Market Prediction

In yesterday's trading, JCI fell by 1.22% at the level of 6,127, the market was anticipating because of the release of consumer confidence data for July period of 80.2 or falling below expectations and also data in June period which was at the level of 107.4.

On the other hand, last night Indonesian government announced that PPKM level 4 was extended until August 16, 2021 and will continue to be monitored, if infection cases are still high then there is a possibility that PPKM will be extended again until the end of August.

JCI closed down with a bearish candle. The stochastic indicator is bearish, MACD histogram is moving positive but down (line is weak) and volume is increasing. If it moves bearish, JCI could move back to support levels of 6,029 – 6,034. If JCI is able to move bullish, there is a chance to strengthen to test resistance at the range of 6,159 – 6,173.

Commodities Review

• Gold prices slumped to a more than four-month low on Monday (9/8). Strong United States (US) jobs data supported expectations for an early easing of the Federal Reserve's economic support measures.
• Oil prices fell on Monday (9/8), building on last week's sharp decline. The rise in Covid-19 cases has fueled fears of a slowdown in fuel demand. 

Macro Economic News

• China's annual inflation rate edged down to 1.0% in July 2021 from 1.1% a month earlier and compared with market consensus of 0.8%.
• Indonesia's consumer confidence index plunged 27.2 points to 80.2 in July from 107.4 in the previous month, amid stricter lockdown measures to contain the spread of the coronavirus in some regions.
• China's producer prices were up 9.0% yearon-year in July 2021, compared with market expectations and June's figure of an 8.8% gain.

Corporate news

• PT Diagnos Laboratory Utama, Tbk (DGNS) posted a net income of IDR 168, 8 billion in semester 1 of 2021 or grew 280.8% year on year (yoy). Meanwhile, the company's net profit shot higher, growing 460.9% yoy or IDR 46.1 billion in the first half of 2021.
• PT Selamat Sempurna Tbk (SMSM) managed to record an impressive performance in the first six months of 2021. SMSM managed to earn net sales of IDR 1.97 trillion. This number increased by 34.57% from the realization of net sales in the first semester of 2020 of IDR 1.46 trillion.
• PT Trisula Textile Industries Tbk (BELL) in semester I-2021 managed to get an increase in net profit attributable to owners of the parent entity to IDR 5.6 billion compared to the same period in the previous year, which was IDR 301.2 million.
• PT Mitra Keluarga Karya Sehat Tbk (MIKA) posted a significant performance growth throughout the first semester of 2021. MIKA pocketed a net income of up to IDR 2.38 trillion. This achievement increased by 65.80% compared to the same period last year on year (yoy).

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