The JCI April 16, 2024

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𝐀𝐩𝐫𝐢𝐥 𝟏𝟔, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟗𝟎 – 𝟕,𝟑𝟕𝟎 𝐩𝐨𝐢𝐧𝐭𝐬  (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟖𝟕 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟏.𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐢𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞𝐝 𝐛𝐲 𝐟𝐞𝐚𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐨𝐧-𝐠𝐨𝐢𝐧𝐠 𝐛𝐚𝐭𝐭𝐥𝐞 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐈𝐫𝐚𝐧 𝐚𝐧𝐝 𝐈𝐬𝐫𝐚𝐞𝐥 𝐭𝐨 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐞𝐜𝐨𝐧𝐨𝐦𝐲

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

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Morning,

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The Jakarta Composite Index (JCI) today (4/16)  is expected to trade in the range of  7,190 – 7,370 points to attempt higher with the support of bargain hunters.  Today the JCI is expected to respond to Indonesia’s trade data for March announced by the country’s statistics office, widely estimated at a net surplus of USD0.94bn (February: 0.87bn)

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Meanwhile, yesterday (4/15) on Wall Street, the DJIA closed lower by 248 points or 0.65%  to  37,735  points. The S&P500 and the Nasdaq Composite closed lower by 1.2% and 1.79%, respectively.

Yesterday, the yield of the 10-year  US  Treasury rose by more than 11 basis points to 4.612%. The 2-year Treasury yield last added  3 basis points at 4.912%.

Yesterday, the US West Texas Intermediate futures for May settlement, closed lower by 0.29%  at USD85.41 /barrel, mainly on supply-side concerns as tensions in the Middle East continued to mount. Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in a so-called unprecedented attack. Meanwhile, the USDIDR closed at IDR15,873 vs. IDR15,907.

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Cheers,