Majority of the global stock markets closed lower in trading (08/07), in line with concerns about the increase in Covid-19 cases in various countries. Indications of a slowdown can be seen from the release of US weekly jobless claims data which rose to 373 thousand. The US 10-year Treasury yields continued their decline below 1.3%.
From the domestic market, investors’ wait and see attitude still caused the JCI to tend to move mixed. The strengthening of commodity prices and the government’s plan to add PMN to several SOEs are expected to offset the sentiment of rising daily positive cases. Towards the end of the week, JCI is expected to remain mixed in the range of 5,950 – 6,130.
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