Indonesian Market Recap
JCI closed flat yesterday amid the rally in the maining sector, resilient Rupiah and the change of LQ45 index composition. Top Losers : Consumer (-1.03%), Agri (-0.83%), Finance (-0.54%).
Today’s Outlook: Trump’s Statement
We estimate JCI to rally with the support range of 6572-6577 and resistance range of 6635-6641 by today. Trump’s statement standing in a striking contrast to Mnuchin’s constitutes as a negative statement. Trump stated that dollar will remain strong. From domestic outlook, negative sentiment looms as the upswing in crude prices. The Minister of Energy and Mineral states to evaluate subsidized petroleum in the end of March.
Download full report HERE.
