Market Prediction

Yesterday's trading, JCI closed up 0.57% to 6,669.93. Meanwhile, foreign market players recorded net sell actions worth 1.39 trillion (all markets), net sell 2.02 trillion (NG+TN) & net buy 630 billion (regular). The stocks that been net sell from foreign market players in the non-regular market : CPRO, MTLA & ARTO.

Wall Street's major indexes all closed in the red zone. The decline was due to profit-taking and concerns over rising inflation. US October inflation rose in line with market forecasts of 0.6% MoM.

Commodities Review

• Global crude oil prices are still moving in the green zone despite the United States urging OPEC+ members to immediately increase supply. The affirmation of OPEC+'s stance to maintain production policy, as well as the potential obstruction of Iranian barrels to the global oil market provided support to oil prices.

Macro Economic News

• Retail sales in Indonesia dropped by 2.2 percent year-on-year in September of 2021 after a 2.1 percent fall a month earlier.
• Japan's current account surplus decreased to JPY 1,033.7 billion in September 2021 from JPY 1,501.3 billion in the same month of the previous year and compared with market expectations of a surplus of JPY 1,060.1 billion.
• Producer prices for final demand in the US increased 0.6% mom in October of 2021, in line with forecasts and following a 0.5% rise in September.

Corporate news

• PT Elnusa Tbk (ELSA) until the third quarter of 2021 recorded a net profit of IDR 37.557 billion, a drop of 80.21 percent compared to the same period in 2020 which still recorded a profit of IDR 187.019 billion.
• PT Xl Axiata Tbk (EXCL) during the first nine months of 2021 recorded a profit attributable to owners of the parent entity which fell 51.01 percent to IDR 1.01 trillion compared to the same period in 2020 of IDR 2.07 trillion.
• PT Lautan Luas Tbk (LTLS) provided loans to its subsidiary, Lautan Luas Singapore Pte. Ltd. on November 8, 2021, amounting to USD 2 million for working capital needs with a tenor of one year.
• Export sales of PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) in the third quarter of 2021 experienced a large spike. Exports grew 39 percent and currently its contribution to total sales is still less than 5 percent.

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