Market Prediction

Asian stock index this morning opened in the green zone. On the other hand, Indonesian government will start implementing an emergency PPKM policy on July 2 to suppress the infection with covid. Several sectors for transportation, restaurants, hotels and malls may be negatively affected by the implementation of the policy.

JCI closed slightly higher with a bullish candle. The stochastic indicator is still bearish, MACD histogram is moving negative (line dead cross) and volume is increasing. If it is able to strengthen, the resistance must be retested at the range of 5,972 – 5,992. JCI is still expected to continue its decline to support at 5,913, if it breaks down, it can continue to test support II at 5,884. Be careful if it breaks down to below level 5,884, JCI could continue to decline to close the gap area.

Commodities Review

• API: US Crude Stocks Fall More Than Expected. Stocks of crude oil in the United States fell by 8.153 million barrels in the week ended June 25th, 2021, following 7.199 million drop in the previous week, and compared with market expectations of a 4.460 million decline, data from the American Petroleum Institute showed.

Macro Economic News

• Japan’s unemployment rate rose to 3.0 percent in May 2021 from 2.8 percent a month earlier and above market consensus of 2.9 percent.
• The consumer confidence indicator in the Euro Area was confirmed at -3.3 in June 2021, up for a fifth time in a row to the highest level since January 2018, supported by the reopening of the economy and the acceleration in the COVID vaccination pace.

Corporate news

• The sales volume of Komatsu heavy equipment PT United Tractors Tbk (UNTR) in May 2021 decreased. It was recorded that sales of heavy equipment in May 2021 period amounted to 167, a decrease of 24.4% from sales in April 2021 which reached 221 units.
• PT Tri Banyan Tirta Tbk (ALTO) posted a decline in sales performance in the first quarter of this year. ALTO recorded sales of IDR 75.30 billion, a 19.69% decrease from sales in the same quarter last year of IDR 93.77 billion.
• PT DMS Propertindo Tbk (KOTA) posted a decline in performance in the first quarter of 2021, which resulted in revenue of IDR 1.35 billion, a decrease of 51.85% from revenue in the same period last year of IDR 2.80 billion.
• Throughout the first quarter of 2021, PT M Cash Integration (MCAS) posted a net profit of Rp. 16.5 billion. Far higher than the same period in 2020 with a net loss of IDR 183.4 billion. At the end of March, the net cash position was recorded at IDR 144.4 billion.

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