Investors focus on Dec. 14, FOMC Meeting Nov. Results price in. More details, FOMC Meeting Nov. which is projected to increase the FFR by +75 bps has been priced in. Investors are also watching the FOMC Meeting Nov. Wednesday local time, which hinted it would slow the pace of the December FFR hike to only +50bps.
Corporate Bonds
MYOR: Recorded a Profit Increase of 10.9%. PT Mayora Indah Tbk (MYOR) throughout 9M22 recorded a net profit attributable to the parent entity owner, amounting to IDR1.08 trillion or up by 10.92% YoY. The cost of Goods Sold increased to IDR17.48 trillion; thus, gross profit was recorded at IDR4.75 trillion or decreased to 6.68% YoY. Additionally, the sales grew by 11.78% to IDR 22.23 trillion. (Emiten News)
Domestic Issue
BI: Predicts Annual Inflation Will Fall to 5.8%. Bank Indonesia (BI) predicts that inflation in October 2022 will stand in the range of 5.8% YoY. This inflation rate is slightly lower than the previous month, which reached 5.95% YoY. Whereas, on a monthly basis, September inflation reached 1.17% MoM. BI itself estimates that food inflation will fall below 10% or a decrease compared to the previous month, which was at 11.9% (Kontan)
Recommendation
Yesterday’s SUN market movement, amid waiting for the release of Indonesia’s inflation data for the October period, is projected to soften (Surv. 0.10% MoM, Vs. Sept. 1.17% MoM), in line with the normalization of a number of food commodity prices, and the impact of a significant increase in subsidized fuel prices. , which has been fully reflected in the September inflation rate. The results of this inflation data will serve as a reference for the BI 7DRR at the BI RDG on 17 November.
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