PBS026 Closes Last Sukuk Auction
The need for short-term funds, and the yield rate for the 4-year sukuk, PBS026, which is below 5%, has made the government aggressive in winning this series in the auction.
Daily Report | Consolidation after Election Holiday
Domestically, some sentiments will influence the market today, such as: news on the delay of cigarette excise tax, covid-19 vaccine development, and window dressing effect. After the election holiday, JCI is expected to consolidate in 5911-5980.
Mixed SUN Market Responds to Stagnant Foreign Reserve
Bank Indonesia (BI) reported foreign exchange reserves as of November 2020 worth USD 133.6 billion, or relatively stagnant from the previous month’s USD 133.7 billion.
Daily Report | Boosted by Vaccine Sentiment
JCI is still continuing its bullish momentum after news of the arrival of the Covid-19 vaccine from Sinovac. Today, JCI is projected trying to get closer to the psychological level of 6,000 with a range of movement at 5853-5980.
Strengthening Weekend Ahead of Sukuk Auction
Most of the SUN recorded a drop in yields, with FR0087 at 6.10% or lower than the current 10-year benchmark FR0082 at 6.17% level
Daily Report | New Dow Jones and S&P 500 Records
Over the past week, the JCI was still able to increase by 0.5% even though it opened to a fall at the beginning of the week. Meanwhile, several economic data releases such as Foreign Exchange Reserves, Consumer Confidence Index and Retail Sales will influence the movement of the stock market this week. For today, JCI is expected to move in the range 5,775-5,853.
Weekly Report | November 2020 Forex Reserves Data Release
JCI’s movement was influenced by domestic sentiments such as the release of Purchasing Managers’ Index (PMI) data and Inflation that recorded an increase. Meanwhile, JCI successfully closed in the green in the past week.
Profit Taking Action Anticipation of Foreign Exchange Reserves Data
Investors are starting to pay close attention to the release of domestic economic data next week, such as: November foreign exchange reserves, consumer surveys and retail sales.
Daily Report | New Daily Case Records
The JCI seems to be getting saturated after posting gains for 3 consecutive days. Market participants received bad news from the daily Covid-19 case number which again set a new high. JCI movement has the potential to decline today on a range of 5,735-5,870.
