The JCI June 20, 2023

𝐉𝐮𝐧𝐞 𝟐𝟎, 𝟐𝟎𝟐𝟑

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:  𝟔,𝟔𝟒𝟎𝐩𝐭 – 𝟔,𝟕𝟔𝟎𝐩𝐭   (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟔𝟖𝟔𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐰𝐚𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐟𝐨𝐫 𝐩𝐮𝐛𝐥𝐢𝐜 𝐡𝐨𝐥𝐢𝐝𝐚𝐲

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

Morning,

The Jakarta Composite Index (JCI) today (6/20) is expected to trade between 6,640pt–6,760pt to hold ground and be supported by bargain hunters.  The JCI today is expected to share general external unfavorable vibes technical rebound has always been a possibility given the domestic stability.

European markets fell at the start of the new trading week yesterday (6/19) as investors remained jittery over the economic outlook. The benchmark Stoxx 600 index closed 1% lower, with almost all sectors in negative territory. On the other end, the Bank of England will announce its latest interest rate decision on Thursday, along with the Swiss National Bank.   Meanwhile, Friday last week (6/16) on Wall Street, the DJIA closed lower by 109 points or 0.3% to 34,299pt, while the S&P500 and the Nasdaq closed lower by 0.4% and 0.7%, respectively.

Yesterday, the price of WTI closed lower by 1.5% to USD70.7/ barrel, mainly as traders are monitoring the announcement of China’s stance on its benchmark loan prime interest, widely expected to be lower. China’s central bank PBOC was reported to have cut its medium-term policy loans last week. Meanwhile, the USDIDR closed at IDR14,994 vs. IDR14,945 the previous one.

Cheers,