JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today driven by ongoing capital inflow as well as stable economic growth. As revealed by the Central Bureau of Statistic (BPS), Indonesia recorded GDP growth of 5.01 percent in the first quarter 2017.
On Friday, the Jakarta Composite Index closed up 13.93 percent or up 0.25 percent at 5,683 points, after hovering between 5,659-5,696 points.
The transaction value reached Rp8.58 trillion, with foreign investors were in net buy position of R712.88 billion. Seven of ten sectoral indices rose, with three ended in negative territory. As many as 141 stocks rose, 174 declined and 117 stocks were unchanged.
Most Asian stocks ended in negative territory last Friday, with Nikkei225 in Japan rose 0.7 percent, BSE 30 in India fell 0.83 percent, and Hang Seng lost ground of 0.84 percent.
William Surya Wijaya, head of research of PT Asjaya Indosurya Securities projected the JCi to move within support level of 5,623 and resistance level of 5,718 points today.
He said the JCI is still in the upward trend supported by a number of factors including capital inflow and solid fundamental economy as reflected in under controlled inflation data as well as steady economic growth in the first quarter. “As for today, JCI still has a good chance to strengthen,” he said.
Today’s menu, according to Indosurya: