Indonesia Market Recap

JCI closed lower yesterday. Investors awaited the impacts of the trade war between the U.S. and China. Top Losers : Consumer (-0.83%), Agri (-0.53%), Infrastructure (-0.27%).

Today‚Äôs Outlook: Counts on Newly Elected BI’s Governor

We estimate that today JCI rallies with the support range 6195-6202 and resistance range 6272-6274. From the global outlook, the negative sentiment deriving from the trade war between the U.S and China still persists, yet it has no significant impacts on markets, evidenced by the rally in the U.S. markets. From domestic outlook, the positive sentiment comes from the newly elected Bank Indonesia (BI) Governor Perry Warjiyo pledging policies supporting a rosier economic growth.

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