Investors anticipate Big Banks Earning Results next Friday, as some analysts have lowered their projections on 3Q22 performance, companies that are involved in S&P500, only grow +4,1% YoY (Vs. Prev. Est. +11,1% YoY). Earlier in the week, Nasdaq fell 1% which led to a decrease on Wall Street after the US will tighten product exports regarding Semiconductor Chips or products used for military to China. As for DXY which comes to rise near the All-Time High level with 114 points, ahead of the US CPI Headline release on Sept. which is projected to remain high above the 8% of YoY level. This Wall Street stock market pressure happens amid the US bond market holiday commemorating Columbus Day.

Public optimism decreased, occurring among all expenditure categories. Indonesia’s Consumer Confidence Index on Sept. decreased to the level of 117,2 points (Vs. Aug. 124,7 points), within that period, the inflation rate increased significantly, and the annual CPI Headline was close to 6%, with monthly exceeding 1%. Earlier in the week, the IDX Composite closed below the psychological level of 7.000 or fell 32 points with Energy and Industrial leading the sectoral decline. Amid the lack of economic sentiment today, NHKSI Research predicts IDX Composite will consolidately move, with the Support on: 970- 6.930 / 6.840-6.850 and Resistance: 7.000 / 7.050 / 7.140 / 7.200-7.225.

Download full report HERE.