The JCI September 27, 2922

𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟐𝟕, 𝟐𝟎𝟐𝟐

* 𝐓𝐡𝐞 𝐉𝐂𝐈 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐫𝐚𝐧𝐠𝐞: 𝟕,𝟎𝟕𝟎𝐩𝐭 – 𝟕,𝟐𝟎𝟎𝐩𝐭 (𝐘𝐞𝐬𝐭𝐞𝐫𝐝𝐚𝐲 𝐜𝐥𝐨𝐬𝐞: 𝟕,𝟏𝟐𝟖𝐩𝐭)

* 𝐖𝐚𝐥𝐥 𝐒𝐭𝐫𝐞𝐞𝐭 𝐞𝐧𝐝𝐞𝐝 𝐰𝐢𝐭𝐡 𝐦𝐚𝐣𝐨𝐫 𝐞𝐪𝐮𝐢𝐭𝐲 𝐢𝐧𝐝𝐢𝐜𝐞𝐬 𝐜𝐥𝐨𝐬𝐞𝐝 𝐥𝐨𝐰𝐞𝐫 𝐛𝐲 𝐚𝐫𝐨𝐮𝐧𝐝 𝟏%, 𝐦𝐚𝐢𝐧𝐥𝐲 𝐚𝐬 𝐭𝐫𝐚𝐝𝐞𝐫𝐬 𝐰𝐞𝐫𝐞 𝐫𝐞𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐢𝐧𝐠 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐚𝐜𝐞 𝐨𝐟 𝐬𝐞𝐯𝐞𝐫𝐞 𝐥𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐛𝐨𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 (𝐔𝐒) 𝐚𝐧𝐝 𝐨𝐭𝐡𝐞𝐫 𝐜𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬

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

Morning,

The Jakarta Composite Index (JCI) today (9/27) is expected to trade between 7,070pt –7,200pt  to hold ground and is supported by bargain hunters.

The JCI is expected to join regional negative sentiments, as traders worldwide yesterday faced another preceding sign of a recessionary climate.  Yesterday, as quoted from the media, the British pound slid to a record low against the dollar, at USD1.0789, following an announcement by the new United Kingdom government that it would implement tax cuts and investment incentives to boost growth.

However, the JCI today may be supported by data from Indonesia’s Budget for August, published in the domestic media last night, which recorded a surplus for this year of IDR107.4tr or 0.58% of total GDP.

Meanwhile, yesterday  (9/26) Wall Street ended with the DJIA closed lower by 330 points or 1.1% to 29,260pt, while the S&P500 and the Nasdaq closed lower by 1.0% and 0.6%, respectively.

On the other end, the yield on the benchmark 10-year Treasury note climbed by 10 basis points to close at 3.93% yesterday. The 2-year Treasury yield rose by 15 basis points to 4.34% and continued to be in the inversion trend to its 10-year counterpart.

Yesterday, the price of  WTI for the October contract closed lower by 2.3% at  USD76.9/barrel, mainly as traders continued to face a higher USDIDR index and a higher possibility of a recession.  Meanwhile, the USDIDR closed at  IDR15,119 vs. IDR15,033 the previous one.

 Cheers,