Indonesian Market Recap
JCI closed lower yesterday amid the bomb attack on Sunday and Monday. Top Losers : Infrastructure (-1.77%), Agriculture (-1.61%), Property (0.55%).
Today’s Outlook: : Trade Balance of April
Today, we estimate JCI to lower with the support range of 5894-5909 and resistance range of 5970-5975. The global sentiment comes from the subdued jitters of the U.S. and China after Trump pledged to reprieve China’s ZTE from sanctions prohibiting U.S. companies from selling components to the company. On the other side, investors needed to digest the release of the April’s trade balance today. On the cycle basis, imports are estimated to hike ahead of Ramadhan days. The surplus in March is estimated to lower in April.
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