JCI was still able to continue its upward trend through the 6,200 level, amid the release of the IKK figure which had dropped to 84.9. Investors will measure the impact of social restrictions as it enters the Micro PPKM phase, both on the economy and on the handling of the pandemic. For today, JCI is expected to move in the range of 6,150-6,250.
The Central Statistics Agency reported that Indonesia’s economic growth in 2020 grew negatively, or contracted -2.07%.
Global investors will pay attention to the development of the USD 1.9 Tn US stimulus aid package proposed by Biden’s administration, which is expected to pass. Domestically, the season of 2020 financial statement release has started and will be the focus of investors in the coming weeks. Meanwhile, some economic indicators such as the Consumer Confidence Index and Balance of Trade are also scheduled to be published this week.
JCI was also able to book an increase of 4.94% over the past week. The issuer’s performance release for the 2020 financial year is expected to be the main focus of investors for the foreseeable future. For today, JCI is expected to be able to continue strengthening with a range of movement at 6,090-6,250.
The Jakarta Composite Index (JCI) closed up 0.48% to the level of 6,107.21, after foreign investors made a net purchase of IDR 495 billion on the regular market.
The strengthening of the JCI in early February has brought the benchmark index back to 6,100. The schedule for the release of 2020 economic growth figures and the continuation of social restrictions in the capital will be the focus of investors. Towards the end of the week, JCI is projected to move in the range of 6,000 – 6,179.
The majority of the benchmark series Government Bond (SUN) prices closed higher, with the highest increase in the 15-year tenor FR0088 closing at 101.14, according to Bloomberg data.
JCI seems to be moving within a reasonable consolidation range. Investors are paying close attention to the discourse on the implementation of a lockdown for weekends in the Jakarta area. For today, JCI is estimated to move between 6,000-6,157.
The government is aggressively winning the two 5-year and 10-year benchmark series, each worth IDR 12.4 trillion at the Government Securities (SUN) auction last Tuesday.
