Government’s Commitment to Maintain Fair SUN Yield
The bid to cover (BTC) ratio in the auction of Government Securities (SUN) yesterday was 2.12x.
Daily Report | 17 March 2021
Contrary to the direction of regional stock markets, JCI’s move on yesterday’s decline was dragged by commodity-based stocks. Investors tend to wait and see ahead of the results of the FOMC and BI RDG meetings which will be announced tomorrow. Technically, today JCI is expected to move in the range of 6,296 – 6,400.
Economic Recovery Signals, Investors Expect Higher Yields
The Central Statistics Agency (BPS) recorded that Indonesia’s exports in February 2021 were valued at USD 15.2 billion, growing by 8.5% YoY.
Daily Report | 16 March 2021
JCI experienced a fairly reasonable correction after the high rise at the end of last week. Rupiah exchange rate fluctuations remain a heavy sentiment, while market players will also continue to watch companies’ financial report performance releases for the 2020 financial year. Today, JCI is expected to consolidate in the range of 6,300-6,400.
Increase in Inflation Pushes Higher Yield Expectations
Last Thursday, the yield on the 10-year US Treasury (UST) rose again to near the 1.6% level.
Weekly Report | 15 March 2021
After the lack of domestic sentiments, this week investors will be paying close attention to the release of economic data such as February 2021 Trade Balance, and the result of BI Board of Governors’ Meeting. Economists projects that the balance of trade will lean to a surplus at USD2.3 billion. Meanwhile, after the cut in the previous month, BI is predicted to maintain BI-7DRRR benchmark interest rate at 3.5%.
Daily Report | 15 March 2021
In line with global and regional markets, JCI was also able to increase by 1.5% last week; although tinged with foreign net sell action of IDR 1.4 trillion. The release of the trade balance and the BI Board of Governors Meeting will be the focus of investors in the next week. The JCI movement today is estimated to have the potential to continue strengthening with the range of 6,300 – 6,400.
Government Wins All Bids
In the Sukuk auction the day before, the government only managed to absorb IDR 4.5 trillion in funds.
Daily Report | 12 March 2021
JCI is expected to be able to continue strengthening towards the end of the week. The accumulation of positive international news during the trading holiday yesterday, has the potential to be a driving factor for the stock market today. The JCI movement range is projected to be at 6,225 – 6,325.
