JAKARTA (TheInsiderStories) - Good morning, the Jakarta Composite Index (JCI) is estimating will move in the range of 5,288 - 5,418 today, said William Surya Wijaya from PT Asjaya Indosurya Securities. He recommended JSMR, PGAS, ADHI, WIKA, KLBF, BBNI, TLKM, ASRI and PWON stocks for today’s menu.
According to him, JCI looks still in consolidation phase amid data releases by issuer’s performance on an annual basis in this month. Meanwhile, PT Mirae Asset Sekuritas Indonesia also sees JCI is still likely to consolidation for a while. Estimates range trading between the levels of 5,283-5,337.
Yesterday, the index is down -8 points (-0.16%) to 5,301 after moving between 5301-5322. A total of 148 stocks rose, 149 stocks down, 103 stocks did not move, and 177 shares not traded. Seven out of a total of 10 sectors fell, led by various industry sectors which fell -1.74% and -0.57% down infrastructure.
The investors transaction recorded Rp5.3 trillion, consisting of regular transactions Rp4,42 trillion, negotiations Rp882.06 billion and Rp352 million in cash. On the regular market, foreign investors recorded a net sales Rp57.28 billion.
From Asia, the majority of stock indices rose. Nikkei225 index in Japan rose + 0.33%, South Korea’s Kospi rose + 1.47%, and the Hang Seng in Hong Kong has appreciated + 0.84%. The majority of European stock markets also rallied since it opened this afternoon. FTSE100 index in Britain rose + 0.18% and the DAX in Germany gained + 0.04%, while the CAC in France fell -0.02%.
In the foreign exchange market, Rupiah fell -11 points (-0.08%) to Rp13,319 per US dollar, after moving in the range Rp13,296-Rp13,341. Rangga Cipta from Samuel Sekuritas predicts the Rupiah will likely strengthen on Thursday (12/01) in line with the weakening US dollar.
He said the US dollar index is slowly being corrected as optimism over the outlook for the US economy began to be eroded by reality. The US economic data that is not too solid and Trump’s comments regarding its policies are less convincing and on the other hand the market wait Yellen’s speech tonight.