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Indonesian Market Recap JCI closed higher yesterday as Fitch upgraded Indonesia’s rating from BBB- into BBB. Top Gainers : Consumers (+1.99%), Trade (+1.28%), Infra (+1.13 %). |
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Today’s Outlook: BI Is Optimistic That Indonesia’s Rating Will Keep Hiking We estimate JCI to rally slightly with the support range 6120-6130 and resistance range 6200-6220. The positive sentiment comes from Bank Indonesia which is optimistic that Indonesia’s credit rating will keep improving backed by a better Indonesia’s macro economy fundamental position and bureaucracy reformation. |
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