Market Prediction
In yesterday's trading, JCI managed to rebound slightly at
the level of 6,126 and briefly dropped from its lowest
position at 6,100.
Today, scheduled for the release of Indonesia's Foreign
Exchange Reserves data for the period of August, this data
is expected to experience a slight increase compared to
the previous period.
The rate of infection cases in Indonesia has begun to
decline, but the government must remain alert due to the
emergence of a new variant, the Mu type. The World
Health Organization (WHO) has marked the Mu variant of
the coronavirus as a "variant of interest". This variant is
reported to have spread throughout Chile, Peru, and parts
of the US and Europe.
JCI closed stagnant with a bearish candle. The stochastic
indicator is neutral, MACD histogram is moving in a
positive direction (the line is weak) and volume is falling.
JCI still has a limited chance to strengthen again. The
resistance levels are at the range of 6,169 – 6,190.
Meanwhile, if JCI goes down to support, the observed
support level is in the range of 5,985 – 6,015.
Commodities Review
- Gold prices tended to weaken at the beginning of
the week because the United States (US) dollar
strengthened. But fresh bets that the Federal
Reserve might slow down measures that cut
support for the pandemic-driven economy kept
gold near its highest level in 2.5 months.
- Crude oil prices weakened in early trading after
Saudi Arabia made a sharp cut to the price of crude
oil contracts for the Asian region to revive
concerns over the demand outlook.
Macro Economic News
- The IHS Markit/CIPS UK Construction PMI
dropped to 55.2 in August 2021, from 58.7
in the previous month and below market
expectations of 56.9.
Corporate news
- PT Petrosea (PTRO) is in synergy with PT Xapiens Teknologi Indonesia (XTI). The managed service
agreement is worth IDR 188.06 billion. Following the agreement, Xapiens will provide services to support
the company's activities.
- PT Adaro Energy Tbk (ADRO) recorded coal production in 1H21 of 26.49 million tons, or 3% lower YoY
and coal sales in 1H21 of 25.78 million tons, down 5% YoY.
- PT Enseval Putra Megatrading Tbk (EPMT) stated that it has formed a subsidiary with Global Chemindo
Megatrading. The company is engaged in transportation and warehousing, financial and insurance
activities, information, communication, and retail trading as of September 3, 2021.
- Surya Semesta Internusa (SSIA) in the first half of 2021 posted consolidated revenues of IDR 871.0
billion. This income decreased 40.6 percent from the same period in 2020 at the level of IDR 1.46 trillion.
PT Kiwoom Sekuritas Indonesia (KSI)
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