The JCI June 9, 2022

𝐉𝐮𝐧𝐞 𝟗, 𝟐𝟎𝟐𝟐

*  𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟐𝟎𝐩𝐭 – 𝟕,𝟐𝟔𝟎𝐩𝐭 ( 𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟗𝟑𝐩𝐭)

*  𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐜𝐥𝐨𝐬𝐞 𝐭𝐨 𝟏% 𝐚𝐬 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐦𝐚𝐣𝐨𝐫 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐥𝐢𝐬𝐭𝐞𝐝 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐬𝐮𝐜𝐡 𝐚𝐬 𝐂𝐫𝐞𝐝𝐢𝐭 𝐒𝐮𝐢𝐬𝐬𝐞 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐥 𝐬𝐭𝐚𝐭𝐞𝐝 𝐰𝐞𝐚𝐤𝐞𝐫 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝟐𝐐𝟐𝟐

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

Morning,

 The Jakarta Composite Index (JCI) today (6/9) is expected to trade between 7,120pt – 7,260pt  to hold ground and supported by bargain hunters.  The JCI is expected to also be supported by the release of Indonesia May foreign-exchange reserve data , at USD136bn (+0% MoM) or worth of 6.6 months of import and external debt payment (December 2013: 5.4 months, December 2015: 7.4 months, International Standard: 3 months).

Wall Street yesterday (6/8) ended with the DJIA closed lower  by 269pt, or 0.8% to 32,911pt, while the S&P500 and the Nasdaq closed lower by 1.1% and 0.7%, respectively. Shares of Robinhood fell 3.9% after the US SEC Chair Gary Gensler detailed potential rule changes around trade execution.   At the other end, the US 10-year Treasury yield closed higher by 6bp to 3.03%, in cautious monitor for May’s inflation data on Friday.

Yesterday  the WTI  price closed higher by 2.3% to  USD122.1/barrel, mainly on the latest EIA data release of the US gasoline stocks, at a decline of 0.8mn barrels while consensus’ estimate had expected an increase of 1.1mn barrels. Meanwhile, the USDIDR closed  at IDR14,477  vs. IDR14,464 the previous one.

Cheers,