The JCI November 16, 2022

𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟏𝟔, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟗𝟗𝟎𝐩𝐭 – 𝟕,𝟏𝟏𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟑𝟔𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐛𝐫𝐨𝐚𝐝𝐞𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱 𝐍𝐚𝐬𝐝𝐚𝐪 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐜𝐥𝐨𝐬𝐞𝐝 𝟏.𝟓% 𝐡𝐢𝐠𝐡𝐞𝐫 𝐚𝐥𝐨𝐧𝐠 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐝𝐚𝐭𝐚 𝐨𝐧 𝐢𝐧𝐝𝐞𝐱 𝐨𝐟 𝐩𝐫𝐢𝐜𝐞 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐚𝐭 𝐭𝐡𝐞 𝐰𝐡𝐨𝐥𝐞𝐬𝐚𝐥𝐞 𝐥𝐞𝐯𝐞𝐥 (𝐏𝐏𝐈)

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

Morning,

The Jakarta Composite Index (JCI) today (11/16) is expected to trade between 6,990pt– 7,110pt to gain an edge supported by bargain hunters.   The JCI today is expected to be in a narrow band within the positive zone also as traders will be in monitor for the next policy rate decision of Indonesia’s central bank, scheduled to be announced tomorrow (11/17).

Meanwhile, yesterday  (11/15) Wall Street ended with the DJIA closed higher by  56 points or 0.2% to 33,592pt, while the S&P500 and the Nasdaq closed higher by 0.9% and 1.5%, respectively. The US PPI data for October was released at 8.0% YoY, lower than that in September of 8.4% YoY.

The 10-year US Treasury yield, yesterday fell by 7 basis points at 3.792%, and the yield on the policy-sensitive 2-year Treasury was lower by 4 basis points at close to 4.363%.

Yesterday, the price of  WTI crude rose by 1.2%, to USD86.9 a barrel, mainly on supply worries after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure.  Meanwhile, the USDIDR  closed at  IDR15,564 vs. IDR15,499  the previous one.

 Cheers,