The JCI February 27, 2024

𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟐𝟕, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟐𝟎 – 𝟕,𝟑𝟖𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟖𝟒 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐚 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐫𝐞𝐭𝐫𝐞𝐚𝐭 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐚 𝐫𝐞𝐜𝐨𝐫𝐝 𝐜𝐥𝐨𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐨𝐥𝐝𝐞𝐬𝐭 𝐬𝐭𝐨𝐜𝐤 𝐢𝐧𝐝𝐞𝐱 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐚𝐜𝐡𝐢𝐞𝐯𝐞𝐝 𝐭𝐡𝐞 𝐩𝐫𝐞𝐯𝐢𝐨𝐮𝐬 𝐝𝐚𝐲

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

Morning,

The Jakarta Composite Index (JCI) today (2/27) is expected to trade in the range of  7,220 – 7,380 points to attempt higher with the support of bargain hunters.

Meanwhile, yesterday  (2/26) on Wall Street, the DJIA closed lower by 62 points or 0.16%  to  39,016 points. The S&P500 and the Nasdaq Composite closed lower by 0.38% and 0.13%, respectively.

Yesterday, the yield of the 10-year  US  Treasury was higher by 3 basis points to 4.278%. The 2-year Treasury yield was also higher by 3 basis points at 4.723%.

Yesterday (2/26),  the WTI futures contract for April rose by 1.4% at USD77.58/barrel, mainly on the supply-side issue along with fear of a narrowing gap between the price of the US crude oil and diesel per barrel. Meanwhile, the USDIDR closed at IDR15,635 vs. IDR15,589 the previous one.

Cheers,