Markets differently responded to economic re-opening in a number of countries based on declining cases of COVID-19. Jakarta as the capital of Indonesia should end PSBB on May 22, 2020, but it is prolonged until June 4, 2020. The declining COVID-19 cases and looser PSBB will build investors’ optimism as the economic reopening will stimulate credit growth in Indonesia. The declining trend in interest rates along with the lower trend of KPR and KPA’s interest rates to boost consumers’ consumption of property assets. The pandemic is one of the biggest challenges faced by the property sector to grow as the mandatory PSBB hampers companies’ marketing. CTRA puts strategies of applying online launching to maintain sales performance. It is proven that such scheme is capable of boosting 1Q20’s marketing sales by 2.7%. Thus, we recommend CTRA as this week’s top stock pick with the price target of IDR830 at a 87% discount to RNAV.

Weekly’s Top Stock Pick: CTRA
Support : 460
Resistance : 550

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