Indonesian Market Recap
JCI reined in the bullish mood yesterday amid investors’ confidence amid the upbeat rupiah. Top Gainers : Basic Industry (+2.12%), Trade (+1.00%), Property (+0.90%).
Today’s Outlook: Subdued Jitters of the Fed
We estimate JCI to rally with the support range of 6572-6582 and resistance range of 6640-6650. Jitters of hawkish note addressed by Janet Yellen did not come into reality. In her last speech, Yellen supported to the hike in interest rate. However, her stance corresponded to the recent economic data. From domestic outlook, the inflation data is subject to observation considering the steep hike of inflation data in December 2017.
Download full report HERE.