Market Prediction

At the end of 2021, the JCI closed lower by -0.29% or strengthened +10.08% (YTD) to 6,581.48. Foreign market players recorded a net sell of IDR 304.7 billion (all markets).

Wall Street's main indexes closed lower (DJI -0.16%, GSPC -0.26%, IXIC -0.61%) weakening due to high gains and a trigger for profit taking.

Today's market is expected to have a chance to strengthen if it doesn't break down to the nearest gap area.

JCI closed down with a bearish candle. The stochastic indicator is weak, MACD histogram is moving in a positive direction (sloping line) and volume is falling. If JCI moves to a bearish candle and goes down below level 6,575, it can continue down to support at the range of 6,529 – 6,554. If JCI moves bullish and is able to stay above level 6,575, there is a chance for JCI to strengthen to the resistance at the range of 6,613 – 6,621.

Commodities Review

• Oil prices fell on the last day of 2021. However, oil prices are set to post their biggest annual gain since at least 2016. The sentiment driving oil prices so far this year has been the global economic recovery from the Covid-19 pandemic slump and producer restraint, even as infections hit a record. highest in the world.
• Gold prices closed strong at the end of 2021. However, with these levels, gold marked the largest annual decline since 2015.

Macro Economic News

• The official NBS Manufacturing PMI for China rose to 50.3 in December 2021 from 50.1 in November, slightly above market expectations of 50.
• South Korea’s consumer prices rose 3.7 percent in December of 2021, above markets expectations of a 3.6 increase and remaining at a decade high.

Corporate news

• PT Golden Energy Mines Tbk (GEMS) recorded a positive performance for the first 11 months of 2021. GEMS posted consolidated revenue of US$D1 .44 billion during January-November 2021. This number grew by 50.66% when compared to the realization of GEMS revenue in January-November 2020 which amounted to USD 957.23 million.
• PT Wijaya Karya Beton Tbk (WTON) in the third quarter of 2021 which posted a net profit of IDR 54,01, a decrease of 1.6 percent compared to the same period in 2020 of IDR 54.91 trillion.
• PT Hasnur Internasional Shipping (HAIS) until the third quarter of 2021 recorded a consolidated net income of IDR 296.5 billion, up 34 percent compared to the same period last year. Then, the net profit collected was IDR 29.8 billion, aka an increase of 111 percent from the same period in 2020.
• PT J Resources Asia Pacific Tbk (PSAB) sold all shares owned by its subsidiary, PT J Resources Nusantara in PT Gorontalo Sejahtera Mining J Resources sold all shares of Gorontalo Sejahtera Mining to PT Andalan Bersama Investama with a total transaction value of IDR 2.13 trillion or equivalent to USD 150 million.

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