Market Recap
JCI closed slightly lower on Friday’s trading as the tech sector suppressed. Foreign investors also booked the net foreign sell of IDR256 billion. Top Losers: Consumer (-0.72%), Finance (-0.51%), Trade (-0.49%).

The global markets closed mixed on Friday, 10/19/2018, along with the release 3Q18’s seasonal earnings. Global investors kept their wary eyes on the trend of the Fed’s monetary tightening, the U.S. and Saudi Arabia geopolitical issue, Brexit, the Italian budget, and China’s shrinking GDP in 3Q18.

Today’s Outlook: Awaiting BI’s Meeting
We estimate that today JCI moves at sluggish pace with the support range of 5787-5797 and resistance range of 5862-5868. The pressure comes from Asia market movement this morning. Nikkei is sluggish at 1%, triggered by investors’ fears of China’s economic deceleration.

On the other hand, investors await Bank Indonesia (BI) Board of Governors Meeting to be conducted on Monday and Tuesday. After experiencing depreciation in the early of October due to the hike in global crude prices, the rupiah is currently stable at 15,200. Being aware of the fact, investors expect that BI will not raise its rates as it did in September.

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