Market Prediction

Indonesia ranks 4th based on the highest number of active cases in Asia, this ranking is up from the previous number 5. In addition, JCI in yesterday's trade closed down 0.72%, one of which was due to concerns over the entry of a new variant virus originating from mutation in India and South Africa.

JCI closed down with a bearish candle. The stochastic indicator is weakening, MACD histogram is positive but down (line flat) and volume is increasing. JCI has a chance to strengthen up to the resistance levels of 6,004 - 6,019, if it maintains above level 5,950. If it is bearish again, JCI will go to the support at the range of 5,883 - 5,898.

Commodities Review

• Gold prices surged more than 1% on Monday (3/5), followed by other precious metal due to the weakening dollar and US Treasury yields.

Macro Economic News

• Indonesia's annual inflation accelerated slightly to 1.42 percent in April of 2021, the highest since January and compared to forecasts of 1.46 percent.
• The IHS Markit South Korea Manufacturing PMI declined to 54.6 in April 2021 from 55.3 on March, the lowest reading since January, signalling a softer but still solid improvement in the health of the manufacturing sector.

Corporate news

• PT Prodia Widyahusada Tbk (PRDA) is still able to maintain performance growth in the first quarter of 2021. This company recorded revenues of Rp 625.53 billion, an increase of 59.8% compared to the same period last year of Rp 391.37 billion.
• PT Aneka Tambang Tbk (ANTM) managed to record a slick performance during the first quarter of 2021 which earned a net profit of Rp 630.37 billion. This is reversed from the condition in the first quarter of 2020, where ANTM booked a loss of up to Rp 281.84 billion.
• PT Perusahaan Gas Negara Tbk (PGAS) recorded US 61.57 million in net profit attributable to the parent entity during the first quarter of 2021. This realization was up 28.87% from the net profit in the same period the previous year which was only U $ 47.77 million.
• PT Malindo Feedmill Tbk (MAIN) achieved strong financial performance results in the first three months of 2021. MAIN's net sales amounted to Rp 2.14 trillion in the first quarter of 2021 or grew 26.62% (yoy) compared to the company's net sales in the first quarter of 2020 amounting to IDR 1.69 trillion.

PT Kiwoom Sekuritas Indonesia (KSI)

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