The JCI March 30, 2022

𝐌𝐚𝐫𝐜𝐡 𝟑𝟎, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟓𝟎𝐩𝐭 – 𝟕,𝟎𝟖𝟎𝐩𝐭   (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟏𝟐𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐞𝐧𝐝𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐣𝐨𝐛 𝐨𝐩𝐞𝐧𝐢𝐧𝐠𝐬 𝐝𝐚𝐭𝐚 𝐨𝐟 𝟏𝟏.𝟑𝐦𝐧 𝐮𝐧𝐢𝐭𝐬 𝐰𝐡𝐢𝐜𝐡 𝐠𝐞𝐧𝐞𝐫𝐚𝐥𝐥𝐲 𝐦𝐚𝐭𝐜𝐡𝐞𝐝 𝐮𝐩𝐛𝐞𝐚𝐭 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (3/30) is expected to trade between 6,950pt – 7,080pt  to attempt higher and supported by bargain hunters.  The JCI today is expected also to be supported by improving COVID-19 new cases rate in capital Jakarta city, at a stable and improving trend at 6.0%, the latest positivity rate data (year-to-date high:  26%, year-to-date low: 1.0%).

Wall Street yesterday (3/29) ended with the DJIA closed higher by 338pt or 1.0% to 35,294pt, while the S&P500 and the Nasdaq Composite  closed higher by 1.8% and by  1.9%, respectively. On Tuesday, the main yield spread traders watch, that between the 2-year and the 10-year rate, came close to inverting but stayed positive. On Monday, 5-year and 30-year Treasury yields invert for the first time since 2006.  At the other end, the yield on the benchmark 10-year Treasury note fell by 8bp  to close at 2.4%.

Yesterday  the WTI  price closed lower by 1.6% to USD104.2/barrel against the previous close, extending losses from the previous day also on the news that  Russia called peace talks with Ukraine constructive. Ukrainian and Russian negotiators met in Turkey for the first face-to-face talks in nearly three weeks. Meanwhile, the USDIDR closed  at IDR14,364  vs. IDR14,360  the previous one.

Cheers,