The JCI September 12,2022

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟏𝟐, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟏𝟗𝟎𝐩𝐭 – 𝟕,𝟑𝟏𝟎𝐩𝐭  (𝐅𝐫𝐢𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟒𝟑𝐩𝐭 )

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟏%, 𝐭𝐨 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐫𝐞𝐛𝐨𝐮𝐧𝐝 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐡𝐮𝐧𝐭𝐞𝐫𝐬 𝐰𝐡𝐨 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝-𝐒𝐭𝐚𝐭𝐞𝐬’ (𝐔𝐒) 𝐫𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐬𝐭𝐚𝐭𝐮𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (9/12) is expected to trade between 7,190pt –7,310pt  to attempt higher and is supported by bargain hunters. Upside to the JCI, today is expected to be restrained by planned labor protests in the capital city Jakarta.

Meanwhile, Friday last week (9/9) Wall Street ended with the DJIA closed higher by 377 points or 1.2% to 32,152pt, while the S&P500 and the Nasdaq closed higher by 1.5% and 2.1%, respectively.

On the other end, the yield on the benchmark 10-year Treasury note rose 2 basis points to 3.32% yesterday, and the 2-year Treasury yield traded 1  basis point higher to 3.56%, continuing to be in a  yield-spread inversion trend.

Yields had ticked upward after the European Central Bank on Thursday hiked interest rates by 75 basis points, raising its deposit rate to 0.75% from zero, in a largely expected hawkish move to counter fast-rising inflation.

Last week (9/9), the WTI price was higher by 3.7%  at USD86.7/barrel, mainly on supply fear along with news that Russian President Vladimir Putin has threatened to halt oil and gas exports to Europe if price caps are imposed. Meanwhile, the USDIDR closed at  IDR14,846 vs. IDR14,905 the previous one.

   Cheers,