Market Prediction

JCI was overshadowed by market concerns over the major increase in covid infection. Daily infection data on 24 June crossed 20,000, this figure is the highest for the first time in Indonesia.

JCI closed down with a bearish candle. JCI is at the support of EMA 34. The stochastic indicator is neutral, MACD histogram is moving negative (bullish line) and volume is falling. JCI has a chance to strengthen to test resistance levels of 6,060 – 6,070. If JCI is bearish again, it could close the gap area again or test support at 5,996 & support II at 5,972.

Commodities Review

• Oil prices rose slightly, the increase in oil prices came after the release of official data showing a decline in crude oil inventories in the United States (US) which was larger than expected. US oil inventories fell to their lowest since before the Covid-19 outbreak.

Macro Economic News

• Consumer Confidence in South Korea increased to 110.30 points in June from 105.20 points in May of 2021.
• The value of loans in Indonesia decreased 1.30 percent in May of 2021 over the same month in the previous year.
• New orders for US manufactured durable goods increased 2.3 percent month-over-month in May of 2021, rebounding from a downwardly revised 0.8 percent drop in April and below market expectations of a 2.8 percent rise.

Corporate news

• PT Digital Mediatama Maxima Tbk (DMMX) scored a positive performance in the first quarter of this year. DMMX revenue grew 112.0% yoy to IDR 180.7 billion with a 16.5% increase in net profit to IDR 10.3 billion.
• PT Eastparc Hotel Tbk (EAST) until the first quarter of 2021 earned a profit for the current period of IDR 1.282 billion, an increase of 86.6 percent compared to the first quarter of 2020 of IDR 687.14 million.
• PT Resources Alam Indonesia Tbk (KKGI) achieved a net profit attributable to owners of the parent entity of USD 1.97 million for the period March 31, 2021 after recording a net loss of USD 3.63 million in the same period the previous year.
• PT Medikaloka Hermina Tbk (HEAL) during the first 3 months of 2021 managed to record a net profit attributable to owners of the parent entity of IDR 283.25 billion, an increase of 294.27% from profit of IDR 71.84 billion the previous year.

PT Kiwoom Sekuritas Indonesia (KSI)

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