The JCI March 1, 2023

𝐌𝐚𝐫𝐜𝐡 𝟏, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟗𝟎𝐩𝐭 – 𝟔,𝟗𝟎𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟒𝟑𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟒%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐜𝐨𝐧𝐜𝐞𝐫𝐧𝐬 𝐨𝐟 𝐚 𝐩𝐫𝐨𝐥𝐨𝐧𝐠𝐞𝐝 𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞𝐬 𝐡𝐢𝐤𝐞 𝐛𝐲 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤

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

Morning,

The Jakarta Composite Index (JCI) today (3/1) is expected to trade between 6,790pt–6,900pt to attempt higher and be supported by bargain hunters.

The JCI today is expected to be supported by the release of February’s inflation data, estimated at a monthly rate of 0.11%  (January: 0.34%),  by a survey by CNBC Indonesia covering 12 institutions. On an annual basis, the survey points to an inflation rate of 5.4% (January: 5.28%).

Meanwhile, yesterday  (2/28) on Wall Street, the DJIA closed lower by 232 points or 0.7% to 32,657pt, while the S&P500 and the Nasdaq closed lower by 0.3% and 0.1%, respectively.

Yesterday, the 10-year United States Treasury yield declined by around 2 basis points at 3.91%, and the yield on the policy-sensitive 2-year Treasury climbed slightly to close at 4.801%.

Yesterday, the price of WTI gained by 1.8% to USD77.1/ barrel, mainly on the prospect of higher demand along with the re-opening of China’s economy. Meanwhile, the USDIDR closed at  IDR15,240 vs. IDR15,274 the previous one.

Cheers,