The JCI January 12, 2022
Jᴀɴᴜᴀʀʏ 12, 2022
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 6,610ᴘᴛ – 6,720ᴘᴛ (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 6,648ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴇɴᴅᴇᴅ ᴡɪᴛʜ ᴍᴀᴊᴏʀ ᴇǫᴜɪᴛʏ ɪɴᴅɪᴄᴇs ᴄʟᴏsᴇᴅ ʜɪɢʜᴇʀ ʙʏ sᴏᴍᴇ 1%, ᴍᴀɪɴʟʏ ᴏɴ ᴛʜᴇ sᴛᴀᴛᴇᴍᴇɴᴛ ᴏғ ᴛʜᴇ Uɴɪᴛᴇᴅ Sᴛᴀᴛᴇs (US) ᴄᴇɴᴛʀᴀʟ ʙᴀɴᴋ Cʜᴀɪʀᴍᴀɴ ᴛʜᴀᴛ ᴛʜɪs ʏᴇᴀʀ ᴡɪʟʟ sᴇᴇ ᴀ ɴᴏʀᴍᴀʟɪᴢᴀᴛɪᴏɴ ᴏғ ᴍᴏɴᴇᴛᴀʀʏ ᴘᴏʟɪᴄʏ ɪɴ ᴛʜᴇ ᴄᴏᴜɴᴛʀʏ
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ɢᴀɪɴ ᴇᴅɢᴇ sᴜᴘᴘᴏʀᴛᴇᴅ ʙʏ sᴛᴀʙʟᴇ USDIDR ᴀɴᴅ ᴏɪʟ-ᴄʟᴏsᴇ
Morning,
The Jakarta Composite Index (JCI) today (1/12) is expected to trade between 6,610pt – 6,720pt and to hover mostly in the green also on the back of bargain hunters. Meanwhile, yesterday (1/11) the DJIA closed higher by 183pt or 0.5% to 36,252pt, while the S&P500 and the Nasdaq Composite both closed higher by 0.9% and 1.4%, respectively.
The JCI upside today is expected to be limited by news streams on COVID-19 spread in Indonesia, and cautious mode over the inflation data for the US, scheduled today. However, investors in the domestic market can be comforted by annual higher trend of major commodities price as well as high recovery economic growth in the US. These 2 (two) factors, at least, can absorp volatilities in the financial market as the result of monetary authorities sometimes be in the position of behind-the-curve during this pandemic years.
At the other end, yesterday the WTI price closed higher by 3.8% to USD81.2/barrel, mainlyon longer-term supply doubt despite growing cases of Omicron variant in many countries. capacity fears most likely on Meanwhile, the USDIDR closed at IDR14,299 vs. IDR14,323 the previous one.
Cheers,