The JCI February 2, 2022

𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟐, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟓𝟗𝟎𝐩𝐭 – 𝟔,𝟔𝟖𝟓𝐩𝐭 ( 𝐌𝐨𝐧𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟔𝟑𝟏𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐜𝐥𝐨𝐬𝐞 𝐭𝐨 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐛𝐞𝐭𝐭𝐞𝐫 𝐜𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐢𝐬 𝐚𝐛𝐥𝐞 𝐭𝐨 𝐚𝐛𝐬𝐨𝐫𝐩 𝐡𝐢𝐠𝐡𝐞𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐡𝐚𝐫𝐠𝐞𝐬 𝐭𝐡𝐢𝐬 𝐲𝐞𝐚𝐫

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

Morning,

The Jakarta Composite Index (JCI) today (2/2) is expected to trade between 6,590pt – 6,685pt  to attempt higher and  supported by  bargain hunters.  The JCI is expected to be supported by January’s Indonesia inflation rate data release, widely-expected to be higher. Central bank Bank Indonesia  expects last months’ CPI increase at 0.53% MoM ( December: 0.57% MoM), and 2.15% YoY (December: 1.87% YoY).  At the other end, upside of the JCI today may be limited by rising new cases of COVID-19 , expecially in the Jakarta city, of 17.9% positivity rate or the year-high in the last record.

Meanwhile, Wall Street yesterday (2/1)  ended with the DJIA closed higher by 273pt, or 0.8% to 35,405pt, while the S&P500 and the Nasdaq Composite both closed higher by 0.7% and 0.8%, respectively. The US equity market continued to factor-in growth, also on the ISM Manufacturing purchases managers index for January, recorded at 79.1% from the previously 71.2%.

At the other end, yesterday  the WTI  price moved higher by 0.06% from to USD88.2/barrel, mainly on the expectation that major producers  in the OPEC+ members, on a meeting today, to keep its current policy of gradual production hikes despite rising demand.  Meanwhile, the USDIDR closed  at IDR14,392 vs. IDR14,381  the previous one.

Cheers,