The JCI March 15, 2023

𝐌𝐚𝐫𝐜𝐡 𝟏𝟓, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟔𝟐𝟎𝐩𝐭 – 𝟔,𝟕𝟑𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟔,𝟔𝟒𝟐𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐞𝐱𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟏.𝟓%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐝𝐫𝐢𝐯𝐞𝐧 𝐛𝐲 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐝𝐚𝐭𝐚 𝐟𝐨𝐫 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐢𝐧𝐥𝐢𝐧𝐞 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭’𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞

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

Morning,

The Jakarta Composite Index (JCI) today (3/15) is expected to trade between 6,620pt–6,730pt to attempt higher and be supported by bargain hunters.

Meanwhile, yesterday  (3/14) on Wall Street, the DJIA closed higher by 336 points or 1.1% to 31,819pt, while the S&P500 and the Nasdaq closed higher by 1.7% and 2.1%, respectively.

The consumer price index in the US rose 0.4% in February and 6% from a year ago, in line with market expectations. The probability that the Fed would raise benchmark interest rates a quarter percentage point next week increased following the report.

Yesterday, the 10-year United States Treasury yield was down by more than 17 basis points lower at 3.682%.  The yield on the policy-sensitive 2-year Treasury yield rose 22 basis points at 4.248%.

Yesterday, the price of WTI closed lower by 3.3% to USD72.3/ barrel, mainly driven by demand prospect concerns, particularly on the broader ripple effect of the collapse of the Silicon Valley Bank.  Meanwhile, the USDIDR closed at  IDR15,380 vs. IDR15,374 the previous one.

Cheers,