{"id":2681,"date":"2021-08-18T14:22:27","date_gmt":"2021-08-18T07:22:27","guid":{"rendered":"https:\/\/star-am.com\/?p=2681"},"modified":"2023-08-22T03:02:42","modified_gmt":"2023-08-22T03:02:42","slug":"star-insight-market-update-16-agustus-2021","status":"publish","type":"post","link":"https:\/\/star-am.com\/id\/2021\/08\/18\/star-insight-market-update-16-agustus-2021\/","title":{"rendered":"STAR Insight, Market Update 16 Agustus 2021"},"content":{"rendered":"

<\/span><\/div><\/div><\/div>

JCI failed to break resistance<\/b><\/p>\n

    \n
  • U.S. stock market up while dollar and bond yield declined<\/b><\/li>\n
  • U.S. inflation is peaking while the tapering discussion continues.<\/span><\/b><\/li>\n
  • JCI\u2019s 6,200 psychological resistance remained strong<\/b><\/span><\/li>\n<\/ul>\n

    US CPI slowed, stock and treasury prices were up<\/b><\/p>\n

    US CPI was indicated at 0.5% MoM in July, in line with the consensus, even though below the prior period of 0.9%, while PPI Final Demand MoM in July <\/span>was recorded at 1%, higher than the consensus forecast of 0.6%. Slower <\/span>than expected inflation pared fear of early tempering which supported the <\/span>S&P 500 to increase by 0.7% and Dow Jones by 0.9% last week. Materials <\/span>and Industrials sectors led the positive performance on S&P500, increasing <\/span>by 2.81% and 1.77%, respectively. US Dollar index was slightly down last <\/span>week, decreased by 0.24%, while 10Y treasury yield decreased by 2.02bps <\/span>to 1.27%. However, we note that the consensus remained optimistic on US <\/span>economic growth while inflation is expected to remain high in 2022.<\/span><\/p>\n

    Tapering timeline in discussion as inflation peaked<\/b><\/p>\n

    Several U.S. central banks officials stated that the Feds should start withdrawing their support since the U.S. economy is growing steadily and <\/span>the labor market is rebounding. Policymakers are in the process of <\/span>discussing how and when they should begin cutting massive asset <\/span>purchases which started last year to stabilize financial markets and support <\/span>the economy through COVID-19. There is a range of views, with several Fed <\/span>executives supporting cutting bond purchases in the near time, and start <\/span>tapering near the end of the year. The Fed started to help the economy by <\/span>purchasing $120 billion government bonds last year until progress is shown <\/span>in inflation and employment goals. Inflation has spiked this year as the <\/span>economy reopened which was also caused by ongoing supply chain strains. <\/span>However, as inflation is peaking, the U.S. labor market is still short about 6 <\/span>million jobs from its pre-pandemic levels.<\/span><\/p>\n

    JCI failed to break the technical resistance level
    \n<\/b><\/p>\n

    JCI dropped 1% last week and failed to break its resistance and psychological level at 6,200 with technology (-7.45%), healthcare (-1.6%), <\/span>and financials (-1.25%) sectors dropped the most. Foreign investors <\/span>recorded a net sell of Rp245bn in the regular market with the biggest net-sell <\/span>on BUKA (Rp1.33tn), BBRI (Rp90.5bn), BABP (Rp89.8bn), and TLKM <\/span>(Rp65.6bn). Nonetheless, we note more positive news from Indonesia’s <\/span>vaccination program with 10.3% of the Indonesian population has been <\/span>vaccinated (as of 14Aug), almost doubled from 5.9% in mid-July.<\/span><\/p>\n

    Bank Indonesia is expected to keep its benchmark interest rate at 3.5% at the meeting this week, as it would likely support economic recovery without <\/span>adding pressure to the currency. Last week, Indonesia’s 10Y government <\/span>bond yield increased 6.4bps as foreign investors recorded a net sell of <\/span>Rp2.75tn from Indonesia’s government bond market.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>

    <\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":1619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update"],"acf":[],"yoast_head":"\nSTAR Insight, Market Update 16 Agustus 2021 - Star Asset Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/star-am.com\/id\/2021\/08\/18\/star-insight-market-update-16-agustus-2021\/\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STAR Insight, Market Update 16 Agustus 2021 - Star Asset Management\" \/>\n<meta property=\"og:url\" content=\"https:\/\/star-am.com\/id\/2021\/08\/18\/star-insight-market-update-16-agustus-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Star Asset Management\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-18T07:22:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-22T03:02:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/star-am.com\/wp-content\/uploads\/2023\/08\/Rectangle-3-2.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"770\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"IT Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"IT Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/star-am.com\/id\/2021\/08\/18\/star-insight-market-update-16-agustus-2021\/\",\"url\":\"https:\/\/star-am.com\/id\/2021\/08\/18\/star-insight-market-update-16-agustus-2021\/\",\"name\":\"STAR Insight, Market Update 16 Agustus 2021 - 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