Market Prediction

Yesterday, JCI managed to close above level of 6,000s amid plans to tighten micro PPKM activities for the Java-Bali region.

On the other hand, market players also seem to be waiting for the release of US nonfarm payrolls data which is scheduled for release on July 2nd. This figure will be a reference for the next steps that will be chosen by the Federal Reserve. It is estimated that June nonfarm payrolls figure will increase by 700k from the previous 559k.

JCI closed higher with a bullish candle. The stochastic golden cross indicator, MACD histogram is moving in a positive direction (the line is weak) and volume is falling. If JCI moves bullish again, there is a chance for JCI to strengthen the resistance at the range of 6,039 – 6,060. If the movement tends to be bearish, JCI could drop to support at 5,969 & support II at 5,950.

Commodities Review

• The price of crude palm oil (CPO) jumped sharply due to News of the CPO price booster came from India. The government of Prime Minister Narendra Modi announced a reduction in the import duty on CPO from 15% to 10%. This policy is valid from 30 June to 30 September 2021.

Macro Economic News

• Indonesia's annual inflation declined to 1.33 percent in June of 2021, the lowest since last August and below forecasts of 1.41 percent.
• The Bank of Japan's index for big manufacturers' sentiment jumped to 14 in the June quarter of 2021 from 5 in the previous period and compared with market consensus of 15.
• The Caixin China General Manufacturing PMI fell to 51.3 in June 2021 from 52 in May, below market estimates of 51.8.

Corporate news

• PT Djasa Ubersakti Tbk (PTDU) during the first three months of 2021 recorded an operating income of IDR 5.64 billion, down 13.34% year on year (yoy) compared to the same period last year, which was recorded at IDR 6.51 billion.
• PT Inocycle Technology Group Tbk (INOV) recorded performance growth during the first quarter of this year. INOV sales increased by 13% to IDR 151.19 billion, from sales in the same quarter the previous year of IDR 133.64 billion.
• PT Sentul City Tbk (BKSL) reversed a loss position into profit in the first quarter of 2021. Based on its financial report as of March 31, 2021, BKSL posted revenue of IDR 462.70 billion or increased by 310.74 percent from IDR 112.65 billion in the first three months of last year.
• PT Shield On Service TBK (SOSS) recorded a revenue performance that fell 13.7% yoy to IDR 318.02 billion in the first quarter of 2021. However, SOSS' net profit actually increased by more than 100% from the previous IDR 1.10 billion in the previous quarter I 2020 to IDR 2.46 billion at the end of March 2021

PT Kiwoom Sekuritas Indonesia (KSI)

Treasury Tower 27th Floor Unit A, District 8 Kawasan SCBD Lot 28

Jl.Jend.Sudirman Kav 52-53, Jakarta Selatan 12190

Telp : +62 21 5010 5800

Fax. +62 21 5010 5820

Website : www.kiwoom.co.id