Wall Street closed mixed last week (21/5), marked by a strengthening in Dow Jones. The release of solid economic data again triggered a rotation from the technology sector to cyclical and defensive stocks. US Manufacturing PMI figures up to mid-May were recorded to have risen to 61.5; which is a new high.

Over the past week, JCI declined by 2.78%, although this was accompanied by an increase in daily transaction value. The focus of investors will be on the Board of Governors Meeting (RDG) of Bank Indonesia, where the Central Bank is projected to maintain its benchmark interest rate. Entering the new week, JCI will try to rebound with a range of movement at 5,737 – 5,853.

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