Market Prediction

JCI in the past week fell 0.52% at the level of 6,070. Today, market participants seem to be waiting for an announcement from the government regarding the decision for PPKM Level 4.

The implementation of PPKM level 4 aims to reduce the rate of Covid-19 cases. Restrictions on public mobility are expected to reduce infection rates. The number of infections on August 1, 2021, was still recorded above 30,000 daily cases.

In addition, Indonesia’s Manufacturing PMI data for July period was released at the level of 40.1 or contracted compared to the previous period which was still expansive at the level of 53.5. Not only manufacturing data, today is also scheduled to release Indonesia's inflation data for the July period.

JCI managed to close down with a candle. bearish. The stochastic indicator is weak, MACD histogram is moving positive but down (neutral line) and volume is increasing. If bearish again, JCI could move back to support levels at the range of 6,016 – 6,029. If JCI is able to move bullish, there is a chance to strengthen again to test resistance levels at the range of 6,096 – 6,114.

Commodities Review

• World crude oil prices edged up in trading Friday (31/7) United States (US) time. The increase in market demand for oil, which was higher than supply, supported prices.

Macro Economic News

• Business Confidence in South Korea decreased to 97 points in July from 98 points in June of 2021.
• Japan’s unemployment rate unexpectedly was 2.9 percent in June 2021, compared with market consensus and May's fivemonth high of 3.0 percent.
• Personal consumption in the US surged 1% mom in June of 2021, rebounding from a 0.1% drop in May and beating market forecasts of a 0.7% increase, as consumers shifted spending to service-sector industries, such as restaurants and travel.
• Personal income in the United States edged 0.1 percent higher in June 2021, trying to recover from a revised 2.2 percent drop in May and beating market expectations of a 0.3 percent fall.

Corporate news

• PT Solusi Bangun Indonesia Tbk (SMCB) recorded a brilliant performance throughout the first half of 2021. Until the end of June 2021, this subsidiary of PT Semen Indonesia Tbk (SMGR) recorded a sales volume of 6.22 million tons of cement. This figure is up 17.73% from the realization of sales in the same period the previous year of 5.29 million tons.
• PT Selaras Citra Nusantara Perkasa Tbk (SCNP) posted a significant increase in sales in the first six months of this year which recorded an increase of 83.56% to IDR 211.12 billion.
• PT Medikaloka Hermina Tbk (HEAL) shot up in the first six months of 2021, increasing 78.87% on an annual basis to IDR 3.1 trillion.
• PT Indocement Tunggal Prakarsa Tbk (INTP) managed to score a slick performance throughout the first semester of 2021. INTP posted a net profit of IDR 586.57 billion, up 20.54% from net profit in the first half of 2020 which was only IDR 470.03 billion.
• PT Archi Indonesia Tbk (ARCI) posted growth in performance in the first half of this year. On the topline, ARCI's consolidated revenue rose 9% year-on-year (yoy) from US$ 130.1 million in the first semester of 2020 to US$ 142.4 million in the first semester of 2021.

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