Market Prediction
Yesterday's trading, JCI closed lower by 0.59% to
6,636.47. Foreign market players recorded a net
sell again of IDR 417.93 billion (all market). Then BI
kept the interest rate at 3.5%. BI is optimistic about
economic activity in Q4 this year with the
expectation that exports, fiscal spending,
consumption and investment will contribute to
growth.
Wall Street's main indexes closed higher, except for
the Dow Jones, which was closed in the red zone.
The gains were due to strong earnings results
outweighing inflation concerns.
Today's focus from domestic is the release of
current account Q3 data.
JCI closed down with a bearish candle. The
stochastic indicator is weak, MACD histogram is
moving negative (line is weak) and volume is falling.
If JCI moves bearish, it could continue down to
support at the range of 6,651 – 6,592. If JCI moves
bullish again, there is a chance to further strengthen
to the resistance at the range of 6,669 – 6,679.
Commodities Review
- Global crude oil prices rose on Thursday
(11/18/2021), after dropping to six-week
lows as investors wondered how much
crude oil major economies would release
from their strategic reserves.
Macro Economic News
- The Bank of Indonesia held its key 7-day
reverse repurchase rate unchanged at an
all-time low of 3.5% on November 18th
2021, as expected, aiming to support
economic growth and maintain exchange
rate stability.
- The number of Americans filing new claims
for unemployment benefits fell by 1K to
268K in the week ended November 13th, a
new pandemic low, but less than market
expectations of 260K as employers avoid
layoffs and many workers quit.
Corporate news
- PT PP Presisi Tbk (PPRE) scored a significant performance growth during the first nine months of 2021.
PPRE's net profit jumped 246.67% year on year (yoy). PPRE pocketed a profit of up to IDR 56.48 billion.
In the same period the previous year, its profit was recorded at IDR 16.29 billion.
- PT Distribution Voucher Nusantara (DIVA) for the January-September 2021 period recorded revenues
of IDR 3.5 trillion. Soared 45.5 percent from the same period last year worth IDR 2.5 trillion.
- PT Krakatau Steel (KRAS) until October 2021 achieved sales of IDR 26.5 trillion as of October 2021, an
increase of 73.19 percent from the same period last year of IDR 15.3 trillion.
- PT Erajaya Swasembada Tbk (ERAA) is still running the agenda of adding new stores. Until the end of
September 2021, ERAA has opened 148 new outlets.
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
