The US stock market continued its downward trend at the closing (19/01), with all three major indexes falling around 1%. Selling pressure on technology sector stocks continued, although the increase in US Treasury yields was seen stalling. Meanwhile, the release of below-expected banking performance also added to sentiment for the movement.
From the domestic market, the JCI weakened for the third day in a row; with a correction of 0.33% yesterday to the level of 6,591. Bank Indonesia is scheduled to release the results of the Board of Governors Meeting (RDG) this afternoon, where market participants will be closely watching the direction of monetary policy going forward. Technically, the benchmark index is still likely to be under pressure with a projected range of movement at 6,500-6,650.
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