The JCI September 23, 2022

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟐𝟑, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟏𝟔𝟓𝐩𝐭 – 𝟕,𝟐𝟕𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟐𝟏𝟗𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐬𝐨𝐦𝐞 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐬𝐮𝐩𝐩𝐨𝐫𝐭𝐞𝐝 𝐛𝐲 𝐝𝐞𝐟𝐞𝐧𝐬𝐢𝐯𝐞 𝐬𝐭𝐨𝐜𝐤𝐬 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐟𝐞𝐚𝐫𝐞𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐮𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐫𝐞𝐜𝐞𝐬𝐬𝐢𝐨𝐧 𝐛𝐨𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐚𝐧𝐝 𝐰𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐚𝐠𝐠𝐫𝐞𝐬𝐬𝐢𝐯𝐞 𝐭𝐢𝐠𝐡𝐭𝐞𝐧𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒

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

Morning,

The Jakarta Composite Index (JCI) today (9/23) is expected to trade between 7,165pt –7,270pt  to attempt higher and is supported by bargain hunters.

The JCI is expected to be supported by domestic positive factors.  Also, September’s Bank Indonesia decision to increase the BI7D-RR  by 50bp to 4.25% is expected to further support the USDIDR.

Meanwhile, yesterday  (9/22) Wall Street ended with the DJIA closed lower by 107 points or 0.4% to 30,077pt, while the S&P500 and the Nasdaq closed lower by 0.8% and 1.4%, respectively.

On the other end, the yield on the benchmark 10-year Treasury note climbed by 7 basis points to close at 3.71% yesterday. The 2-year Treasury yield rose by 12 basis points to 4.122%, and further in the inversion trend to its 10-year counterpart.

Yesterday, the price of  WTI for the October contract closed higher by 0.8% at  USD83.7/barrel, mainly supported by the ongoing sector’s supply constraint.  Meanwhile, the USDIDR closed at  IDR15,033 vs. IDR15,011 the previous one.

Cheers,