First half (H1) 2021 has been rather timid movements for IHSG. While several global indices advanced as high as above 10%, the IHSG dropped by 2%.

The next 6 months (H2) could be the moment to catch up with these global indices, due to the following catalyst:

1. Anticipated blockbuster IPO of GoTo (Gojek Tokopedia).
2. Acceleration of vaccination rates, leading to wider opening of the economy.
3. Digitalization of the economy.
4. Foreign investment, due to high interest rates and current trade surplus.
5. IDR (Rupiah) stabilization.

Potential upsides for some stocks in second half 2021, upon recover of the economy:

ANTM – investment in EV battery minerals

LPPF – potential inclusion into e-commerce ecosystem

MTDL – digitalization of the economy

SRTG – potential profit up to IDR 14 trillion (USD 1 billion) in Q2 2021 alone