The JCI October 4, 2022

𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟒., 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟗𝟕𝟎𝐩𝐭 – 𝟕,𝟏𝟏𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟎𝟏𝟎𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐡𝐞 𝐬𝐭𝐚𝐛𝐥𝐞 𝐡𝐢𝐠𝐡𝐞𝐫 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐃𝐨𝐥𝐥𝐚𝐫 𝐈𝐧𝐝𝐞𝐱 𝐚𝐬 𝐰𝐞𝐥𝐥 𝐚𝐬 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐫𝐞𝐛𝐨𝐮𝐧𝐝

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

Morning,

The Jakarta Composite Index (JCI) today (10/4) is expected to trade between 6,970pt –7,100pt to attempt higher with the support of bargain hunters.

 The JCI may start to factor in a robust estimate of Indonesia’s third quarter GDP growth, at an estimate of 5.5% YoY by  Bank Indonesia, and of 5.6-6% YoY as quoted from  Finance Minister Sri Mulyani in the media.

Meanwhile, yesterday (10/3) Wall Street ended with the DJIA closed higher by 765 points or 2.7% to 28,726pt, while the S&P500 and the Nasdaq closed higher by 2.6% and 2.3%, respectively.

On the other end, the yield on the benchmark 10-year Treasury note fell by 15 basis points to 3.708% yesterday. The 2-year Treasury closed at 4.118%, down by 9 basis points while continuing to be in the yield-inversion trend to its 10-year counterpart.

Yesterday, the price of  WTI futures declined 51 cents to trade at $83.6 per barrel, mainly on the news that OPEC+ considered reducing output by more than 1 million barrels per day to buttress prices ahead of the members’ meeting tomorrow (10/5). Meanwhile, the USDIDR  closed at  IDR15,293 vs. IDR15,232 the previous one.

Cheers,