The JCI September 20, 2022

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟐𝟎, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟕,𝟏𝟓𝟎𝐩𝐭- 𝟕,𝟐𝟕𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟗𝟔𝐩𝐭)

*  𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐥𝐦𝐨𝐬𝐭 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐫𝐞𝐛𝐨𝐮𝐧𝐝, 𝐮𝐬𝐮𝐚𝐥𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧-𝐟𝐫𝐢𝐞𝐧𝐝𝐥𝐲 𝐜𝐨𝐮𝐧𝐭𝐞𝐫𝐬 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐠𝐞𝐭 𝐩𝐫𝐞𝐩𝐚𝐫𝐞𝐝 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤 𝐭𝐨 𝐝𝐞𝐜𝐢𝐝𝐞 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐟𝐚𝐭 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐨𝐟 𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐫𝐚𝐭𝐞, 𝐭𝐨 𝐛𝐞 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐝 𝐭𝐨𝐦𝐨𝐫𝐫𝐨𝐰 (𝟗/𝟐𝟏)

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

Morning,

The Jakarta Composite Index (JCI) today (9/20) is expected to trade between 7,150pt –7,270pt  to attempt higher and is supported by bargain hunters.

Meanwhile, yesterday  (9/19) Wall Street ended with the DJIA closed higher by 197 points or 0.6% to 31,020pt, while the S&P500 and the Nasdaq closed higher by 0.7% and 0.8%, respectively.

On the other end, the yield on the benchmark 10-year Treasury note climbed 6 basis points to close at 3.518% yesterday, the highest level since 2011. The 2-year Treasury yield also rose by 9 basis points at 3.949%, trading around levels not seen since 2007.

Yesterday, the price of  WTI for the October contract closed higher by 0.5% at  USD85.5/barrel, mainly driven by tight supply. As indicated by a document circled, OPEC+ fell short of its oil production target by 3.583 million barrels per day (BPD) in August, and in July,  it missed the target by 2.892 million BPD. Meanwhile, the USDIDR closed at  IDR14,980 vs. IDR14,939 the previous one.

 Cheers,