Market Prediction

Last week, JCI’s movement tend to be flat.

As for this morning, MSCI Asia Pacific Index opened up increased by 0.4%.

On the other hand, ECB will begin to focus on dealing with rising inflation and is ready to change the direction of its monetary policy. JCI closed slightly lower with a bullish candle. The stochastic indicator is neutral after the deadcross, MACD histogram is moving in a positive direction (potential golden cross line) and volume is down.

JCI has a chance to strengthen the resistance at the range of 6,066 – 6,079. If the movement tends to be bearish or the nearest breakdown to the range of 6,022 – 6,026, JCI could drop to support at 6,013 & support II at 5,992.

Commodities Review

• World crude oil prices moved higher again at the end of last week, this increase was triggered after US oil supplies declined. Even so, price for a weekly was declined of around 1 percent, dragged down by the deadlock in talks between the Organization of the Petroleum Exporting Countries (OPEC) about production levels.

Macro Economic News

• China's annual inflation rate unexpectedly fell to 1.1% in June 2021 from May's eightmonth high and market expectations of 1.3%.
• The UK trade account shifted to a surplus of GBP 0.9 billion in May of 2021, compared to an upwardly revised GBP 1.6 billion deficit in the previous month.

Corporate news

• PT Reliance Sekuritas Indonesia Tbk (RELI) recorded a Net Profit of IDR 35.09 billion in 2020 compared to 2019 which recorded a net loss of IDR 3.59 billion in 2019.
• PT Indah Kiat Pulp and Paper Tbk (INKP) stated that the company decided to close its subsidiary in the Cayman Islands, Ik Trading Limited.
• PT Anugerah Kagum Karya Utama (AKKU) throughout 2020 recorded an operating income of IDR 207.59 billion. Skyrocketed sharply compared to the same period in 2019 with revenue of IDR 21.68 billion.
• PT Panca Anugrah Wisesa (MGLV) during the first quarter of 2021 recorded sales of IDR 61.16 billion. Up from the same period in 2020 with revenues of IDR 47.47 billion.
• PT Ciputra Development Tbk (CTRA) posted marketing sales of IDR 3.6 trillion until the first semester of 2021, which was up 77% on an annual basis (yoy). With this, CTRA realized 69% of their target of marketing sales.

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