Indonesian Market Recap
JCI closed at a high note as investors eyed the 2Q18’s corporate earnings. Top Gainers: Mining (+1.88%), Infrastructure (+1.53%), Agri. (+1.31%).
Today’s Outlook: BI’s Meeting
We estimate JCI to rally with the support range of 5842-5860 and resistance range of 5941-5957. Bank Indonesia (BI) today announces its benchmark rate. After it held the massive hike in prior-month benchmark rates; now it likely leaves its benchmark rate unchanged. It is seen from the stable rupiah and inflow of USD374.5 billion in July’s bonds market.
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