JCI Snapped Lower
JCI ended two-day trading sessions with declines as the US Treasury Department Minister Steven Mnuchin reasoned “phase 2” trade deal to unlikely mean removal of all tariffs on Chinese goods. In the domestic backdrop, agriculture stocks declined as India, the world’s largest CPO importer, curbing demand for CPO left CPO prices downbeat, and that was a hiccup for JCI’s big steps. JCI was rebound on Thursday’s trading session after BI held BI 7-DRRR unchanged. BI’s monetary stance is a mid-term strategy to support growth momentum and keep economic stability maintained since 2019 in check. Asia markets, as did JCI, also rallied after declines caused by investors’ jitters of coronavirus outbreaks in Wuhan impeded economic activities in China. On Friday, JCI closed lower triggered by profit taking.
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