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Indonesia Market Recap JCI soared yesterday. Investors awaited the release of February’s retail sales data estimated to grow. Top Gainers : Miscellaneous Industries (+2.49%), Agriculture (+2.38%), Infrastructure (+1.90%). |
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Today’s Outlook: Petroleum Policy by Indonesian Government We estimate JCI to rally with the support range of 6212-6216 and resistance range of 6306-6316. The positive sentiment derives from the mandatory regulation of authority approval prior to increasing the prices of non-subsidized petroleum by the retailers. The regulation is estimated to hold inflation stable. From global, investors will keep their eyes on the speech on market reformation delivered by Xi Jinping. |
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