The lockdown in China had caused world oil prices to fall, due to the threat to demand and consumption. Towards the end of the week, NHKSI Research projects that the JCI will move upward within the same range of around the 7,000 to 7,100.
Yield FR0090 was up nearly 5 bps. Yesterday’s market movements were also influenced by Russia and Ukraine preparing to hold face-to-face peace talks.
The lockdown in China has again raised fears of an economic slowdown, causing the prices of a number of commodities to be suppressed due to the threat to demand and consumption. NHKSI Research projects that the JCI will move upward in the range of 7,000-7,100.
Meanwhile, energy prices that still overshadow the inflation outlook, and the depreciation of the rupiah by 0.15% to the level of IDR 14,363/USD, colored the movement of the Government Securities (SBN) market earlier in the week.
JCI once again touched its highest level of 7,051, before finally closing at 7,049. Energy prices, which still overshadowed the inflation outlook, and the depreciation of the rupiah by 0.15% to the level of IDR 14,363/USD, influenced JCI’s movement earlier in the week.
The positive sentiment came from external sources, namely a drop in oil prices of more than 2%, and a meeting of Western leaders who united against the Russian invasion of Ukraine.
Meanwhile, Markit will also announce Indonesia’s Manufacturing PMI which was recorded at 51.2 for February 2022.
The JCI closed 0.7% lower on Friday, but was still above the psychological level of 7,000. Investors realized their profits, after the JCI touched a historical high on Thursday.
Adjustment of Value Added Tax (VAT) based on Regulation Number 7 Year 2021.
