Indonesian Market Recap
JCI lowered on yesterday’s trading triggered by the concerns on the hike in the U.S. Treasury yield. Top Losers : Consumer (-2.37%), Finance (-1.79%), Mining (-1.69%).
Today’s Outlook : The U.S. Treasury Yield
Today we estimate JCI to be sluggish further with the support range of 6166-6198 and resistance range of 6298-6348. The global negative sentiment comes from the rosier growth of the U.S. economy spurring the hike of 3% in the U.S. Treasury bond yield. It caused the jitters of the Fed’s hawkish monetary policy stance. Besides, the concerns about the hike in oil prices followed by the heightened geopolitical issue in the Middle East. From the domestic outlook, the further rupiah depreciation still drives investors.
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