JCI touched an all-time high of 7,354, before finally closing slightly lower by 7 points to a level of 7,203. Market participants were looking forward to the release of US CPI data for the March period on an annual basis, which is projected to be 50 bps higher than the previous month.
From external sentiment, there is another signal of recession in the United States (US) bond market, with yield inversions on the US Treasury series UST2Y and UST10Y. Meanwhile, the yield on UST10Y rose to 2.66%, the highest level in the last three years.
As there are only four trading days, JCI’s movement this week may potentially re-test new high with a projected range of 7,100 – 7,400.
The increase in the energy and basic materials sectors supported the Jakarta Composite Index (JCI) which rose 1.2% to 7,210 this weekend.
Perseroan adalah perusahaan yang bergerak di bidang perdagangan furnitur online. Sebagai salah satu pionner di penjualan online, Perseroan diundang untuk bekerja sama dengan berbagai marketplace, salah satunya JD.ID dimana Perseroan memperoleh penghargaan sebagai toko furniture pertama di marketplace tersebut.
In addition, the Fed is also considering a more aggressive increase in the Fed Funds Rate than just 25 bps.
This decline was influenced by the needs to pay the government’s foreign debt. NHKSI Research projects JCI to move upward in the range of 7,100-7,200.
This has caused a number of investors to take profit taking yesterday. Most of the benchmark government securities recorded an increase in yields, with yields on FR0091 at the level of 6.77%. Market participants also responded negatively to the news of Deutsche Bank, the first bank on Wall Street to project a US recession in late 2023 or early 2024, due to the Fed’s aggressive stance.
The wait-and-see attitude for the Fed’s minutes led a number of investors to take profit-taking yesterday.
