Market Prediction
On Thursday (21/10), JCI closed down 0.35% to the level
of 6,632. The market sold off stocks that had experienced
a large increase.
The sectors that fell the most were energy and industrials
sectors with a decline of 3.26% and 2.69% respectively.
Construction stocks in yesterday's trading also fell due to
the selling action in WIKA, WSKT and ADHI which fell more
than 5%.
JCI closed down with a bearish candle. The stochastic
indicator is dead cross, MACD histogram is moving
positive (bullish line) and volume is increasing. If JCI moves
bearish again and breakdown to level 6,602, it could
continue to support at 6,573 and support II at 6,536. If JCI
moves bullish again, there is a chance to test the
resistance at the range of 6,687 – 6,693.
Commodities Review
- Coal price has tumbled on fears of China’s
government intervention in the strained energy
sector, as Beijing seeks rein in electricity costs and
stem a crisis that has hobbled the country’s
economy growth.
Macro Economic News
- The number of Americans filing new claims
for unemployment benefits fell to 290
thousand in the week ending October 16th,
the lowest level since March 2020 and
below market expectations of 300 thousand
as employers retain workers due to an
acute labor shortage.
- Existing home sales in the US unexpectedly
jumped 7% to a seasonally adjusted annual
rate of 6.29 million units in September of
2021, the strongest level in 8 months.
Corporate news
- Cement sales of PT Indocement Tunggal Prakarsa Tbk (INTP) again recorded positive growth. INTP
recorded cement sales in the September 2021 period of 1.6 million tons of cement. Sales realization in
September 2021 was about 5% higher than last month's achievement.
- PT Eastparc Hotel Tbk (EAST) as of September 2021 recorded revenue from room rentals of IDR 19.69
billion. This realization increased by around 47.71 percent from room rental income a year earlier, which
was IDR 13.33 billion.
- PT Bank Tabungan Negara (Persero) Tbk. (BBTN) managed to record a positive performance throughout
the January-September 2021 period which managed to record a net profit growth of 35.32% year-onyear (yoy) to IDR 1.52 trillion compared to the same period last year of IDR 1.12. trillion. The increase in
net profit was supported by growth in lending and cost of funds (CoF) efficiency.
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
