During Eid-Al Fitr holiday in Indonesia (April 8-15), global indices retreated where S&P was -2.7%, MSCI Asia ex-Japan was -1.5%, and MSCI Europe was -0.5% due to combination of persistent US inflation and heightened geopolitical conflict in the Middle East. This build-up in selling pressure brought JCI to weaken more than 2% during market open in April 16th, 2024, first day trading post week-long Eid Al Fitr holiday, in-line with historical data that shows JCI usually declined post long holiday.

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