JAKARTA (TheInsiderStories) - Indonesian shares are expected to move sideways today amid lacklustre global markets performance as well as lack of fresh leads from domestic market.
On Wednesday (March 8), the Jakarta Composite Index (JCI) closed slightly down by 0.16% at 5,393.76 points (+0,13% mtd; +1,83% ytd). Foreign investors were net buy at Rp634 billion.
As many as 141 stocks rose, 167 declined, 98 were unchanged ant 172 stocks were untraded.
Bahana Sekuritas said the JCI moved flat on concerns on geopolitical issues that dampened sentiment in global markets. Investors are also waiting for the release of US employment data that could affect the Federal Reserves in determining Fed Funds rate.
The rupiah was traded at 13,353 against USD at the market close, or gained 0.13% from previous day (+0,13% mtd; -0,89% ytd).
“On Thursday (March 3, the JCI is projected to move mixed, with a tendency to weaken, moving within range of 5,387-5,435 points,” Bahana said in an investor note.
Stocks to watch are including: PWON, RALS, SMCB, VIVA, and WSKT.
Mandiri Sekuritas predicted the JCI to move sideways, with JCI expected to move within support level of 5,363 and resistance level of 5,431. (*)