The JCI June 21, 2022

𝐉𝐮𝐧𝐞 𝟐𝟏, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟏𝟎𝐩𝐭 – 𝟕,𝟎𝟐𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟕𝟔𝐩𝐭)

* 𝐅𝐮𝐭𝐮𝐫𝐞𝐬 𝐭𝐢𝐞𝐝 𝐭𝐨 𝐦𝐚𝐣𝐨𝐫 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐢𝐦𝐛𝐞𝐝 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏% 𝐡𝐢𝐠𝐡𝐞𝐫 𝐨𝐧 𝐌𝐨𝐧𝐝𝐚𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐨𝐩𝐞𝐧𝐢𝐧𝐠 𝐭𝐢𝐦𝐞 𝐰𝐡𝐢𝐥𝐞 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐰𝐚𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐟𝐨𝐫 𝐩𝐮𝐛𝐥𝐢𝐜 𝐡𝐨𝐥𝐢𝐝𝐚𝐲

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

Morning,

The Jakarta Composite Index (JCI) today (6/21) is expected to trade between 6,910pt – 7,020pt  to attempt higher and supported by bargain hunters.

Investors in Indonesia stock market are in monitor on how the country’s central bank Bank Indonesia (BI) to respond on the latest development of monetary stances in the US and in other economies.

Many believe BI to start to adjust the main reference rate BI7D-RRR next month, estimated by 50bp until the year end. Relatively stable USDIDR , and inflation rates are among the main arguments. Also, the central bank had started and is expected to continue on normalisation policy by use of other tools to somehow slow the liquidity. BI is scheduled to start its June’s Board-of-Governor meeting tomorrow (6/22). Meanwhile, the yield on the 10-year Indonesia government bonds closed higher by 3bp at 7.49% yesterday.

Yesterday,   the WTI  price closed almost unchanged to  USD109.5/barrel vs. USD109.6/barrel previously, mainly supported by the sector’s tight supply.  Meanwhile, the USDIDR closed  at IDR14,836 vs. IDR14,828  the previous one.

Cheers,