Wall Street ended higher earlier in the week amid investors’ focus on October inflation data, which will be released on Thursday local time. US inflation Headline Oct. YoY is projected at 7.9% (Vs. Sept. 8.2%), likely to determine the market’s direction for the rest of 2022. Some economists argue that if inflation is not below 8% YoY, the Fed may prepare for the fifth hike of FFR +75Bps in December. Investors are starting to pay close attention to whether the Fes will close 2022 with an FFR of 4.5% or more. This monetary policy will bring an impact on the economy in 2023. Additionally, the Dow appreciated by 1% or led Wall Street’s gains.
The majority of IPOs offer a lower limit price or the lowest price of the offered range. At the beginning of the week, JCI was closed above the psychological level of 7,100. As for Basic Materials and Infrastructure, each strengthened by 1% or led the sectoral strengthening. IHSG appreciation after the Statistics Indonesia recorded Indonesia’s economy in 3Q22 grew 5.72% or exceeded market expectations by 5.60% YoY. According to e-ipo.co.id, four of six prospective issuers will list their shares on the IDX today, offering a lower limit price. Amid several sentiments, NHKSI Research projects JCI today to move bullish.
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