The JCI December 28, 2022

𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟐𝟖, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟔,𝟖𝟔𝟎𝐩𝐭 – 𝟕,𝟎𝟎𝟓𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟔,𝟗𝟐𝟑𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐨𝐥𝐝-𝐞𝐜𝐨𝐧𝐨𝐦𝐲 𝐢𝐧𝐝𝐞𝐱 𝐭𝐡𝐞 𝐃𝐉𝐈𝐀 𝐭𝐢𝐜𝐤𝐞𝐝 𝐮𝐩 𝐬𝐥𝐢𝐠𝐡𝐭𝐥𝐲 𝐡𝐢𝐠𝐡𝐞𝐫 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐠𝐞𝐧𝐞𝐫𝐚𝐥 𝐨𝐩𝐭𝐢𝐦𝐢𝐬𝐦𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐚𝐧𝐝 𝐨𝐭𝐡𝐞𝐫 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐲𝐞𝐚𝐫 𝐚𝐡𝐞𝐚𝐝

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

Morning,

The Jakarta Composite Index (JCI) today (12/28) is expected to trade between 6,860pt– 7,005pt to attempt higher and be supported by bargain hunters.

Yesterday (12/27), Wall Street ended with the DJIA closed higher by  38 points or 0.1% to 33,242pt, while the S&P500 and the Nasdaq closed lower by 0.4% and 1.4%, respectively.

The Nasdaq Composite shed nearly 1.4%, driven down by an 11% drop in the US-based Tesla stock after The Wall Street Journal reported that the electric vehicle maker would continue a weeklong production pause at a Shanghai facility.

Meanwhile, the 10-year US Treasury yield yesterday rose by 10 basis points at 3.851%, and the yield on the policy-sensitive 2-year Treasury was up by 7 basis points at 4.391%.

Yesterday, the price of  WTI crude settled 18 cents higher at USD79.7 a barrel, mainly supported by supply fear along with heavy winter in the US.  The USDIDR  closed at  IDR15,659 vs. IDR15,636 the previous one.

Cheers,