Wall Street experienced a significant gain over the past week; with the S&P 500 again setting new records on closing (25/06). The market received the release of inflation data which was in line with expectations as well as the announcement of new infrastructure program plans. From the financial sector, the Fed announced that dividend restrictions on large banks will expire on June 30, 2021.

Amid a surge in positive cases of Covid-19, the JCI was still able to rise 0.25% last week. Foreign investors made net purchases of more than IDR 2 trillion in the Cash and Negotiated market; although at the same time it also recorded a net sell of IDR 703 billion in the regular market. Starting the new week, JCI is projected to continue to consolidate in the range of 6,000 – 6,130.

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