The US stock market booked another record high on (03/11), led by Nasdaq which rose 1.04%. As expected, the Federal Reserve announced the start of tapering that will continue until the middle of 2022. Meanwhile, the yield on the 10-year US Treasury rose again, moving past 1.6% in response to this decision.
Domestically, JCI managed to rebound by 0.91%; supported by strengthening in 9 of 11 sectoral indexes. Investors will tend to be cautious in responding to the announcement of the start of tapering; and anticipate the release of Indonesia’s GDP data for the third quarter of 2021 tomorrow. Technically, JCI has the potential to consolidate within the range of movement of 6,480-6,574.
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