๐ ๐๐๐ซ๐ฎ๐๐ซ๐ฒ ๐, ๐๐๐๐
Morning,
The Jakarta Composite Index (JCI) today (2/2) is expected to trade in the range of ย 7,140 – 7,300 points to attempt higher with the support of bargain hunters.
The JCI today is expected to also be supported by the release of Indonesia’s CPI figure for January yesterday which came in at an annual rate of 2.57% (December: 2.61%), and at 0.04% rate of month-over-month (December: 0.41%).ย Both figures are lower than the consensus estimates of 2.53% ย and 0.27%, respectively.
Meanwhile, yesterday ย (2/1) on Wall Street, the DJIA closed higher by 370 points or 0.97% to 38,520 points, while the S&P500 and the Nasdaq Composite closed higher by 1.25% and 1.3%, respectively.
The yield of the 10-year ย US ย Treasury note was lower by 7 basis points to ย 3.86%, while the yield on theย 2-year Treasury bond was last trading lower by 3 ย basis points at 4.20%.
Yesterday, the WTI futures contract for March declined by 2.68% to USD73.8/barrel, mainly supported by OPEC+ members’ decision and adherence to supply cuts of 2.2mn barrel per day for the quarterย Meanwhile, the USDIDR closed at IDR15,775 vs. IDR15,803 the previous one.
Cheers,