Market Prediction
In yesterday's trading, JCI closed down below level of
6,100.
Indonesia's retail sales data for June period was 2.5% YoY,
lower than the previous period of 14.7% YoY.
In addition, the decline in the index was suppressed by the
decline in shares of EMTK, BRIS, BRPT, BBRI and AGRO.
Most stocks in the banking sector, especially mini banks,
experienced a decline in yesterday's trading.
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 down. There is a
chance for JCI to strengthen because it has touched the
trendline support and managed to survive or not break
down. If it moves bullishly, the potential for strengthening
is at the resistance levels of 6,130 – 6,147. If JCI moves
bearish again, it could move back to support at the range
of 6,029 – 6,042.
Commodities Review
- Crude oil prices reversed losses on Wednesday
(11/8). After the White House asked OPEC and its
allies to increase oil production to support the
global recovery from the pandemic.
- Gold prices soared after data on consumer prices
in the United States (US) were tame, Wednesday
(11/8). Eases concerns that the Federal Reserve
will reduce its economic support sooner than
expected.
Macro Economic News
- The annual core inflation rate in the US,
which excludes food and energy, rose to 4.3
percent in July of 2021 from 4.5 percent in
June and in line with market expectations.
- The US consumer price inflation rate stood
at 5.4 percent in July 2021, unchanged from
the previous month's 13-year high and
slightly above market expectations of 5.3
percent, reflecting the low base effect
caused by the coronavirus crisis, the reopening of the economy and continued
supply constraints.
- The unemployment rate in South Korea fell
to 3.3 percent in July of 2021 from 3.7
percent in the previous month.
Corporate news
- PT Pelita Samudera Shipping Tbk (PSSI) posted a satisfactory performance in the first semester of 2021,
scoring a net profit for the current period of US$ 7.25 million. The realization rose 149.14% compared
to net profit in the same period last year of US$ 2.91 million.
- PT Distribution Voucher Nusantara Tbk (DIVA) scored a satisfactory performance throughout the first
semester of 2021. DIVA pocketed net sales growth of up to 34.67% on an annual basis or year on year
(yoy) to IDR 2.39 trillion.
- PT Elnusa Tbk (ELSA) recorded an operating income for the first semester of 2021 of IDR 3.7 trillion or a
growth of 2.2% compared to the first semester of the previous year, gross profit of IDR 282 billion and
operating profit of IDR 127 billion.
- PT Trisula International (TRIS) in the second quarter of 2021 recorded an operating profit growth of 31.1
percent to IDR 9.4 billion from the first quarter of 2021. Sales were slightly corrected in the second
quarter of 2021 to IDR 255.0 billion compared to the first quarter of 2021 of IDR 256.5 billion.
PT Kiwoom Sekuritas Indonesia (KSI)
Treasury Tower 27th Floor Unit A, District 8 Kawasan SCBD Lot 28
Jl.Jend.Sudirman Kav 52-53, Jakarta Selatan 12190
Telp : +62 21 5010 5800
Fax. +62 21 5010 5820
Website : www.kiwoom.co.id
