US and Europe countries’ regional markets are still closed due to the Christmas holiday. In await for important US economic data: Pending Home Sales (MoM) (Nov), Initial Jobless Claims, and Crude Oil Inventories that will be announced this Wednesday and Thursday, the US extreme weather becomes a worldwide concern as it has inflicted 25 fatalities in New York (of at least a total of 55 deaths recorded across the US since last Christmas weekend). December’s inflation expectations in South Korea are expected to fall to their lowest point over the past seven months, hoping the Bank of Korea to end tight monetary policy first.
The market, that still lacks domestic and foreign sentiments, relies on technical analysis indicators. It managed to close higher beyond Resistance yesterday, even though foreign posted a Net Sell of IDR204.85 billion (RG market). NHKSI Research expects the shortterm Bullish can continue to focus on breaking through the MA20/6855 Resistance and will manage to hit the TARGET of 6960-7000.
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