The JCI March 16, 2022

𝐌𝐚𝐫𝐜𝐡 𝟏𝟔, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞:𝟔,𝟖𝟖𝟎𝐩𝐭 – 𝟕,𝟎𝟏𝟎𝐩𝐭  (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞:  𝟔,𝟗𝟏𝟖𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐡𝐢𝐠𝐡𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟐%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐨𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬’ 𝐭𝐚𝐤𝐞 𝐨𝐧 𝐭𝐡𝐞 𝐝𝐞𝐜𝐥𝐢𝐧𝐢𝐧𝐠 𝐨𝐟 𝐨𝐢𝐥 𝐩𝐫𝐢𝐜𝐞𝐬 𝐚𝐬 𝐰𝐞𝐥𝐥 𝐚𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐞𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐫𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐛𝐚𝐧𝐤 𝐝𝐮𝐫𝐢𝐧𝐠 𝐢𝐭𝐬 𝐌𝐚𝐫𝐜𝐡 𝐅𝐎𝐌𝐂

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

Morning,

The Jakarta Composite Index (JCI) today (3/16) is expected to trade between 6,880pt – 7,010  to attempt higher also by support of bargain hunters. The Jakarta financial market today is expected also to be supported also by the the country’s February trade surplus data, at USD3.8bn , higher as compared to the wide estimates of between USD1.4bn to USD3.1bn.

  The JCI  yesterday (3/15) performed as expected with domestic investors did profit-taking while foreign funds recorded a total net BUY of a relatively high IDR3.1tr.

Wall Street yesterday (3/15) ended with the DJIA closed higher by 599pt or 1.8% to 33,544pt, while the S&P500 and the Nasdaq Composite  closed higher by 2.1% and  2.9%, respectively. At the other end, the yield of the benchmark 10-year US Treasury note closed  higher by 1bp to 2.14%. Yields move inversely to prices and 1 basis point (bp)  is equal to 0.01%.

Meanwhile, yesterday the WTI  price closed lower by 6.4% against the previous close to USD96.4/barrel, also on liquidation trades ahead of the US central bank announcement during its March FOMC meeting completion today.  At the other end,  the USDIDR closed  at IDR14,321 vs. IDR14,328  the previous one.

Cheers,