US Derivatives Market Strengthens. Despite Wall Street’s Memorial Day holiday, US derivatives markets remain open, with the S&P 500 Mini up 0.3% and the Nasdaq
100 Future up 0.8%. Investors see the Fed’s monetary policy could be more relaxed, after the discourse of increasing the FFR by 50 bps in June and July respectively.
Meanwhile, European stock markets closed higher, supported by positive sentiment on the relaxation of the “Zero Covid” strategy in China, especially in Shanghai and
Beijing. Previously, investors were worried that the implementation of this strategy would have a negative impact on China’s economic recovery.

Closing May, JCI Heading to 7,100? JCI once again closed above the psychological level of 7,000 yesterday. It had been depressed to a level of 6,974 in the first trading
session, but finally closed up 11 points to a level of 7,037. Nine of the eleven sectors rose, with transportation & logistics up nearly 4%. JCI movement yesterday was amid the appreciation of the rupiah by 0.13% to the level of IDR 14,558/USD. Ahead of the holiday and closing of May, NHKSI Research projects that the JCI will move upward in the range of 6,950-7,200.

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