Market Prediction

JCI in yesterday's trading was closed flat by positive 0.08%. From within the country today, there is still minimal positive sentiment.

The three Wall Street stock indexes closed higher and extended their gains to record highs. Meanwhile, US home sales data for June was -6.6% from the previous month's -7.8% MoM.

JCI closed higher with a bearish candle. The stochastic indicator is bullish, MACD histogram is positive (golden cross line) and volume is decreasing. If JCI is able to move bullish, there is a chance to strengthen again to test the resistance at the range of 6,137 – 6,145. If it continues to form a bearish candle, JCI could continue to decline to support I at 6,145 & support II at 6,137.

Commodities Review

• Oil prices decreased $1 in Monday as concerns about fuel demand caused by the spread of the Covid-19 variant as well as changes to import rules in China offset expectations of tight supply for the rest of the year.

Macro Economic News

• The au Jibun Bank Japan Manufacturing PMI was at 52.2 in July 2021, down from a final 52.4 in June, a preliminary reading showed.
• Sales of new single family houses in the US were down 6.6% to a seasonally adjusted annual rate of 676K in June of 2021, the 3rd consecutive decline and the lowest level since April last year, as high prices due to rising material costs continue to weigh on buyers' affordability.

Corporate news

• PT NFC Indonesia Tbk (NFCX) recorded revenue growth of 3.6% on an annual basis (yoy) to IDR 2.1 trillion in quarter 1-2021.
• PT AKR Corporindo Tbk (AKRA) managed to carve a good performance in the first semester of 2021 which posted a net profit of IDR 550 billion. The realization grew by 28 percent compared to the profit in the same period last year which amounted to IDR 432 billion.
• PT M Cash Integration Tbk (MCAS) recorded an annual revenue (yoy) increase from IDR 2.9 trillion to IDR 3.2 trillion in the first quarter of 2021.
• PT Bank Jago Tbk (ARTO) until the first semester of 2021 posted a net loss of IDR 47 billion. This was triggered by operational costs that swelled by 135 percent to IDR 183 billion.

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