Indonesian Market Recap
JCI closed lower yesterday because investors still kept their eyes cautiously on the impact of the trade war between the U.S. and China. Top Losers: Infrastructure (-0.60%), Consumer (-0.55%), Miscellaneous Industries (-0.54%).
Today’s Outlook: Subdued Trade War Tension
Today we estimate JCI to rally with the support range of 6168-6175 and resistance range of 6271-6278. The positive sentiment derives from the subdued trade war tension between the U.S. and China, for China offers to buy more US semiconductor to cut trade surplus. This backdrop boosts global investors’ confidence, and creates a positive global sentiment, and therefore investors focus on the domestic sentiment relating to the schedule of big caps share dividend distribution.
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