Wall Street gained in trading (22/09); with the three major indexes each going up around 1%. The Federal Reserve has signaled that tapering will start soon until the middle of next year. Meanwhile, credit concerns from China eased slightly; after Evergrande reportedly reached an agreement with creditors regarding interest payments.
Domestically, JCI was able to score a rebound; supported by foreign net purchases of IDR 495 billion. The movement of the stock market will be influenced by the response of market participants to the direction of the Federal Reserve’s monetary policy. For today, there is the potential for profit taking with a projected range of JCI movement at the level of 6,000-6,150.
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