Market Prediction

Yesterday's trading, JCI closed up +1.27% to 6,665.31. Foreign market players recorded a net buy of IDR 346.13 billion (all markets).

Wall Street's main indexes closed at the start of the year with record highs (DJI +0.68%, GSPC +0.64%, IXIC +1.20%). This strengthening was driven by investors' continued optimism about the economic recovery that was still continuing but continued to monitor developments on the omicron coronavirus.

Today's market is expected to continue to strengthen in line with market optimism amid concerns about the omicron virus.

JCI closed higher with a bullish candle. The stochastic indicator is bullish, MACD histogram is moving positive (golden cross line) and volume is down. If JCI moves bullish again, there is a chance for the rally to continue or strengthen to the resistance at the range of 6,692 - 6,714. If JCI moves a bearish candle, it can move at support at the range of 6,613 – 6,621.

Commodities Review

• Gold extended its decline heading into 2022, falling by more than 1% on Monday as a risk-on rally in equities pressured bullion, with investors shrugging off concerns surrounding the omicron coronavirus variant.

Macro Economic News

• The IHS Markit South Korea Manufacturing PMI rose to a three-month high of 51.9 in December 2021 from 50.9 in November
• Indonesia's annual inflation rose to an 18-month high of 1.87% in December of 2021 from 1.75% in November and compared with market consensus of 1.8%, as consumption strengthened during Christmas and end-year holidays on the back of a further easing in pandemic curbs.
• The IHS Markit US Manufacturing PMI was revised slightly lower to 57.7 in December of 2021 from a preliminary of 57.8, still pointing to a strong expansion in factory activity.

Corporate news

• PT Bumi Serpong Damai Tbk (BSDE) recorded a profit for the period attributable to owners of the parent entity of IDR 930.77 billion as of September 30, 2021, or an increase of 154.19 percent compared to the same period in 2020, which recorded a net profit of IDR 366.17 billion. .
• PT Indonesia Vehicle Terminal Tbk (IPCC) as of the third quarter of 2021 managed to turn around from a loss of IDR 32.73 billion in the previous year, to a profit of IDR 16.60 billion. In terms of revenue, in the nine-month period IPCC recorded IDR 347.77 billion.
• PT Centratama Telekomunikasi Indonesia Tbk (CENT) through its subsidiary, PT Centratama Menara Indonesia (CMI) will buy 1,000 shares of PT EPID Menara AssetCo. The number of shares represents 100% of the issued and paid-up capital in PT EPID Menara AssetCo.
• PT Indonesia Paradise Property (INPP) received a credit facility of IDR 150 billion. The fresh funds were obtained from Bank Woori Saudara Indonesia (SDRA).

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