JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade flat today, with the main index is likely to move within tight range as market players are awaiting for new leads to enter the market, analysts say.
Bahana Securities said technically the JCI is in bearish mode. It expects the JCI to weaken, moving within range of 5,320 support level of 5,360 resistance level. Stocks that could attract market players are ACES, SMRA, WSKT, BMRI, SMBR.
Binaartha Sekuritas analyst Muhammad Nafan Aji Gusta Utama said the fluctuation of Indonesian market today is likely to be still affected by a statement made by senior official of The Fed, who presented US economic prospect. President of Fed for Cleveland Loretta Mester said in Singapore that the plan to raise interest rate remains unchanged should US economy is maintained.
In Asia, most South East market gained, with SET Thailand added 0.29%, FTSE Malaysia KLCI rose 0.03%, FTSE Straits Time Singapore added 0.88% and PSEi Philippines rose 0.30%.
On Wednesday, the Jakarta Composite Index (JCI) ended lower b 0.34% to 5,340.99 from previous close (+0,89% mtd; +0,84% ytd). The sell-off in mining and automotive stocks drove down the JCI.
As many as 120 stocks increased, 213 declined, 100 stocks were unchanged and 145 were untraded.
The rupiah was traded at Rp13,347 to the US dollar, gained 0.17% from previous day.
Five large cap stocks that move the market on Wednesday:
CPIN (-6.41%)
ICBP (-1.49%)
BMRI (-1.11%)
HMSP (-1.04%)
GGRM (-0.58%)
Top five stocks that were sold by foreign investors in regular market: .
ASII (Rp182.2 B)
TLKM (Rp55.3 B)
GGRM (Rp37.2 B)
PTPP (Rp34.3 B)
PGAS (Rp20.1 B)
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