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00:00Thank you for joining us at MarketBuzz and now we will talk about the economic agenda from Asia,
00:10there is the South Korean producer price index, then from Japan there is the Japanese IHK Inti,
00:16and also from China there is data about China's GDP since January,
00:20I am Jiro Onir, the third president, and there is also data about the Hong Kong IHK and also the Malaysian IHK.
00:28Then from Europe, there is Pidato, the head of Central Bank of Europe, Christine Lagarde.
00:38The E-10 agenda is interesting for us to discuss, there is MAHA, then there is also BBS,
00:43JPFA, Ex-Dividend Tunai, MFIN, KUM, Bonus Stocks.
00:48And we will see the opening of the main Asian exchanges this morning,
00:52we can see on the television screen for the main Asian exchanges this morning,
00:57KOMPAC opened weakly, with Nikkei weakened by 1.4%, at level 38,365.
01:04Then Singapore's SDI opened weakly, 0.41%, at level 3,599.
01:10Let's take a look at the Asian exchanges.
01:13Then Korea's KOSPI opened weakly, 1.4%, at level 2,568.
01:22And also Hong Kong's Hang Seng opened weakly, 0.22%, at level 20,433.
01:43Yes, we are sorry for the data error that we have shown for the main Asian exchanges at the opening this morning.
01:52I have delivered the correct data verbally.
01:56And right now we are in contact with Mr. Mohamad Nafan Adjigusta,
02:02Senior Market Analyst, Mirai Asset Security Indonesia.
02:06Good morning, Mr. Nafan.
02:08Good morning, Mr. Wiki. Good morning, Mr. D'Action.
02:12Thank you, Mr. Nafan, for joining us in Market Plus.
02:15If we talk about the development of the domestic market,
02:18during the Cabinet's interview yesterday,
02:21when President Subianto was interviewed,
02:24and now we know that there are ministers who are in charge,
02:28especially for the Minister of Economy.
02:30What is the attitude of the market players, Mr. Nafan?
02:34Yes, indeed. Actually, I admit that in the team of Prabowo Gibran,
02:39there are faces that are not so foreign in the economic team.
02:44For example, there is Mrs. Sri Mulyani, who is again appointed as Minister of Finance.
02:49Then there are also several other officials.
02:52For example, there is Mr. Relanggar Tartu,
02:54then there is also Mr. Erick Nohir,
02:57here there is also Mr. Bahillah Aliyah.
02:59All of them are in charge of the same ministerial position.
03:05But on the other hand,
03:08this actually indicates that the symbol of continuity
03:11in the formation of the Indonesian economic team is still strong.
03:15So this automatically, if I think about it,
03:19also gives a positive catalyst for the strengthening of the ISG.
03:24If I look at it technically,
03:26the strength is only 0.16%.
03:30It could be that this also underlines
03:33that the challenges of the future Indonesian economy are indeed relatively large.
03:39For example, there is an impact from the global economy
03:43that is indeed more difficult to predict.
03:46Because this causes volatility,
03:49both in the exchange rate, for example,
03:52and there is also an expectation
03:55related to the policy of decreasing the rate of inflation
03:58is only done in a moderate way,
04:01not too aggressive.
04:04Then on the other hand,
04:06if I observe,
04:08indeed for the future to achieve significant economic growth,
04:13for example above 6% to 8%,
04:15it does need a big challenge.
04:18Indeed, because if we look at the MSD Board Bank,
04:21the projection is around 5%.
04:24Then on the other hand, there is also a factor
04:27related to economic growth,
04:29which must include a strong fiscal.
04:32But at the moment, the fiscal is relatively limited.
04:35So there are also tasks.
04:37Not to mention the job market.
04:40The job market also has to compensate for the future.
04:46This is also included in the PR.
04:48Even in terms of energy and so on,
04:51it is also a task for the future economic team
04:56to realize how, for example,
04:59the development of the new economic power engine
05:02can be expanded,
05:04so that it can maximize the future economic growth
05:06can be above 5%.
05:08Okay, that this is a positive attitude by the market players,
05:10yes, but not as significant as we imagine.
05:13But at least this is a good gesture
05:16by the market players,
05:18on behalf of President Prabu Subianto,
05:20then on behalf of Ministers, Deputy Ministers,
05:22and also Ministers and Ministers alike.
05:27Okay, now because the future is already there,
05:31all we have to do is to launch various strategies
05:33to take advantage of the APBN that has been locked
05:35and is ready to be absorbed.
05:38If we look at the MBTN,
05:41or maybe sectors that will benefit
05:45and will benefit, Mr. Anavan, what are the sectors?
05:49Okay, if we observe that in the planning of the APBN in 2025,
05:53the country's spending will increase by 5.9%,
05:56then the country's income will also increase by 6.9%.
06:02In addition, the APBN deficit will also be lower
06:07compared to this year, which was reduced by 2.7%.
06:10At least in 2025, it was reduced by 2.5%.
06:14And of course, this APBN is also allocated
06:17for infrastructure spending,
06:19as well as social health,
06:21and also for education.
06:25If we look from the infrastructure side,
06:29of course, this will have a positive impact
06:32on the MBTN based on infrastructure.
06:35If we look at the benchmark,
06:38the infrastructure sector is improving.
06:45We see, for example, in the work of WIKA and PTPP,
06:51it has also been able to break out
06:56from other major downtrends.
06:58So, there is a potential for an uptrend in the future.
07:05And on the other hand, the development of infrastructure,
07:08if I say, for example,
07:11to develop a new economic growth engine,
07:14the development of the capital city must also continue.
07:18It must continue.
07:20That is very essential.
07:23And one more thing,
07:25if we look at social health, education,
07:28I think the MBTN that can really benefit
07:33is related to free food programs that are needed.
07:38So, in that way, it will certainly benefit
07:42Samsung based on non-cyclic calls.
07:45But if we look at it, it has actually been priced in
07:48from the fact that the strengthening factor
07:51or the uptrend from Samsung is related.
07:53For example, there is Indofood, ICBP, Mayora.
07:56If we look at it, it does tend to be an uptrend.
08:00So, like that.
08:02Even the movement may have been felt before,
08:04then Prabowo Subianto was also appointed like that.
08:06Evaluated as sectors that will gain benefits
08:09or maybe get benefits behind programs
08:13that are prioritized by the government.
08:15Another thing that is also quite interesting,
08:17Mr. Nafal is related to the gold price update.
08:19This is related to the movement of Antam itself,
08:21which released 4% and became the top number one net buy
08:25foreign on Monday, worth 116 billion rupiah.
08:29Is this only a gold price factor?
08:33How about other factors?
08:35And actually, if you want to chip in or want to collect Antam shares,
08:40what do you think the valuation is like now?
08:42Is it already expensive or not?
08:43Okay, here, if I look at it in terms of PIBN,
08:47it's already above fairly valued for Antam for now.
08:52Technically, actually, the price movement
08:56is already within the highest price target.
08:59Because it has tested the highest limit
09:01from Right Angle Ascending Broadening Wage Pattern.
09:04It's about at level 1,680.
09:07This is already at level 1,690.
09:11Then on the other hand, I also see that the RSI is indeed overbought.
09:15I admit that it is overbought.
09:17Actually, the increase in Antam share price
09:19has already been priced in from the dynamic,
09:24all-time high of the XAUSD price movement,
09:28or the world market price.
09:30Where for now, the world market price has become
09:33an all-time high of around 2,740.
09:382,740.
09:41For example, if I look at the theoretical target of this gold price futures,
09:47it is already within the target.
09:50Actually, it will approach the theoretical target from the up-channel.
09:53From the up-channel that has been formed.
09:55If the resistance is around 2,770.
09:58Now, I respect the fact that the gold price has been increased
10:02because there are two important factors.
10:04The first is related to the dynamics, policy,
10:08or expansion monitor policy implemented by the Fed in the future.
10:13According to the summary of economic projection,
10:15if we can see from the Fed's median,
10:19median ticket and Fed's fund rate projection,
10:22until 2026,
10:25the Bunga Acuan tribe will continue to do so.
10:28On the other hand, there are other factors related to geopolitical risk escalation,
10:34especially in the central region.
10:36That also causes an increase in the price of gold as an asset that is safe haven.
10:43If we look at the next target,
10:45the gold price can reach USD 2,900 per ounce.
10:49At this time, this is one thing that can trigger the price of gold itself.
10:55Even though there is already an overbought,
10:57but if we look at the projection of gold price itself,
11:00which can reach the next new level,
11:03most likely there will be a potential upsell for gold itself.
11:06The last level is at USD 1,690.
11:08Within one week, it has already reached 5.63%.
11:12If you want to enter,
11:13what is the target price for you to follow the movement of the price of gold itself, Mr. Nafan?
11:20Okay, here, fortunately, it happened in 2025 for that target.
11:28Moreover, before that, Robert Kiyosaki also said that
11:31for the price of gold in the future, it is also projected to reach the level of USD 3,000 per ounce.
11:38Indeed, for that, if I observe from ANTAM,
11:44for example, if the theoretical target of the broadening wedge pattern has been achieved well,
11:52how can ANTAM touch the major peak,
11:58where the peak is at level 1845,
12:02which happened in April 2024,
12:06whether it can be achieved or not,
12:09there must be a chance for it to be achieved.
12:12So, if there is such a thing,
12:14the rounding bottom pattern formation will be formed perfectly for ANTAM.
12:21Until the end of the year, what do you think is the level for ANTAM?
12:26Actually, the ideal is at 1845,
12:31so the rounding bottom can be achieved.
12:33So, it is also the all-time high in 2024 that has been achieved.
12:39Okay, it means that it has reached the all-time high level.
12:43But we see, following the movement of the world market,
12:47will ANTAM's price also reach the new level?
12:51Okay, Mr. Nafan, we will take a break.
12:53Before we take a break, we will show you again the data from the opening of Asian major exchanges this morning.
12:59As you can see on the television screen.
13:02For Nikkei 225, it was opened at a loss of 1.46% at level 38,385.
13:08Singapore's SDI was opened at a loss of 0.41% at level 3,599.
13:13KOSPI Korea was opened at a loss of 1.4% at level 2,568.
13:17And Hong Kong's Hang Seng was opened at a loss of 0.22% at level 20,433.