The US stock market continued to gain moderately on closing (22/07), supported by the rise in the technology sector. US Treasury yields fell again after weekly jobless claims were reported to have risen above expectations. A total of 419,000 new claims were filed last week; exceeding the economists’ consensus estimate of 350 thousand.
After experiencing a long consolidation phase, the JCI managed to break through the strong resistance level at 6,130. The increase occurred in 10 of the 11 sectors supported by foreign investors’ buying actions which reached IDR 807 billion. Towards the end of the week, the benchmark index will try to maintain its range of movement higher at 6,000 – 6,226.
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