The JCI declined by 1% last week although foreign investors recorded a net buy. The government’s decision to extend PPKM tends to weigh on the market’s sentiment, while investors are still waiting for the start of the financial report release season. For today, JCI is expected to move in the range 6,200-6,450.
PT Jasa Marga Tbk (JSMR) plans to prepare Subsidiary divestment to the Sovereign Wealth Fund.
The Government Securities (SUN) market closed mixed after Joe Biden officially became President of the United States (US).
Profit taking and the effect of Joe Biden which began to subside caused the JCI to experience a slight decline. Most of the investors have anticipated BI’s decision to hold the benchmark interest rate. Today, JCI is expected to move in the range of 6,386 – 6,504.
The US Government under Joe Biden plans to develop Sustainable or Green energy, the opposite of their predecessor.
Optimism in the new US administration has also had a positive impact on the JCI rate. This can be seen from the actions of foreign investors who still booked net buy in large cap stocks. Today, investors will be watching the release of the Bank Indonesia Board of Governors Meeting results with a projection of JCI movement in the range 6,382-6,472.
Additional auction (green shoe option) Government Bonds (SUN) series FR0086, FR0087, FR0088, FR0083, and FR0089, successfully recorded incoming bids worth a total of IDR 16.5 trillion.
FR0087 posted IDR 16.9 trillion worth of interest, surpassing FR0083’s 20-year long tenor of only IDR 11.2 trillion, at auction of Government Securities (SUN) last Tuesday.
JCI declined following continued profit taking on stocks that had experienced significant increases. This indication can be seen from the biggest decrease recorded by the cyclical sector such as mining and property. Technically, today JCI is expected to move in the range of 6,288 – 6,472
