Indonesian Market Recap
JCI closed lower yesterday due to the deficit in trade balance. Top Losers: Infrastructure (-2.66%), Mining (-1.37%), Misc Industries (-1.37%).
Today’s Outlook: Global Pressure Still Lingers
Today we estimate JCI to lower with the support range of 6280-6288 and resistance range of 6347-6357. The fear of trade war between China and AS still lurks and the strengthening dollar will put pressure on JCI. From domestic outlook, the release of trade balance data signifies the improving deficit in February’s trade balance. It occurs due to the higher growth in February’s export than January’s export, while the growth in import aligns with the estimate.
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