Market Prediction
On trading Wednesday (6/10), JCI closed up 2.06% at the
level of 6,417, this level is the highest since six months of
trading. Today's data release is scheduled for Indonesia's
Foreign Exchange Reserves for September, which is
estimated to remain stable between US$ 143 billion to
US$ 145 billion.
In yesterday's trading, the stocks for CPO producers and
coal miners experienced a surge in line with the increase
in commodity prices.
JCI closed higher with a bullish candle. The stochastic
indicator is consolidating in the overbought area, MACD
histogram is moving positive (bullish line) and volume is
increasing. If JCI is bullish again and breaks up to level
6,441, it could further strengthen to the resistance at the
range of 6,472 – 6,504. If JCI moves bearish or fails to
break to level 6,441, JCI is expected to continue down to
support at the range of 6,307 – 6,342. It should be
anticipated when approaching the resistance area and
failing to break up due to profit taking action.
Commodities Review
- Gold prices rose in tight trading on Wednesday
(6/10), after falling US Treasury yields. Although
a stronger dollar capped gains in the safe-haven
metal, with investors awaiting US labor market
data due later this week.
- Oil prices fell nearly 2% on Wednesday (6/10) after
hitting multi-year highs. An unexpected rise in
United States (US) crude inventories prompted
buyers to take a breather after recent gains.
Macro Economic News
- The annual inflation rate in South Korea was
at 2.5 percent in September of 2021, little
changed from August's four-year high of 2.6
percent, remaining above the central bank's
annual 2 percent target for the sixth
consecutive month.
- Eurozone retail sales rose by 0.3 percent
from a month earlier in August 2021, trying
to recover from a revised 2.6 percent slump
in July but missing market expectations of a
0.8 percent growth.
Corporate news
- PT Mahaka Media Tbk (ABBA) obtained net sales of IDR 33.15 billion in the first quarter of this year, a
decrease of 19.51% from the achievement of the same period last year of IDR 41.19 billion.
- PT Sejahtera Anugrahjaya Tbk (SRAJ) until the first semester of 2021 posted a net profit of IDR 155.17
billion, an improvement compared to the same period in 2020 which recorded a net loss of IDR 62.976
billion.
- PT Wijaya Karya Beton Tbk (WTON) has won a new contract of IDR 3.56 trillion until September 2021.
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
