Indonesian Market Recap
JCI was reign in 5-day winning streak. Investors eyed the Asia’s conducive market amid the lurking greenback. Top Gainers: Infrastructure (+1.45%), Property (+0.96%), Misc. Industries (+0.78%).
Today’s Outlook: Expectancy of The U.S. and China Negotiation
We estimate that today JCI is reign in rally mood with the support range of 5873-5878 and resistance range of 5959-5954. The current global market backdrop is recovering as the expectancy of another negotiation between the U.S. and China emerges. The negotiation is expected to cushion the ever-escalating trade war. From domestic outlook, the positive sentiment comes from the beefing up of net buy by foreign investors. Such backdrop is underpinned by the positive expectancy of 2Q18 earnings release to be started in next week.
Download full report HERE.