Today’s Outlook:
• Wall Street stock markets closed slightly lower on Monday (27/11/23) in muted trade as investors were reluctant to position ahead of key economic data due later this week.
• Oil prices also fell, with the Brent settling under $80 a barrel, as investors awaited this week’s OPEC+ meeting and expected curbs on supplies into 2024.
• The U.S. dollar slid against most major currencies, weighed down by expectations that the Federal Reserve is done cutting interest rates and could start cutting them by the first half of next year.
• In precious metals, gold hit a six-month high with a boost from the softer dollar and expectations of a pause in the Fed’s monetary policy.
• Meanwhile, the latest economic data showed that Building Permits were slightly above expectations, while New Home Sales aka new family home sales in the US fell more than expected in October, likely as higher mortgage rates reduced affordability, but the housing segment remains supported by a shortage of previously owned properties on the market.
• Investors were also looking ahead to Thursday’s release of the Fed’s preferred measure of inflation or PCE index and euro zone consumer inflation figures, to potentially give markets direction.
• From Europe, European Central Bank President Christine Lagarde said the European Central Bank’s fight to contain price growth was not yet done as wage growth was still strong and the outlook was uncertain, but she did point to easing euro zone inflation pressure.
• In U.S. Treasuries, benchmark 10-year notes fell steadily during the day and were last down 9.9 basis points to 4.385%, from 4.484% late on Friday.
• ASIA MARKETS: Indonesia recorded money supply growth of 3.4% YoY in Oct, compared to 6% in the previous month. Japan will soon announce Bank Of Japan Core CPI which is expected to stabilize at 3.4% YoY.
• The JCI’s nervous behavior at the 7000s level is seen as an attempt to find strong motivation to continue the ongoing bullish trend. Market players should indeed focus on the myriad of economic data that will emerge this week as it can give an idea of where the market is heading in the near future. Therefore NHKSI RESEARCH advises investors/traders to conduct a gradual buying strategy when JCI has successfully neutralized the Shooting Star candle which indicates a potential bearish reversal. It is also important to pay attention to the Resistance area of each stock in your portfolio and average up if a break out occurs.

Company News
• WIKA : Designing Rights Issue for IDR6 T PMN
• HILL : Net Profit Up 27.3% As of 3Q23
• TAPG : Project 2023 Performance to Fall

Domestic & Global News
• IDR 400,000 El Nino BLT Disbursement in December
• China’s Industrial Profits Rise Three Months in a Row, a Sign of a Stabilized Economy?

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