The JCI February 4, 2022

𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟒, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟔𝟐𝟎𝐩𝐭 – 𝟔,𝟕𝟐𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟔𝟖𝟒𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐍𝐚𝐬𝐝𝐚𝐪 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐥𝐨𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐚𝐦𝐨𝐧𝐠 𝐭𝐡𝐞 𝟑 (𝐭𝐡𝐫𝐞𝐞) 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐝𝐢𝐬𝐚𝐩𝐩𝐨𝐢𝐧𝐭𝐢𝐧𝐠 𝟏𝐐𝟐𝟐 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐫𝐞𝐥𝐞𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐌𝐞𝐭𝐚

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐚𝐭𝐞 𝐚𝐧𝐝 𝐛𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐃𝐈𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

 The Jakarta Composite Index (JCI) today (2/4) is expected to trade between 6,620pt – 6,720pt  to hold ground and  supported by  bargain hunters.  The JCI today is expected to be supported by uptrend stability of commodity price, while be pressured by higher yield differential on a benchmark 10-year government bonds.   In addition, latest position of COVID-19 status in the country is another negative factor.  The latest new cases of COVID-19 addition in the Jakarta city was recorded at 21.3%, or only slightly off its year-high of 21.6%  in the previous one.

Meanwhile, Wall Street yesterday (2/3)  ended with the DJIA closed lower by 518pt, or 1.5% to 35,629pt, while the S&P500 and the Nasdaq Composite both closed lower by 2.4% and 3.7%, respectively. Meta had a net loss of USD10bn in 2021 attributable to Meta’s investment in the metaverse.  At the other end, in the  after-hours trading, Amazon delivered earnings that sent the stock higher by 17%. Amazon also recorded profit on its investment in the  vehicle- maker Rivian ’s IPO in November.

At the other end, yesterday  the WTI  price closed higher by 2.2% to USD90.2/barrel,highest since October 2014,  mainly as concerning-tight supply in the crude sector, as has been indicated in producer-countries’ data, that upward movement is easily tweaked.  Meanwhile, the USDIDR closed  at IDR14,381 vs. IDR14,347  the previous one.

Cheers,