Global equity markets traded mixed on Monday: Asian markets weakened by 0.3% (137.9), while EU and U.S. ones went up by 0.3% (387.3) and 0.4% (17,545.2). Risk appetite in Asian markets were suppressed by profit-taking in Hong Kong markets (fell by 0.9% to 10,962) amidst concern about weaker China growth outlook, as well as weakening yuan, while China Securities Finance Corp will reportedly reduce the scale of market intervention. Meanwhile, EU bourses finished higher on Monday, as investors kept an eye on oil prices and watched for progress on a third bailout program for Greece. Across the ocean, U.S. markets gained, following the release of positive homebuilder data (The National Association of Home Builders index for Aug15 rose 1 point to 61, its highest level since Nov05). Moving to our domestic scene, the Indonesian stock market was closed on Monday, in accordance with the national holiday celebrating Indonesia’s independence. Thus, having considered all above sentiments, today we project the JCI to trade within 4,560-4,600.
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