Green Option Closes Sukuk Auction 1Q21
Yesterday, the government won the auction of State Sharia Securities (SBSN / Sukuk) worth IDR 6.4 trillion, or lower than the indicative target set at IDR 12 trillion.
Daily Report | 24 March 2021
Diminishing prospects for world economic recovery resulted in the decline of oil prices which fell by 6% yesterday. For today, JCI still has the potential to continue its decline with a range of movements at 6,167-6,344.
CDS Increase Early Week, Benchmark SUN Prices Strengthen
External sentiment is still the main factor for foreign investors’ capital outflow from the Indonesian bond market.
Daily Report | 23 March 2021
Investors will look at the increase in Covid-19 cases in several European countries that may trigger lockdown policies and the development of the Turkish currency crisis. Today, JCI is expected to be in the range of 6,296-6,300.
High Inflation Triggers UST Yield Increase
The increase in US Treasury (UST) yields occurred again, a day after the Fed will maintain an extra loose monetary policy.
Weekly Report | 22 March 2021
JCI this week will still be in the consolidation phase due to the lack of both domestic and international economic data releases. However there are some market indicators which will be the focus of investors. Some of them are: USD/IDR exchange rates at 14,400; US 10-year bond yield that breaks through 1.7; and crude oil price which dropped back to USD 60/barrel.
Daily Report | 22 March 2021
With the lack of new sentiment this week, investors’ focus will be on the movement of several macroeconomic indicators, such as: the Rupiah exchange rate, bond yield levels, and world commodity prices. For today, JCI is expected to consolidate in the range of 6300-6400.
Daily Report | 19 March 2021
The decision of the Federal Reserve and Bank Indonesia to maintain interest rate policy was the support for the strengthening of the JCI yesterday. However, rising bond yields and potential profit taking have the opportunity to put pressure on the stock market today. JCI movement is estimated to be in the range of 6,300-6,400.
Daily Report | 18 March 2021
Sentiment from the US is expected to be a breath of fresh air for JCI to end the decline that has occurred over the past 3 days. Market players will also keep an eye on the outcome of the BI RDG meeting which is expected to maintain the benchmark interest rate at 3.5%. Today, JCI has the opportunity to strengthen with a range of movement at 6,250 – 6,350.
