Major US stock markets booked another decline on Friday (11/03) led by technology shares, with the Nasdaq down 2.18%. In addition to concerns about the conflict between Russia and Ukraine which has given a negative sentiment, market players have also begun to pay close attention to the Fed meeting this week. Meanwhile, the University of Michigan reported its March US consumer confidence index to fall to 59.7, the lowest level since September 2011.
Domestically, the JCI closed slightly lower by 0.02% to 6,922.60 over the weekend; marked by declines in 5 of 11 sectors. This week, investors are looking forward to the release of Trade Balance data which is projected to return to a surplus, and the BI 7DRRR which is projected to be maintained at 3.50%. In trading at the beginning of the week, the JCI will try to stay in the range of 6,900 – 7,000.
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