The three major US markets closed higher at the end of last week (07/05). The market responded positively to April payroll data, which was far below projected, in line with easing expectations of inflation and rising interest rates. This is also good news for the tech sector, which is able to rebound after experiencing pressure in recent times.
Over the past week, JCI was corrected by 1.12%; accompanied by a foreign net buy of IDR 1.03 trillion. With only 2 trading days and the lack of new positive catalysts, this week the market movement is expected to be limited with a tendency to weaken. Technically, the projection for JCI is at 5,900 – 6,000.
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