The JCI December 22, 2021
Dᴇᴄᴇᴍʙᴇʀ 22, 2021
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 6,500ᴘᴛ -6,610ᴘᴛ (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 6,554ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴇɴᴅᴇᴅ ᴡɪᴛʜ ᴍᴀᴊᴏʀ ᴇǫᴜɪᴛʏ ɪɴᴅɪᴄᴇs ᴄʟᴏsᴇᴅ ʜɪɢʜᴇʀ ʙʏ ᴄʟᴏsᴇ ᴛᴏ 2% ᴍᴀɪɴʟʏ ᴀs ʙᴀʀɢᴀɪɴ ʜᴜɴᴛᴇʀs sᴘᴏᴛᴛᴇᴅ ᴀɴ ᴏᴠᴇʀsᴏʟᴅ sɪᴛᴜᴀᴛɪᴏɴ ꜰᴏʟʟᴏᴡɪɴɢ sᴇʟʟ-ᴏꜰꜰ ᴅᴜʀɪɴɢ ᴛʜᴇ ᴘʀᴇᴠɪᴏᴜs 3(ᴛʜʀᴇᴇ) ᴅᴀʏs
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ꜰʟᴜᴄᴛᴜᴀᴛᴇ ᴀɴᴅ sᴜᴘᴘᴏʀᴛᴇᴅ ʙʏ sᴛᴀʙʟᴇ USDIDR ᴀɴᴅ ᴏɪʟ-ᴄʟᴏsᴇ
Morning,
The Jakarta Composite Index (JCI) today (12/22) is expected to trade between 6,500pt – 6,610pt to gain edge also on the back of bargain hunters. Issues on tighter monetary policy implementation next year by the United States (US) central bank, current higher spread of COVID-19 new variant cases in major countries such as in Europe, US and Japan are pull factors for the JCI today and in the medium term. To the contrary, if the stable COVID-19 domestic pandemic indicators can be maintained, this should eventually support the JCI.
Meanwhile, yesterday (12/21), Wall Street ended with the DJIA closed higher by 561pt or 1.6% to 35,493pt, and the S&P500 and the Nasdaq Composite also closed higher by 1.8% and 2.4%, respectively. The yield of the reference 10-year Treasury note closed higher by 6.5 bp to 1.484% in the last close. Previous sell-off in the US equity market had prompted funds’ return to the more risky assets, as a possible explanation.
At the other end, yesterday the WTI price closed higher by 3.7% to USD71.1/barrel, mainly on a technical rebound despite news that more countries to implement stricter control ahead of year-end festives to curb COVID-19 variant resurgence. Meanwhile, the USDIDR closed at IDR14,349 vs. IDR14,383 the previous one.
We advise the following recommendations, for both trading and longer-time investment purpose. 𝐀𝐀𝐋𝐈, 𝐋𝐒𝐈𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘨𝘳𝘪, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘜𝘯𝘥𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐔𝐍𝐓𝐑, 𝐈𝐓𝐌𝐆, 𝐀𝐃𝐑𝐎, 𝐏𝐓𝐁𝐀 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘢𝘭 𝘔𝘪𝘯𝘪𝘯𝘨, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐒𝐈𝐃𝐎, 𝐔𝐋𝐓𝐉, 𝐔𝐍𝐕𝐑, 𝐈𝐂𝐁𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐚𝐧𝐝 𝐀𝐂𝐄𝐒, 𝐒𝐂𝐌𝐀, 𝐌𝐀𝐏𝐈,𝐌𝐍𝐂𝐍 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘛𝘳𝘢𝘥𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵),𝐚𝐧𝐝 𝐓𝐊𝐈𝐌 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘉𝘢𝘴𝘪𝘤 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵).
Cheers,