Market Recap
JCI closed lower amid BI’s stance to leave its benchmark rates unchanged. JCI is constrained by the further net foreign sell. Top Losers: Basic Industry (-1.31%), Finance (-1.12%), Infrastructure (-0.81%).

The Fed’s less dovish stance, in contrast to investors’ expectancy constrained global markets. Asia markets closed lower as People’s Bank of China left its benchmark rates unchanged. European markets were also constrained by the basic industry sector due to the sanctions eradicated on Rusal. Meanwhile, the U.S. markets closed lower along with the jitters of the government shutdown.

Today’s Outlook: Further Decline in Global Index
We estimate JCI to pace modest with the support range of 6050-6060 and the resistance range of 6180-6190. The negative sentiment derives from the index Dow Jones diving to 1.9% after the U.S. Defense Secretary Mattis officially leaving his position, sparked by the dispute with Trump over policies.

Nikkei index opened sluggish by 0.4%, following the bearish mood of the U.S. markets.

Global crude prices tumbled to 4.75% due to the budget allocated on the U.S. border. Additionally, the cut output by OPEC and the U.S. are estimated to prove futile to boost the prices of crude.

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