Market Recap
JCI rallied on Friday as the bank sector led. The rally was amid the net foreign sell transaction of IDR1.2 trillion. Top Gainers: Infrastructure (+2.06%), Finance (+1.69%), Misc. Industry (+1.63%).

Amid investors’ concerns on the trend of hiking interest rates and the lagging global economic growth, the U.S. and Asia markets closed higher on Friday, 10/12/18. On the other side, European markets closed slightly lower along with political disputes among European Union, Italy, and the U.K.

Today’s Outlook: September’s Trade Balance
We estimate that today JCI will rally with the support range of 5716-5722 and resistance range of 5759-5807. Today investors will keep their wary eyes on September’s trade balance. Indonesia posted August’ trade balance deficit of USD1.0 billion. In September, investors estimated that the deficit narrowed to USD444 million. The expectancy is on the basis of the higher export growth than August’s export growth.

On the other side, September’s import growth likely remained high. Meanwhile, the challenge comes from Asia’s market closing lower today. It is triggered by the China’s authority statement that China has many instruments and rooms to adapt to trade war.

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