Market Prediction

JCI closed down -0.36% to lecel 6,122. Meanwhile, the financial and technology sectors fell the most compared to other sectors with a decline of -0.72% and -0.84%, respectively.

On the other hand, Wall Street's stock market closed varied, apart from the tapering sentiment of the Federal Reserve (The Fed) and the Evergrande crisis, the market was also influenced by a number of fiscal and monetary policies in the US.

JCI closed down with a bearish candle. Stochastic deadcross indicator, MACD histogram is moving positive (line flat) and volume is increasing. If JCI moves bearish, JCI is expected to decline to support at the range of 6,068 – 6,086. If JCI moves bullish again, it could strengthen again to the resistance at the range of 6,148 – 6,163.

Commodities Review

• The price of Brent crude oil touched its highest level since October 2018 in trading Monday (2/9/2021), as investors worried about tight supply amid rising demand in some parts of the world.

Macro Economic News

• New orders for US durable goods surged 1.8% mom in August of 2021, following an upwardly revised 0.5% rise in July, and beating market forecasts of a 0.7% increase. 

Corporate news

• PT Rockfields Properti Indonesia Tbk (ROCK) until the first semester of 2021 recorded a net profit of IDR 2.841 billion, a decrease of 64.32 percent compared to the same period in 2020 which was IDR 7.964 billion.
• The expansion plan of PT Erajaya Swasembada Tbk (ERAA) was hampered during the period of the implementation of restrictions on public activities (PPKM) in the third quarter. One of the hampered expansions is the addition of new outlets.
• PT. Adi Sarana Armada Tbk (ASSA) provides loans to its subsidiary, PT. Autopedia Sukses Lestari amounting to Rp4 billion with an interest of 8.25% per year to support business activities in the used car retail trade.

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