The JCI February 28, 2024

𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟐𝟖, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟐𝟐𝟎 – 𝟕,𝟑𝟕𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟖𝟓 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝟎.𝟐𝟓%, 𝐚 𝐬𝐞𝐜𝐨𝐧𝐝 𝐬𝐭𝐫𝐚𝐢𝐠𝐡𝐭 𝐥𝐨𝐬𝐬, 𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝐫𝐞𝐟𝐥𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐥 𝐜𝐚𝐮𝐭𝐢𝐨𝐮𝐬 𝐦𝐨𝐝𝐞 𝐨𝐟 𝐞𝐪𝐮𝐢𝐭𝐲 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐮𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐜𝐨𝐧𝐬𝐮𝐦𝐩𝐭𝐢𝐨𝐧 𝐞𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞 𝐩𝐫𝐢𝐜𝐞 𝐢𝐧𝐝𝐞𝐱 𝐟𝐨𝐫 𝐉𝐚𝐧𝐮𝐚𝐫𝐲, 𝐝𝐮𝐞 𝐭𝐨𝐦𝐨𝐫𝐫𝐨𝐰 (𝟐/𝟐𝟗)

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

Morning,

The Jakarta Composite Index (JCI) today (2/28) is expected to trade in the range of  7,220 – 7,370 points to attempt higher with the support of bargain hunters.

Meanwhile, yesterday  (2/27) on Wall Street, the DJIA closed lower by 97 points or 0.25%  to  38,972  points. On the other end, the S&P500 and the Nasdaq Composite closed higher by 0.17% and 0.37%, respectively.

Yesterday, the yield of the 10-year  US  Treasury rose 3 basis points to 4.309%. The 2-year Treasury yield declined 2 basis points at 4.706%.

Yesterday (2/27),  the WTI futures contract for April rose by 1.7% at USD78.87/barrel, mainly on a wide consensus that the OPEC+ member countries to extend the current production cut level beyond the 1Q this year.  Meanwhile, the USDIDR closed at IDR15,655 vs. IDR15,635 the previous one.

Cheers,