Yesterday’s movement in the Government Securities (SUN) market was in the midst of the release of data on Foreign Exchange Reserves (Cadev) which was relatively stable. The easing of concerns about the impact of the Covid-19 variant of the Omicron has again raised investor optimism. On the other hand, investors are still watching the yield on the 10-year US Treasury rise above the 1.4% level; after dropping last week.
Yesterday’s strengthening of JCI managed to bring the benchmark index back above the 6,600 level. The government cancels the implementation of PPKM level 3 in its entirety during the Christmas-New Year period, although it will continue to apply some tighter rules. Technically, JCI has the potential to continue rally with a projected range of 6,550-6,650.
The rupiah exchange rate weakened to the level of IDR 14,447/USD, before finally closing at the level of IDR 14,438/USD.
JCI was slightly up by 0.13%, supported by an increase in the energy sector of 0.94%. Bank Indonesia is scheduled to release the position of Indonesia’s Foreign Exchange Reserves for November 2021; after being recorded at USD 145.5 billion in the previous month. Technically, JCI has the potential to move higher in the range of 6,500-6,600.
The rupiah exchange rate touched the level of IDR 14,400/USD, before finally closing at the level of IDR 14,398/USD at the weekend, based on Bloomberg data.
JCI’s movement this week may potentially be influenced by various global and domestic sentiments.
The development surrounding the Omicron variant of the Covid-19; which has been detected in the Southeast Asia region; is still a scourge for stock market movements.
The benchmark 20-year government bonds (SUN) yield touched the psychological level of 7%.
Bursa Efek Indonesia akan mulai menerapkan beberapa penyesuaian baru terkait mekanisme perdagangan bersamaan dengan penutupan kode broker mulai 6 Desember 2021 mendatang.
