Market Prediction
In the past week, JCI managed to gain 0.19% to the level
of 6,114. The energy sector recorded an increase of 6.74%
and was followed by the cyclical consumer sector at
3.39%. The strengthening in the mining sector was due to
an increase in shares of ADRO of 12.36%, PTBA of 5.6%
and ITMG at 3.51%.
Meanwhile, this week, some of Indonesia's economic data
as of September that may affect the index are from the
Manufacturing PMI, which seems to be still in a contracted
condition and the inflation rate is still low.
JCI closed slightly higher with a bullish candle. The bullish
stochastic indicator is in the overbought area, MACD
histogram is moving positive (line flat) and volume is
down. If JCI moves bullish again, there is a chance to
strengthen again to the resistance at the range of 6,169 –
6,179. If JCI moves bearish, JCI could drop to the support
levels of 6,059 – 6,117.
Commodities Review
- Oil prices rose for a third week in a row to a
nearly three-year high on Friday. Global
production disruptions have forced energy
companies to pull large quantities of crude from
inventories. The rise in oil prices was slightly
dampened by the first public sale of the country's
crude reserves in China.
- Gold prices last week only moved slightly. In the
week, spot gold prices fell 0.22%. The weakening
of gold prices occurred amid the strengthening of
the United States (US) dollar exchange rate.
Investors shun risky assets because of fears of
default and the spillover effect of China's
Evergrande. The looming increase in interest rates
is also a barrier to gold prices last week.
Macro Economic News
- The United Kingdom’s GfK Consumer
Confidence index declined to -13 in
September of 2021 from -8 in the previous
month, below market expectations of -8. It
was the lowest reading since April and the
biggest monthly drop since October 2020
amid growing worries over energy bills,
food costs and tax hikes.
- Japan's consumer prices declined by 0.4%
yoy in August 2021, after a 0.3% drop a
month earlier. This was the eleventh
straight month of decrease in consumer
prices, amid weakening consumption due to
the ongoing COVID-19 pandemic.
- Producer prices in South Korea rose 0.4
percent from a month earlier in August of
2021, extending their monthly gains for the
tenth straight month and following an
upwardly revised 1 percent gain in July.
Corporate news
- PT Pinago Utama Tbk (PNGO) managed to score a satisfactory performance in the first half of this year,
which recorded a net profit for the year attributable to owners of the parent entity of IDR 120.21 billion.
Meanwhile, as of June 30, 2020, this company still suffered a loss of IDR 2.18 billion.
- PT Indocement Tunggal Prakarsa Tbk (INTP) managed to record cement sales of 1.5 million tons in the
period August 2021. This realization rose 7% from sales in July 2021 and matched sales figures in August
last year.
- PT Multistrada Arah Sarana Tbk (MASA) reported a brilliant performance in the first half of the year.
Revenue rose 84 percent to IDR 2.82 trillion and posted a net profit of IDR 558.2 billion from a loss in the
first half of last year.
- PT Waskita Karya Tbk (WSKT) reversed a loss position into profit in the first semester of 2021. Based on
the financial report as of June 30, 2021, WSKT posted a net profit of IDR 154.13 billion or a contrast from
a loss of IDR 1.09 trillion in the first semester of 2020.
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
