The JCI September 6, 2023

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟔, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟗𝟓𝟎𝐩𝐭 – 𝟕, 𝟎𝟔𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟗𝟐𝐩𝐭)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟒%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐜𝐨𝐧𝐜𝐞𝐫𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐡𝐢𝐠𝐡𝐞𝐫 𝐨𝐢𝐥 𝐩𝐫𝐢𝐜𝐞𝐬 𝐭𝐨 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬(𝐔𝐒) 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐫𝐚𝐭𝐞 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐅𝐞𝐝𝐞𝐫𝐚𝐥 𝐑𝐞𝐬𝐞𝐫𝐯𝐞’𝐬 𝐦𝐨𝐯𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (9/6) is expected to trade between 6,950pt–7,060pt to attempt higher and supported by bargain hunters.

Meanwhile, yesterday  (9/5) on Wall Street, the DJIA closed lower by 196 points or 0.6% to 34,641pt, while the S&P500 and the Nasdaq Composite closed lower by 0.4% and 0.1% respectively.

The 10-year US Treasury yield was higher by 10 basis points to close at 4.27%. Also, the 2-year Treasury yield was last trading at 4.96% after increasing by 9 basis points.

Yesterday, the price of the WTI  futures closed higher by 1.3%  at USD86.7/barrel, mainly on supply concerns, along with the latest statement that Saudi Arabia and Russia to extend the current voluntary production cut until December this year (previously September).   Meanwhile, the USDIDR closed at IDR15,260 vs. IDR15,247 the previous one.

Cheers,