Selective Government Wins FR0087 and FR0088
The two series recorded a bid to cover ratio of up to 10.7x and 13x, respectively.
Daily Report | 30 March 2021
From the domestic market, the lack of positive domestic sentiment caused JCI to open lower at the beginning of the week. The fluctuation in world oil prices will be one of the concerns of investors ahead of the OPEC meeting as well as fears of bottlenecks in distribution channels. Today, JCI is predicted to tend to move lower in the range of 6,100 – 6,225.
Incoming Bid Downtrend, and Fair Yield to Close Auction for SUN 1Q21
Today’s auction will be the last auction for Government Securities (SUN) for the 1Q21 period.
Weekly Report | 29 March 2021
The movement of JCI this week will be influenced by the release of preliminary economic data such as Manufacturing Purchasing Manager Index (PMI) and Consumer Price Index (CPI) for March 2021. After declining in February, economists project Indonesia’s Manufacturing PMI will be back to 52.0. Meanwhile a Bank Indonesia survey predicts inflation in March 2021 to be at 1.37% yoy and 0.45% ytd.
Daily Report | 29 March 2021
Throughout last week, the lack of positive catalysts triggered the JCI to decline by 2.53% even though it was able to close higher on Friday. With only 4 trading days this week, investors will focus on the release of economic data at the beginning of the month such as Inflation rate and Manufacturing PMI. Today, JCI is projected to fluctuate in the range of 6,167 – 6,279.
Low Unemployment Claims, Encourage Interest in Risk Assets
The United States Department of Labor (US) recorded 684,000 US claims for unemployment benefits last week.
Daily Report | 26 March 2021
Pressure on JCI continued, in line with concerns about a lockdown in Europe and the lack of positive domestic catalysts. Market participants will observe fluctuations in the Rupiah exchange rate and commodity prices as the driving factors today. Technically, JCI still has the chance to rebound towards the end of the week with a projected movement in the range of 6,059 – 6,250.
Debt Switch Postponed, Mixed Benchmarks
Yesterday’s postponement of the buyback auction by means of exchange (debt switch) made the prices of some Government Securities (SUN) strengthen.
Daily Report | 25 March 2021
The lack of positive catalysts continued to suppress JCI movement yesterday which declined in all sectors. However, amidst the downturn, foreign investors still booked a thin net buy of IDR 23 billion. Today, JCI has the opportunity for a technical rebound with a projected range of 6,090-6,250.
