The JCI March 31, 2022

𝐌𝐚𝐫𝐜𝐡 𝟑𝟏, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟎𝟎𝟎𝐩𝐭 – 𝟕,𝟏𝟐𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟓𝟑𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟎.𝟓%, 𝐢𝐧 𝐚 𝐜𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐩𝐡𝐚𝐬𝐞, 𝐚𝐬 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐞𝐦𝐛𝐫𝐚𝐜𝐞 𝐭𝐢𝐠𝐡𝐭 𝐦𝐨𝐧𝐞𝐭𝐚𝐫𝐲 𝐩𝐨𝐥𝐢𝐜𝐲 𝐚𝐧𝐝 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫 𝐩𝐨𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐟 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐬𝐭𝐚𝐠𝐧𝐚𝐭𝐢𝐨𝐧 𝐠𝐢𝐯𝐞𝐧 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐬𝐢𝐭𝐮𝐚𝐭𝐢𝐨𝐧

* 𝐓𝐡𝐞 𝐉𝐈𝐂 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐚𝐧𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

 The Jakarta Composite Index (JCI) today (3/31) is expected to trade between 7,000pt – 7,120pt  to attempt higher and supported by bargain hunters.  The JCI today is expected also to be supported by improving COVID-19 new cases rate in capital Jakarta city, at a stable and improving trend at 6.4%, the latest positivity rate data (year-to-date high:  26%, year-to-date low: 1.0%).

Wall Street yesterday (3/30) ended with the DJIA closed lower by 65pt or 0.2% to 35,229pt, while the S&P500 and the Nasdaq Composite  closed lower by 0.6% and by  1.2%, respectively. The US macro data releases, the final 4Q21 GDP growth reading (at 6.9% YoY vs. 7.0% YoY previously) and private sector job additions in March (455k units vs. 450k of estimate), matched the general optimistic vibes of the country’s economic prospect.

At the other end, the yield on the benchmark 10-year Treasury note fell by 4bp (basis point) to close at 2.354%, indicating investors for position of aggressive Federal Reserve cuts. Yields move inversely to prices and 1 basis point is equal to 0.01%.

Yesterday  the WTI  price closed lower by 3.4% to USD107.8/barrel against the previous close, mainly on supply worry  as the latest US crude inventory position stands at 410mn barrels, the lowest since September 2018. Meanwhile, the USDIDR closed  at IDR14,349  vs. IDR14,364  the previous one.

Cheers,