The JCI April 13, 2020
Aᴘʀɪʟ 13, 2020
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 4,550ᴘᴛ – 4,725ᴘᴛ ( Tʜᴜʀsᴅᴀʏ ᴄʟᴏsᴇ: 4,649ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴄʟᴏsᴇᴅ ʜɪɢʜᴇʀ ʙʏ ᴄ. 2% Tʜᴜʀsᴅᴀʏ ᴏɴ ᴘʀᴏsᴘᴇᴄᴛ ᴏꜰ ʙɪɢ sᴘᴇɴᴅɪɴɢ ꜰʀᴏᴍ ᴛʜᴇ US ɢᴏᴠᴇʀɴᴍᴇɴᴛ ᴛᴏ ᴄᴏᴍʙᴀᴛ ɪᴍᴘᴀᴄᴛ ᴏꜰ ᴛʜᴇ Cᴏᴠɪᴅ-19 ᴘᴀɴᴅᴇᴍɪ
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ɢᴀɪɴ ᴇᴅɢᴇ ʙᴜᴛ ʀᴇsᴛʀᴀɪɴᴇᴅ ʙʏ ᴄᴀᴜᴛɪᴏᴜs ᴍᴏᴅᴇ ᴀs Iɴᴅᴏɴᴇsɪᴀ ᴄᴇɴᴛʀᴀʟ ʙᴀɴᴋ ʙᴏᴀʀᴅ-ᴏꜰ-ɢᴏᴠᴇʀɴᴏʀs sᴛᴀʀᴛs ɪᴛs Aᴘʀɪʟ ᴍᴇᴇᴛɪɴɢ ᴛᴏᴅᴀʏ
Morning,
The Jakarta Composite Index (JCI) today (13/4) is expected to be in the range of 4,550pt-4,725pt, expected to hold selling pressures yet supported by stable USDIDR. Meanwhile, on Thursday last week (9/4) in Wall Street, the DJIA closed higher by 286 points or 1.2% to 23,719pt, while the S&P500 and the Nasdaq both closed also higher by 1.5% and 0.8% respectively. The US central bank announced a heap of program aid to including loans geared towards small and medium sized businesses for the sum of up to USD2.3tr. The Fed also gave more details on its plans to buy investment-grade and now to include even junk bonds.
Meanwhile, the WTI price closed at USD23.6/barrel Friday last week (10/4) or higher by 3.5% as compared to the previous close of USD22.8/barrel. The OPEC plus countries has officially agreed on production cut of 10mn barrels/day, or close to 10 (ten) times the previous rate (1.2mn barrels/day) as the group view demand will slow in a pace not seen before. The group would cut 10 million barrels per day in May and June, 8 million barrels per day from July through the end of the year, and 6 million barrels per day beginning in January 2021 and extending through April 2022, according to Reuters. At the other end, USDIDR closed to IDR16,241 vs. IDR16,245 the previous close.
We advise the following recommendation as for now, for both trading and longer-time investment purpose. 𝐀𝐀𝐋𝐈, 𝐋𝐒𝐈𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘨𝘳𝘪, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘜𝘯𝘥𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐔𝐍𝐓𝐑, 𝐈𝐓𝐌𝐆, 𝐀𝐃𝐑𝐎, 𝐏𝐓𝐁𝐀 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘢𝘭 𝘔𝘪𝘯𝘪𝘯𝘨, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐆𝐆𝐑𝐌, 𝐔𝐍𝐕𝐑, 𝐈𝐂𝐁𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐀𝐒𝐈𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘷𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐚𝐧𝐝 𝐀𝐂𝐄𝐒, 𝐒𝐂𝐌𝐀, 𝐌𝐀𝐏𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘛𝘳𝘢𝘥𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵),𝐚𝐧𝐝 𝐓𝐊𝐈𝐌 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘉𝘢𝘴𝘪𝘤 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵).
Cheers,