๐๐ฎ๐ง๐ ๐, ๐๐๐๐
* ๐๐๐๐ ๐๐ฅ๐จ๐ฌ๐๐ ๐ก๐ข๐ ๐ก๐๐ซ ๐๐ฒ ๐๐๐๐ฉ๐ญ ๐จ๐ซ ๐.๐% ๐๐ญ ๐๐.๐๐๐๐ฉ๐ญ ๐ฒ๐๐ฌ๐ญ๐๐ซ๐๐๐ฒ (๐/๐)
* ๐๐จ๐ฐ ๐
๐ฎ๐ญ ๐ฉ๐จ๐ข๐ง๐ญ๐๐ ๐ญ๐จ ๐ก๐ข๐ ๐ก๐๐ซ ๐จ๐ฉ๐๐ง ๐ญ๐จ๐๐๐ฒ
Evening,
The DJIA index yesterday (6/6) closed higher by 181pt or 0.7% at 25.721pt while S&P500 and Nasdaq by 0.6% and 0.5%, respectively, on prospect of the Fedโs turn around monetary policy.
Today in the morning, an economic data release pointed that The U.S. economy added 75,000 jobs in May, marking the second straight month of monthly jobs growth below 100,000. Economists polled expected an increase of 180,000 jobs. As such, Dow Fut turned positive on the ground higher chance for the Federal Reserve to increase the FFR this year. Next FOMC meeting will be on June 18-19.
At the other end, the WTI price closed at USD56.8/barrel, or higher by 17 UScents than previous close on Saudi Energy Minister stating that USD60/barrel was too low to encourage investments and that Saudi will not boost production to make up for the lower oil price.
Cheers,
๐๐ก๐ ๐๐๐
๐๐๐ฒ ๐๐ ๐๐ฅ๐จ๐ฌ๐ข๐ง๐ ๐๐ญ ๐,๐๐๐๐ฉ๐ญ, +๐.๐%
Afternoon,
Against our and consensusโ estimates, the Jakarta Composite Index opened in the green and moved its way up to close by 71poins or 1.2% higher to 6,104pt. Investorsโ perception on Indonesia political climate has been the trigger factor, in our view. The government is perceived to be in control over rival Prabowo-Sandi supportersโ protests on election frauds, with medias reporting that the police has actively arrested those who are presumed assaulting the incumbent president and his allies. Presidential election fraud charges were submitted by the Prabowo-Sandi team to the Constitutional Court on May 24, while decision on the case will be announced on June 28.
Meanwhile, counters under our coverage that experienced significant rebound on May 29, include those of TKIM at IDR9,000ย (+IDR800 or 9.8%), UNVR at IDR43,500 (+IRD1,000 or 2,4%), MAPI at IDR880 (+IDR40 or 4.8%), and ASII at IDR7,200 (+IDR125 or 1,8%). On May 29 the last trading day before Eid long holiday, foreign net buy was recorded in the amount of IDR332bn and trading value of Indonesia equities reached IDR10.8tr.
At the other end, Wall Street underwent another slide on May 29 with the DJIA closed by 221pt lower or 0.9% to 25.126pt mainly to continue reflecting investorsโ worry on the trade war between the US and China which officially started early December last year. Contrary to consensusโ belief at the time, China has not acted strategically and would go steps further to ensure trade deal is fair. For example China threatened it would cut off rare earth minerals as a countermeasure in the escalated trade battle. The materials are crucial to the production of iPhones, among others. The official newspaper of the Communist Party of China, Peopleโs Daily, wrote in its commentary column the following title, ย โWe advise the U.S. side not to underestimate the Chinese sideโs ability to safeguard its development rights and interests. Donโt say we didnโt warn you!โ
Cheers,