Indonesian Market Recap
JCI closed lower last Thursday. Investors chose to secure their position ahead long holiday on last Friday. Top Losers : Infrastructure (-1.27%). Misc Industries (-1.07%), Trade (-0.98%).
Today’s Outlook: : Pressure from the U.S. Labor
For today we estimate JCI to move lower with support range of 5926 and resistance range of 6012-6023. Pressure comes from global after the release of the U.S. labor data. Unemployment rate hit the position of 3.8%, the lowest in last 18 years. This condition triggers global markets’ concern that the Fed should raise the pace of monetary tightening. From domestic, the release of May’s inflation will be the main focus for investor. Historically, Ramadhan season gives pressure to the Indonesian inflation.
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