It’s time to buy cheap bluechip shares, say securities analysts

first_imgBluechip stocks on the Indonesia Stock Exchange (IDX) have lost hundreds of trillions of rupiah of their value as the share prices fell to a historic low level as investors dumped their shares during a recent market rout, the exchange’s data indicates.Between March 16 and 20, prices of most bluechip shares, also called big cap stocks, have fallen, such as Bank Central Asia Tbk (BCA) by13.99 percent, Telekomunikasi Indonesia Persero Tbk (Telkom) by 8.86 percent, Unilever Indonesia Tbk by 10.75 percent and PT Astra International Tbk by 17.65 percent.Within the same period, the Jakarta Composite Index (JCI), the main gauge of the IDX, had declined by 10.57 percent. It saw its lowest point on Thursday at 4,105.42, the lowest seen since October 2015. This month alone, the JCI has lost 20 percent. “The JCI has dropped significantly during the past several days as investors are worried that COVID-19 would significantly reduce business activities in the country,” Mirae Asset Sekuritas Indonesia’s head of research, Hariyanto Wijaya, wrote in his market commentary on Friday, explaining how the worry over the COVID-19 coronavirus pandemic was the main factor causing the market rout.If based on their performances since the start of the year, the fall in prices of bluechip shares reached more than 45 percent. BCA’s share price has dropped by 29.22 percent year-to-date (YTD), Telkom by 26.24 percent, Unilever Indonesia by 27.19 percent and Astra International by 45 percent.Read also: Indonesian stocks record first rally in week after series of suspensionsAnugerah Mega Investama director Hans Kwee wrote in a statement said that the price falls were more caused by negative sentiments resulting from noneconomic factors rather than by fundamental factors like their business performances. “The decision to buy and sell is often not based on fundamental factors. Investors often sold their shares following other investors’ actions and the market trend,” Hans wrote in an article in a column on Tuesday.Bluechip shares have suffered a great loss in their value more because of herd behavior than their fundamental condition, he said.According to the IDX 2019 annual statistics, BCA recorded a market capitalization of Rp 815.85 trillion at the end of 2019. As of Friday, its market capitalization stood at Rp 583.7 trillion, which means that its value went down by about Rp 232.15 trillion in the span of a few months.The majority of BCA shares, 54.94 percent of them, are owned by its subsidiary company, PT Dwimuria Investama Andalan, which is owned by the Hartono brothers, Robert Budi Hartono and Michael Bambang Hartono.Based on the Bloomberg Billionaires Index, the Hartono brothers, who are among the top 150 of the world’s richest people, have lost a total of US$14.73 billion year-to-date, with BCA’s loss of trillions of rupiah contributing to their decline in wealth.Telkom’s market capitalization fell to Rp 285.30 trillion on Friday from Rp 393. 28 trillion at the end of 2019. As up to 52 percent of Telkom shares are owned by the government, it means the value of the government’s holdings in Telkomsel have dropped by Rp 111.98 trillion year to date.Read also: Rupiah at weakest since 1998 crisis as foreign investors pull out amid virus fearsOn the upside of the significant falls bluechip shares are experiencing, this provides investors with an opportunity to buy the stocks at low prices, as noted by Bank Negara Indonesia (BNI) Sekuritas head of research Kim Kwie Sjamsudin.“I think this is the time to start buying bluechip stocks because I think the valuation is attractive,” Kim told The Jakarta Post on Friday.Mandiri Investasi deputy chief information officer Aldo Perkasa also explained during his keynote speech in an event earlier this month that the current market condition was attractive for investors to start their “building position”.“If we are talking about mid-to-long-term investment, it is an attractive level to start accumulating [stocks],” Aldo said, adding that today’s investors would have to “embrace that volatility has become part of investment these days”.On Friday, Indonesian stocks rallied upward for the first time in the past week and several bluechip stocks had entered the green zone, while others stayed in the red.Unilever Indonesia rose 10.18 percent from the previous trading day to Rp 6,225, while Astra International slid 2.07 percent to Rp 3,780 at the closing of Friday’s trading. (ydp)Topics :last_img read more

Chicago jail reports 450 coronavirus cases among staff, inmates

first_img“Sheriff’s officers and county medical professionals are aggressively working round-the-clock to combat the unprecedented global coronavirus pandemic,” the Cook County Sheriff’s Office said in a written statement on Thursday.Those measures include opening an off-site 500-bed “quarantine and care facility” for prisoners, an effort to move as many inmates as possible from double to single cells, and the opening of a testing site at the jail.”Front line” staff members were being checked for fever at the start of each shift and issued protective equipment if they interact with inmates, according to the sheriff’s department.Across the United States more than 16,600 people have died from COVID-19 and 463,000 positive cases have been confirmed, despite unprecedented “stay-at-home” orders in most states. Some 450 inmates and staff have tested positive for coronavirus at Chicago’s largest jail, county corrections officials said on Thursday, representing one of the nation’s largest outbreaks of the respiratory illness at a single site so far in the pandemic.The surge of cases at Cook County Jail marks the latest flare-up of COVID-19 at jails and prisons in major cities across the United States, where detainees often live in close quarters.The situation gained national attention earlier this week when inmates posted handmade signs pleading for help in the windows of their cells overlooking a public street. In Monroe, Washington, inmates at a minimum-security prison vandalized the facility in a protest on Wednesday evening after officials announced that six prisoners had tested positive for COVID-19, according to Washington state’s Department of Corrections. State and local police and corrections officers quelled the disturbance at the prison 24 miles (39 km) northeast of Seattle using pepper spray, sting balls and rubber pellets, the corrections department said.Despite evidence that the spread of the illness has slowed in the larger US population, a Reuters investigation found that prisons and local lockups have reported an accelerating spread of COVID-19 and have taken a varied approach to protecting the inmates in their charge.Thousands of inmates are being released from detention, in some cases with little or no medical screening to determine if they may be infected by the coronavirus and at risk of spreading it into the community, Reuters found.US Attorney General William Barr declared on Friday that the federal Bureau of Prisons was facing emergency conditions that had prompted the agency to begin releasing more inmates out of custody and into home confinement.Topics :last_img read more

Weekly Update: Touting Economic Development, Supporting Small Business and Job Creation, Urging the Fight Against Opioid Abuse

first_imgWeekly Update: Touting Economic Development, Supporting Small Business and Job Creation, Urging the Fight Against Opioid Abuse Frances and I helped out at Our Daily Bread Soup Kitchen in York this morning – always great to lend a hand in our community.— Governor Tom Wolf (@GovernorTomWolf) August 10, 2017 August 11, 2017 The President’s commission has laid out a robust & reasonable plan. I urge @POTUS to move swiftly to get these recommendations into action.— Governor Tom Wolf (@GovernorTomWolf) August 8, 2017 By: The Office of Governor Tom Wolfcenter_img The Blog, Weekly Update This week, Governor Wolf visited the Almono-Hazelwood Mill 19 site and toured Hazelwood Business District in Pittsburgh. The Almono site is a massive revitalization project in the Hazelwood district that has been made possible with significant state support.On Wednesday, Governor Wolf was in Erie to tour Logistics Plus, Inc., a supply chain management company that announced its plans last month to expand and create new jobs in the City of Erie.Earlier this week, Governor Wolf announced that the Pennsylvania Industrial Development Authority had approved low-interest loans to support seven small business projects across the Commonwealth. On Thursday, the governor announced that COE Distributing will be expanding and consolidating its operations in Fayette County, a move that will create new jobs in the area.On Tuesday, Governor Wolf urged the Trump administration to heed the recommendations of the President’s Commission on Combating Drug Addiction and the Opioid Crisis. “The President’s commission has laid out a robust and reasonable plan for the federal government to be a better partner with states on combating the heroin and opioid crisis,” said Governor Wolf. “I urge President Trump to move swiftly to get these recommendations into action.”Governor Wolf’s Week, August 6 – August 12, 2017Monday, 8/7/17Governor Wolf Announces New Approvals for Low-Interest Loans to Support Seven Small Business ProjectsGovernor Wolf Touts Economic Opportunities of Almono Site and Hazelwood Business DistrictTuesday, 8/8/17Governor Wolf Urges President Trump to Heed Opioid Commission’s RecommendationsWednesday, 8/9/17On ‘Jobs That Pay Tour, Governor Wolf Visits Logistics Plus Inc.Governor Wolf with UE Members Vows to Help Workers and Erie RegionThursday, 8/10/17Governor Wolf Announces COE Distributing to Expand, Moving Operations from Out of State to Fayette CountyHighlights from TwitterDog tethering laws are changing later this month, thanks to the bipartisan efforts to overhaul our animal protection statutes.— Governor Tom Wolf (@GovernorTomWolf) August 10, 2017 Like Governor Tom Wolf on Facebook: SHARE Email Facebook Twitterlast_img read more

Two-year wait on unique pole homes

first_img MORE: Inside the city’s most luxurious apartment projects One-of-a-kind house sold for a record pre-auction 6 Jake Court, Bonogin.The striking design is the work of Gold Coast builder Paul Tidmarsh, of PT Pole Homes, whose distinctive pole homes are highly regarded in Bonogin. The Jake Court residence is the twentieth pole home Mr Tidmarsh has built on the Gold Coast in 15 years, with up to 15 of those in Mudgeeraba Forest. The pole-style home provided a practical and economical solution for the sloping 4327 sqm block, with the elevated, lightweight timber construction eliminating the need for a concrete slab.“To put a 640 sqm house on a sloping block on a slab would be a crazy cost,” said Mr Tidmarsh, who “married into” building pole homes by learning the ropes from father-in-law Jeff Dray. 6 Jake Court, Bonogin.There’s currently a two-year wait for a PT Pole home, with each project taking up to eight months to complete. Materials were moved uphill by hand to the Jake Court site, with raw finishes such as Western red cedar cladding, Southern Beech flooring, an extra long Blackbutt kitchen benchtop and corrugated iron ceilings adding to the rustic appeal of the home. “The good thing about the tin is that once you put it up you don’t have to paint it or maintain it down the track,” Mr Tidmarsh said. “It also ties the inside with the outside.”More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago 6 Jake Court, Bonogin.The project was commissioned by LJ Hooker Robina Group director David Manby and wife Blanche, who purchased the block in April 2019 with a view to building. It’s the second pole home project the Manbys have completed in Mudgeeraba Forest, with a five-bedroom residence at 31 Beau Parade sold in May last year. LJ Hooker Property Hub agents Roberto Scartozzi and Lisa Psaras are leading the campaign to auction on 13 September. 6 Jake Court, Bonogin.Ms Psaras said the concept of an inner-city acreage was highly appealing.“You’re still within 15 minutes from everything in Bonogin – schools, shopping centres, hospital and the M1,” she said.“You’ve then got that hinterland treescape experience. Everybody who has been through the property is blown away by the scope of the home and the setting.” 6 Jake Court, Bonogin.Imagine waking up every day inside your own hinterland hotel. A space where the chatter of native birds is the first sound you hear upon waking while the hum of cicadas takes over as the sun descends behind the trees. Nestled in Mudgeeraba Forest, the inner city acreage known as Carinya is the closest thing to a year-round holiday in the hills. 6 Jake Court, Bonogin.The newly constructed residence has all the appeal of a hotel-style retreat — a spacious master suite enjoys privacy and peace in one wing while at the opposite end, two junior suites and a guest bedroom each have their own ensuites and leafy green views. Open plan living, dining and kitchen zones occupy the heart the home, flowing freely onto expansive timber decks where the surrounding forest makes it feel like your own private sanctuary. Short campaigns hold the heat in the auction arenalast_img read more

ORVC Weekly Report (August 24 – August 29)

first_imgORVC Weekly Report (August 24 – August 29)Players of the Week.Volleyball: Aundrea Cullen-JCDGirls Cross Country: Lanie Nicholson-SRBoys Cross Country: Ben Riehle-MGirls Golf: Kira Wells-SMGirls Soccer: Halle Archer-SCBoys Soccer: Zach Gentile-SRORVC Report(August 24-29)2020Courtesy of ORVC Recorder Travis Calvert.last_img

United form never worried Carrick

first_img Yet even in the depths of that third defeat in six games which had yielded just seven points, Carrick was never tempted to hit the panic button, in much the same way as he is not prepared to state United are back despite the confidence generated by a nine-match unbeaten run in all competitions. “After a shocking start we are not in a bad position,” said Carrick. “We never really got too despondent. We were frustrated with our performances and results but you have to stay patient and trust yourself. “We knew there was a long way to go and there still is.” United defender Phil Jones has suggested some people have been hoping for United to fail, having become jealous of their immense success under Sir Alex Ferguson. However, Carrick does not view it in quite such graphic terms and he feels a portion of the criticism at least was deserved. “You can take it as a compliment because of what we have done over the years,” he said. “When we are not at the top, because of our recent run in the league people are asking questions and criticising. Michael Carrick always trusted Manchester United would bounce back after their “shocking” start to the season. Press Association United’s win over Arsenal at Old Trafford on Sunday meant they went into the international break just five points adrift of the Gunners, who remain at the top of the Barclays Premier League. It is a better position than seemed likely when they were losing at home to West Brom in the middle of September, a result that dropped them into the bottom half of the table. “In some ways it is fair. In others we take it with a pinch of salt. We have to deal with it from within. “A few weeks ago we probably didn’t think we would be in this position as quickly. Now we are not in bad shape, although it is still very early.” After those early season failures to beat Chelsea, Liverpool or Manchester City, Sunday’s result also proves manager David Moyes can eke out positive results against United’s major rivals. That in itself should ease the nerves of those fans who remain uncertain about Moyes being the right man to take on the challenge of replacing Ferguson. But Carrick always felt there would be some period of transition required after such a seismic change. “Obviously with the new manager and new staff coming together and gelling, (defeating Arsenal) helps the feeling within the club,” he said. “It is easy to jump on the bandwagon when we have lost a game or two and people are saying it is all wrong. “We knew that wasn’t the case but this result has put us in a better position and now there is a bit of stability.” Yet Carrick’s withdrawal from the England squad with an Achilles injury does hint at difficulties ahead. Although he seemed happy enough after Sunday’s game, the 32-year-old was limping and there have been rumours he could be set for an extended period on the sidelines. Danny Welbeck is also out of England reckoning as he struggles to overcome a knee problem that has kept him on the sidelines since October 19. And Sunday’s match-winner Robin van Persie will miss Holland’s friendlies against Japan and Colombia in order to rest the toe and groin problems that have troubled him for the past six weeks. In addition, skipper Nemanja Vidic will need to be cleared by United’s medical staff before he can return to duty after suffering concussion in an ugly collision with team-mate David de Gea at the weekend. Moyes will be crossing his fingers none of the absences are extensive because, upon their return to combat, United are faced with three away trips that could shape their season. Encounters with a Cardiff side that have already beaten Manchester City and Tottenham will be a test of their new-found confidence, while a meeting with Bayer Leverkusen will either ease United into the next stage of the Champions League or set up a nervous last-day encounter with Shakhtar Donetsk. last_img read more

Moyes sticks up for Cleverley

first_img Press Association “He is a great trainer. He is first out and every day he does his best in training. “He always gives his best and that is why he will succeed.” Cleverley received the backing of England manager Roy Hodgson, who lashed out at those who had signed the petition. The midfielder did not feature for England in their friendly win over Denmark but he is fit for United’s game against West Brom on Saturday. A letter from Moyes to United season ticket holders came to light on Friday morning. In it, the Scot thanked the fans for their support during what he conceded was a sub-par season. Moyes repeated that message at his pre-match press conference. “We have great support,” he said. David Moyes sprang to the defence of Tom Cleverley after an online petition was launched calling for the Manchester United midfielder to be excluded from England’s World Cup squad. Over 17,000 people have signed the petition, which was set up by Glenn McConnell from Blackpool, who criticised the player’s “inept” performances for United and England. “Tom Cleverley is a fantastic young player who’s developing all the time,” the Manchester United manager said. “The supporters understand the difficult period we are in and they are backing the players. “I believe that the players are working hard for each other. They know they can play better, and they will play better.” Last week’s Capital One Cup final and the international break mean Moyes’ team have been without a match for 11 days. Their last performance was one of the worst of the season. A 2-0 defeat against Olympiacos put Moyes’ men on the brink of elimination from the Champions League. The big gap between fixtures has been both a help and hindrance to the United boss. “It has allowed some players to get games, like Darren Fletcher, Shinji Kagawa and Chicharito (Javier Hernandez), the people who have not featured as much as we would like,” Moyes said. “But certainly it’s also been a hindrance because we went into it off a bad performance and result in Olympiacos and we wanted to put it right much sooner.” United have the advantage of facing a team in a far worse predicament than their own this weekend. West Brom have not won a match since Pepe Mel replaced Steve Clarke as head coach of the midlands club. West Brom were forced to deny speculation that Mel was on the verge of the sack despite only being in the job less than two months. Moyes is sure the Spaniard’s job is not under threat even though the Baggies are just one points above the drop zone. “I’d be very surprised if Pepe Mel is under pressure at this moment,” he said. “I wouldn’t think for one minute that after six games they were (thinking about) bringing in a new manager.” Clarke led West Brom to eighth in the league last season, but he was axed in December following a poor run of form. Moyes admits he was surprised to see his compatriot sacked. “I’m not privy to what goes on at West Brom but I thought he did a great job last year and had them in a lofty position in the Premier League,” Moyes added. “When I was at Everton last year, they were challenging us a lot of the time and he did really well so I’m surprised Steve left. “I’m not aware what has gone on at West Brom but he’s a good manager and proved that in his time at West Brom.” last_img read more

Magpies await Mbemba visa verdict

first_img Press Association A statement on Newcastle’s official website said: ” Following an agreement between Newcastle United and Anderlecht for the transfer of Chancel Mbemba, the player has been in Newcastle and has agreed personal terms with the club and undergone his medical. “The documentation in relation to the club’s application for a governing body endorsement (GBE), required in order for Mbemba to obtain a visa, was submitted to the FA on Wednesday morning (22nd July). “Unfortunately, the FA are unable to consider the club’s application until Thursday of next week (30th July). The FA advised the club they were not able to convene a panel any sooner.” Mbemba is set to join new Magpies signings Georginio Wijnaldum, who arrived from PSV Eindhoven, and former Anderlecht team-mate Aleksandar Mitrovic at St James’ Park this coming season. Newcastle have agreed a deal to sign defender Chancel Mbemba from Anderlecht that hinges on a work permit being granted.center_img The 20-year-old DR Congo international completed his medical in Newcastle and agreed personal terms with the Barclays Premier League club. Mbemba still needs to obtain a visa to complete the deal. last_img read more

Bally primed for Cork contest

first_img Course and distance winner Theos Well steps into handicap company for the first time in the At The Races Handicap Hurdle over two miles. He is on a hat-trick after winning on the Flat in Ballinrobe and his maiden hurdle here, when last seen in July. Pace And Passion swooped late to conquer by a short head in Bellewstown and has prospects off 3lb higher in the (Mares) Handicap Hurdle, particularly with Shane Shortall taking 5lb off her back. Edward O’Grady has booked Barry Geraghty for Clonmel bumper winner Roconga in the Mallow Hospital Maiden Hurdle. This five-year-old gelding has a consistent profile, with a win and three places from his six outings. He ought to go close. The Take A Selfie @ Cork Racecourse Handicap Hurdle has the look of a bookmakers’ benefit to it. Owner JP McManus has a strong hand, though, with Time Please and former course winner Just Call Me. Wllie Mullins took the bumper last year with Bosman Rule and his Grangeclare Rosa is sure to be popular. She is on a recovery mission after finishing third at 11-10 in Bellewstown. Press Association Mags Mullins’s six-year-old mare is comfortably the highest rated of the six runners over timber on a mark of 122. She was a winner over fences at Down Royal in May before coming home second to Steel King in a Roscommon handicap hurdle over this three-mile trip last month. Edith Somerville has 22 rivals to overcome in the Follow Us On Twitter (Mares) Maiden Hurdle but is clearly going the right way after a runner-up finish in Killarney. Davy Russell is on board for the first time. center_img Ballychorus appears to have been found a good opportunity to get her head back in front in the Social Package Hurdle at Cork on Monday.last_img read more

Dream week continues for Martin

first_img Martin said: “He needs to be ridden with confidence. Shane was very good on him – that was a Ruby Walsh or Paul Carberry job. “That’s the track for him, going up the hill and they are coming back to him. On quicker ground they don’t come back to you. “He’s a chaser in the making.” Slygufftou finished powerfully to land the Galway Shopping Centre Handicap Hurdle in the hands of Luke Dempsey. Michael McCullagh’s charge was turning out just nine days after opening his account under Rules at the 11th attempt at Wexford and was a 16-1 shot for this more competitive heat. The grey was never too far off the speed, but looked booked for minor honours as Harangue and Medinah Gold began to draw clear from the second-last. However, Medinah Gold was slow at the final obstacle and with Harangue beginning to tie up, Slygufftou stuck on admirably to come through and win by a length and three-quarters. McCullagh said: “This horse has given me a hard time at home but I forgive him all now. I was saying beforehand that I should have waited for Roscommon (on Tuesday). “I told young Dempsey to wait and wait and he did exactly as he was told.” Press Association Dollar And Dream provided Tony Martin with another Galway winner in the Martinstown Opportunity Handicap Hurdle.center_img Having finished third in similar events at Tipperary and Limerick in the spring, the six-year-old was the 7-2 favourite for the opening contest on the final day of the week-long Festival at Ballybrit. Leading conditional Shane Shortall was happy to play the waiting game and Dollar And Dream remained nearer last than first jumping the second flight from the finish. However, he began to motor before the home bend to move into contention and knuckled down well from the last to beat Afatcat by three and a half lengths. last_img read more