Market Recap
JCI noted on a high note on last Friday’s trading session amid rupiah appreciation. Investors also oversaw the subdued tension arising from the global trade war. Top Gainers: Infrastructure (+2.19%), Misc. Industry (+2.07%), Trade (+1.39%).

Global markets rallied on Friday, 09/14/18, as the technology, particularly semiconductor, was the top performing sector. Investors oversaw President Trump plan to impose new additional tariff on Chinese goods.

Today’s Outlook: Re-Arising Global Tension
Today we estimate JCI to be sluggish with the support range of 5890-5905 and the resistance range of 5955-5966. From the global outlook, the negative sentiment comes from the U.S. new tariffs of USD200 billion on Chines goods to be imposed as early as this week. The new tariffs re-heighten trade war tension between the U.S. and China and cause Asia’s markets to be sluggish this morning. Another to the re-escalating trade war tension, the yields of U.S. government’s bonds hiked into 3% show the lingering uncertainty of the pace of the U.S. benchmark hikes.

From the domestic outlook, investors keep their wary eyes on August’s trade balance to be published at noon. After July’s deficit of USD2 billion, August’s trade balance is estimated to post a slightly lower deficit.

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