Indonesian Market Recap
JCI closed higher yesterday amid consistent mining sector yet pressure in trade balance data. Top Gainers : Mining (+1.53%), Finance (+0.67%), Property (+0.61%).
Today’s Outlook: Commitment in Maintaining Inflation
We estimate JCI to rally with the support range of 6344-6351 and resistance range of 6412-6418 by today. The positive sentiment stems from varied attempts shown by the government in maintaining inflation. Another to importing rice, the government also plans to import sugar. This is a mutual coordination inter-institutions with a view to minimizing the supply problem. The stable inflation is a requirement of consistent monetary policy by Bank Indonesia.
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