Market Prediction

In yesterday's trading, JCI weakened 0.90% to level 6,058.

Market players are still taking anticipatory steps waiting for US Tapering's decision. In addition, Wall Street's three indexes closed down overnight. Negative sentiment also came from tensions in Afghanistan, namely there had been a bomb attack at Kabul airport.

JCI closed down with a bearish candle and is still testing the support at 6,048. The stochastic indicator is weak, MACD histogram is moving negative (line is weak) and volume is falling. If JCI moves in bearish again and breaks below level 6,048, it can continue to go down to the support at the range of 5,985 – 6,015 and the trend returns to bearish. If JCI is able to move bullish again, there is a chance to further strengthen to the resistance at the range of 6,079 – 6,093.

Commodities Review

• Crude oil prices settled in the red zone on Thursday (26/8/2021) due to fears that Covid-19 would cause a decline in demand despite shrinking supply in the US.

Macro Economic News

• The Bank of Korea raised its base rate by 25 basis points to 0.75% during its August 2021 meeting, as widely expected, the first-rate hike in near three years and the first major Asian economy to tighten its monetary policy since the pandemic began.
• The US economy advanced an annualized 6.6% on quarter in Q2 2021, slightly higher than 6.5% in the advance estimate but still below forecasts of 6.7%.

Corporate news

• PT Matahari Department Store Tbk (LPPF) posted a slick performance with soaring revenue and the company's profit turned around in the first semester of 2021. LPPF posted an increase in net income of 58.44 percent to IDR 3.57 trillion. Meanwhile, in the same period in 2020, the company generated IDR 2.25 trillion.
• PT Hero Supermarket Tbk (HERO) as of June 30, 2021 is still experiencing a decline in performance. It is noted that HERO posted a loss of IDR 551.08 billion during the first semester of 2021. The loss increased by 169.95% from the loss experienced by the company in the same period in 2020, which was IDR 204.14 billion.
• PT Paper Factory Tjiwi Kimia Tbk (TKIM) recorded a revenue growth of 16.46 percent and a net profit of 32.14 percent in the first semester of 2021. The issuer with stock code TKIM scored sales of US$ 524.11 million, up 16.46 percent year-on-year (yoy).
• PT Cisadane Sawit Raya (CSRA) in the first half of 2021 posted a net profit of IDR 83.45 billion, up 93.87 percent from the same period the previous year with a profit of IDR 43.04 billion.

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