Market Prediction
In the past week, JCI increased to above 4% and almost
touched level of 6,500.
The sectors that strengthened the most were energy and
financial sectors with an increase of more than 4%.
Meanwhile, this week JCI is at risk of being corrected. As
for some of the economic data that is expected this week,
Indonesia's retail sales data for August period, then the
Balance of Trade and export-import data for September
period.
JCI closed higher with a bullish candle. The stochastic
indicator is in the overbought area, MACD histogram is
moving positive (bullish line) and volume is increasing. If
JCI moves bullish again, it has the potential to strengthen
to test the resistance level at 6,504. If it succeeds moving
above that level, it can further strengthen to the
resistance at the range of 6,514 – 6,546. If JCI moves
bearish and breakdown below level 6,458, JCI is expected
to fall again to close the gap area to support at the range
of 6,416 – 6,436.
Commodities Review
- Oil prices skyrocketed at the weekend and pushed
them up about 4% this week as the global energy
crisis pushed US oil prices to their highest level in
nearly seven years. The support comes as big
power users struggle to keep up with demand.
Macro Economic News
- Indonesia's consumer confidence index
surged 18.2 points to 95.5 in September
from 77.3 in the previous month, amid
easing COVID-19 restrictions to contain the
spread of the coronavirus.
- The US economy added a meager 194K jobs
in September, of 2021, the lowest so far this
year and well below forecasts of 500K.
- Japan's current account surplus decreased
to JPY 1,665.6 billion in August 2021 from
JPY 2,085.2 billion in the same month of the
previous year and compared with market
expectations of a surplus of JPY 1,540.9
billion.
Corporate news
- PT Integra Indocabinet Tbk (WOOD) expanded its production capacity in line with growing demand,
especially from the export side. In the first semester of 2021, WOOD's export performance was able to
grow significantly by 114.5 percent with a contribution of 97.1 percent of total sales.
- MNC Vision Networks (IPTV) claims that the cancellation of the merger of Asia Vision Networks (AVN)
with Malaca Straits Acquisition Company (MLAC) is final. Therefore, the company has not considered the
possibility of continuing the merger plan.
- PT. Bundamedik Tbk (BHMS) plans to develop a number of fertility clinics in East Java and Bali.
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
