Market Prediction
US stock indexes broke record moves higher on Thursday
after jobless claims data showed the US labor market was
improving even as COVID-19 infections were surging.
On the other hand, economic data from Asia and Europe
were mostly disappointing due to the spike in the third
wave of infection cases in the world.
JCI successfully closed down with a bearish candle. The
stochastic indicator is weak, MACD histogram is moving
negative (line is sloping) and volume is falling. If JCI is able
to move higher to the resistance levels of 6,110 – 6,134. If
JCI in bearish candle again, it will test support level at the
range of 6,021 – 6,048.
Commodities Review
- Oil prices closed up more than US$ 1 per barrel in
the previous trading session. The rebound came
amid optimism about global economic growth
despite the surging coronavirus pandemic and
after US crude inventories fell more than
anticipated.
- Gold prices closed lower as investors ignored the
weakness in the US dollar and took short positions
with the focus still on non-farm payrolls data
released today, which could determine the
tapering US Federal Reserve's.
Macro Economic News
- South Korea’s GDP grew 0.8 percent on
quarter in the three months to June of 2021,
compared to 1.7 percent expansion in the
previous period and to a preliminary
reading of 0.7 percent.
- The US trade deficit narrowed to $70 billion
in July of 2021, slightly below market
forecasts of a $71 billion gap, mainly due to
a drop in the goods deficit to $87.7 billion
and a decrease in the services surplus to
$17.7 billion.
- The number of Americans filing new claims
for unemployment benefits declined to 340
thousand in the week ending August 28th,
its lowest level since March 2020 and below
market consensus of 345 thousand, as the
labor market consolidated its recovery
following business reopenings in the US and
despite lingering concerns over the ongoing
COVID-19 resurgence.
Corporate news
- PT Indomobil Multi Jasa Tbk (IMJS) earned a total revenue of IDR 1.96 trillion in the first half of 2021,
down 8.45% from revenue in the same period in 2020 of IDR 2.13 trillion.
- PT Resource Alam Indonesia Tbk (KKGI) recorded sales of 1.33 million tons of coal during the first
semester of 2021. This achievement was 22.30% lower than the sales volume in the same period the
previous year of 1.71 million tons.
- Sales of PT Triniti Dinamik (TRUE) in the first half of 2021 jumped 43 percent to IDR 146.83 billion
compared to the same period 2020.
- PT Citra Marga Nusaphala Persada (CMNP) disbursed loans to two business entities of IDR 2.46 trillion.
The loan ceiling for Citra Marga across West Java is IDR 560 billion, and Citra Waspphutowa IDR 1.9
trillion.
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
