The S&P 500 fell 0.3% on the weekend, as banking stocks were down, after the economic recovery in the United States (US) face the Fed’s aggressive monetary policy. Investors are also repositioning their portfolios, looking at technology stocks that rely on low interest rates, sending the Nasdaq index down of 1.3%. As for the US bond market outflows, the yield on the US Treasury series UST10Y touched the level of 2.73%.
The increase in the energy and basic materials sectors supported the Jakarta Composite Index (JCI) which rose 1.2% to 7,210 this weekend. On a weekly basis, JCI rose 1.9% or strengthened in four weeks. Market participants expect an increase in commodity prices, helping to boost the performance of issuers in the sector. In addition to stock trading which will only last for four days, investors will pay close attention to US inflation data in March, which is projected to rise again.
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