JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade lower today on concerns of US election as well as concerned that tomorrow’s protest against one of Jakarta governor candidate, Basuki Purnama, popularly called Ahok, could turn violent. The declines could be capped by gains in some stocks which have released positive Q3 results.
On Wednesday, the Jakarta Composite Index (JCI) fell 11 points or down 0.19 percent to 5,0405.45 with transaction value reaching Rp5.8 trillion.
The sectoral indices that declined were consumer (-0.04 percent) 2,480.5; miscellaneous industry (-0,11 percent) 1.379,98; infrastructure (-0.30 percent) 1,093.43; basic industry (-0.81 percent) 534.60; trade (-1,20 percent) 855.98; property (-1.36%) 549.61 and agriculture (-1.60 percent) 1,760.52
The sectoral indices that increased were mining (+1.77%) 1,362.21 and finance (+0.33 percent) 808.99. Among stocks that declined were LPPF (-3.12%), PGAS (-2.38%), KLBF (-0.86%), CPIN (-0.81%), ICBP (-0.54%)
Bahana Securities expects the JCI to move mixed today and tends to weaken. It expects the JCI to move within range 5,400-5,450. Stocks to watch are including KAEF, INDY, MEDC, PSAB and SSIA. The rupiah is expected to move within Rp12,900-Rp13,100 to the US dollar. Yesterday, it was traded at Rp13,057 to the US dollar. (*)