US market closed higher in trading (07/22/2020), supported by investor action to hunt for shares that were deemed defensive. This shift towards the defensive sector responds to the emergence of new tensions on US-China relations, after the US government ordered the closure of the Chinese consulate in Houston.
Domestically, JCI still tends to move flat in line with the lack of new sentiment from within the country. Investors will await the release of GDP data and financial statements of issuers in the Q2 / 2020 period. Indonesia’s economic growth in the second quarter / 2020 is expected to experience a fairly deep contraction.
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