Indonesian Market Recap
JCI lowered on Friday, 03/23 following the decline in global markets got impact of the U.S. import tariff on China’s products. Top Losers: Consumer (-1.10%), Miscellaneous Industries (-1.08%), Property (-0.91%).
Today’s Outlook: Digests the Impact of the U.S.-China Trade War
We estimate JCI to move lower with the support range of 6152-6166 and resistance range of 6236-6247. The major sentiment in the global markets still relates to the trade war between the U.S. and China. Meanwhile, it is estimated that markets will still be bearish. Investors are still digesting the impact of trade war on Indonesia, particularly its impact on the deficit in Indonesia’s trade balance.
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