Market Prediction
Last Friday's trading, JCI closed up 1.26% to
6,720.26 (alltime high). The strengthening was
influenced by the release data of Indonesia's
current account surplus increased to USD 4.47
billion in the third quarter of 2021. Foreign market
players recorded a net sell-off again of IDR 142.22
billion (all markets).
Wall Street's main indexes closed mostly lower as
investors began to worry about the resurgence of
COVID and the potential for a return to lockdown.
Today, JCI has a chance to strengthen but is
overshadowed by profit taking.
JCI closed higher with a bullish candle. The
stochastic golden cross indicator, MACD histogram
is moving in a positive direction (sloping line) and
volume is increasing. If JCI moves bullish again,
there is a chance to further strengthen to the
resistance at the range of 6,743 – 6,784. If JCI moves
bearish, it could continue down to support at the
range of 6,675 – 6,687.
Commodities Review
- Oil prices slumped about 3 percent to
below $80 per barrel in late trading Friday,
due to soaring Covid-19 cases in Europe.
The surge in Covid-19 cases threatens to
slow the economic recovery, while
investors are also weighing the potential
release of oil reserves by major economies
to cool prices.
Macro Economic News
- Retail sales in the UK were up 0.8% mom in
October of 2021, the first gain in six months
and above forecasts of 0.5%, amid early
Christmas shopping.
- The United Kingdom’s GfK Consumer
Confidence index rose 3 points to -14 in
November 2021 from an 8-month low reading
of -17 in the previous month, and compared
with market expectations of a slight fall to -18.
- Indonesia's current account surplus increased
to USD 4.47 billion in the third quarter of 2021,
equivalent to 1.5 percent of GDP, from USD 1
billion in the corresponding quarter of the
previous year, as the goods surplus widened
sharply to USD 15.03 billion from USD 9.79
billion a year ago, amid a further recovery in
global demand and surging commodity prices,
while the secondary income surplus inched up
to USD 1.42 billion from USD 1.37 billion a year
earlier.
Corporate news
- PT Intiland Development Tbk (DILD) recorded a loss for the year attributable to owners of the parent
company of IDR 77.23 billion at the end of Q3/2021 from a profit of IDR 39.45 billion at the end of
Q3/2020.
- PT Darya-Varia Laboratoria TBK (DVLA) during the first nine months of 2021 achieved a profit for the
period of IDR 268.06 billion, an increase of 82.31 percent compared to the same period in 2020, which
was recorded at IDR 147.29 billion.
- PT MNC Studios International Tbk (MSIN) in the first nine months of 2021 posted a net profit growth of
70% YoY, from IDR 124.3 billion in 9M-2020 to IDR 211.2 billion in 9M-2021,
- PT Media Nusantara Citra Tbk (MNCN) posted a net profit growth of 25% YoY to IDR 1.81 trillion in 9M2021 from IDR1.44 trillion in the same period in the previous year. The Company's net profit margin also
showed positive results, amounting to 26% from 24% in the same period last year.
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
