JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today, boosted by the Standard & Poo’rs decision to improve Indonesia’s rating late last week to investment grade.
The Jakarta Composite Index (JCI) is projected to strengthen today, moving within 5,686 support level and 5,842 resistance level, William Surya Wijaya, an analyst with Indosurya Sekuritas said.
He said the rating improvement reflects investors’ confidence on Indonesia’s economic stability, which should boost capital inflow into the country, including the stock market.
He said there could be some correction along the way, but this could provide opportunity to buy selected stocks.
Stocks to watch today, according to Indosurya: