JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today, extending yesterday’s gains, on positive economic data, including steady economic growth in the first quarter and higher foreign exchange reserves, as well as ongoing capital inflow, analysts say.
On Monday, the JCI closed up 24.485 points or up 0.43 percent at 5,707.862. The LQ45 rose 3.001 points or up 0.32 percent at 948.968.
As many as 8.9 billion stocks changed hands valued at Rp9.1 trillion. The IDX data showed 180 stocks rose, 147 declined and 104 stocks were unchanged. The trading volume was partly boosted by huge transaction of BCA shares in the negotiated market worth Rp1.4 trillion.
Analyst with Asjaya Indosurya William Surya Wijaya projected the Jakarta Composite Index (JCI) to hover within support level of 5,623 points and 5,775 points today.
He said technically the JCI still shows potential upsides than downsides. There could be some corrections along the way, but this could be used by investors to accumulate the stocks. He noted the JCI could still hit new record high in the short-term.
“As for today, the JCI still has the potentiality to go up,” he said in an investor note.
Stocks to watch today, according to Indosurya: