Wall Street rebounded on the closing (21/07); in line with the positive performance of most companies. More than 80% of companies that have released their 2nd quarter Financial Report managed to beat market expectations. The energy sector led the market gains with a 3.5% increase as crude oil prices rebounded.
From the domestic market, the JCI was able to rebound after the announcement of the government’s plan to loosen the Emergency PPKM regulations. Investors will pay close attention to the results of the Bank Indonesia board of Governors’ Meeting (RDG) which will be announced today. Technically, the JCI has the potential to experience a correction in the range of 5,950 – 6,130.
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