Indonesian Market Recap
JCI moved lower yesterday. Investors responded to varied negative global sentiments when IDX was off during long holidays. Top Losers : Finance (-3.54%), Property (-2.96%), Consumer (-2.38%)
Today’s Outlook: : Comprehends Rupiah Movement
Today we estimate that JCI is still moving modestly with the support range of 5813-5831 and resistance range of 5904-5908. Investors likely digest the rupiah movement starting its trading today after the long holidays. On today’s initial trading day, rupiah is depreciated higher than 14,000 per dollar. Global markets showing no recovery after the jitters of the U.S. and China trade war is factor suppressing Indonesia’s market. However, a number of domestic indicators sign the improvement in consumption mainly in Eid Mubarak festive.
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