Market Prediction
In yesterday's trading, JCI managed to stay at the highest
level year to date above level of 6,600. Meanwhile, in a
month, foreign market players have recorded a netbuy of
IDR 4.75 trillion.
Covid infection rate is showing a very controlled number,
and market players are optimistic that the government
may be able to loosen restriction soon to encourage
economic activity.
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 falling. If JCI
moves bullish again, there is a chance to test the
resistance at the range of 6,686 – 6,693 (If JCI able to
breaks up, it become all time high). If it moves bearish, JCI
can go down first to the support at the range of 6,593 –
6,600.
Commodities Review
- Oil prices rebounded from the previous session's
losses in late trading Thursday (10/14/2021)
United States time, after major oil producer Saudi
Arabia rejected calls for additional OPEC+ supplies.
Macro Economic News
- China's annual inflation rate unexpectedly
edged lower to 0.7% in September 2021
from 0.8% a month earlier and compared
with market estimates of 0.9%.
- China's producer prices increased by 10.7%
year-on-year in September 2021, beating
market expectations of a 10.5% rise and
August's figure of a 9.5% gain.
- The number of Americans filing new claims
for unemployment benefits fell to 293
thousand in the week ending October 9th,
the lowest level since the pandemic hit the
US economy in March 2020 and well below
market expectations of 319 thousand.
Corporate news
- PT Sunindo Adipersada Tbk (TOYS) plans to expand its market. TOYS will explore Africa as a new market.
- PT Chandra Asri Petrochemical Tbk (TPIA) posted revenues of US$ 1.26 billion in the first half of 2021.
This number increased by 50 percent from the realization of revenue in the same period last year of US$
839.3 million.
- PT Waskita Karya (WSKT) signed a Letter of Intent (LoI) with a Turkish infrastructure contractor named
Nurol. This is done to expand the company's business scope.
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
