The JCI October 2, 2023

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟕𝟓𝐩𝐭 – 𝟕,𝟎𝟏𝟎𝐩𝐭 (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟒𝟎𝐩𝐭)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐛𝐞𝐢𝐧𝐠 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐀𝐮𝐠𝐮𝐬𝐭’𝐬 𝐏𝐂𝐄 𝐝𝐚𝐭𝐚 𝐰𝐡𝐢𝐜𝐡 𝐢𝐧-𝐥𝐢𝐧𝐞 𝐰𝐢𝐭𝐡 𝐜𝐨𝐧𝐬𝐞𝐧𝐬𝐮𝐬-𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (10/2) is expected to trade between 6,875pt to 7,010pt to attempt higher and be supported by bargain hunters.

The JCI is expected to respond to the release of September’s national inflation rate, at a consensus estimate of 2.2%  annually (August: 3.27%), and of 0.08% month over month (August: -0.02 %).

Meanwhile, on Friday last week (9/29) on Wall Street, the DJIA closed lower by 159 points or 0.5% to 33,507pt, while the S&P500 and the Nasdaq Composite closed lower by 0.3% and higher by 0.1%, respectively.   The US August personal consumption expenditures (PCE) price index reading came in lighter than expected on a monthly basis. The core PCE, which strips out volatile food and energy prices, rose 0.1% in August and 3.9% year over year. Economists polled by Dow Jones anticipated core PCE would gain 0.2% on a monthly basis and 3.9% year over year.

The 10-year US Treasury yield was lower by 1 basis point to 4.583%, its highest level since Oct. 18, 2007, when it yielded as high as 4.570%.  Similarly, the 2-year Treasury yield fell 1 basis point to 5.05%.

Last week, the price of the WTI  futures declined 0.8% to USD91.0/barrel, mainly on a sign of improving supply along with the latest data of production activities in the US main producers Meanwhile, the USDIDR closed at IDR15,487 vs. IDR15,464 the previous one.

Cheers,