Market Prediction

Indonesia's manufacturing index for June period was 53.5, this figure is lower than the previous period of 55.3. As for Asian stock market opened fluctuating today.

JCI closed higher with a bullish candle. The index was unable to hold above level 5,992. The stochastic indicator is neutral, MACD histogram is moving negative (line is weak) and volume is increasing. If JCI breaks up again to level 5,992, there is a chance for JCI to strengthen the resistance at the range of 6,011 – 6,030. If it is unable to return above level 5,992 and the movement tends to be bearish, JCI could drop to support at 5,950 & support II at 5,913.

Commodities Review

• Oil prices continue to rebound. The rebound in oil prices occurred amid the market awaiting the OPEC+ meeting to discuss August production levels. Even so, the rebound in oil prices was restrained by fears of the spread of the corona virus.

Macro Economic News

• Retail Sales in South Korea decreased 1.80 percent in May of 2021 over the previous month.
• The official NBS Manufacturing PMI for China edged down to 50.9 in June 2021 from 51.0 a month earlier and compared with market expectations of 50.8.
• The consumer confidence index in Japan increased by 3.3 points from the previous month to 37.4 in June of 2021.

Corporate news

• PT Indofood Sukses Makmur Tbk (INDF) posted performance growth in the first quarter of 2021. INDF posted revenue of IDR 24.55 trillion during the first three months. The realization grew 27.2% compared to the same period the previous year of IDR 19.3 trillion.
• PT Darmi Bersaudara Tbk (KAYU) posted a negative performance in the first three months of this year, which was down 89.11% from the same period the previous year. KAYU posted net sales of IDR 2.64 billion as of the end of March. Whereas in the previous year, KAYU still earned net sales of up to IDR 24.32 billion.
• PT Agung Podomoro Land Tbk (APLN) in the first quarter of 2021 posted sales and operating revenues of IDR 485 billion. This number decreased by 63.3% compared to the same period in 2020 which reached IDR 1.32 trillion.
• Indofood CBP Sukses Makmur (ICBP) throughout the first quarter of 2021 recorded consolidated net sales of IDR 15.09 trillion. Skyrocketed 26 percent from the same period in 2020 in the range of IDR 12.01 trillion.

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