Wall Street closed lower in trading (30/03/2021), with three major markets in the red zone. A rise in the 10-year Treasury yield to 1.7% again put pressure on large-cap technology stocks. Meanwhile, the US consumer confidence index rose sharply to 109.7, in line with rising optimism following the adoption of the USD 1.9 trillion stimulus aid package.
Domestically, the decline of JCI at yesterday’s closing was an anomaly amid the rally of the majority of regional exchanges. Correction occurred in line with the
weakening of the Rupiah exchange rate to penetrate the level of IDR 14,500/USD. Today, JCI will try to rebound with projected range of movement at 6,046 – 6,160.
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