Indonesian Market Recap
JCI continued to dive on Friday, 05/04. Investors’ interests were still sluggish amid the awaiting of the release of GDP growth data. Top Losers : Finance (-2.20%), Agriculture (-1.66%), Mining (-1.45%).
Today’s Outlook: : GDP Growth
We estimate JCI to rally with the support range of 5749-5756 and resistance range of 5839-5849. The main sentiment of JCI’s today movement stems from the release of 1Q18 GDP growth to be release today. The estimated consensus of 5.18% likely maintains the trend of GDP growth acceleration. Besides, the April’s consumer confidence index (CCI) gaining for the first time in 4 months shows Ramadhan’s impacts on hiking consumers spending.
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