Indonesian Market Recap
JCI closed lower yesterday amid the sluggish movement of Asia markets after China targeted 2018 economic growth of 6.5%. Top Losers: Basic Industry (-1.35%), Finance (-0.71%), Agri (-0.70%).
Today’s Outlook: Trump’s Negotiation
We estimate JCI to strengthen with the support range of 6527-6531 and resistance range of 6575-6583. The positive sentiment comes from the global investors’ subdued jitters toward the U.S. trade war. Trump stated that the U.S. will be primed to negotiate if the fair trade agreement in the northern part of the U.S. prevails. From domestic, investors need to digest the release of consumers’ confidence index of February to be released by Bank Indonesia.
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