{"id":11555,"date":"2022-01-05T00:00:00","date_gmt":"2022-01-04T17:00:00","guid":{"rendered":"https:\/\/wadidaw.site\/mandiri\/uncategorized\/equity-market-commentary-dec-2021\/"},"modified":"2026-01-28T16:10:57","modified_gmt":"2026-01-28T09:10:57","slug":"equity-market-commentary-dec-2021","status":"publish","type":"post","link":"https:\/\/mandiri-invest.azdevs.my.id\/en\/articles\/equity-market-commentary-dec-2021\/","title":{"rendered":"Equity Market Commentary : December 2021"},"content":{"rendered":"

Solid Ending\u00a0<\/strong>(Global Equity Market)<\/h2>\n

 <\/p>\n

The global indexes have concluded 2021 with a higher level than 2020, especially in December. Investors turned positive in December after the Fed gave certainty to expedite tapering as inflation still elevated. At the same time, the FOMC dots show the sign of a high chance rate hike 3 times in 2022 and 2023. That is a good signal for the global equity market where investors can expect the Fed action through the monetary policy before the US economy gets overheating as reflected in the current steady economic improvement. We see there will be more discussion on how early the rate hike should be conducted after tapering ends in March 2022. US inflation is expected to calm at end of the first quarter of 2022 as the shipping cost and commodity price normalized. US employment will get better as more people get vaccinated. Additionally, the omicron variant is forecasted to assist global society to reach herd immunity faster than expected before. We believe that equities should do well in an environment of rising inflation, as rising sales tend to offset higher input prices, which can then be passed onto customers when demand is strong. Overall, equities have had a strong year to date performance and while we wouldn\u2019t be surprised to see some volatility along the way. We believe that strong economic growth accompanied by the still relatively accommodative monetary policy will provide support to equity markets.<\/p>\n

 <\/p>\n

Descent Closing (Domestic Equity Market)<\/h2>\n

 <\/p>\n

The Indonesian equity market has ended 2021 with a better position than 2020 reflecting a stronger fundamental economy. JCI and LQ45 have made a rally at the beginning of December with optimism that the Covid-19 omicron variant can be tamed with existing vaccines through booster shots. However, as the number of infected patients increased globally, investors have trimmed EM and Indonesia equity to avoid risks that happened like previous Covid-19 pandemic waves. Thus, JCI inched up slightly at the end of December. So far, Indonesia has reported a low infection rate (below 200 cases\/day). The government has managed the long holiday quite well and we hope there won\u2019t be another wave attack Indonesia after the long holiday. Until the end of December, the vaccination rate for the first shot reached 76% while the second shot was 54% and the booster shot 88% for targeted medical workers. Loan growth continues improving led by working capital and consumption, while consumer confidence maintains at the highest level in 2021. Retail sales also continue to recover amid improving mobility. We can expect Indonesia equity can rally once the omicron is manageable and investors face 2022 with new optimism. We set JCI 2022 target at a range of 7,200 \u2013 7,600 with EPS growth of 15% and PE valuation range between mean at16x and standard deviation +1 at 17x.<\/p>\n

 <\/p>\n

Rekomendasi Produk<\/h2>\n

 <\/p>\n\n\n\n\n\n\n
PRODUK<\/th>\n<\/tr>\n<\/thead>\n
MGSED<\/a><\/td>\nReksa Dana MGSED berinvestasi pada Efek Ekuitas Syariah Luar Negeri di dalam Daftar Efek Syariah.
\nDengan segmen Jangka Panjang, dan dikategorikan berisiko tinggi. Investor memiliki risiko atas portofolio saham tersebut.<\/td>\n<\/tr>\n
MITRA<\/a><\/td>\nReksa Dana MITRA berinvestasi pada saham domestik mayoritas saham Big Cap.
\nDengan segmen Jangka Panjang, dan dikategorikan berisiko tinggi. Investor memiliki risiko atas portofolio saham tersebut.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n

<\/h3>\n

Info lebih lanjut<\/h3>\n

Hubungi Mandiri Investasi –\u00a0(021) 526 3505<\/a>
\nMandiri Investasi –\u00a0www.mandiri-investasi.co.id<\/a>
\nMoinves –\u00a0www.moinves.co.id<\/a><\/p>\n

 <\/p>\n

\n

 <\/p>\n

DISCLAIMER<\/em>
\n
\nPendapat yang diungkapkan dalam artikel adalah untuk tujuan informasi umum saja dan tidak dimaksudkan untuk memberikan saran atau rekomendasi khusus untuk individu atau produk keamanan atau investasi tertentu. Ini hanya dimaksudkan untuk memberikan edukasi tentang industri keuangan. Pandangan yang tercermin dalam konten dapat berubah sewaktu-waktu tanpa pemberitahuan. Seluruh data kinerja dan return investasi yang tertera di artikel ini tidak dapat digunakan sebagai dasar jaminan perhitungan untuk membeli atau menjual suatu efek. Data tersebut merupakan catatan kinerja berdasarkan data historis dan bukan merupakan jaminan atas kinerja suatu efek di masa mendatang. Investasi melalui reksa dana mengandung risiko. Investor wajib membaca dan memahami prospektus sebelum memutuskan untuk berinvestasi melalui reksa dana.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Indonesian stock market ended 2021 in a better position than 2020 reflecting stronger economic fundamentals<\/p>\n","protected":false},"author":2,"featured_media":11556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[366,382],"tags":[365],"class_list":["post-11555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-market-update","tag-english"],"acf":[],"yoast_head":"\nEquity Market Commentary : December 2021 - Mandiri Investasi<\/title>\n<meta name=\"description\" content=\"The Indonesian stock market ended 2021 in a better position than 2020 reflecting stronger economic fundamentals.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equity Market Commentary : December 2021 - 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