JCI Rallied
On early days of last week, investors retained wait-and-see stance to anticipate the ministers lineup of 2019-2024 Indonesia Maju Cabinet announced on Wednesday (10/23). Meanwhile, markets optimism about the signing of first phase deals between the US and China in November was a boost for JCI’s moves to the green zone so that JCI rallies as did most of Asia markets. On mid-days of last week, JCI continued to rally after President Jokowi announced and inaugurated ministers of Indonesia Maju Cabinet. Investors positively responded to Indonesia Maju Cabinet as SOEs stocks in banking and construction sectors rallied on Thursday (10/24). Besides, BI decided to cut BI 7-DRRR by 25 bps to 5% after Board of Governors meeting. On Friday (10/25), JCI closed lower to end its 10-day winning streak.
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