The JCI March 4, 2022

𝐌𝐚𝐫𝐜𝐡 𝟒, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟗𝟎𝐩𝐭 – 𝟔,𝟗𝟐𝟓𝐩𝐭 (𝐖𝐞𝐝𝐧𝐞𝐬𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟔𝟖𝐩𝐭 )

* 𝐅𝐮𝐭𝐮𝐫𝐞𝐬 𝐭𝐢𝐞𝐝 𝐭𝐨 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀, 𝐒&𝐏𝟓𝟎𝟎 𝐚𝐧𝐝 𝐍𝐚𝐬𝐝𝐚𝐪 𝐭𝐮𝐫𝐧𝐞𝐝 𝐧𝐞𝐠𝐚𝐭𝐢𝐯𝐞 𝐭𝐨 𝐝𝐞𝐜𝐥𝐢𝐧𝐞 𝐛𝐲 𝟎.𝟗%, 𝟏.𝟐%, 𝐚𝐧𝐝 𝟏.𝟓% 𝐫𝐞𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞𝐥𝐲 𝐢𝐧 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲 𝐞𝐯𝐞𝐧𝐢𝐧𝐠 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐬 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐭𝐢𝐦𝐞 𝐚𝐬 𝐧𝐞𝐰𝐬 𝐛𝐫𝐨𝐤𝐞 𝐭𝐡𝐚𝐭 𝐑𝐮𝐬𝐬𝐢𝐚 𝐚𝐭𝐭𝐚𝐜𝐤𝐞𝐝 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐧𝐮𝐜𝐥𝐞𝐚𝐫 𝐩𝐥𝐚𝐧𝐭 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞 𝐚𝐧𝐝 𝐔𝐤𝐫𝐚𝐢𝐧𝐞 𝐰𝐢𝐭𝐡 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 𝐝𝐚𝐦𝐚𝐠𝐢𝐧𝐠-𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝟏𝟎 𝐭𝐢𝐦𝐞𝐬 𝐭𝐡𝐚𝐭 𝐨𝐟 𝐂𝐡𝐞𝐫𝐧𝐨𝐛𝐲𝐥

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

Morning,

 The Jakarta Composite Index (JCI) today (3/4) is expected to trade between 6,790pt – 6,925pt  to be in volatile sessions  and  supported by  bargain hunters. The JCI is expected to be supported by the momentum of higher commodities close.  However, the risk of declining global trade and growth which arise from the Russia and Ukraine crisis is estimated to limit upside of the JCI today.

Wall Street yesterday (3/3) ended with the DJIA closed lower by 97pt or 0.3% to 33,795pt, while the S&P500 and the Nasdaq Composite  closed lower by 0.5% and by 1.6%, respectively. The yield of the benchmark 10-year US Treasury note closed  lower by  1bp to 1.85% yesterday.  The yield bounced-back from the level of 1.758% , the-day- before-yesterday close.

Meanwhile yesterday   the WTI  price closed lower by 2.7% against the previous close to USD107.7/barrel, mainly as Iran nuclear deal provided assumption on firmer additional crude supply for the sector.    Meanwhile the USDIDR closed  at IDR14,373 vs. IDR14,350 the previous one.

Cheers,