Wall Street continued to close in the green zone (09/02), with all three major indexes strengthening simultaneously. The upward rally of the 10-year US bond yields has begun to stall ahead of the release of inflation data; a positive sentiment for technology stocks. Investors’ optimism is also seen to increase, supported by the release of strong company performance reports and easing of geopolitical tensions in Ukraine.
JCI was able to set a new closing record with an increase of 0.66% to 6,834; supported by the net buying action of foreign investors which reached IDR 1.4 trillion. Bank Indonesia is scheduled to release the results of the Board of Governors’ Meeting (RDG) today, where market participants will await the direction of monetary policy. Technically, JCI will try to maintain a higher range of movement at 6,800-6,900.
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