The JCI January 21, 2022
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Tʜᴇ JCI Jᴀɴᴜᴀʀʏ 21, 2022
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 6,580ᴘᴛ – 6,660ᴘᴛ(Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 6,627ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴇɴᴅᴇᴅ ᴡɪᴛʜ ᴍᴀᴊᴏʀ ᴇǫᴜɪᴛʏ ɪɴᴅɪᴄᴇs ᴄʟᴏsᴇᴅ ʟᴏᴡᴇʀ ʙʏ sᴏᴍᴇ 1%, ᴀʟsᴏ ɪᴍᴘᴀᴄᴛᴇᴅ ʙʏ ᴛʜᴇ Uɴɪᴛᴇᴅ Sᴛᴀᴛᴇs (US) ʟᴀᴛᴇsᴛ ᴡᴇᴇᴋʟʏ ɪɴɪᴛɪᴀʟ ᴊᴏʙʟᴇss ᴄʟᴀɪᴍs ᴅᴀᴛᴀ ᴛʜᴀᴛ ᴛᴏᴛᴀʟᴇᴅ 286ᴋ ᴜɴɪᴛs , ʜɪɢʜᴇʀ ᴛʜᴀɴ ᴛʜᴇ ᴇsᴛɪᴍᴀᴛᴇ ᴏғ 225ᴋ ᴜɴɪᴛs
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ғʟᴜᴄᴛᴜᴀᴛᴇ ᴀɴᴅ ʙᴇ sᴜᴘᴘᴏʀᴛᴇᴅ ʙʏ sᴛᴀʙʟᴇ USDIDR ᴀɴᴅ ᴏɪʟ-ᴄʟᴏsᴇ
Morning,
The Jakarta Composite Index (JCI) today (1/20) is expected to trade between 6,580pt – 6,660pt and to attempt higher and be supported bargain hunters. Meanwhile Wall Street yesterday (1/20) ended with the DJIA closed lower by 313pt, or 0.9%, while the S&P500 and the Nasdaq Composite both closed lower by 1.1% and 1.3%, respectively. The vibes in the US equity market seemed continue to be the magnitude of the impact of this year hawkish plan of the Federal Reserve into sectors / companies. Today the JCI is expected to be supported by stable higher major commodity prices, and supporting monetary policies from the country central bank Bank Indonesia. As expected , during January’s policy meeting, BI decides to maintain reference BI7D-RRR at 3.5%, since February last year. However, BI plans to gradually increase banks reserve requirements to start on March/1 this year, by 150bp.
At the other end, yesterday the WTI price closed lower by 0.1% to USD85.7/barrel, mainly on technical correction following previous days’ rally. Meanwhile, the USDIDR closed at IDR14,354 vs. IDR14,370 the previous one.
Cheers,