Indonesian Market Recap
JCI closed on a high note, led by the hike in almost all sectors. Top Gainers: Basic Ind. (+1.23%), Property (+0.64%), Finance (+0.55%).
Today’s Outlook: Expansive Fiscal Policy
Today we estimate JCI to rally with the support range 5890-5910 and resistance range 5990-6000. The positive sentiment comes from China’s stock market. The China government will implement an expansive fiscal policy to support the economy growth along with China’s lagging economic growth. On the other hand, Bank Indonesia (BI)’s stance of holding benchmark rate unchanged likely causes rupiah to get impact of domino effect.
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