Wall Street continued its downward trend in trading (06/01); with the Dow Jones experiencing the biggest decline with 0.47%. Although still overshadowed by the acceleration of interest rate hikes, market players’ concerns seem to have eased; supported by the financial and energy sectors. On the other hand, a survey of economists projected that there were 400 thousand new jobs created last December.
Domestically, yesterday the JCI closed with a slight decrease of 0.13%; in the midst of foreign net buys worth IDR 641 billion. Today, Bank Indonesia is scheduled to release data on foreign exchange reserves for December 2021; where the last position was recorded at the level of USD 145.9 billion. Technically, JCI has the opportunity to rebound with a projected range of movement at 6,600-6,750.
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