US stock markets continued their decline on (16/06); after the release of the Federal Reserve meeting results. Although interest rates was maintained; the US Federal Reserve raised its forecast for 2023 to 0.6%. Fed chief Jerome Powell also gave no indication of when he would start reducing the debt-buying program.
Meanwhile, JCI still moved sideways in the midst of foreign net sell action of IDR 453 billion that occurred yesterday. Investors seem cautious in responding to the Fed meeting; and will observe the results of today’s Bank Indonesia RDG meeting. Technically, JCI movement is expected to remain limited to the range of 6,049 – 6,134.
Download full report HERE.