The JCI January 9, 2023

𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟗, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟔𝟒𝟎𝐩𝐭 – 𝟔,𝟕𝟗𝟎𝐩𝐭  (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟔,𝟔𝟖𝟓𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟑%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐡𝐢𝐠𝐡𝐞𝐫 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐥𝐞𝐬𝐬 𝐚𝐠𝐠𝐫𝐞𝐬𝐬𝐢𝐯𝐞 𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞 𝐡𝐢𝐤𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐬 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)  𝐭𝐡𝐢𝐬 𝐲𝐞𝐚𝐫

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

Morning,

The Jakarta Composite Index (JCI) today (1/9) is expected to trade between 6,640pt– 6,790pt to attempt higher and be supported by bargain hunters. The JCI today is also to be supported by positive sentiment from the Asia-Pacific market along with the news that   mainland China had resumed quarantine-free travel over the weekend.

Friday last week (1/6) on Wall Street, the DJIA closed higher by 701 points or 2.1% to 33,631pt, while the S&P500 and the Nasdaq closed higher by 2.3% and 2.6%, respectively.  A mix of higher expectations of less aggressive monetary policy tightening and of recession in the US for this year has driven the equity and bond market on Wall Street for now.

The 10-year US Treasury yield yesterday fell nearly 16 basis points at 3.567%, and the yield on the policy-sensitive 2-year Treasury last traded 19 basis points higher at around 4.264%.

Last week, the price of WTI rose 10 cents or 0.1%  at USD73.77 a barrel, mainly on softening USD Index. The USDIDR closed at  IDR15,635 vs. IDR15,610 the previous one.

Cheers,