The JCI January 15, 2024

𝐉𝐚𝐧𝐮𝐚𝐫𝐲  𝟏𝟓, 𝟐𝟎𝟐𝟒

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟗𝟎 -𝟕,𝟑𝟎𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 ( 𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟒𝟏 𝐩𝐨𝐢𝐧𝐭𝐬 )

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝟎.𝟒%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐛𝐫𝐨𝐚𝐝𝐞𝐫 𝐯𝐢𝐞𝐰 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐦𝐨𝐧𝐞𝐭𝐚𝐫𝐲 𝐩𝐨𝐥𝐢𝐜𝐲 𝐢𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐩𝐚𝐭𝐡 𝐨𝐟 𝐬𝐨𝐟𝐭𝐞𝐧𝐢𝐧𝐠 𝐬𝐭𝐚𝐫𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐜𝐡 𝐚𝐥𝐭𝐡𝐨𝐮𝐠𝐡 𝐧𝐨𝐭 𝐚𝐬 𝐚𝐠𝐠𝐫𝐞𝐬𝐬𝐢𝐯𝐞𝐥𝐲 𝐚𝐬 𝐩𝐫𝐞𝐯𝐢𝐨𝐮𝐬𝐥𝐲 𝐚𝐬𝐬𝐮𝐦𝐞𝐝

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

Morning,

The Jakarta Composite Index (JCI) today (1/15) is expected to trade in the range of  7,190 – 7,300 points to attempt higher with the support of bargain hunters.  The JCI is also expected to respond to the release of Indonesia trade data for December, widely estimated to be in order of a net surplus of USD1.59n (November: USD2.4bn).

Meanwhile, Friday last week (1/12) on Wall Street, the DJIA closed lower by 118 points or 0.31% to 37,593 points, while the S&P500 and the Nasdaq Composite closed higher by 0.08% and   0.02%, respectively.

The US producer price index fell 0.1% for the month and ended 2023 up 1% from a year ago (2022: 6.4% YoY). Economists surveyed by Dow Jones had been expecting a monthly gain of 0.1% and an annual rate of 1.4%.

The yield of the 10-year  US  Treasury note ticked lower by 3 basis points to3.946%, while the yield on the 2-year Treasury bond declined  by 11 basis point at 4.155%.

Last week, the WTI futures contract for February rose  by 1.0% at USD72.68/barrel, mainly on supply concerns along with the news that Britain and the US carried out military strikes against targets in Houthi-controlled areas of Yemen, as tensions in the Red Sea mount further. Meanwhile, the USDIDR closed at IDR15,559 vs. IDR15,558 the previous one.

Cheers,