Revised Indonesian Economic Projection Pressures the SUN Market
International Monetary Fund (IMF) estimates that Indonesia’s 2020 Gross Domestic Product (GDP) will only contract by 1.5% in the World Economic Outlook (WEO) last October.
Daily Report | Wall Street Plunges
Domestically, the weakening global stock market may potentially put pressure on JCI amid the lack of positive catalysts. Yesterday, despite declining, buying was seen which was marked by the formation of a hammer candlestick. For today, JCI is expected to move in the range of 6,000 – 6,300.
Technology Sector Index Ramps Up in Early 2021
The technology sector has booked a significant rise of 65.31% since the beginning of the year.
Sukuk Auction Below Target, Government Again Perform Green Shoe Option
Based on data from the Directorate General of Financing and Risk Management (DJPPR). Yesterday’s auction results, the government recorded an incoming bid of IDR 23.3 trillion.
Daily Report | Global Cases Surpass 100 Million
The JCI continued to weaken, marked by a drop in prices of second-tier state-owned companies. However, positive news came from foreign investors who still booked a net buy of IDR 346 billion. Technically, the JCI tends to fluctuate with a range of movements at the level of 6,090-6,400.
SUN Relatively Strengthens Amid The Waiting for the Release of GDP Data
The majority of Government Securities (SUN) were collected by market players yesterday, except for the 5-year tenor, 15-year tenor and 25-year long tenor which were relatively released by investors.
Daily Report | Lack of Positive Catalysts
The lack of positive catalysts caused JCI to decline for the third day in a row. The attention of investors is focused on developments surrounding the polemic of the BPJS Employment investment fund. Technically, JCI today has the potential to rebound with a range of movement at 6,148 – 6,450.
Weekly Report | 25 January 2021
The release of US GDP for the fourth quarter of 2020 will be a catalyst that can potentially move the market this week. Domestically, the lack of economic data release means JCI’s movement is tend to consolidate. However, investors will look forward to the result of the supervisory board selection for the Sovereign Wealth Fund.
Economic Recovery Sentiment Encourages Interest in Risk Assets
The price of Government Securities (SUN) has been relatively under pressure for a week, amid expectations of economic recovery due to vaccinations.
