Indonesia Market Recap

JCI rallied yesterday. Stated-owned miners soared after the announcement of higher dividend value. Top Gainers : Misc. Industry (+1.7%), Property (+1.5%), Trade (+1.3%).

Today’s Outlook: The U.S. Missile Threat

We estimate JCI to be bearish with the support range of 6315-6320 and resistance range of 6388-6398. Trump’s tweet of firing missiles at Syria is major negative sentiment. The attack is response to Russia’s support of Assad. This turmoil is estimated to heighten the geopolitical tension between the U.S.– Russia. In light of this backdrop, it is suggested that investors focus on mining sector.

Download full report HERE.