Indonesian Market Recap
JCI pared loss yesterday amid the bearish global markets. Top Losers : Basic Industry (-3.16%), Agri (-2.86%), Mining (-2.48%).
Today’s Outlook: IMF& Moody’s Statements
We estimate JCI to rally with the support range of 6430-6437 and resistance range 6545-6553. From global outlook, rebound in the U.S. markets has impact of hiking on Asia markets. Meanwhile, from domestic outlook, sentiment positive derives from IMF and Moody’s statements giving the positive outlooks on the recent macroeconomic conditions in Indonesia.
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