Market Prediction
On Wednesday, JCI closed up 0.78% to 6,108.
On the other hand, Wall street indexes closed higher in
response to the Fed's move to maintain interest rates.
Other sentiments that have the potential to influence the
movement of Asian markets today are the plan to
implement Tapering in November 2021 and the Fed's
interest rate which is likely to rise next year but with a
note that inflation and labor data reach the target.
JCI closed higher with a bullish candle. The stochastic
indicator has a golden cross, MACD histogram is moving
negative (line is weak) and volume is increasing. If JCI
moves bullish again, there is a chance to strengthen again
to the resistance at 6,137, if it breaks that level, it can
continue to the level of 6,169. If JCI moves bearish, it could
weaken to support at the range of 6,059 – 6,068.
Commodities Review
- World crude oil prices jumped more than 2% at the
end of trading Wednesday (22/9), local time, after
supply in the US slumped to its lowest level in the
last three due to Hurricane Ida recently.
- The world nickel price strengthened, driven by the
world nickel deficit during the seven-month period
of the current year 2021. Yesterday's inventories
of nickel metal were the lowest in the last 20
months, pushing world nickel prices higher.
Macro Economic News
- Money Supply M2 in Indonesia increased to
7198900 IDR Billion in August from 7149173
IDR Billion in July of 2021.
- The People's Bank of China left its
benchmark interest rates for corporate and
household loans steady for a 17th straight
month at its September fixing, as widely
expected.
- The Bank of Japan left its key short-term
interest rate unchanged at -0.1% and kept
the target for the 10-year government bond
yield at around 0% during its September
meeting by an 8-1 vote, as expected.
Corporate news
- PT Mark Dynamics Indonesia Tbk (MARK) scored a significant performance improvement during the
pandemic. As of semester I/2021, MARK recorded an increase in export performance to IDR 399.8
million. This export performance increased from the same period in the previous year of IDR 182.8
billion.
- PT Lippo Karawaci Tbk (LPKR) is optimistic that it will soon reach this year's marketing sales target of
IDR 4.2 trillion. In Semester I/2021, LPKR recorded final income after deducting taxes of IDR 7.06 trillion,
experiencing a 33.96 percent revenue growth compared to the same period the previous year of IDR
5.27 trillion.
- PT Indika Energy Tbk (INDY) has expanded into the gold mining business, after taking over all shares of
the Australian mining company Nusantara Resources Limited (NUS).
- PT Metrodata Electronics Tbk (MTDL) injected the start-up company Kulawarga Asia Pte Ltd or Sayurbox
for USD 500,000 or around IDR 7 billion.
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
