The JCI June 3, 2022

𝐉𝐮𝐧𝐞 𝟑, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟏𝟎𝟎𝐩𝐭 – 𝟕,𝟐𝟒𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟒𝟗𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟐% 𝐚𝐬 𝐌𝐚𝐲’𝐬 𝐝𝐚𝐭𝐚 𝐨𝐧 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐩𝐚𝐲𝐫𝐨𝐥𝐥𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐛𝐲 𝟏𝟐𝟖𝐤 𝐮𝐧𝐢𝐭𝐬 𝐨𝐫 𝐦𝐞𝐚𝐧𝐢𝐧𝐠𝐟𝐮𝐥𝐥𝐲 𝐥𝐨𝐰𝐞𝐫 𝐚𝐬 𝐜𝐨𝐦𝐩𝐚𝐫𝐞𝐝 𝐭𝐨 𝐭𝐡𝐞 𝐜𝐨𝐧𝐬𝐞𝐧𝐬𝐮𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 𝐨𝐟 𝟐𝟗𝟗𝐤 𝐮𝐧𝐢𝐭𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (6/3) is expected to trade between 7,100pt – 7,240pt  to gain edge also on support of bargain hunters.  The JCI yesterday responded without significant swings during the release of Indonesia inflation data for May of 0.35% MoM (April:0.95%) and 3.55% YoY (April: 3.5%) which is in-line with market consensus.

 Wall Street yesterday (6/2) ended with the DJIA closed higher by 435pt, or 1.3% to 33,248pt, while the S&P500 and the Nasdaq closed higher by 1.8% and 2.7%, respectively. The US ADP payroll data for May had been perceived to be a factor for the central bank to slow down monetary tightening.  At the other end, the US 10-year Treasury yield closed lower by 2bp to 2.9%.

Yesterday  the WTI  price closed higher by 1.4% to  USD116.9/barrel, despite OPEC+ decision to increase output by 648k bpd (from previously 400k bpd) in July and August, mainly on reduced supply from Russia. Meanwhile, the USDIDR closed  at IDR14,526  vs. IDR14,592 the previous one.

Cheers,