The JCI September 16, 2022

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟏𝟔, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟐𝟒𝟎𝐩𝐭 – 𝟕,𝟑𝟔𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟑𝟎𝟔𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐡𝐢𝐠𝐡𝐞𝐫 𝐮𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧𝐭𝐢𝐞𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐞𝐜𝐨𝐧𝐨𝐦𝐲 𝐚𝐧𝐝 𝐰𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞 𝐞𝐬𝐩𝐞𝐜𝐢𝐚𝐥𝐥𝐲 𝐚𝐟𝐭𝐞𝐫 𝐭𝐡𝐞 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐔𝐒 𝐂𝐏𝐈 𝐝𝐚𝐭𝐚

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐚𝐧𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐜𝐥𝐨𝐬𝐞

Morning,

The Jakarta Composite Index (JCI) today (9/16) is expected to trade between 7,240pt –7,360pt  to hold ground and is supported by bargain hunters.

Meanwhile, yesterday (9/15) Wall Street ended with the DJIA closed lower by 173 points or 0.6% to 30,962pt, while the S&P500 and the Nasdaq closed lower by 1.1% and 1.4%, respectively.

Shares of the US-based FedEx plunged 15% in extended trading after the shipments company withdrew its full-year guidance, prompting renewed concerns about stagflation in the US and worldwide.

On the other end, the yield on the benchmark 10-year Treasury note closed lower by 4 basis points to 3.45% yesterday, and the 2-year Treasury yield increased by 8 basis points to 3.86%, continuing to be in a  yield-spread inversion trend.

Yesterday, the WTI price closed lower by 3.8%  at USD85.1/barrel, also on a strong US dollar ahead of a potentially large interest rate increase. Meanwhile, the USDIDR closed at  IDR14,899 vs. IDR14,923 the previous one.

Cheers,