Today’s Outlook:

• All three major US stock indexes recorded their 4th consecutive weekly gain. S&P 500, Dow Jones Industrial Average closed at record levels on Friday on the back of
Meta’s strong earnings report fueling bullishness in big Tech stocks, even as a stronger-than-expected Nonfarm Payroll confounded the Federal Reserve’s rate cut prospects.
• The US economy recorded more public sector job additions than expected in January, with Nonfarm Payrolls in the world’s largest economy increasing by 353,000 last month, far more than the 187,000 jobs expected. Wage Growth which was also much stronger, is a threat to increase Inflation, confounding the prospects of a rate cut with some economists now suggesting that the inaugural pivot could be delayed. On the one hand, the economic indicators clearly state that the US economy remains strong and therefore far from recession.
• ASIA MARKETS: A slew of economic data colored the Asia Pacific region on Monday, after a week of investors digesting the US employment report and the latest negative sentiment in China. Today’s economic calendar will be enlivened by Purchasing Managers Index figures from China and Japan, as well as Indonesia’s GDP. Economists are divided on whether the bullish aura of the US stock market will be able to infect Asian financial markets, as the IMF last week warned that China’s economy could slow to 3.5% by 2028, amid China’s current 6-month consecutive stock market slump.
• INDONESIA economic growth expectation in 4Q/2023 stands at 5.0% yoy, supported by domestic consumption, although quarterly growth is predicted to be only 0.4% qoq. JCI recorded a 1.3% gain last week on the back of IDR 1.96 trillion foreign spending, adding up to IDR 4.72 trillion Foreign Net Buy YTD. JCI seems to have attempted to improve its position by climbing back above its third Moving Average Support thereby securing an up-swing towards its next Target of 7280-7300. NHKSI RESEARCH suggests gradual Buy especially on stocks that have proven strong in breaking its Resistance. 

Company News
• BRIS: Preparing IDR1.5 T
• GGRM: Adding More Capital for Dhoho Kediri Airport
• PJAA: 2023 Net Profit Surges 64.2%

Domestic & Global News
• BI Reveals Causes of Inflation Sloping to 2.57% in January 2024
• US Intends Further Strikes on Iran-Backed Groups, National Security Adviser Says

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