The JCI April 1, 2024

𝐀𝐩𝐫𝐢𝐥 𝟏, 𝟐𝟎𝟐𝟒

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• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟐𝟎 – 𝟕,𝟑𝟔𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟖𝟗 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝟎.𝟏𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 “𝐭𝐡𝐢𝐫𝐝”  𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞 𝐨𝐟  𝟒𝐐𝟐𝟑 𝐆𝐃𝐏 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒), 𝐚𝐭 𝟑.𝟒% 𝐨𝐫 𝐡𝐢𝐠𝐡𝐞𝐫 𝐭𝐡𝐚𝐧 𝐭𝐡𝐞 𝐩𝐫𝐞𝐯𝐢𝐨𝐮𝐬 𝟑.𝟐%

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

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Morning,

The Jakarta Composite Index (JCI) today (4/1)  is expected to trade in the range of  7,220 – 7,360 points to attempt higher with the support of bargain hunters.

The JCI today is expected to respond to Indonesia March’s inflation data released by the statistics office. Figures polled on economists surveyed by CNBC Indonesia pointed to consensus estimates of March annual inflation rate at 2.88% (February:  2.75%), and a month-over-month rate of 0.38% (February: 0.37%).

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Meanwhile, on Thursday last week (3/28) on Wall Street, the DJIA closed higher by 47 points or 0.12%  to  39,808  points. The S&P500 and the Nasdaq Composite closed higher by 0.11% and lower by 0.12%, respectively. Major indexes last week also reflected the latest weekly jobless claims for the week that ended March 16 which came in at 210,000, slightly lower than the 211,000 that economists surveyed by Dow Jones had predicted.

Last week, the yield of the 10-year  US  Treasury increased 1 basis point to 4.21%. The 2-year Treasury yield rose 6 basis points at 4.63%.

Last week, the US West Texas Intermediate futures for May settlement, closed higher by 2.24%  at USD83.17/barrel, also spurred by the “third” estimate of the US 4Q23 GDP growth, at an annual rate of 3.4% or higher than the previous rate of 3.2%.  Meanwhile, the USDIDR closed at IDR15,873 vs. IDR15,853.

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Cheers,