Market Prediction

In yesterday's trading, JCI dropped 1.42%, market players took action to sell off aimed to secure their assets. There was rumor of a reduction in the investment value of BPJS TK in the capital market and that would reduce the portion of managed funds on the stock market resulted in negative response from the stock market.

BPJS TK is a fund manager who has a large amount of managed funds placed in shares, so the plan to reduce these assets is responded negatively by market players.

JCI closed down again with a bearish candle. The index had touched the support at 5,929, after that it was able to rebound so that it was closed at the level of 5,985. The stochastic indicator is weakening, MACD histogram is negative (line is weakening) and volume is slightly down. If the index is able to move the bullish candle there is a potential to strengthen up to the resistance flow at the range of 6,018 - 6,058. Conversely, if the movement tends to be bearish again, JCI can return to test support at the range of 5,892 - 5,929.

Commodities Review

• Copper prices have been corrected for two consecutive days in line with the increase in the amount of inventories on the London Metal Exchange (LME) and the strengthening of the US dollar.

Macro Economic News

• The Business Survey Index (BSI) on business conditions in the manufacturing sector in South Korea rebounded to 89 in March 2021 from 82 in February, as uncertainty over rising global yields and over vaccine rollouts declined.
• The official NBS Manufacturing PMI for China rose to 51.9 in March 2021 from 50.6 in February, beating market consensus of 51.0.

Corporate news

• PT Total Bangun Persada Tbk (TOTL) posted an operating income of Rp 2.29 trillion. This income decreased by 7.29% on an annual basis (yoy) from revenue in 2019 which amounted to Rp 2.47 trillion.
• The realization of PT Indonesian Tobacco Tbk (ITIC) 's performance throughout 2020 exceeded the target of 20%, both for the top and bottom line. Last year, ITIC posted an increase in revenue of 34.7% year on year (yoy) to Rp 224.3 billion from Rp. 166.57 billion previously.
• PT Kalbe Farma Tbk (KLBF) scored positive performance throughout 2020. KLBF pocketed net sales of up to Rp 23.11 trillion throughout 2020. This number is up 2.12% year on year (yoy) from the previous Rp 22.63 trillion.
• PT Kawasan Industri Jababeka Tbk (KIJA) posted revenue of Rp 2.39 trillion throughout 2020. This revenue is up 6.22% on an annual basis (yoy) from revenue in 2019 which amounted to Rp 2.25 trillion.
• PT Bumi Serpong Damai Tbk (BSDE) posted revenues of Rp 6.18 trillion. This number decreased by 12.71% on an annual basis (yoy) compared to 2019 revenue of IDR 7.08 trillion.

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