US stock markets closed in the red at the end of last week (08/10); with all three major indexes declining simultaneously. The release of employment data showed that the number of new jobs throughout September was only recorded at 194 thousand, far below the estimates. Meanwhile, the yield on the 10-year US Treasury rose again past the 1.6% level.
Over the past week, the JCI posted a sharp gain of 4.06%; supported by foreign net buys of IDR 10.67 trillion. The increase in commodity prices, improvement in economic data, as well as the controlled conditions of the Covid-19 pandemic are expected to continue to support the performance of the domestic stock market in the remainder of 2021. For today, the JCI has the opportunity to continue strengthening in a range of 6,450-6,550.
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