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22 Jul 2021

Market Prediction

Today, JCI seems to be focused on the release of 7days RR data which is estimated to be stagnant at the level of 3.50%. Several things to consider in setting the interest rate are the inflation rate which tends to remain low and the economic condition which is still very vulnerable and still requires a lot of stimulus.

JCI closed higher with a bearish candle. The stochastic indicator is moving lower, MACD histogram is moving negative (line is weak again) and volume is increasing. JCI is expected to test the immediate support at 6,015, if it breaks below that, it can continue to the support at 5,982. If JCI is able to strengthen again, the resistance is at the range of 6,053 – 6,063.

Commodities Review

  • Oil prices soared in late trading Wednesday (21/17/2021), extending gains for the second day in a row, despite data showing an unexpected rise in US crude inventories.

Macro Economic News

  • Japan posted a trade surplus of JPY 383.18 billion in June 2021, reversing from a deficit of JPY 290.95 billion in the same month a year earlier and compared with market consensus of JPY 460 billion.
  • Producer Prices in South Korea increased to 109.06 points in June from 108.65 points in May of 2021.

Corporate news

  • PT Bumi Serpong Damai Tbk (BSDE) managed to achieve pre-sales of Rp4.5 trillion in the second quarter of 202. This achievement is equivalent to a growth of 56% when compared to the achievement of the same period in 2020, which was Rp. 2.9 trillion.
  • PT Pelayaran Nasional Bina Buana Raya Tbk (BBRM) during the first quarter of 2021 still bears a loss for the year attributable to owners of the parent entity, which was recorded at USD 423 thousand, down from a loss of USD 1.33 million the previous year.
  • PT Pelat Timah Nusantara Tbk (NIKL) posted sales of US$ 90.62 million per semester I-2021. This number increased by 29.95% (yoy) compared to NIKL's sales in the first half of 2020 of US$ 69.73 million.
  • The volume sales of PT HM Sampoerna Tbk (HMSP) cigarettes reached 142.7 billion cigarettes during the first half of this year. This sales increased 8.7% compared to the same period the previous year, 131.3 billion sticks.

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