Indonesian Market Recap
JCI soared to its updated higest level as big cap’s shares posted foreign investors net buy. Top Gainers: Basic Industry (+2.99%), Property (+2.50%), Finance (+1.81%).
Today’s Outlook: Return of Foreign Net Buy
We estimate JCI to rally with the support range of 6655-6667 and resistance range of 6725-6730 today. Today, the market conditions is estimated to likely better off along with no globally negative sentiment as the U.S. markets were off last night. From domestic outlook, the return of foreign net buy position mainly in big cap’s shares showed the recovery in investors’ confidence. This backdrop allows investors to focus on domestic issues particularly the release of financial performance.
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