JCI was able to continue strengthening by increasing 0.77% to 6,270, even though foreign investors were recorded to have sold net. Investors will pay close attention to companies’ financial statements and the announcement of the BI-7DRRR interest rate this week. As for today, JCI is expected to move in the range of 6,200-6,330.
JCI movement rate was still influenced by domestic sentiments such as Micro Scale Enforcement of Restrictions on Public Activities on 9-22 February and the release of Consumer Confidence Index for the January 2021 period which still decreased slightly. However in the past week, JCI continued rally and closed in the green.
With the Covid-19 case, a number of market players are again interested in risky assets such as stocks.
JCI managed to gain 1.15% over the past week. Investors will pay close attention to the release of trade balance data as well as the results of the Bank Indonesia Board of Governors (RDG) Meeting, particularly on the BI-7DRRR interest rate this week. JCI movement today is estimated at the range of 6,150-6,287.
China released data on January inflation which fell 0.3% on an annual basis. This figure indicates that the purchasing power of the Chinese people is again being depressed.
JCI movement was still consolidating ahead of the Chinese New Year holiday. Even though there tends to be minimal new sentiment, investors are appreciative of the number of new Covid-19 cases which seem to have started to decline. For today, JCI is projected to move in the range of 6,150 – 6,250.
PBS029 which matures on March 15, 2034 recorded a nominal won of up to IDR 4.3 trillion, the highest of any other series of around IDR 1.1 trillion (SPNS10082021) to IDR 2.3 trillion ( PBS004).
Profit taking that occurred yesterday caused JCI to decline after four consecutive days of increases. Despite the lack of new sentiment, the stock market will try to rebound on the back of strengthening commodity prices. Today, JCI is predicted to move in the range of 6,150-6,286.
The Bank Indonesia (BI) consumer survey recorded the Consumer Confidence Index (IKK) for the period of January 2021 at 84.9.
