Indonesian Market Recap

JCI closed higher as investors are optimistic toward the process of the U.S. tax reformation.  Top Gainers : Mining (+1.97%), Consumer (+1.22%), Trade (+0.86%).

Today’s Outlook: 2018 Tax Policy Discussion

We estimate JCI to move lower with the support range of 6075-6095 and resistance range of 6195-6200 by today. The positive sentiment comes from the press conference and visit to Chile and Argentina to be conducted by Enggartiasto Lukita, the Minister of Trade. Besides, the Tax Policy Directorate, Robert Pakpahan and Chief of Trade Chamber, Rosan Roeslani will discuss about the tax policy for 2018 in Jakarta. It will anticipate the impact of shift in the U.S. tax policy to Indonesia.

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