The JCI January 12, 2023

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟏𝟐, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟓𝟒𝟎𝐩𝐭 – 𝟔,𝟔𝟖𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟓𝟖𝟎𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬  𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐜𝐥𝐨𝐬𝐞 𝐭𝐨 𝟏.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐫𝐚𝐝𝐞𝐫𝐬’ 𝐡𝐞𝐢𝐠𝐡𝐭𝐞𝐧𝐞𝐝 𝐛𝐞𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐬𝐨𝐟𝐭𝐞𝐧𝐢𝐧𝐠 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫’𝐬 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐟𝐢𝐠𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐟𝐥𝐮𝐜𝐭𝐮𝐚𝐭𝐞 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐬𝐭𝐚𝐛𝐥𝐞 𝐔𝐒𝐈𝐃𝐃𝐑 𝐚𝐧𝐝 𝐨𝐢𝐥-𝐜𝐥𝐨𝐬𝐞

Morning,

The Jakarta Composite Index (JCI) today (1/12) is expected to trade between 6,540pt– 6,680pt to attempt higher and be supported by bargain hunters.

 Yesterday (1/11) on Wall Street, the DJIA closed higher by 269 points or 0.8% to 33,973pt, while the S&P500 and the Nasdaq closed higher by 1.3% and 1.8% respectively.  According to Dow Jones, economists now expect a deflation of 0.1% in the consumer price index on a monthly basis, and an annual gain of 6.5% (November: +0.1% MoM, 7.1% YoY). The monthly deflation number has assumed the impact of the sharp drop in gasoline and energy prices, while December’s annual rate is perceived to still be uncomfortably high.

The 10-year US Treasury yield yesterday fell 8 basis points at 3.535%, and the yield on the policy-sensitive 2-year Treasury declined by 4 basis points at 4.218%.

Yesterday, the price of WTI rose by 3.1% at USD77.5 a barrel ahead of the release of the US CPI data today, widely expected to continue to soften. The USDIDR closed at  IDR15,527 vs. IDR15,589 the previous one.

 Cheers,