Market Prediction

JCI closed up 1.31% last week at the level of 5,848. As for today, JCI's movement has limited opportunities to strengthen.

Meanwhile, Wall Street stock exchange closed with a relatively limited movement at the weekend, strengthening only 0.19% on Dow Jones index.

On the other hand, for Asian stock markets today seems to be moving mixed, where Nikkei stock index opened negative and fell 0.5% due to the release of monthly retail sales data for April which recorded negative 4.5%.

Commodities Review

• The price of gold broke above US$ 1,900 per troi ounce at the weekend. The main sentiment for gold prices came after the US consumer price surged in April. Friday (28/5), the spot gold price closed up 0.38% to the level of US$ 1,903.77 per troi ounce. This leaves gold on track for its fourth consecutive weekly advance, after surging 1.2%.

Macro Economic News

• Personal income in the US decreased 13.1 percent month-over-month in April of 2021, compared to market expectations of a 14.1 percent drop and after jumping by a revised 20.9 percent in March when most Americans received $1,400 checks as part of Covid-19 stimulus.
• Personal spending in the United States rose 0.5 percent from a month earlier in April 2021, following an upwardly revised 4.7 percent rise in March and matching consensus as Americans were spending more on services, dining out and traveling.
• Japan’s unemployment rate rose to 2.8 percent in April 2021 from an 11-month low of 2.6 percent a month earlier and above market consensus of 2.7 percent.

Corporate news

• PT Wahana Interfood Nusantara Tbk (COCO) posted net sales of IDR 170.04 billion in 2020. This number is down 21.34% (yoy) compared to the company's net sales in 2019 of IDR 216.19 billion.
• The revenue of PT Wijaya Karya Tbk (WIKA) in the first quarter of 2021 amounted to Rp 3.92 trillion. This number is down 6.4% compared to the same period last year amounting to Rp 4.19 trillion.
• The performance of PT Lautan Luas Tbk (LTLS) in the first quarter of 2021 is quite satisfying. LTLS was able to carve a profit for the current period attributable to the owners of the parent entity, aka a net profit of Rp 39.46 billion in the first quarter of 2021. Even though in the same period in 2020, LTLS still suffered a net loss of IDR 119.16 billion.
• PT Charoen Pokphand Indonesia Tbk (CPIN) managed to record performance growth over the past year. Based on the 2020 financial report, CPIN posted sales of Rp 42.52 trillion, a slight increase of 0.047% from the previous year's achievement of Rp 42.50 trillion.
• PT Berkah Beton Sadaya Tbk (BEBS) posted a net profit of Rp 20.9 billion in the first quarter of 2021. This experienced a jump of up to 522.7% from Rp 16.9 billion from the first quarter of 2020.

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