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Indonesia Market Recap JCI closed slightly lower on last Friday. Investors awaited the release of forex data amid the sluggish global market. Top Losers: Infrastructure (-0.35%), Agri (-0.19%), Trade (-0.17%). |
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Today’s Outlook: Retail Sales Data Today we estimate JCI to rally with the support rage of 6141-6148 and resistance range of 6212-6216. The positive sentiment in domestic market came from the release of February’s retail sales data. January’s retail sales data declined by 1.8% y-y. Bank Indonesia previously estimated the retail sales will rebound as of February and make further rallies to Eid Mubarak holiday. From global outlook, the release of falling U.S. jobs data gave insight that the Fed likely leave its monetary pace normal. |
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