Indonesian Market Recap
JCI continued to lower last Friday amid global concern about trade war between China and the U.S., and estimated inflation of 4.2% by Fitch. Top Losers: Infrastructure (-1.87%), Agri (-1.68%), Trade (-0.75%).
Today’s Outlook: Central Bank’s Week
Today we estimate JCI to move lower with the support range of 6251-6255 and resistance range of 6322-6329. In the early of this week, the global investors will await FOMC meeting to be held from Tuesday to Wednesday’s night. The event is estimated to cause investors take wait-and-see act. From domestic outlook, BI Board of Governor Meeting to be conducted by this week needs to be digested. BI is estimated to be confidence amid the trend of the Fed’s rate hike.
Download full report HERE.