Indonesian Market Recap
JCI moved lower yesterday. Foreign investors prefered to post net sell amid the least appetite for the global shares market. Top Losers: Miscellaneous Industries (-2.10%), Finance (-1.39%), Mining (-1.33%).
Today’s Outlook: Headwind of Least Appetite for Investment
Today we estimate JCI to move lower with the support range of 6099-6109 and resistance range of 6178-6189. In the last trading day of this week, it estimated that JCI will face headwind of investors’ least appetite, particularly the foreign investors. From global, the consistent decline in the U.S. government bond yield signified the global investors’ preference for more secure investment. From domestic outlook, investors still await changing in economic policies by BI Deputy Governor elect.
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