The JCI May 4, 2023

𝐌𝐚𝐲 𝟒, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟕𝟓𝟎𝐩𝐭 – 𝟔,𝟗𝟎𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟖𝟏𝟑𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐬𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞  𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤’𝐬 𝐜𝐡𝐚𝐢𝐫𝐦𝐚𝐧 𝐉𝐞𝐫𝐨𝐦𝐞 𝐏𝐨𝐰𝐞𝐥𝐥 𝐜𝐢𝐭𝐢𝐧𝐠 𝐭𝐨 𝐫𝐮𝐥𝐞-𝐨𝐮𝐭  𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞 𝐜𝐮𝐭𝐬 𝐢𝐧 𝐟𝐚𝐯𝐨𝐫 𝐨𝐟 𝐟𝐮𝐫𝐭𝐡𝐞𝐫 𝐝𝐞𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐫𝐚𝐭𝐞𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (5/4) is expected to trade between 6,750pt–6,900pt to attempt higher and be supported by bargain hunters.

Yesterday (5/3) on Wall Street, the DJIA closed lower by 367 points or 0.8% to 33,414pt, while the S&P500 and the Nasdaq closed lower by 0.7% and 0.5%, respectively. Yesterday, the FOMC of the US central bank agreed to increase the policy rate by 25 basis points to 5.00% – 5.25%, as expected.

Meanwhile, the 10-year US Treasury slid 8  basis points to 3.364%.  The yield on the 2-year Treasury was trading lower by 11 basis points at 3.867%.

Yesterday, the price of WTI closed lower by 4.3% to USD68.6/ barrel, mainly on concerns about demand prospects and a higher chance of economic recession following the hike of the policy rate in the US.  Meanwhile, the USDIDR closed at IDR14,706 vs. IDR14,703  the previous one.

Cheers,