Market Prediction

Yesterday's trading, JCI managed to gain 0.5% to the level of 6,118. This increase was due to market participants being optimistic about the release of positive exportimport and balance of trade data.

Balance of trade data per July recorded a surplus of $2.59Bn, higher than the previous period of $1.32Bn.

On the other hand, today the market seems to be focusing on BI’s meeting to comment on economic conditions and determining the direction of interest rates.

JCI closed higher with a bullish candle. The stochastic golden cross indicator, MACD histogram is moving negative (line is weak) and volume is increasing. After JCI managed to hold or not break down below support. JCI has the chance to strengthen again to the resistance levels of 6,166 – 6,179. If it moves in bearish again, JCI will test the immediate support at the range of 6,040 – 6,068.

Commodities Review

• Crude oil prices were decline again. Investors are still worried about the outlook for fuel demand as a surge in global Covid-19 cases could limit flights, trains and other forms of travel.

Macro Economic News

• Japan posted a trade surplus of JPY 441.02 billion in July 2021, shifting from a deficit of JPY 14.76 billion in the same month a year earlier and exceeding market consensus of a surplus of JPY 202.3 billion.
• Indonesia's trade surplus narrowed to USD 2.59 billion in July of 2021 from USD 3.2 billion in the same month of the previous year and compared with market consensus of USD 2.27 billion.
• The consumer price inflation rate in the UK eased to 2.0 percent year-on-year in July 2021, from a near three-year high of 2.5 percent in the previous month and below market expectations of 2.3 percent.

Corporate news

• PT MNC Studios International Tbk (MSIN) scored a satisfactory performance during the first six months of 2021. In the first semester of 2021, MSIN recorded operating revenues of IDR 974.89 billion in the first semester of 2021. This number increased by 36% compared to the same period last year which recorded IDR 716.17 billion.
• PT Pelayaran Nasional Bina Buana Raya Tbk (BBRM) posted revenue of US$ 1.33 million in the first quarter of 2021. This amount was recorded to decrease from revenue in the same period in 2020 which amounted to US$ 3.45 million.
• PT Resources Alam Indonesia Tbk (KKGI) until the first semester of 2021 achieved a net profit of USD 3.961 million, an improvement compared to the same period in 2020 which recorded a net loss of USD 826.16 thousand.
• PT Bank KB Bukopin Tbk (BBKP) managed to record a net profit jump of 194 percent compared to the same period the previous year. It is stated that BBKP's net profit jumped from IDR 51.75 billion in the first semester of 2020 to IDR 152.60 billion in the first semester of 2021.

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