Indonesian Market Recap
JCI rallied yesterday due to investors’ continuous confidence to the mining sector. Top Gainers : Mining (+0.93%), Finance (+0.66%), Property (+0.37%).
Today’s Outlook: Ahead of Release of Trade Balance Data
We estimate JCI to rally with the support range of 6344-6351 and resistance range of 6425-6430 by today. Ahead of the to-be-released-on-next-Monday data of December’s trade balance, it is projected that investors will target export based shares. This backdrop is attributable to the expectancy of upbeat surplus of December’s trade balance spurred by export activity. From the global outlook, ECB monetary expansionary is projected to suppress Rupiah pace range.
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