JAKARTA (TheInsiderStories) - Good Morning, Mandiri Sekuritas predicts the Jakarta Stock Index (JCI) will moves sideways and move in the range 5,255 up to 5,315. Meanwhile, Elite Erdikha Securities analyst Adrian M Priyatna argues, JCI still failed to break above the level of 5,309 fractal. He estimate JCI to move in the range of support 5,266 and resistance 5,330.
Yesterday, JCI closed higher amid rising global stock markets today. The index rose +1.6 points (+ 0.03%) to 5293 after moving between 5287-5310. A total of 133 stocks rose, 173 stocks down, 112 stocks did not move, and 155 shares not traded. A total of five out of a total of 10 sectors rose, led by basic industries sector which rose + 1.59% and manufacturing rose + 0.54%.
Total transaction recorded Rp8 trillion, consisting of regular transactions Rp5.97 trillion, Rp2.02 trillion in negotiation market and cash 5 million. On the regular market, foreign investors recorded a net sales Rp165.63 billion.
From Asia, the majority of stock indices rose. Nikkei225 index in Japan rose + 1.43%, South Korea’s Kospi gained + 0.06% and the Hang Seng in Hong Kong has appreciated + 0.43%. The majority of European stock markets also rallied since it opened this afternoon. FTSE100 index in Britain rose + 0.72%, the DAX in Germany gained + 1.29% and the CAC in France has appreciated + 1.09%.
In the foreign exchange market, Rupiah fell -39 points (-0.29%) to Rp13,361 per US dollar, after moving in the range Rp13,326-Rp13,365. Reny Eka Putri, Money Market Analyst Bank Mandiri, said investors took profits after the rupiah strengthened recently.
Other analyst Vidi Yuliansyah from Monex Investindo, said the rupiah also depressed growth report foreign investment flow in the country during the fourth quarter 2016. Foreign investment in the period rose only 2.1% from the previous quarter growth touched 7.8%. It suppresses the Rupiah
Vidi estimates, the rupiah today will move in the range of Rp13,290 to Rp 13,370 per US dollar. While Reny count, the Rupiah will move flat is likely to weaken in the range of Rp 13,300-Rp 13,380 per US dollar.