Indonesian Market Recap
JCI closed higher yesterday after moving mixed. Investors oversaw the strengthening of Rupiah against Dollar. Top Gainers : Basic Industry (+2.20%), Infrastructure (+1.03%), Mining (+0.69%).
Today’s Outlook: Release of China’s GDP
We estimate JCI to rally with the support range of 6412-6420 and resistance range of 6476-6480 by today. To have the insight of the consistency in global economic recovery, investors need to oversee the release of China’s economic growth data to be released this afternoon. From domestic outlook, the Board of Governors of Bank Indonesia Meeting will decide to maintain reference interest rate. The trend of current strengthening IDR supports the consistency in accommodative monetary policy.
Download full report HERE.