Asian stocks were pressured on Monday as investors wary about the unease surrounding US tax reforms.
This market vigilance did not significantly affect the Composite Stock Price Index which rose 0.03% and closed at 6053,282. Although uncertainty over US tax reforms and political risks in Europe could erode risk appetites and weaken global stocks, the JCI could be helped by improved sentiment towards Indonesia. Indonesia's economic growth is estimated to grow 5.1% in 2017 and 5.3% in 2018 so that the general outlook for Indonesia remains promising and can increase investor risk appetite.
Related to forex outlook, Rupiah remained resilient to face US Dollar on Monday. USDIDR is trading towards 13515 at the time of writing. Because the Dollar is pressured by the US tax reform situation, the technical trader will monitor if the price can move towards 13550.
Focus on central bank officials
