In today’s briefing:
- Bank Mandiri Persero (BMRI IJ) – Livin’ in Digital World
- Adira Dinamika Multi Finance (ADMF IJ) – Short-term downfall creates an attractive investment op…
- Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- Perusahaan Gas Negara (PGAS IJ) – Operational improvement ahead
Bank Mandiri Persero (BMRI IJ) – Livin’ in Digital World
- Bank Mandiri stands out amongst the top 4 banks in that it has chosen to push its digital services through Livin’ rather than a stand-alone digital bank.
- The bank has already made significant progress with Livin’ with 6m active users out of 30m customers and it is also developing wholesale digital banking through Kopra.
- Bank Mandiri remains a core proxy for the recovery in Indonesian economic recovery with an increasing digital edge and valuations are attractive versus historical levels.
Adira Dinamika Multi Finance (ADMF IJ) – Short-term downfall creates an attractive investment op…
Short-term downfall creates an attractive investment opportunity
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Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets dropped again after with the S&P and Nasdaq down 1% and 1.2%. The latter is down 10% from its November 2021 high. Most sectors were in the red with Consumer Discretionary, Financials and IT down 1.4-1.8%. US 10Y Treasury yields eased 3bp to 1.85%. European markets closed higher with the DAX, CAC and FTSE up 0.2%, 0.6% and 0.4% respectively. Brazil’s Bovespa closed 1.3% higher. In the Middle East, UAE’s ADX and Saudi TASI were up 1.6% and 0.5%. Asian markets have opened broadly higher – HSI, STI and Nikkei were up 1.9%, 0.1% and 0.5% while Shanghai was down 0.2%. US IG CDS spreads were 0.6bp wider and HY CDS spreads were 3.5bp wider, EU Main CDS spreads were 0.1bp tighter and Crossover CDS spreads were 1.7bp tighter. Asia ex-Japan CDS spreads were 4.7bp tighter.
Perusahaan Gas Negara (PGAS IJ) – Operational improvement ahead
Operational improvement ahead
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.
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