Indonesian Market Recap
JCI ended flat yesterday amid the rupiah appreciated. Bank Indonesia projected the 2018’s current account deficit to reach USD25 billion. Top Gainers: Misc. (+2.67%), Mining (+1.44%), Trade (+1.19%).
Today’s Outlook: Sharia-Based Economic as National Strategy
We estimate JCI to move higher with the support range of 5900-5915 and resistance range of 5980-6000. Bank Indonesia (BI) offers 5 strategies of Sharia-based economic development so that Indonesia can compete with other countries. According to BI Governor Perry Warjiyo, the Sharia-based economic shall be set as a national program. The development of Sharia-based economic required the concerted endorsement from the Indonesian government and BI is confidence that Joko Widodo can give the needed support.
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