The JCI April 8, 2020
Aᴘʀɪʟ 8, 2020
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ : 4,685ᴘᴛ – 4,850ᴘᴛ (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 4,779ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴄʟᴏsᴇᴅ ᴡɪᴛʜ ʟɪᴛᴛʟᴇ ᴄʜᴀɴɢᴇ ᴀᴍɪᴅ ɴᴇᴡs ᴛʜᴀᴛ ᴛʜᴇ Uɴɪᴛᴇᴅ Sᴛᴀᴛᴇs ᴘʀᴇsɪᴅᴇɴᴛ ʙʟᴀᴍᴇs ᴛʜᴇ WHO ꜰᴏʀ ɪᴛs ᴡʀᴏɴɢ ᴄᴀʟʟ ᴏɴ ᴛʜᴇ Cᴏᴠɪᴅ-19 ᴠɪʀᴜs ᴏᴜᴛʙʀᴇᴀᴋ
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ꜰʟᴜᴄᴛᴜᴀᴛᴇ, ᴍᴏʀᴇ ᴛᴏ ᴛʜᴇ ᴅᴏᴡɴsɪᴅᴇ, ʏᴇᴛ sᴛᴀʙʟᴇ USDIDR ᴄʟᴏsᴇ sᴜᴘᴘᴏʀᴛs
Morning,
The Jakarta Composite Index (JCI) today (8/4) is expected to be in the range of 4,685pt-4,850pt, expected to move more into the downside after weak regional mood. Meanwhile, yesterday (7/4) in Wall Street, the DJIA closed lower by 26 points or 0.1% to 22,654pt, while the S&P500 and the Nasdaq both closed also lower by 0.2% and 0.3% respectively.
Indonesia capital city Jakarta, started its limited lockdown (PSSB) effective yesterday (7/4 ) until April 21, officially close all offices and businesses except for 8 (eight) sectors: health services and industry, food, energy, communications, finance/bank/capital market, logistic distributions, groceries retailers, and strategic industries in the capital city. New cases of Covid-19 virus infections have gradually risen nationwide, with the highest of 247 (two hundred forty seven) new ones by the latest tally (7/4) vs. 161 cases on average during last six days, bringing total to 2,738 confirmed cases domestically. Given Indonesia ratio of hospital beds, doctors, nurses, and other health facilities over the population that is much lower as compared to other countries, Indonesia extra steps to limit virus spread is imperative, in our view.
Meanwhile, the WTI price closed at USD23.6/barrel yesterday or lower by 9.6% as compared to the previous close of USD26.1/barrel. At the other end, USDIDR closed to IDR16,414 vs. IDR16,556 the previous close.
We advise the following recommendation as for now. 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,