JAKARTA (TheInsiderStories) - Composite tock price index (JCI) in trading on Friday (25/11) still under pressure with the range of movement 5,065-5,175, Reliance Securities analyst Lanjar Nafi said. While, analysts sees today Rupiah will be consolidated with a tendency to weaken and move in the range of Rp 13,400 to Rp 13,650 against US dollar.
JCI closed significantly corrected. The index fell -104,37poin (-2%) to 5107 after moving between 5102-5194 A total of 82 stocks rose, 216 stocks declined, 84 stocks did not move, and 185 shares not traded.
The investors transact Rp8,52 trillion, consisting of regular transactions Rp5,44 trillion, trillion Rp3,07 negotiations, and cash Rp10,28 billion. On the regular market, foreign investors posted a net purchase transactions Rp55,49 billion. As many as nine out of a total of 10 sectors fell, led by various industry sectors which fell -2.85% and -2.59% down infrastructure.
From Asia, the majority of stock indices were mixed. South Korea’s Kospi Index fell -0.84%, and the Hang Seng in Hong Kong fell -0.30%, while Nikkei225 in Japan has appreciated + 0.94%. Majority of stock indices in Europe has strengthened since it opened this afternoon. DAX in Germany rose + 0.14%, and the CAC in France rose + 0.15%, while the FTSE100 in the UK fell -0.16%.
In the foreign exchange market, the exchange rate On Thursday, in the foreign exchange market corrected -69poin (-0.51%) to Rp13.558 per US dollar, after moving in the range Rp13.508-Rp13.586. Sentiment The Fed still haunt the exchange plus concerns over the political stability of Indonesia also adds to the burden of the stock until the end of the year.
Analysts Lautandhana Securindo Krishna Setiawan, said after the victory of Donald Trump is the current market conditions are difficult to predict. Related to the policy direction that you want highlighted by a new Republican administration, create uncertainty in the market.
Krishna saw the potential Trump will release its aggressive policy when he took office later. Start by cutting taxes, boost spending, and again increase the return of fossil energy such as coal in order to increase manpower.
The effect of Krishna sees the potential progressive increase in inflation in the United States. So this year he predicts the Fed will raise interest rates at 14 December.
In addition, from within the country, according to Krishna shares of PT Bank Mandiri Tbk (BMRI) became one of the stock index fell due. BMRI stock plummeted 7.3 percent yesterday.
He considered that this decrease occurs because the plan BMRI who want to increase the reserves of problem loans to Rp 22 trillion. While in the fourth quarter is predicted NPL large state-owned banks is still above 4%.
Research Analyst Treasury PT Bank Negara Indonesia Tbk Nurdiyanto adding, the pressure of global factors, especially from the United States, is still dominant. Pressure rose for November 2016 FOMC minutes reinforce indications the Fed’s interest rate hike in December.
Plus, according to the Futures Research and Analyst Garuda Sri Wahyudi, from within the country no economic data which could be a force for the rupiah to survive. In fact, speculation demonstrations continued to haunt the domestic market.
Pressure on the rupiah was great considering the needs of the US dollar in the country ahead of the higher end of the month. Nurdiyanto also predict the rate may continue to weaken.
This gap can be used to fix the position of the rupiah, although the opportunity to reverse the situation is still very small. But at least there is little hope of the rupiah could strengthen to the top level of Rp 13,500 per US dollar.
Nurdiyanto predict today rupiah will move in the range of Rp 13,500-Rp 13,600 per US dollar. While Wahyudi analyze the rupiah will move between Rp 13,400 to Rp 13,650 per US dollar.