Market Prediction

In the past week, JCI moved down 1.03% to the level of 6,139.

Today, the marker seems closely watching the possibility of Indonesia's export and import data in July period, besides that balance of trade data will also be released on

August 18 with an estimate of $2 Bn. In addition, from the point of view of the development in handling Covid-19, the Government took a policy to eliminate Covid-19 death rate because it was considered irrelevant and inaccurate. This seems to be a concern for the market last week.

JCI closed slightly lower with a bearish candle. The stochastic indicator is flat, MACD histogram is moving negative (line is weak) and volume is down. If JCI moves bullish, there is a chance to strengthen again to the resistance at the range of 6,179 – 6,203. If JCI moves in bearish again, it will be corrected to the support at the range of 6,097 – 6,113.

Commodities Review

• Gold prices rose more than 1% in trading over the weekend. The main catalyst came from survey results showing that US consumer sentiment fell in early August and calmed investors' concerns over the tapering off from Federal Reserve.

Macro Economic News

• Export Prices in South Korea increased to 111.19 points in July from 107.40 points in June of 2021.
• Prices for US exports rose 1.3 percent from a month earlier in July of 2021, accelerating from a 1.2 percent increase in June and above market expectations of 0.8 percent.
• Car Registrations in Indonesia decreased to 41606 in July from 72270 in June of 2021.

Corporate news

• Car sales of PT Astra International Tbk (ASII) in July 2021 increased and managed to record vehicle sales of 32,968 units last month. ASII’s sales in July 2021 jumped 225.03% compared to the same period last year of 10,140 units.
• PT Multipolar Technology Tbk (MLPT) during the first six months of 2021 posted a profit for the period attributable to owners of the parent entity of IDR 88.33 billion, an increase of 10.09 percent from a profit of IDR 80.23 billion.
• PT Supreme Cable Manufacturing & Commerce Tbk (SCCO) throughout the first quarter of 2021, it posted a profit for the period attributable to owners of the parent entity of IDR 87.40 billion. It was decreased by 37.34 percent from the same period in 2020 with a profit collection of IDR 139.49 billion.
• The performance of PT Bank Pembangunan Daerah Banten (BEKS) continues to improve. As of August 10, 2021, income rose 262 percent compared to March 2021. The jump in performance was supported by interest income and fee-based income.

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