Market Prediction
JCI closed down 0.24% on Tuesday at the level of 6,112
amid the release of foreign exchange reserves per Aug of
$144.8Bn, up from the previous period of $137.3Bn. The
position of Cadev Indonesia is the highest in history. The
increase in foreign exchange reserves was due to an
additional Special Drawing Rights (SDR) allocation of 4.46
billion SDR, equivalent to US$ 6.31 billion received by
Indonesia from IMF.
Meanwhile, today is the scheduled release of Indonesian
Consumer confidence data for the period of August.
From the condition of US stock market, the three major
indexes moved mostly lower due to the increasing
infection rate of the delta variant. In addition, US
economic growth is trimmed with a projection of 5.7% YoY
in 2021, below the consensus of 6.2%.
JCI closed down with a bearish candle. The stochastic
indicator is flat, MACD histogram is moving in a positive
direction (the line is weakening) and volume is increasing
slightly. If JCI is bearish again and breakdown below level
6,100, it is expected to move to support at the range of
6,048 - 6,056. If it is able to move bullishly, there is still a
chance for JCI to strengthen again, to the resistance at the
range of 6,150 - 6,169.
Commodities Review
- Oil prices fell on Tuesday (7/9), extending losses
from the previous session. A sharp fall in the price
of Saudi Arabia's crude contract for Asia stoked
concerns over slower demand, but strong
Chinese economic data and a US production
shutdown limited losses.
- Gold prices dipped more than 1% on Tuesday (7/9)
trading and are on track for their biggest intraday
decline in a month. A stronger United States (US)
dollar and higher yields take away gold's shine.
Macro Economic News
- South Korea’s current account surplus
widened to USD 8.21 billion in July of 2021
from USD 7.03 billion in the corresponding
month of the previous year.
- China's trade surplus was at USD 58.34
billion in August 2021, above market
consensus of USD 51.05 billion and
compared with a surplus of USD 57.14
billion in the same month a year earlier.
- Foreign Exchange Reserves in Indonesia
increased to 144800 USD Million in August
from 137342.89 USD Million in July of 2021.
Corporate news
- PT Duta Pertiwi Tbk (DUTI) posted a 2% decrease in operating income in the first semester of 2021. The
operating income was recorded at around IDR 701 billion from the same period in 2020 which was IDR
718 billion.
- PT Mitra Pinasthika Mustika Tbk (MPMX) made a positive performance throughout the first half of this
year. MPMX posted a net income of IDR 6.44 trillion, up 18.38 percent from the same period last year.
- PT Gudang Garam Tbk (GGRM) recorded a decline in net profit in the first semester of 2021. The net
profit recorded by GGRM reached IDR 2.3 trillion, down 39.5% year on year (yoy).
- PT Semen Baturaja Tbk (SMBR) managed to record a satisfactory performance in the first half of this
year. SMBR succeeded in achieving the company's cement production volume of 861,334 tons or grew
16% from the previous 744,275 tons in the first half of 2020. Likewise with the sales, which managed to
increase 14% to 850,484 tons compared to the same period last year of 746,612 tons.
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
