Daily Report | Fed Plans to Buy Corporate Bonds
A surplus Balance of Payment Data was unable to hold the JCI as investors chose to realize profits.
Economy Indicators in Q2/2020 Face Tough Scenarios
Most economy indicators are expected to be sluggish in Q2/2020 and the trend can continue into 3rd quarter.
Weekly Report | CPO Prices Expected to Strengthen
Investors can consider agriculture stocks which currently being helped by a regulation to prioritize domestic consumption and the potential rise in CPO price. NHKSI recommends AALI as a stock pick with an end of year target price of IDR 10.000 based on P/E trailing band of 35,9x
Daily Report | The Fed’s Pessimistic Tone
The transition of PSBB in Jakarta will continue today with the reopenings of shopping centres around the capital.
Daily Report | US Market Tumbles as Fears of Second Wave
Major US Indices fell down significantly. The Dow Jones, S&P 500 and Nasdaq all closed more than 5% lower as investors turn back focus on the increasing numbers of cases in several states. For domestic market, this global sentiment along with the also increasing number of positive cases as number of tests also jumps, will deter the movement of JCI.
Fed Plans to Keep Interest Rate unchanged during Recovery Years
The Federal Reserve kept the policy rate unchanged with unanimous vote, while also maintaining the current rate of bond purchasing program.
Daily Report | Fed Sees Unchanged Rates until 2022
US Indices closed on the mix with DJI and S&P 500 fell lower while Nasdaq closed higher. The Fed has decided to keep the benchmark rate unchanged at 0%-0.25% while also signaled that this rate and the bond buying commitment will continue up to 2022. This sentiment from the Fed will also be the main influence for JCI’s movement today.
Economy Reopening Expected to Re-hire Workers
The reopening of 9 sectors is expected to absorb 70 percent of workers.
Daily Report | Profit Taking Hampers Market
Dow Jones closed lower after several days of gain after The Fed started its 2-day monthly meeting. From domestic market, the JCI’s recent rally was slowed down by profit taking from investors. A follow up of this profit taking action has the potential to shadow today’s movement.
