Indonesian Market Recap
JCI closed lower on yesterday’s trading triggered by rupiah depreciation. Top Losers : Consumer (-0.85%), Misc-Industri (-0.73%), Finance (-0.69%).
Today’s Outlook: Still Focuses on Rupiah
Today we estimate JCI to lower further with the support range of 6276-6292 and resistance range of 6351-6392. From domestic outlook, the pressure comes from the rupiah depreciation at IDR13.975 per USD triggered by the better U.S. economy and the Fed’s hawkish stance spurring the hike in the U.S bond yield.
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