Indonesian Market Recap
JCI closed lower yesterday. Investors tended to wait and see ahead of the Fed’s meeting by this last weekend. Top Losers: Miscellaneous Industries (-2.11%), Basic Industry (-0.60%), Consumer (-0.57%).
Today’s Outlook: Performance Release & AGM
Today we estimate JCI to move lower with the support range of 6234-6236 and resistance range of 6315-6322. Amid the global markets jitters of AS-China trade war ahead of FOMC’s meeting, the new negative sentiment comes from the tumble of Facebook’s stock due to the user data leakage. From domestic outlook, investors should focus on the company’s performance release and AGM schedule of state-owned banks.
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