JCI’s Last-Week Rally
Massive positive sentiments flooded Indonesian equity markets. In last week’s early days, China’s bright exports reading of 14.2% in March (vs. estimated-reading of 7.3%) was the positive
catalyst, driving JCI up by 0.24%; Indonesian trade balance surpluses of USD540 million added to the bolster, strengthening JCI. Based on Indonesian trade balance reading, March’s
exports edged up 11.71% compared to February’s exports.
Another positive catalyst for JCI was the optimism about trade deals between the U.S and Japan to settle trade disputes, a peaceful negotiation avoiding the possible II trade war; accordingly, JCI, on Tuesday, April 16th, JCI nudged up 0.03%. Foreign outflows were at USD559 billion in response to 2019’s presidential election, held in Wednesday, April 17th.
Foreign investors retained wait-and-see while awaiting the election outcome. In last week’s last day, JCI strengthened slightly at 0.40% as the outcome of quick count fitted well foreign
investors’ estimate: Jokowi to succeed its presidential administration until 2024.
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