Indonesia Market Recap

JCI ended higher yesterday. Investors responded to the release of March’s surplus trade balance. Top Gainers : Consumer (+0.97%), Miscellaneous Industries (-0.91%), Infrastructure (-0.32%).

Today’s Outlook: China’s GDP Growth

Today we estimate JCI to rally with the support range of 6241-6250 and resistance range of 6332-6345. The main sentiment derives from the release of China’s 1Q18 GDP growth in this morning. It is estimated that 1Q18 China economic growth is likely stable at 6.8%. The conducive global sentiment enables investors to eye the domestic sentiment, particularly the release of BI’s survey of 1Q18 banking industry.

Download full report HERE.