Wall Street continued declining on closing (10/11); led by Nasdaq that fell 1.66%. The release of US CPI data showed an inflation rate of 0.9% in October or 6.2%
yoy. A fairly rapid rise in inflation has raised expectations that the Federal Reserve will accelerate interest rate hikes in 2022.
Domestically, JCI continued the rally by 0.2%; although it closed still slightly below the all-time high level. The strengthening was supported by foreign investors’ net buy amounting to IDR 286 billion. For today, the movement of the benchmark index is expected to be in the range of 6,650 – 6,750.
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