Market Prediction
Last week, JCI rose 1.37% to the level of 6,286. The
sectoral indexes that surged last week were the energy
and industrial sectors with an increase of 17.76% and
7.10% respectively.
In addition, the increase in JCI was also driven by market
optimism in responding to the release of expansionary
manufacturing data above level of 52.2.
JCI closed down with a bearish candle. The stochastic
indicator is in the overbought area, MACD histogram is
moving positive (bullish line) and volume is falling. If JCI is
bullish again, it could strengthen again to the resistance at
the range of 6,286 – 6,306. If JCI moves bearish, JCI is
expected to fall again to close the gap area to support at
the range of 6,162 – 6,174.
Commodities Review
- Crude oil settled above US$ 75 per barrel at the
end of trading Friday (1/10/2021). The position
was slightly below a three-year high hit earlier this
week, amid expectations that OPEC ministers will
maintain a steady pace in increasing their supply.
Macro Economic News
- The Bank of Japan's index for big
manufacturers' sentiment rose to 18 in Q3
of 2021 from 14 in Q2 and above market
consensus of 13.
- The consumer confidence index in Japan
was up 1.1 points from the previous month
to 37.8 in September of 2021. It was the
strongest reading since February 2020.
- Indonesia's annual inflation inched up to
1.60 percent in September of 2021 but
slightly below forecasts of 1.69 percent.
- Personal spending in the US rose 0.8% mom
in August of 2021, rebounding from a 0.1%
drop in July and beating market forecasts of
a 0.6% gain, a sign the economic recovery is
gaining traction after a summer slowdown
due to the spread of the coronavirus delta
variant.
- Personal income in the United States rose
0.2 percent from a month earlier in August
2021, following a 1.1 percent advance in
July and slightly missing market
expectations of a 0.3 percent gain.
Corporate news
- The performance of PT Multi Indocitra Tbk (MICE) grew in the first semester of 2021. MICE posted net
sales of IDR 357.28 billion. The amount was raised by 8.45 percent compared to the same period last
year of IDR 329.41 billion.
- PT Central Telekomunikasi Indonesia Tbk (CENT) during the first six months of 2021 had to settle for a
loss for the current year which was recorded at IDR 238.81 billion, up from a net loss of IDR 21.81 billion
in the same period in 2020.
- PT Energi Mega Persada Tbk (ENRG) obtained a US$ 55 million loan facility from Deutsche Bank AG's
Singapore branch to finance the production of Bentu's gas assets.
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
