All three major US indexes rose at the closing (08/02), supported by a rebound in the technology sector and buy in banking stocks. The yield on the 10-year US bond rose again to almost touch the 2% level; which is a positive sentiment for the financial sector. The survey on US inflation data to be released this week estimates that the price index level will remain above 7%.
From the domestic market, the JCI declined by 0.23% from the highest closing level on the previous day. Foreign investors are still seen continuing to buy stocks of large banks with a total net buy of IDR 1.53 trillion. Technically, the benchmark index is expected to enter the consolidation stage in a fairly wide range of 6,700-6,850.
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