The JCI November 20, 2023

𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟏𝟎 – 𝟕,𝟎𝟑𝟎 𝐩𝐨𝐢𝐧𝐭𝐬 (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟕𝟖 𝐩𝐨𝐢𝐧𝐭𝐬)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐬𝐥𝐢𝐠𝐡𝐭𝐥𝐲 𝐡𝐢𝐠𝐡𝐞𝐫, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐬𝐭𝐚𝐫𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐩𝐞𝐫𝐦𝐢𝐭𝐬 𝐝𝐚𝐭𝐚 𝐟𝐨𝐫 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝐰𝐡𝐢𝐜𝐡 𝐰𝐞𝐫𝐞 𝐬𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐭𝐡𝐚𝐧 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝

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

Morning,

The Jakarta Composite Index (JCI) today (11/20) is expected to trade in the range of 6,910 – 7,030 points to attempt higher with the support of bargain hunters.

Meanwhile, on Friday last week (11/17) on Wall Street, the DJIA closed higher by 2 points or 0.01% to 34,947 points, while the S&P500 and the Nasdaq Composite both closed higher by 0.1%.

The  US privately owned housing starts came in at a seasonally adjusted annual rate of 1.372 million, higher than the 1.35 million estimated by Dow Jones. Building permits came in at 1.487 million, also above the 1.45 million estimate. These have been perceived by investors as a higher chance for a path of soft landing of policy rate moves by the Federal Reserve.

The yield of the 10-year  US  Treasury Note fell by 1 basis point to 4.44%, while the yield on the 2-year Treasury bond rose 5  basis points to 4.9%.

Friday, the WTI futures closed higher by 3.0% at USD75.1/barrel, mainly on technical reverse after the previous 5% loss with risks of war-driven supply disruption in the background. Meanwhile, the USDIDR closed at IDR15,504 vs. IDR15,503  the previous one.

Cheers,