Indonesian Market Recap
JCI rallied on Wednesday, 05/09, amid investors expectancy of BI’s stance of tightening interest rate. Top Gainers : Finance (+3.64%), Consumer (+3.39%), Mining (+2.17%).
Today’s Outlook: The U.S. Inflation Lowers than Estimate
Today, we estimate JCI to rally with the support range of 5735-5742 and resistance range of 6015-6025. The positive sentiment comes from the release of the U.S. inflation of April standing at 0.2% or lower than the estimated
inflation of 0.3%. This backdrop resulted in the correction to USD with a view to buffering depreciation against rupiah. Besides, the conflict in Iran sends the global cured prices higher.
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