Market Prediction

Foreign direct investment for first quarter of 2021 has been released with a successful growth of 14% compared to the same period in 2020. FDI was previously scheduled to be released on Friday this week, but was accelerated to be released on Monday, April 26, 2021.

With the release of upward FDI data, today JCI is expected to rebound from its previous decline.

However, JCI may still overshadowed by market player's concerns over the uncertainty of the direction of the domestic economy as well as the policy of prohibiting going back hometown that has been implemented by the government may hamper the level of consumption of people and has a significant negative impact on the accommodation and transportation sector.

JCI closed down to the level of 5,964 / -0.87% with a bearish candle. The stochastic indicator is still weak, approaching the oversold area, MACD histogram is positive but down (line flat) and volume is down. JCI will continue to decline towards the support levels of 5,929 - 5,944. For resistance, if it is able to be bullish, it is at the range of 5,977 - 6,027.

Commodities Review

• Oil prices fell on Monday (26/4), due to fears that a surge in Covid-19 cases in India will reduce fuel demand in the world's third largest oil importer. Investors are also adjusting their positions ahead of the OPEC+ oil production hike that is planned to start in May.

Macro Economic News

• Foreign direct investment into Indonesia surged 14 percent year-on-year to IDR 111.7 trillion (USD 7.72 billion) in the March quarter of 2021, following a 5.5 percent rise in the previous period.
• New orders for US manufactured durable goods edged up 0.5 percent month-over-month in March of 2021, well below market forecasts of a 2.5 percent increase as supply shortage impacted production again.

Corporate news

• PT Vale Indonesia Tbk (INCO) recorded sales of US $ 206.6 million in the first quarter of 2021. This achievement grew by 7% when compared to the realization in the fourth quarter of 2020 and grew 18% over the same period last year.
• The performance of PT Diamond Citra Propertindo Tbk (DADA) in 2020 is quite good. DADA's revenue was recorded at Rp. 92.79 billion at the end of 2020. This number decreased by 17.51% on an annual basis (yoy) compared to revenue in 2019 which amounted to Rp. 112.48 billion.
• PT Industri Jamu dan Pharmaceuticals Sido Muncul Tbk (SIDO) posted satisfactory performance during the first quarter of 2021. During the first three months of 2021 SIDO recorded sales of up to Rp 793.42 billion. SIDO sales increased 8.58% year on year (yoy) from Rp 730.72 billion in the first quarter of last year.
• PT Bayan Resources Tbk (BYAN) until the first quarter of 2021 posted a net profit of USD 165.86 million or an increase of 371.42 percent compared to the first quarter of 2020, which only recorded a net profit of USD 35.545 million.

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