This document provides a market outlook and analysis for 2020 from Mirae Asset Sekuritas. It begins with a disclaimer stating that the material cannot be used for investment solicitation and the accuracy of the content cannot be guaranteed. The document then provides an overview of the Indonesian stock market in 2019, top performing sectors, and key stocks. It identifies several positive sectors for 2020 such as consumer, industrial estate, metal mining, and poultry. Finally, it provides end-of-year stock market index targets under base, bull, and bear scenarios for 2020.

1. This material is produced by Mirae Asset Sekuritas and can not be used as an advertisement for investment invitation and can not be distributed to investors. The contents of this
document are based on reliable data and information. We can not guarantee the accuracy or stability. In any case, this report can not be used as evidence of the client's investment
results.
Market Outlook 2020:
Light at the end of the Tunnel
Dani Setiawan
Jan 2020

2. Kilas Balik IDX 2019

7. 15 Top Market Capitalization

8. 30 Top Market Capitalization

9. Net Buy Foreign 2019

10. Net Sell Foreign 2019

11. Net Buy Foreign Dec 2019

12. Net Sell Foreign Dec 2019

17. Sektoral IHSG 4 Top Performance

18. Sektoral IHSG 5 Underperform

19. Sektoral IHSG 3Y

20. Sektoral IHSG 3Y

21. IHSG + 6 Saham Big Cap YTD

22. IHSG + 6 Saham Big Cap 3Y

23. Key Highlight
1. Positive view on JCI with end-of-2020
JCI target of 7,140
2. Earnings growth to recover in 2020
3. More business-friendly environment in
2020
4. Consumer, industrial estate, metal
mining, and poultry to be positive sectors

24. End-of-2020 JCI target
1. Base case scenario:
End-of-2020 JCI of 7,140
2. Bull case scenario:
End-of-2020 JCI of 7,920
3. Bear case scenario:
End-of-2020 JCI of 6,000

38. CPO 10 Y

39. Nickel 10Y

40. GOLD 10Y

41. January 2020

42. Follow: t.me/SastraSaham
More Info:
https://www.miraeasset.co.id/files/bbs/01202/12003_1.pdf
https://www.miraeasset.co.id/files/bbs/01202/12041_1.pdf
https://www.miraeasset.co.id/files/bbs/01202/12023_1.pdf

43. This material is produced by Mirae Asset Sekuritas and can not be used as an advertisement for investment invitation and can not be distributed to investors. The contents of this
document are based on reliable data and information. We can not guarantee the accuracy or stability. In any case, this report can not be used as evidence of the client's investment
results.
Cara Buka Akun Saham Mirae Asset
@danisetiawan.rsa
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