Market Prediction

Yesterday's trading, JCI closed up 1.17% to 6,583.82. Foreign market players recorded a net buy of IDR 90.4 billion (all markets).

Wall Street's three main indexes managed to rebound after the previous sell-off. On the other hand, weekly jobless claims came in at 222,000, lower than expected and close to pre-pandemic levels, reflecting the continued recovery in the US labor market.

The market today has a chance to strengthen again and the movement will tend to be sideways.

JCI closed higher with a bullish candle. The stochastic indicator has a golden cross, MACD histogram is moving in a positive direction (bearish line) and volume is increasing slightly. If JCI moves bullish again, there is a chance to strengthen again to the resistance levels of 6,617 – 6,647. If JCI moves in a bearish candle, the movement can return to the support at the range of 6,533 – 6,544.

Commodities Review

• Crude oil prices rose on Thursday (2/12), snapping previous losses. OPEC+ sticks to its policy of gradually increasing production and as markets weigh whether the Omicron coronavirus variant may not be as bad as feared.
• Gold prices fell on Thursday's trading (2/12). Investors are betting the US Federal Reserve will reduce bond purchases more quickly to cope with a spike in inflation despite fears of an economic recovery amid the new variant of the Omicron coronavirus.

Macro Economic News

• The number of Americans filing new claims for unemployment benefits rose to 222 thousand in the week ending November 27th, from a five-decade low of 194 thousand in the previous period and below market expectations of 240 thousand.
• The consumer confidence index in Japan stood at 39.2 in November of 2021, unchanged from the previous month.

Corporate news

• PT Chitose Internasional Tbk (CINT) during the first nine months of 2021, recorded a net loss of IDR 25,863 billion, an increase compared to the same period in 2020, which only reached IDR 361.84 million.
• PT Megapolitan Development Tbk (EMDE) during the first nine months of 2021, still bears a net loss of IDR 47.768 billion. Although the loss was down 7.01 percent compared to the same period in 2020 which reached IDR 51.342 billion.
• PT Solusi Bangun Indonesia Tbk (SMCB) during the first nine months of 2021 recorded a profit for the period of IDR 459.12 billion. An increase of 4.7 percent compared to the same period last year of IDR 438.5 billion.
• PT MNC Vision Networks Tbk (IPTV) posted a YoY net profit of IDR 256.9 billion in 9M-2021, an increase of 9 percent compared to the previous IDR 236.1 billion 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