The JCI January 16, 2024

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟏𝟔, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟓𝟎 – 𝟕,𝟑𝟎𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟐𝟒 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐰𝐚𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐨𝐧 𝐩𝐮𝐛𝐥𝐢𝐜 𝐡𝐨𝐥𝐢𝐝𝐚𝐲

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

Morning,

The Jakarta Composite Index (JCI) today (1/16) is expected to trade in the range of  7,150 – 7,300 points to attempt higher with the support of bargain hunters.  The JCI is expected to be muted,  in a wait-and-see mode,  due also to a lack of regional leads.

Meanwhile in the United States (US), the producer price index was released on Friday last week and showed a fall of 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%.

Last week on Friday, the yield of the 10-year  US  Treasury note ticked lower by 3 basis points to 3.946%, while the yield on the 2-year Treasury bond declined by 11 basis points at 4.155%.

Yesterday, the WTI futures fell by 0.4 % at USD72.4/barrel, mainly being supported by supply concerns arising from geopolitical risk, particularly in the Middle East.  Meanwhile, the USDIDR closed at IDR15,555 vs. IDR15,559 the previous one.

Cheers,