JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade higher today as market sentiment is boosted by appreciation of rupiah to the US dollar and good progress of the government’s Tax Amnesty program.
On Tuesday (Sept. 27), the Jakarta Composite Index (JCI) closed up 67 points or up 1.26 percent to 5,419.60, with transaction value reacing Rp6.2 trillion. The market’s rise was led by miscellaneous, automotive and mining sectoral indices. Only agriculture stocks index that declined.
As many as 159 stocks rose, 137 declined and 103 were unchanged. Leading the rise were including UNTR, INDF, BBCA, CPIN and
ASII, with foreign investors were recorded net sell, amounting to Rp45.8 billion. Foreign investors were seen offloading BMRI, LPKR,
TLKM, BBCA, and WSBP, Bahana Securities said in its investors’ note.
Bahana Securities said today (Sept. 28), the JCI is projected to move mixed with a tendency to go up. Technically, the JCI is likely to move within support level of 5,400 and resistance level of 5,450. Among stocks to watch are TLKM, WSBP, BBNI, UNTR, and ASII.
On Tuesday, the Rupiah surged to below Rp13,000 to the US dollar. At the market close, the rupiah was traded at Rp12.955 to the US dollar and may continue strengthening today, driven by capital inflow. (*)