Market Prediction

Today, Bank Indonesia will announce the benchmark interest rate. It is estimated that this interest rate will still be stagnant, this is due to the condition of Indonesian economy which is still in a low level of inflation, the current account deficit is reduced, and the foreign exchange reserves are recorded to be much better.

Today, JCI actually has a chance to rebound, but market players still have to pay attention to speech from the board of governors of Bank Indonesia.

JCI closed down with a bearish candle. The stochastic indicator is bullish, MACD histogram is moving positive again (line golden cross) and volume is slightly increasing. If it is able to stay above level 6,050, JCI has the potential to strengthen up to test the resistance levels of 6,096 - 6,115. Meanwhile, if it moves in bearish candle again, JCI can return to test support levels at 6,018 - 6,029.

Commodities Review

• World crude oil prices strengthened on Monday (19/4/2021), thanks to the weakening dollar exchange rate. Rising Covid-19 cases in India and other countries are pushing oil prices from further strengthening

Macro Economic News

• Japan's trade surplus soared to JPY 663.72 billion in March 2021 from JPY 7.49 billion in the same month a year earlier and easily exceeding market expectations of a JPY 490 billion surplus.
• Exports from Japan jumped 16.1% yoy to JPY 7.38 billion in March 2021, beating market consensus of an 11.6% growth and after a 4.5% fall in February

Corporate news

• PT Arwana Citramulia Tbk (ARNA) posted satisfactory performance in the first three months of 2021. ARNA pocketed profit for the year attributable to the owners of the parent entity of up to Rp 118.33 billion. This achievement increased 80.11% year on year (yoy) from the same period the previous year which was IDR 65.70 billion.
• The performance of PT Merdeka Copper Gold Tbk (MDKA) has decreased throughout 2020 which pocketed a net profit of US $ 36.19 million. This realization decreased by 48.9% on an annual basis (yoy) from net profit in 2019 which reached US $ 70.83 million.
• PT Waskita Karya Tbk (WSKT) secured shareholder approval for a new loan worth IDR 15.3 trillion or USD 1.05 billion in a new push after pledges of support from a recently announced sovereign wealth fund.
• PT Impack Pratama Industri Tbk (IMPC) until the end of 2020 recorded a net profit of IDR 125.06 billion or grew 21.35 percent compared to the end of 2019, which recorded a net profit of IDR 103.7 billion.
• PT Tigaraksa Satria Tbk (TGKA) earned a profit attributable to the owners of the parent company of IDR 478.56 billion until the period 31 December 2020, an increase from the profit in 2019 which reached IDR 428.41 billion.

PT Kiwoom Sekuritas Indonesia (KSI)

Treasury Tower 27th Floor Unit A, District 8 Kawasan SCBD Lot 28

Jl.Jend.Sudirman Kav 52-53, Jakarta Selatan 12190

Telp : +62 21 5010 5800

Fax. +62 21 5010 5820

Website : www.kiwoom.co.id