JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today supported by capital inflow. The gains may be limited as some players are likely to await for the release of economic data, including April consumer price index (CPI).

The stock market closed on Monday (May 1) for public holiday.

Last Friday, the Jakarta Composite Index (JCI) closed lower 21 points or down 0.38 percent at 5,685 points after hovering within range of 5,684-5,724 points. Foreign investors were net buy of Rp422.59 billion, while the total market transaction reached Rp12.6 trillion.

Eight of ten sectoral indices weakened, led by consumer sector index (down 1.21 percent) and mining stocks which fell by 1.13 percent.

As many as 123 stocks increase, 204 declined and 101 stocks were unchanged.

William Surya Wijaya, head of research of Asjaya Indosurya Securities sees the JCI to move within support level of 5,643 and resistance level of 5,758 points today. It expects the capital inflow will continue to support the market. In addition, some economic data will come out that may provide some support to the market.

“Today, the JCI still has a good chance to strengthen,” he said.

The Asian market on Monday closed mixed, with Nikkei225 ended down 0.29 percent, Kospi in south Korea fell 0.18 percent, while Hang Seng in Hong Kong rose 0.08 percent

Today’s menu, according to Indosurya:

– ASRI

– ICBP

– PWON

– PGAS

– JSMR

– UNVR

– HMSP

– INDF

– BBCA

(*)

LEAVE A REPLY

Please enter your comment!
Please enter your name here