Wall Street closed last week (09/07) with new record highs on the main indexes. The rally was led by the financial sector; after US Treasury yields began to stabilize after dropping below 1.3%. Investors will also await the release of quarterly performance from major banks scheduled for this week.
Over the past week, JCI was still able to gain 0.3%; amid the foreign net sell actions that amounted to IDR 537 billion. Market participants will pay close attention to developments in the handling of the Covid-19 pandemic as we enter the 2nd week of Emergency PPKM implementation. Although it tends to move flat, today the JCI still has the opportunity to limitedly strengthen in the range of 5,985 – 6,130.
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