The JCI May 5, 2023

𝐌𝐚𝐲 𝟓, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟗𝟎𝐩𝐭 – 𝟔,𝟗𝟐𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟒𝟒𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐡𝐢𝐠𝐡𝐞𝐫 𝐮𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧𝐭𝐢𝐞𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐥𝐨𝐧𝐠 𝐰𝐢𝐭𝐡 𝐧𝐞𝐰𝐬 𝐭𝐡𝐚𝐭 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐫𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐛𝐚𝐧𝐤 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐝 𝐭𝐨 𝐨𝐩𝐭 𝐟𝐨𝐫 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐰𝐚𝐲𝐬 𝐭𝐨 𝐞𝐧𝐡𝐚𝐧𝐜𝐞 𝐬𝐡𝐚𝐫𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬’ 𝐯𝐚𝐥𝐮𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (5/5) is expected to trade between 6,790pt–6,920pt to attempt higher and be supported by bargain hunters.

The JCI is expected to respond to the country’s GDP growth for the 1Q23, widely expected to be in the order of 5%.

 Yesterday (5/4) on Wall Street, the DJIA closed lower by 287 points or 0.9% to 33,128pt, while the S&P500 and the Nasdaq closed lower by 0.7% and 0.5%, respectively.

Meanwhile, the 10-year US Treasury closed almost unchanged at 3.364% after falling by around 4 basis points.  The yield on the 2-year Treasury was trading lower by 17 basis points at 3.764%.

Yesterday, the price of WTI settled down 4 cents to USD68.6/ barrel, mainly supported by the supply side as the OPEC+ production cut became effective starting May.  Meanwhile, the USDIDR closed at IDR14,632 vs. IDR14,706  the previous one.

Cheers,