JAKARTA (TheInsiderStories) - Indonesian shares are expected to move sideways today amid lack of strong incentives, with declining in Wall Street overnight is likely to weigh on market sentiment.
The news that S&P hints of raising Indonesia’s rating to investment grade and a rise of oil price on Wednesday may injected positive note on the market.
On Wednesday, the Jakarta Composite Index (JCI) closed up 36 points or up 0.77 points at 4,799.
Reza Priyambada, head of analyst at NH Korindo Securities Indonesia, said technically, the JCI is expected to trade within support level of 4,751-4,769 and resistance level of 4,822-4,854 today.
“We expect the JCI could still try to stay in green zone. However, market players need to be alert on changes of sentiment,” he said.
Stocks to watch:
- Inco
- SMGR
- AISA
- BISI
- ASII
(*)