- Banking : Lending contracted -2.28% yoy in April
JCI to Move Sideways Today
US exchanges closed flat overnight; DJIA rose +0.03% to 34.323, followed by S&P 500 (+0.19%) and Nasdaq (+0.59%). The majority of investors still tend to choose to wait for the release of several economic data, such as initial jobless claims data for May-21, which is projected to reach 425 thousand (prev: 444 thousand) and pending home sales data for Apr-21, which is projected to grow +0.8% mom. (prev: +1.9% mom). On the commodity market, the price of WTI oil was recorded at USD 66/barrel, while the price of gold was recorded at USD 1,896/toz.
EIDO went up by +0.52%, while JCI closed up +0.91% to 5.815 at the end of trading last Tuesday (5/25), with ARTO, BMRI, TLKM as the top leading movers. Net foreign buy in the regular market was recorded at IDR 289.2 billion. The largest foreign inflow was recorded by ARTO (IDR 270.6 billion), followed by TLKM (IDR 45.4 billion), and MDKA (IDR 30.7 billion), while the largest foreign outflow was recorded by PGAS (IDR 76.2 billion), followed by BFIN (IDR 46.4 billion), and ASII (IDR 34.5 billion).
As many as 5,034 new COVID-19 cases were reported in Indonesia yesterday (5/26) (Tuesday: 5,060), with 3,189 patients recovered (Tuesday: 3,795) and 144 passed away (Tuesday: 172). With the addition of these new cases, the total number of COVID-19 cases found in Indonesia has now reached 1,791,221 cases, with a closed case ratio of 94.6% as of May 26 (May 25: 94.7%).
Today, we expect the JCI to move sideways, due to lack of global or domestic sentiments. However, the large net foreign buy value recorded in banking and commodity sectors could be an accumulation momentum for investors.d