously.
The volatility and level of rates in EM are rising with the US but with differentiation: Asia and Central Europe are underperforming, while Latin America is outperforming.
The possibility of binary economic scenarios playing out as a result of the current uncertainties makes me pause for more clarity before making new trade recommendations.


Rates in Asia Underperform Following the Fed Hike and Russia’s Invasion

Founder

Olivier Desbarres

Exacting. Excellent. Exceeding. Exemplary.

4X Global Research

4X Global Research was founded in 2017 to provide institutional and corporate clients with the substantive research, high-quality analysis and thoughtful insight on Emerging and G20 economies and financial markets they need to make informed and timely decisions and gain an edge in their investments.

<ul>
<li>Russian invasion of Ukraine on 24 Feb has generated much uncertainty and financial market volatility, including in FX markets. </li>
<li>Some asset prices have moved broadly as “expected”, with Rouble, Euro and global equities down and Dollar,  gold and fossil fuel prices up. </li>
<li>But other asset prices have been range bound in past fortnight, including S&amp;P 500, Treasury yields and a number of Asian currencies, or held their own (AUD and NZD).</li>
</ul>


Russian invasion of Ukraine on 24 Feb has generated much uncertainty and financial market volatility, including in FX markets. 
Some asset prices have moved broadly as “expected”, with Rouble, Euro and global equities down and Dollar,  gold and fossil fuel prices up. 
But other asset prices have been range bound in past fortnight, including S&amp;P 500, Treasury yields and a number of Asian currencies, or held their own (AUD and NZD).


Indonesia

The Indonesian rupiah is the official currency of the Republic of Indonesia. 

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Macro and Flows Tracker: Currency Strength Boosts Flows

BRI Danareksa Sekuritas Equity Snapshot - April 17,2023Content is external broker report sourced from online content aggregator through publicly...

BRI Danareksa Research

Indonesia: Set to Accelerate Amid the OECD Recession, Helped by Twin Surpluses

With a BoPCA surplus of 0.6% & fiscal surplus of 0.9% of GDP in 1H2022, Indonesia is able to provide a big fiscal stimulus over the next year. EPS...

Prasenjit K. Basu

Indonesia the Latest Safe Haven to Buckle with KLSE in Pursuit

Hiding spots that are coming under pressure - Indonesia's JKSE just cracked key support that makes the USD/IDR one of the last holdouts to see a...

Thomas Schroeder

Rates in Asia Underperform Following the Fed Hike and Russia’s Invasion

With financial markets dominated by uncertainties created by Fed tightening and Russia's invasion, rates in Asia and Central Europe are...

Gautam Jain, PhD, CFA

Market Snapshot, Theatre of War

Amidst carnage in financial markets, some assets - inc US Treasury yields, some Asian and high-yielding EM currencies, AUD & NZD and even S&P 500 -...

Olivier Desbarres

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