The JCI December 21, 2023

𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟐𝟏, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟒𝟎 – 𝟕,𝟐𝟔𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟐𝟎 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟔% , 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐚 𝐥𝐨𝐰𝐞𝐫-𝐭𝐡𝐚𝐧-𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐅𝐞𝐝𝐄𝐱, 𝐰𝐡𝐢𝐥𝐞 𝐢𝐧𝐝𝐞𝐱𝐞𝐬  𝐰𝐞𝐫𝐞 𝐩𝐫𝐨𝐧𝐞 𝐟𝐨𝐫 𝐫𝐞𝐭𝐫𝐞𝐚𝐭

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

Morning,

The Jakarta Composite Index (JCI) today (12/21) is expected to trade in the range of  7,140 – 7,260 points to hold ground with the support of bargain hunters.

The JCI today is expected to respond to the announcement of Indonesia’s central bank Bank Indonesia’s latest monetary policy, following the completion of its December 2-day Board of Governor meeting. Based on a poll by CNBC Indonesia, Bank Indonesia is expected to keep the current policy rate BI7DRR unchanged at 6.00%.

Meanwhile, yesterday (12/20) on Wall Street, the DJIA closed lower by 476 points or 1.3% to 37,082 points, while the S&P500 and the Nasdaq Composite both closed lower by 0.5%.

The yield of the 10-year  US  Treasury Note was down by 8 basis points to 3.849%, while the yield on the 2-year Treasury bond declined by 10 basis points at 4.344%.

Yesterday, the WTI futures contract for January closed higher by 0.4% at USD74.2/barrel, mainly being supported by fear of supply disruption in the Red Sea against the higher-than-expected data on the US gasoline stock level. Meanwhile, the USDIDR closed at IDR15,512 vs. IDR15,506 the previous one.

Cheers,