Market Prediction

Yesterday's trading, JCI closed slightly higher by 0.02% to a level of 6,603.80. The strengthening was supported by the release of November consumer confidence index data which increased to 118.5 from 113.4. Foreign market players recorded a net buy of IDR 2.52 trillion (all market), IDR 2.68 trillion (NG+TN).

Wall Street's main indexes closed higher again as investors welcomed the encouraging news about the Omicron variant and the prospect that the economic recovery could continue.

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

JCI closed slightly higher with a bearish candle. The stochastic indicator is bullish, MACD histogram is moving in a positive direction (bearish line) and volume is increasing. If JCI moves bullish again, there is a chance to strengthen again to the resistance at the range of 6,632 – 6,647. If JCI moves a bearish candle, the movement can return to the support at the range of 6,547 – 6,573.

Commodities Review

• Oil prices ended higher in a back-and-forth session on Wednesday, maintaining a positive tone as investors no longer expect the Omicron coronavirus variant to derail global economic growth.

Macro Economic News

• Indonesia's consumer confidence index increased 5.1 points to 118.5 in November from 113.4 in the previous month, amid easing COVID-19 restrictions to contain the spread of the coronavirus.
• The number of job openings in the US increased by 431,000 from a month earlier to 11.033 million in October of 2021, beating market expectations of 10.369 million.
• Japan's current account surplus decreased to JPY 1,018.7 billion in October 2021 from JPY 1,948.2 billion in the same month of the previous year and missing market expectations of a surplus of JPY 1,308 billion.
• The Japanese economy shrank 0.9% qoq in Q3 2021, compared with the flash estimate of a 0.8% fall and after an upwardly revised 0.5% growth in Q2, amid a resurgence of COVID-19 cases and persistent supply chain disruptions.

Corporate news

• PT Kimia Farma Tbk (KAEF) managed to record a slick performance during the first nine months of 2021 posted a net profit of IDR 301.9 billion per quarter III-2021. This number shot up 711% of the net profit in the same period last year of IDR 37.19 billion.
• PT Tower Bersama Infrastructure Tbk (TBIG) posted revenue of IDR 4.56 trillion during the first nine months of 2021, an increase of 15.86% year on year(yoy).
• PT Yelooo Integra Datanet Tbk (YELO) recorded a surge in net income of IDR 13.1 billion in 9M-2021 or grew nearly 500% from the record of net income of IDR 2.2 billion in the same period last year (YoY).
• PT Bank Syariah Indonesia Tbk (BRIS) until the third quarter of 2021, BSI recorded a savings growth of IDR 91.43 trillion compared to 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