Issuers’ performance releases pushed Wall Street to close mixed. The Dow Jones closed up 0.71%, while the S&P 500 was down 0.06% and the Nasdaq was down 1.22%. The United States bond market strengthened, after the International Monetary Fund (IMF) cut its global growth projections for 2022 and 2023, making investors more selective in their interest in safe haven instruments. The 10-year US Treasury yield closed down by more than 10 bps, from previously touching a high of 2.98%. The IMF’s projections are caused by the conflict between Russia and Ukraine which has yet to show signs of resolution.

JCI went up 0.4% to 7,227, supported by gains in the infrastructure (+2.77%) and financial (+2.03%) sectors. Meanwhile, foreign investors recorded a net buy of IDR 832 billion, with top buys including BBRI and BBNI shares. Currently, investors are looking forward to the release of the 1Q22 performance of a number of banking and consumer issuers, and the dividend pay-out sentiment. Today, NHKSI Research projects the JCI to move upward in the range of 7,150-7,300.

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