Indonesian Market Recap
JCI moved higher, yet it ended flat amid the subdued trade war. Top Gainers: Mining (+1.00%), Agri. (+0.97%), Consumer (+0.89%).
Today’s Outlook: Prioritize Exports
We estimate JCI to close higher with the support range 5900-5920 and resistance range of 5985-6000. President Joko Widodo revealed that Indonesia currently is loomed by the current account deficit and trade balance deficit caused by the whittling away expansion of business and investment. He called for the head officers of districts and provinces to implement an easy access to the investment regulations, especially business oriented on export. Such action is expected to strengthen Indonesia’s fundamental.
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