Indonesia Market Recap

JCI rally on Friday, 07/28 after booking net sell within 17-consecutive day, foreign investors booked net buy of IDR40.6 billion. Top Gainers : Mining (+1,68%), Property (+1,2%), Infrastructure (+1,1%).

Today’s Outlook: Awaiting Domestic Economic Data

We estimate JCI to rally with the support range of 5791-5795 and resistance range of 5864-5871 by today. From global, investors need to oversee the issuance of China’s manufacture data of July in order to digest the effect of policy tightening on China’s economy. From domestic, investors await inflation data of July to be released by tomorrow. The estimated July inflation will be lower than June inflation due to the post-Eid Mubarak effect. Besides, investors also await 2Q17 economic growth data to be issued by this week.

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