The JCI August 9, 2022

𝐀𝐮𝐠𝐮𝐬𝐭 𝟗, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟎𝟐𝟎𝐩𝐭 – 𝟕,𝟏𝟓𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟖𝟓𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐬𝐭𝐫𝐨𝐧𝐠 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐉𝐮𝐥𝐲 𝐣𝐨𝐛 𝐟𝐢𝐠𝐮𝐫𝐞𝐬 𝐫𝐞𝐥𝐞𝐚𝐬𝐞𝐝 𝐥𝐚𝐬𝐭 𝐰𝐞𝐞𝐤, 𝐚𝐦𝐢𝐝 𝐰𝐞𝐚𝐤𝐞𝐫-𝐭𝐡𝐚𝐧-𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐍𝐕𝐃𝐈𝐀 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐲𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲

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

Morning,

 The Jakarta Composite Index (JCI) today (8/9) is expected to trade between 7,020pt –7,150pt  to attempt higher and supported by bargain hunters.   

Meanwhile, yesterday (8/8) Wall Street ended with the DJIA closed higher by 29 points or 0.1% to 32,833pt, while the S&P500 and the Nasdaq both closed lower by 0.1%.

At the other end, the yield on the benchmark 10-year Treasury note fell by 9 basis points to 2.75%, and the 2-year Treasury yield only fell 4 basis points to 3.205%, widening its gap with the 10-year. The higher chance for the Federal Reserve to increase rate this month by another 50bp, as widely-believed, had triggered buying of the US government bonds.

Yesterday,  the WTI price closed higher by 2.0% to  USD90.1/barrel, mainly on demand prospect as China, the world’s top crude importer brought in 8.8mn bpd of crude in July, up from a four-year low in June, but still 9.5% less than a year earlier. Meanwhile, the USDIDR closed  at  IDR14,915  vs. IDR14,904 the previous one.

Cheers,