The JCI July 19, 2022

𝐉𝐮𝐥𝐲 𝟏𝟗, 𝟐𝟎𝟐𝟏

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟓𝟖𝟎𝐩𝐭 – 𝟔,𝟕𝟎𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟔𝟓𝟗𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟎.𝟖%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐚𝐬 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬’ 𝐟𝐞𝐚𝐫 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐫𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐡𝐞𝐢𝐠𝐡𝐭𝐞𝐧𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐩𝐨𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐟 𝟏𝟎𝟎 𝐛𝐚𝐬𝐢𝐬 𝐩𝐨𝐢𝐧𝐭𝐬 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐒  𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐫𝐚𝐭𝐞𝐬, 𝐭𝐨 𝐛𝐞 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐝 𝐭𝐡𝐞 𝐞𝐧𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐧𝐭𝐡 (𝟕/𝟐𝟕)

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

Morning,

The Jakarta Composite Index (JCI) today (7/19) is expected to trade between 6,580pt – 6,700pt  to hold ground and supported by bargain hunters.  Aside from external uncertainties, the JCI’s move today is expected to be restrained by the last record of positivity rate (PR) of COVID-19 new cases in the capital city Jakarta.  The latest PR record stood at 17.4% (7/17) , a new high since since February 28 of 12.7%.

Yesterday (7/18), Wall Street ended with the DJIA closed lower by 216 points or 0.7% to 31,073pt, while the S&P500 and the Nasdaq both  closed lower by 0.8%.  Meanwhile, the yield of the US 10-year Treasury note closed higher by 6bp to 2.96%. The inversion between the 2-year and 10-year notes remained yesterday, with the yield of the 2-year US Treasury notes last seen at 3.164%.

Yesterday,  the WTI price closed higher by 5.2% to  USD102.6/barrel, mainly on supply worries along with the news that Russian gas export monopoly Gazprom declared force majeure on gas supplies to one major customer in Europe. Meanwhile, the USDIDR closed  at IDR14,999  vs. IDR14,985 the previous one.

Cheers,