Global market rallied by last week. It was triggered primarily by the testimony of Fed’s Chair Janet Yellen addressing dovish testimony in relation to the prospect of hike in the U.S. interest rate.
China’s stable economic growth is positive catalyst for global market movement. This stable growth relieves jitters on potency of lagging global market growth due to China’s debt having high risk.
- China’s 2Q17 Economic Growth of 6.9%
- Sluggish Dollar Due to Yellen’s Comment and Inflation
Indonesia Market Highlights
JCI moved at a slight rally by last week amid high net sales conducted by investors. Early week pressure due to paring down IDR can be offset by IDR rebound in the week end, particularly after global sentiment.
For this week, we estimate JCI to move flat and global sentiment to cause foreign investors halting massive purchase. On the other side, China’s robust economic data causes commodities sector to provide positive potency.
- Bank Indonesia’s Board of Governors Meeting
- 2Q17 Economic Growth Rate Exceeding 5%
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