The JCI August 16, 2023

𝐀𝐮𝐠𝐮𝐬𝐭 𝟏𝟔, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟔𝟎𝐩𝐭 – 𝟔,𝟗𝟔𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟏𝟓𝐩𝐭)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐧𝐞𝐰𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐅𝐢𝐭𝐜𝐡 𝐑𝐚𝐭𝐢𝐧𝐠𝐬 𝐚𝐠𝐞𝐧𝐭 𝐰𝐨𝐮𝐥𝐝 𝐫𝐞𝐚𝐥𝐢𝐳𝐞 𝐝𝐨𝐰𝐧𝐠𝐫𝐚𝐝𝐞 𝐨𝐧 𝐭𝐡𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐲’𝐬 𝐦𝐚𝐣𝐨𝐫 𝐛𝐚𝐧𝐤𝐬 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐞𝐜𝐭𝐨𝐫’𝐬 𝐫𝐚𝐭𝐢𝐧𝐠 𝐜𝐮𝐭 𝐢𝐧 𝐉𝐮𝐧𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (8/16) is expected to trade between 6,860pt–6,960pt to attempt higher in support of bargain hunters.

 Meanwhile, yesterday  (8/15) on Wall Street, the DJIA closed lower by 361 points or 1.0% to 34,9466pt, while the S&P500 and the Nasdaq closed lower by 1.2% and 1.1%, respectively.  China’s central bank’s move to cut the country’s main reference interest rates, the second time in three months and following weaker-than-expected economic data,  added pressures to Wall Street.

The 10-year US Treasury yield rose by 3 basis points to 4.217%.  In contrast, the yield on the 2-year Treasury was trading lower by 2 basis points at 4.946%.

Yesterday, the price of WTI  futures closed lower by 1.8% to USD81.1/barrel, mainly on demand prospects along with the latest data on China’s industrial output and retail sales.  Meanwhile, the USDIDR closed at IDR15,346 vs. IDR15,323  the previous one.

Cheers,