The JCI September 7, 2023

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟕, 𝟐𝟎𝟐𝟑

• 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟗𝟒𝟎𝐩𝐭 – 𝟕,𝟎𝟑𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟗𝟔𝐩𝐭)

• 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟎.𝟖%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐭𝐫𝐚𝐝𝐞𝐫𝐬’ 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐩𝐨𝐥𝐢𝐜𝐲 𝐫𝐚𝐭𝐞 𝐡𝐢𝐤𝐞 𝐚𝐭 𝐭𝐡𝐞 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝐦𝐞𝐞𝐭𝐢𝐧𝐠 𝐫𝐨𝐬𝐞 𝐭𝐨 𝐚𝐛𝐨𝐯𝐞 𝟒𝟎%

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

Morning,

The Jakarta Composite Index (JCI) today (9/7) is expected to trade between 6,940pt–7,030pt to attempt higher and supported by bargain hunters.

Meanwhile, yesterday  (9/6) on Wall Street, the DJIA closed lower by 199 points or 0.6% to 34,443pt, while the S&P500 and the Nasdaq Composite closed lower by 0.7% and 1.1% respectively.

The 10-year US Treasury yield was higher by 10 basis points to close at 4.296%. Also, the 2-year Treasury yield climbed 6 basis points to  5.027%.

Yesterday, the price of the WTI  futures closed higher by 1.0%  at USD87.5/barrel, mainly on supply concerns ahead of the release of US crude weekly inventory data (consensus estimate of -2.1mn barrels) today. Meanwhile, the USDIDR closed at IDR15,307 vs. IDR15,260 the previous one.

Cheers,