๐๐จ๐ฏ๐๐ฆ๐๐๐ซ ๐, ๐๐๐๐
Morning,
The Jakarta Composite Index (JCI) today (11/6) is expected to trade in the range of 6,700 – 6,850 points to attempt higher with the support of bargain hunters.
Today the JCI is expected to respond to the release of Indonesiaโs economic growth data for the third quarter by the countryโs statistics office. ย Financial market practitioners expect the third quarter ย GDP figure to be higher than 5.0% year-on-year (2Q23: 5.17%).
Meanwhile, on Friday last week (11/3) on Wall Street, the DJIA closed higher by 222 points or 0.7% to 34,061pt, while the S&P500 and the Nasdaq Composite closed higher by 0.9% and 1.4% respectively.ย US nonfarm payrollsย increasedย by 150,000 in October, while economists polled by Dow Jones expected an increase of 170,000. The unemployment rate rose to 3.9%, slightly higher than the steady 3.8% forecast, while average hourly earnings increased 0.2% on the month (vs. estimate of 0.3%).
The yield of the 10-year ย US ย Treasury Note dropped 9 basis points to 4.577% while the yield on theย 2-year Treasury bond slid by 13 basis points to 4.841%.
Friday last week, the WTI futures closed lower by 2.8% to USD80.5/barrel, mainly on demand concerns along with the latest US softening labor market figures.ย Meanwhile, the USDIDR closed at IDR15,771 vs. IDR15,861 ย the previous one.
Cheers,