Indonesian Market Recap
JCI rallied yesterday as the mining sector led. The foreign investors started to post net buy position. Top Gainers: Mining (+2.43%), Finance (+1.43%), Basic Industry (+1.30%).
Today’s Outlook: The U.S. Inflation
Today we estimate JCI to rally with the support range of 6446-6459 and resistance range of 6555-6563. From the global outlook, the global market focus on the U.S. February’s inflation to be released tonight. The release of January’s inflation caused volatility in global market, but it is estimated that the release of February’s inflation will cause no volatility in global market. The release of lagging wages growth, the February’s inflation is estimated to be lower that the January’s inflation.
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