JCI Gave up Slight Declines
In few early days of last week, JCI pointed lower after a 3-day winning streak. Foreign inflows of IDR296 billion on 2019’s final trading day and unchanged non-subsidized electricity tariffs from January to March 2020 failed to set JCI free from the red zone trap. Although such sentiments are likely to counter soft consumption and boost consumers and retail stocks. On the first trading day of 2020, JCI continued to give up gains even though global positive sentiments persisted. Whereas JCI remained unmovable by Trump’s good gesture of signing the USChina trade pact on January 15, Asia markets rejoiced the news as Asia stocks rallied. Besides, another positive global sentiment of People’s Bank of China’s easing monetary stance and the positive domestic sentiment of Dec’s inflation of 0.34% m-m and the 2019’s inflation of 2.72% y-y were incapable of rescuing JCI from the red zone. On Friday of Jan. 3, 2019, JCI finally paced and reigned in the green zone.
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