Indonesian Market Recap
JCI was bearish on Thursday’s trading after the massive net sell from foreign investors. Top Losers: Infrastructure (-1.78%), Finance (-1.65%), Mining (-1.58%).
Today’s Outlook: Expectancy of Trump and Xi Negotiation
We estimate JCI to rally with the support range of 5738-5748 and resistance range of 5815-5823. The positive sentiment comes from the subdued tension of the U.S. and China trade war after the news of trade negotiation between Trump and Xi Jinping in November. In August, China and the U.S.’ authorities are scheduled to held a trade negotiation. From domestic outlook, investors will respond to the 2019’s state budget draft focusing on the human resource development.
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