Indonesia Market Recap

JCI rallied yesterday as the release of macroeconomic data highlighted the maintainable inflation. Top Gainers : Miscellaneous Industries (+2.86%), Consumer (+1.56%), Infrastructure (+1.40%).

Today’s Outlook: Fights Against Globally Negative Sentiments

We estimated JCI to slightly lower with the support range of 6189-6197 and resistance range of 6260-6267. Of note, the release of inflation gave a positive sentiment for JCI. March’s core inflation rebounded into 2.67% after a 4-monthback- to-back decline. However, today it faced headwind of sluggish global markets underlined by China’s import tariffs on the U.S.’s products.

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