Indonesian Market Recap
JCI was bearish yesterday amid the rupiah depreciated by 0.24% against USD. Top Losers: Misc. Industry (-1.97%), Mining (-1.34%), Basic Industry (-1.16%).
Today’s Outlook: Investors Eye on 2Q18’s GDP
We estimate JCI to rally with the support range of 5987-5994 and resistance range of 6081-6099 today. Investors likely eye on the release of 2Q18’s GDP growth to be published on Monday, 08/06/18. Based on Bank Indonesia’s estimate, the GDP growth likely reaches 5.2%-5.3%, higher than the 1Q18’s growth of 5.06%. The GDP growth is driven by the growth of 5% in consumption and the growth of 6%-7% in investment.
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