The JCI June 22, 2022

𝐉𝐮𝐧𝐞 𝟐𝟐, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟗𝟎𝐩𝐭 – 𝟕,𝟏𝟐𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟒𝟒𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐫𝐞𝐛𝐨𝐮𝐧𝐝 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐚 𝐲𝐞𝐚𝐫-𝐥𝐨𝐰 𝐰𝐞𝐞𝐤 𝐰𝐡𝐢𝐥𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐚𝐫𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐢𝐝𝐝𝐥𝐞 𝐨𝐟 𝐩𝐨𝐥𝐞𝐦𝐢𝐜 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐚𝐧𝐝 𝐠𝐥𝐨𝐛𝐚𝐥 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐫𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧

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

Morning,

 The Jakarta Composite Index (JCI) today (6/22) is expected to trade between 6,990pt – 7,120pt  to gain edge and supported by bargain hunters. The yield on the 10-year Indonesia government bonds closed higher by 2bp at 7.5% yesterday .

Yesterday (6./21) Wall Street closed with the DJIA ended higher by 642 points or 2.2% to 30,530pt, and the S&P500 and the Nasdaq Composite both higher by 2.5%.

Amid investors’ fear of the US and global economic recession,  the S&P500’s meaningful gain yesterday was broad-based. All the S&P500 sectors recorded price increase with the energy sector led the way of 5.8%.  At the other end, the yield a the 10-year US Treasury closed higher by 6bp to 3.3% yesterday.

 Yesterday,  the WTI  price closed higher by 1% to  USD110.7/barrel, mainly supported by the sector’s tight supply. An industry’s practitioner  was quoted to estimate the supply imbalance to last at least in a 3-5 years time.  Meanwhile, the USDIDR closed  at IDR14,804 vs. IDR14,836  the previous one.

Cheers,