The JCI August 23, 2023

𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟑, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟓𝟎𝐩𝐭- 𝟔,𝟗𝟖𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟔,𝟗𝟏𝟕𝐩𝐭)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟒%, 𝐰𝐡𝐢𝐥𝐞 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐚𝐫𝐞 𝐬𝐡𝐢𝐟𝐭𝐢𝐧𝐠 𝐭𝐨 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐭𝐡𝐚𝐭 𝐛𝐞𝐧𝐞𝐟𝐢𝐭 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐟𝐫𝐨𝐦 𝐡𝐢𝐠𝐡𝐞𝐫 𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)

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

Morning,

The Jakarta Composite Index (JCI) today (8/23) is expected to trade between 6,850pt–6,980pt to attempt higher in support of bargain hunters.

Meanwhile, yesterday  (8/22) on Wall Street, the DJIA closed lower by 175 points or 0.65% to 34,289pt, while the S&P500 and the Nasdaq closed lower and higher by 0.3% and 0.1%, respectively.

The 10-year US Treasury yield fell by 2 basis points to 4.33%. The yield on the 2-year Treasury increased by 5 basis points at 5.05%.

Yesterday, the price of the WTI  October contract closed lower by 0.4% to USD80.4/barrel, mainly caused by concerns about China’s economic slowdown. The latest cut in a key lending benchmark in China is viewed as not enough to support activities. Meanwhile, the USDIDR closed at IDR15,326 vs. IDR15,329  the previous one.

 Cheers,