Market Prediction

The three major US stock market indexes ended mixed, with the majority lower. The decline occurred in line with the release of Markit Composite PMI Final for the July period, which was 59.9, lower than the previous period of 63.7 . As well as the release of lower-than-expected ADP employment chg data for July period also weighed on the US stock index last night.

From within the country, today it is planned to release data on Indonesia's Q2 economic growth which is estimated to grow 7% YoY.

JCI managed to close higher with a bullish candle. The stochastic indicator is bullish, MACD histogram is moving positive (neutral line) and volume is increasing. If JCI is able to move bullish, there is a chance to strengthen again to test resistance at the range of 6,195 – 6,230. If it returns to bearish, JCI could move back to the support at the range of 6,112 – 6,130.

Commodities Review

• Oil prices closed lower to their lowest in two weeks in the previous session. Prices were dragged down by the increase in United States (US) crude oil stocks and fears that the spread of the Delta variant of the corona virus would weigh on global energy demand.
• Gold prices finally only closed slightly higher after comments from high-ranking Federal Reserve officials and service industry activity data from the United States (US) shifted concerns.

Macro Economic News

• The Caixin China General Services PMI climbed to 54.9 in July 2021 from a 14- month low of 50.3 in June, signaling a sharp and accelerated expansion of services activity amid the successful containment of the recent uptick in COVID-19 cases.
• The IHS Markit US Services PMI was revised slightly higher to 59.9 in July of 2021, from a preliminary estimate of 59.8.
• Foreign Exchange Reserves in South Korea increased to 458680 USD Million in July from 454110 USD Million in June of 2021.

Corporate news

• PT Bayan Resources Tbk (BYAN) managed to record a brilliant performance throughout the first semester of 2021. BYAN posted a net profit for the period attributable to the parent company of US$ 337.04 million. This achievement rose 386.85% of the net profit in the same period last year of US$ 69.23 million.
• PT Asia Pacific Fibers Tbk (POLY) posted an increase in revenue performance in the first six months of this year. POLY's net income recorded an increase of 42.30%, from previously US$ 117.17 million in the first semester of 2020 to US$ 166.75 million in the first semester of 2021.
• PT Malindo Feedmill Tbk (MAIN) posted a positive performance during the first six months of 2021. MAIN was able to reverse the situation from recording a net loss of IDR 44.22 billion to a profit of IDR 128.60 billion. In other words, its bottom lineshot up 390.82% on an annual basis or year on year (yoy).
• PT Semen Indonesia Tbk (SMGR) managed to record a slick performance throughout the first semester of 2021, which recorded a sales volume of 19.15 million tons. This number increased by 5.7% from sales in the same period of 18.11 million tons. 
  

PT Kiwoom Sekuritas Indonesia (KSI)

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