Monthly Market Summary Jun 2024

Headline inflation cooled from 2.8% in May 2024 to 2.5% in June 2024. Core inflation moderated to 1.90% yoy from 1.93% yoy in the previous month. Indonesia manufacturing PMI continue to moderated to 50.7 in Jun-24. Indonesia’s state budget deficit for first half of 2024 stood at Rp 77.3tn as of end-June, with trade surplus fell to USD 2.4 billion in Jun-24. In Jun-24, IndoGB move higher and shifted to bear flattened with 10yr bond yield raise by 13bps to 7.07%, while GIDU 10Yr yield curve continued bull flattened with 10yr bond yield fell by 4bps to 5.26%. Market rebounded due to end-of-quarter window dressing. The JCI and MXID bounced by 1.3% and 3.1%, respectively. Sector-wise, the JCI drivers aligned with fundamentals. Healthcare which offers one of the strongest earnings growths led the market, while Technology sector which continued to disappoint dragged the market. Watch the Monthly Market Summary June 2024 for further details.