๐๐จ๐ฏ๐๐ฆ๐๐๐ซ ๐๐, ๐๐๐๐
Morning,
The Jakarta Composite Index (JCI) today (11/23) is expected to trade in the range of 6,860 – 7,000 points to attempt higher with the support of bargain hunters.
The JCI today is expected to respond to the countryโs central bank Bank Indonesia announcement on the monetary policy stance after the completion of its 2-day Novemberโs policy meeting. Last month, Bank Indonesia increased the policy rate BI7D-RR by 25ย basis points, the first increase since January, to 6.00%.
Meanwhile, yesterday (11/22) on Wall Street, the DJIA closed higher by 185 points or 0.5% to 35,273 points, while the S&P500 and the Nasdaq Composite closed higher by 0.4% and 0.5%, respectively. ย On the other end, the US initial jobless claims for the week ending Nov. 18 came in at 209,000, which was 20,000 less than a consensus estimate from Dow Jones and a drop from the prior week.
The yield of the 10-year ย US ย Treasury Note was almost unchanged at 4.410%, while the yield on theย 2-year Treasury bond rose 2 ย basis points to 4.9%.
Yesterday, the WTI futures fell 0.9% at USD77.1/barrel, mainly on the news that ย the meeting of OPEC+ to discuss plan for further supply cuts has been delayed to November 30, from the previous schedule on November 26. ย Meanwhile, the USDIDR closed at IDR15,584 vs. IDR15,436 the previous one.
Cheers,