Indonesian Market Recap
JCI closed flat yesterday after it moved mixed amid the escalating global commodities prices. Top Losers : Basic Industry (-0.76%), Property (-0.31%), Agriculture (-0.25%).
Today’s Outlook: Report from China
We estimate JCI to lower with the support range of 6314-6320 and resistance range of 6397-6403 by today. The global negative sentiment comes from the China’s official recommending to reduce or halt the purchase of the U.S. bonds. Considering China as the biggest buyer of the U.S. bonds, the potency of downward liquidity has escalated jitters of global financial market.
Download full report HERE.