Market Prediction
In yesterday's trading, JCI managed to rebound 0.84% at
the level of 6,139.
On the other hand, US stock exchanges, such as Dow Jones
and S&P, managed to break new record highs and have
strengthened for three consecutive days. Mega-cap
technology stocks pushed the market higher as investors
see improving jobs data pointing to a steady US economic
recovery.
JCI closed higher with a bullish candle. The stochastic
indicator has a chance for a golden cross, MACD histogram
is moving positive but down (line is weak) and volume is
increasing. JCI has a chance to strengthen again to the
resistance levels of 6,190 – 6,218. If it moves bearish
again, JCI will be in correction to the support at the range
of 6,097 – 6,113.
Commodities Review
- Oil prices were stable on Thursday (12/8). The
International Energy Agency (IEA) said the spread
of the Delta variant of the coronavirus would
slow the recovery in global oil demand.
- Gold prices held slightly above the key level of US$
1,750 on Thursday (12/8). Expectations of an early
decline in Federal Reserve asset purchases eased,
offsetting the dollar and stronger US Treasury
yields.
Macro Economic News
- The UK trade deficit rose to GBP 2.5 billion
in June of 2021 from a revised GBP 0.2
billion in the previous month.
- Business investment in the UK increased by
2.4 percent on quarter in the April-June
period of 2021, rebounding from a 10.7
percent fall in the previous period though it
is still 15.3 percent below its pre-pandemic
levels, preliminary estimates showed.
- The number of Americans filing new claims
for unemployment benefits dropped for a
third straight period to 375 thousand in the
week ending August 7th, moving closer to a
pandemic low of 368 thousand reached at
the end of June and adding to signs of a solid
recovery in the US labor market despite the
lingering threat of the Delta variant.
Corporate news
- PT Tunas Ridean Tbk (TURI) until the first semester of 2021 posted a profit attributable to shareholders
of IDR 214.1 billion, an increase of 100% from the period of June 2020.
- PT Bumi Resources Minerals Tbk (BRMS) until the first semester of 2021 recorded a net profit of USD
3.63 million or up 280.31% compared to the first semester of 2020 which only reached USD 955,388.
- PT Erajaya Swasembada Tbk (ERAA) until the first semester of 2021 achieved a net profit of IDR 558.54
billion, an increase of 393.8 percent compared to the same period in 2020 which was recorded at IDR
113.42 billion.
- During the first quarter of 2021, PT Wicaksana Overseas International Tbk (WICO) recorded a net loss
of IDR 32.08 billion. A sharp dip from the same period in 2020 with a collection of IDR 3.62 billion in
profit.
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
