JAKARTA (TheInsiderStories) - Indonesian shares are expected to be flat with potential to go up today as investors are likely to be cautious in the first day trading after long Idul Fitri break.
Gains in Wall Street over the past few days, however, may prompt some investors to make selective buying that could drive the shares later in the day, analysts say.
On Friday, July 1, the last trading day before break, the Jakarta Composite Index closed down 45.066 points or down 0.90 percent to 4,971.581, while LQ 45 closed down 10.197 points or down 1.18 percent at 850.520.
William Surya Wijaya, head of research of PT Asjaya Indosurya Securities, said technilcally the JCI is projected to trade within range support level of 4,914 and resistance at 5,078 points.
He said capital inflow is expected to continue that could lift the market today, however, the gains could be limited as some investors were cautious in early trade. However, market expectation that domestic economy continue to be stable would encourage some players to make some selective buying.
Today’s menu :
- INDF
- JSMR
- ASII
- LSIP
- PGAS
- WTON
- JSMR
- BBNI
- UNVR
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