The Insider Stories Market Briefs

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JAKARTA (The Insider Stories) – Here’s some market news compiled by Mandiri Sekuritas that that may affect shares trading today:

*Rubber prices closed sharply lower in trading on Wednesday. Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, closed slumped 2.79% or 5.10 points to 178.00 yen per kilogram.

*The movement of crude oil prices prolong the slowdown in Wednesday’s trading. It happened amid investor worries await the release of US inventory data which is authorized after industry data showed the increase in the number of stock unforeseen thus highlighting the continued global surplus.

*The dollar weakened against the yen at the moment the market is waiting for the verdict of the Federal Reserve related to the plan to raise interest rates on Thursday morning GMT. Yesterday, the US dollar index weakened to around 0.04% to 97.657.

*PT MNC Land Tbk (KPIG, Rp1.450) posted a profit increase of 178% by September 2016 despite the company’s revenue fell 14.15%. Gain from sales of shares of PT Plaza Indonesia Realty Tbk (skirting, Rp4,700) became the main contributor to the company’s profitability. MNC Land’s net profit reached Rp591.63 billion. Meanwhile, gains from disposal of associates in this case wishy reached Rp417.43 billion.

*PT MNC Investama Tbk (BHIT, Rp198) managed to record a significant increase in net income. MNC Investama net profit in the third quarter 2016 was recorded at Rp1.52 trillion, or about 316%. The company’s net profit in the third quarter of 2016 recorded Rp462.35 billion from a loss of Rp1.04 trillion in the same quarter a year earlier.

*State-owned mines of PT Timah Tbk (TINS, 950) had a net profit Rp50.65 billion, up to 5x compared to profit in the same period last year (YoY) Rp10.47 billion. In the previous quarter, TINS ​​still a loss because prices dropped. Until Sep16, the company recorded revenues Rp4.68 trillion, down 8.98% YoY.

*PT Express Transindo Utama Tbk (TAXI, Rp169) Rp81.8 billion loss recorded in the first 9 months of 2016 (9M16) or period of the year which ended on September 30, 2016. In fact, in the same period the previous year the company still posted a profit of Rp11.07 billion.

*Indonesia government is currently targeting that Indonesia will be one of the countries second largest stainless steel producer in the world. To achieve this target, foreign investors had been intending to go to Indonesia, one of which is China.

*PT Dharma Satya Nusantara Tbk (DSNG, Rp444) recorded net sales in the third quarter of 2016 amounted Rp2.64 trillion, down 19.9% ​​compared to the same period last year. The decline in net sales due to lower production of CPO as the continued impact of the El Niño that occurred recently. (*)

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Source: The Insiderstories
The Insider Stories Market Briefs

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