All three major US indexes ended last week (03/12) in the red; led by the Nasdaq with a 1.92% correction. November’s non-farm payrolls data was reported at 212K, far missing the consensus projection of 550K. Market participants will digest the impact of this data on the Federal Reserve’s plans to accelerate its tapering policy.
From the domestic market, the JCI also closed down 0.69%; with foreign investors booked a net sell of Rp 545 billion. The development surrounding the Omicron variant of the Covid-19; which has been detected in the Southeast Asia region; is still a scourge for stock market movements. Entering the new week, the JCI still potentially be under pressure with projected range between 6,480-6,600.
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