The JCI October 24, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐𝟒, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟗𝟖𝟓𝐩𝐭 – 𝟕, 𝟏𝟎𝟎𝐩𝐭  ( 𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟕,𝟎𝟏𝟖𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝟐.𝟒%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐬𝐭𝐫𝐨𝐧𝐠 𝐭𝐡𝐢𝐫𝐝 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 𝐞𝐚𝐫𝐧𝐢𝐧𝐠𝐬’ 𝐨𝐟 𝐦𝐚𝐣𝐨𝐫 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒)-𝐛𝐚𝐬𝐞𝐝 𝐛𝐚𝐧𝐤𝐬 𝐨𝐟 𝐆𝐨𝐥𝐝𝐦𝐚𝐧 𝐒𝐚𝐜𝐡𝐬 𝐚𝐧𝐝 𝐉𝐏𝐌𝐨𝐫𝐠𝐚𝐧 𝐂𝐡𝐚𝐬𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (10/24) is expected to trade between 6,985pt – 7,100pt to gain an edge with the support of bargain hunters.

The JCI today is expected to be supported also by positive sentiment on unexpected release data of China’s 3Q22 GDP growth, at 3.9% YoY, higher than analysts’ consensus polled by Reuters, at 3.4% YoY.  

Meanwhile, Friday last week  (10/21) Wall Street ended with the DJIA closed higher by 749 points or 2.5% to 31,083pt, while the S&P500 and the Nasdaq closed higher by 2.4% and 2.3%, respectively.

The 10-year US Treasury yield, meanwhile, fell around 1 basis point at 4.22% last week. The yield on the policy-sensitive 2-year Treasury dipped by 13 basis points to 4.48%.

Friday last week, the price of  Brent crude settled up 1.21% at USD93.50 a barrel, mainly hopes of stronger Chinese demand,  also from a looming European Union ban on Russian oil.  Meanwhile, the USDIDR  closed at  IDR15,610 vs. IDR15,579 the previous one.

Cheers,