Indonesian Market Recap
JCI closed lower on Friday’s trading session amid the weak rupiah exchange against dollar. Top Losers: Misc. Industri (-1.36%), Consumer (-1.27%), Basic Ind. (-0.40%).
Today’s Outlook: Rupiah Depreciates
We estimate JCI to lower with the support range of 6290-6295 and resistance range of 6380-6385. The global negative sentiment comes from the hike in the U.S. treasury yield closed at 2.96% on Friday, 04/20. Besides, the IMF warning about the current global financial will escalate investors’ concerns. From the domestic outlook, the negative sentiment comes from the weakening of rupiah exchange rate against dollar. On Friday trading, rupiah exchange rate was at IDR13,893 per USD.
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