The JCI December 29, 2021

Dᴇᴄᴇᴍʙᴇʀ 29, 2021

* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 6,560ᴘᴛ – 6,660ᴘᴛ  (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 6,598ᴘᴛ)

* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴇɴᴅᴇᴅ ᴡɪᴛʜ ᴍᴀᴊᴏʀ ᴇǫᴜɪᴛʏ ɪɴᴅɪᴄᴇs ᴄʟᴏsᴇᴅ ᴍɪxᴇᴅ, ᴀs ɪɴᴠᴇsᴛᴏʀs ᴘʀᴇꜰᴇʀ ɴᴏʀᴍᴀʟ ᴇᴄᴏɴᴏᴍɪᴄ ɢʀᴏᴡᴛʜ ᴄᴏᴜɴᴛᴇʀs, ɪɴ ᴀɴᴛɪᴄɪᴘᴀᴛɪᴏɴ ᴏꜰ ʜɪɢʜᴇʀ ɪɴᴛᴇʀᴇsᴛ ʀᴀᴛᴇs ᴄʟɪᴍᴀᴛᴇ ɪɴ ᴛʜᴇ Uɴɪᴛᴇᴅ Sᴛᴀᴛᴇs (US)

* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ ꜰʟᴜᴄᴛᴜᴀᴛᴇ ᴀɴᴅ sᴜᴘᴘᴏʀᴛᴇᴅ ʙʏ sᴛᴀʙʟᴇ USDIDR ᴀɴᴅ ᴏɪʟ-ᴄʟᴏsᴇ

Morning,

The Jakarta Composite Index (JCI) today (12/29) is expected to trade between 6,560pt – 6,660pt to be mostly in green also on the back of  bargain hunters.  Meanwhile, yesterday (12/28) in Wall Street, the DJIA closed higher by 96pt or 0.3% to 36,398pt, while the S&P500 and the Nasdaq Composite both  closed lower,  by 0.1% and 0.6%, respectively.   Bond markets in Indonesia and in one of the Advanced Economies are stable.

In the end, in the domestic news,  the planned salary cut in the state-owned Pertamina is cancelled after the company’s workers threatened to strike.  This is an unnecessary event, we reckon, as employer should have better understanding of employees’ nature. The event is seen even more “provocative” given the higher trend of world oil price that may legitimate any increase of selling price by the company.

At the other end, yesterday   the WTI price closed higher by 0.5% to USD76.0/barrel,  also due to speculators’ additional long position in response to the sector’s assumed- supply imbalance. Meanwhile, the USDIDR closed  at IDR14,237  vs. IDR14,225 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,