The major indices on Wall Street closed lower on the first trading day of the year after experiencing volatile movements. The indices initially strengthened but continued the correction seen at the end of last year into the start of this year’s trading. The decline was partly driven by concerns over high stock valuations and anticipation of new government policies. Meanwhile, the yield on U.S. Treasury bonds fluctuated, briefly rising to 4.6% for the 10-year tenor. The increase in bond yields made bonds an attractive alternative investment, especially for investors wary of the relatively expensive stock market valuations. Gold prices strengthened amid rising demand for safe-haven assets, while crude oil prices also rose, supported by optimism surrounding increased demand from China.

On Thursday, January 2, 2025, the JCI closed 1.18% higher at 7,163. The basic materials sector recorded the largest gains, while the consumer non-cyclical sector saw the most significant declines. Foreign investors posted a net buy of IDR 560.89 billion, including in non-regular markets. For today’s trading, the JCI is expected to move within a support range of 7,120/7,080 and a resistance range of 7,190/7,230. Stock Picks: BBCA, BBNI, BBTN, BRIS, BMRI, BBRI, BRPT, CPIN, TPIA, AMMN, AKRA.

This report is prepared strictly for private circulation only to clients of PT Waterfront Sekuritas Indonesia. It is purposed only to person having professional experience in matters relating to investments. The information contained in this report has been taken from sources which we deem reliable. No warranty (express or implied) is made to the accuracy or completeness of the information. All opinions and estimates included in this report constitute our judgments as of this date, without regards to its fairness, and are subject to change without notice. However, none of PT Waterfront Sekuritas Indonesia and/or its affiliated companies and/or their respective employees and/or agents makes any representation or warranty (express or implied) or accepts any responsibility or liability as to, or in relation to, the accuracy or completeness of the information and opinions contained in this report or as to any information contained in this report or any other such information or opinions remaining unchanged after the issue thereof. We expressly disclaim any responsibility or liability (express or implied), its affiliated companies and their respective employees and agents whatsoever and howsoever arising (including, without limitation for any claims, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a results of acting in reliance upon the whole or any part of the contents of this report and neither PT Waterfront Sekuritas Indonesia, its affiliated companies or their respective employees or agents accepts liability for any errors, omissions or misstatements, negligent or otherwise, in the report and any liability in respect of the report or any inaccuracy therein or omission there from which might otherwise arise is hereby expresses disclaimed. This document is not an offer to sell or a solicitation to buy any securities. This firms and its affiliates and their officers and employees may have a position, make markets, act as principal or engage in transaction in securities or related investments of any company mentioned herein, may perform services for or solicit business from any company mentioned herein, and may have acted upon or used any of the recommendations herein before they have been provided to you. © PT Waterfront Sekuritas Indonesia 2025