Daily Report | 20 Sept 2021

JCI managed to strengthen throughout last week; supported by net foreign purchases worth IDR 1.48 trillion.

China Data Press SUN Benchmark

Market participants responded negatively to China’s August retail sales which only grew 2.5%, as well as consumer spending data, which was far below the 7% growth forecast.

Daily Report | 17 Sept 2021

The JCI is still in the consolidation phase amidst the lack of new positive sentiment. Investors are likely to be cautious ahead of the Federal Reserve’s meeting next week, which is expected to give a clearer signal on the direction of monetary policy. Towards the end of the week, JCI’s range of movement is expected to remain in the area of 6,050 – 6,150.

High Surplus Trade Balance, FR0088 at Par

Benchmark yields closed lower, following the release of data on Indonesia’s trade balance, which rose above market expectations. The benchmark 15-year Government Bond (SUN) FR0088 closed at price and yield levels, at 100.06 and 6.24%, based on Bloomberg data.

Daily Report | 16 Sept 2021

From domestic market, the JCI was again pressured by profit taking action, with the biggest drop came from Industrial Sector which had a 0,9% decline. Tapering plans from the Federal Reserve and declining Covid-19 cases are still the two main sentiments around the market. For today, the JCI is projected to remain in consolidation phase at the 6.050 – 6.150 area.

Daily Report | 15 Sept 2021

Domestically, the JCI managed to score a rebound supported by increases in 10 of the 11 sectoral indexes. Investors appreciate the continued decline in the number of active Covid-19 cases and some easing in PPKM rules set by the government. Technically, JCI still has the opportunity to strengthen, limited to the range of 6,100 – 6,169.

SUN Mixed As Dollar Index Rises

The United States (US) dollar strengthened to its highest in two weeks compared to other major currencies on Monday, as market expectations about the possibility of the Federal Reserve starting tapering stimulus increased. The US Dollar Index rose 0.3% to 92.88 in early trade, its highest level since Aug. 27. The benchmark 10-year government bond yield FR0087 closed up 1.3 bps to 6.13%.

Daily Report | 14 Sept 2021

JCI started the week with a slight decline, although foreign investors still recorded Net Buys. The Indonesian government decided to extend PPKM until September 20, 2021, with a decrease to level 3 for Bali. For today, JCI has the potential to rebound with a projected range of movement at 6,050 – 6,150.