Market Prediction

JCI closed down with a bearish candle and was still able to hold above level 6,048. The stochastic indicator is bullish, MACD histogram is moving in a positive direction (the line is weakening) and volume is increasing. If JCI is able to move bullish again, there is a chance to further strengthen to the resistance at the range of 6,138 – 6,147. If JCI moves bearish again and breakdown to below level 6,048, it can go down again to support levels of 6,030 – 6,042 and the trend returns to bearish.

Commodities Review

• Crude oil prices shot up in yesterday’s trading. The price gains came on the bullish demand outlook after US regulators issued the first full approvals for a Covid-19 vaccine and Mexico experienced a massive production blackout.

Macro Economic News

• The Composite Consumer Sentiment Index (CCSI) in South Korea decreased 0.7 points to 102.5 in August of 2021 from 103.2 in the previous month, the lowest since April and marking the second consecutive monthly decline.
• New home sales in the US jumped 1% to a seasonally adjusted annual rate of 708K in July of 2021, in line with forecasts of 700K, and following a downwardly revised 2.6% drop in the previous month.

Corporate news

• PT Summarecon Agung Tbk (SMRA) achieved marketing sales of IDR 3 trillion until the first semester of 2021. This gain reached 75% of target marketing sales this year of IDR 4 trillion.
• PT Tirta Mahakam Resources Tbk (TIRT) posted net sales of IDR 12.6 billion in the first quarter of 2021. This number was recorded to have decreased by 86% compared to the amount in the same period in the first quarter of 2020 which reached IDR 91.1 billion.
• PT Sunson Textile Manufacturer Tbk (SSTM) until the first semester of 2021, achieved a net profit of IDR 54.138 billion, an increase of 1,445 percent compared to the same period in 2020 which was recorded at only IDR 3.5 billion.
• PT PAM Mineral Tbk (NICL) during the first semester of this year managed to record revenue of IDR 148 billion, while revenue in 2020 was IDR 188 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