Market Prediction

Indonesian government announced that the PPKM policy was extended until September 6, accompanied by various loosening for activities.

Currently active cases are in a downward trend, and the government also claims that Indonesia's cure rate is 91%.

This of course will provide positive sentiment for JCI, but it is still in a conservative range because the market seems to have started to accumulate purchases where yesterday JCI has managed to rise above 1.7%.

JCI closed higher with a bullish candle and breakup to the resistance at level of 6,138. The stochastic golden cross indicator, MACD histogram is moving in a positive direction (potential golden cross line) and volume is increasing. If JCI is able to move bullish again or stay above level 6,138, there is a chance to move higher to the resistance at the range of 6,179 – 6,203. If KCI moves bearish again and breaks down below level 6,138, it can continue to go down to support levels of 6,097 – 6,114.

Commodities Review

• Crude oil prices closed higher in trading earlier this week. The main sentiment came after refineries and pipelines on the US Gulf Coast grappled with uncertainty over scheduled restart after Hurricane Ida wreaked havoc on the region.

Macro Economic News

• Retail sales in Japan rose by 2.4 percent year-on-year in July 2021, above market expectations of 2.1 percent and after a 0.1 percent in the prior month.
• The consumer confidence indicator in the Euro Area was confirmed at -5.3 in August 2021, down from -4.4 in the previous month, reflecting a decrease in households’ intentions to make major purchases and especially their expectations about the general economic situation.

Corporate news

• PT Greenwood Sejahtera Tbk (GWSA) posted an operating income of IDR 25.3 billion in the first semester of 2021. This amount was recorded to increase by 20.6% compared to the same period in the previous year which amounted to IDR 20.9 billion.
• PT Gaya Abadi Perfect Tbk (SLIS) posted a sales increase of 22.60% to IDR 219.99 billion in the first semester of 2021. Meanwhile, in the same period last year, SLIS sales only reached IDR 179.42 billion.
• The performance of PT Surya Esa Perkasa Tbk (ESSA) was still under pressure throughout the first semester of 2021. ESSA posted a net loss attributable to owners of the parent company of US$ 10.72 million, an increase from a net loss in the first semester of 2020 of US$ 5.77 million.
• PT Aneka Gas Industri Tbk (AGII) made a good performance throughout the first semester of 2021. AGII's net profit reached IDR 94.89 billion in the January-June 2021 period. This realization rose 468.1% from net profit in the same period the previous year, which was only IDR 16.70 billion.

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