The JCI March 7, 2023

𝐌𝐚𝐫𝐜𝐡 𝟕, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟓𝟎𝐩𝐭 – 𝟔,𝟖𝟖𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟔,𝟖𝟎𝟕𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐬𝐥𝐢𝐠𝐡𝐭𝐥𝐲 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟏%, 𝐠𝐞𝐧𝐞𝐫𝐚𝐥𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐚𝐧 𝐮𝐩𝐠𝐫𝐚𝐝𝐞 𝐫𝐞𝐜𝐨𝐦𝐦𝐞𝐧𝐝𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐚 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐭𝐞𝐜𝐡 𝐜𝐨𝐮𝐧𝐭𝐞𝐫, 𝐀𝐩𝐩𝐥𝐞 𝐈𝐧𝐜.

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

Morning,

The Jakarta Composite Index (JCI) today (3/7) is expected to trade between 6,750pt–6,880pt to attempt higher and be supported by bargain hunters.

The financial markets are also in monitor for a US congressional testimony from the country’s central bank chairman Jerome Powell who will give remarks on what he expects for interest rates to go from here, set for today and tomorrow.

Meanwhile, yesterday   (3/6) on Wall Street, the DJIA closed higher by 41 points or 0.1% to 33,431pt, while the S&P500 and the Nasdaq closed higher by 3 points or 0.1% and lower by 0.1%, respectively.

Yesterday, the 10-year United States Treasury yield closed higher by 1  basis point at 3.971%.  The yield on the policy-sensitive 2-year Treasury added 2 basis points at 4.884%.

Yesterday, the price of WTI gained by 0.1% to USD80.5/ barrel, mainly supported by the prospect of higher demand in China along with this year’s GDP growth of an estimated 5.24% (2022: 3.0% YoY).   Meanwhile, the USDIDR closed at  IDR15,301 vs. IDR15,306 the previous one.

Cheers,