JAKARTA (TheInsiderStories) - Jakarta Composite Index (JCI) is expected to move mixed and moving in the range of 5,250-5,300 with stocks that may be considered like MAPI, INDF, LPPF, MLPL and SSIA, said Bahana Securities.
Meanwhile, Samuel Sekuritas Indonesia predict JCI on Tuesday will moving flat as the weakening of United State dollar (US$). The research team adding, market participants are still waiting for the the Federal Reserves meeting, which will begin today.
Samuel highlights the indicator should watch on today’s trading like PTBA (Aims project in Southeast Asia), Oil and gas (EMR proposed a gross scheme split in early 2017) and non-OPEC countries agreed to cut 500k barrel oil per day, DILD: Expansion in Surabaya, PPRO: Push the trading liquidity and JSMR: Planning to integrate Jakarta - Merak started April 2017.
Foreign investors recorded a net sell Rp536,7 billion in the regular market (net sell 1.4 T mtd; net buy Rp8,2 T ytd). A total of 128 stocks rose, 201 stocks declined, 97 stocks unchanged and 154 shares not experience trading.
Five stocks with large capitalization motors JCI are GGRM (-2.97%), CPIN (-1.58%), TLKM (-1.53%), PGAS (-1.41%) and UNVR (-1.14%). Otherwise, five foreign shares are sold on the regular market such as TLKM (Rp142,5 M), UNVR (Rp96,3 M), BJBR (Rp69,7 M), GGRM (Rp62,3 M) and ASII (Rp58,7 M).
Rupiah
Economist Samuel Sekuritas Indonesia Rangga Cipta sees the Rupiah appreciation has been limited. As is known, last week Rupiah closed at Rp13,327.00 per US dollar or rose 0.32% against the previous close (+ 2.15% mtd; -3.31% ytd).
“[The movement of rupiah] still be affected by the strengthening of the US dollar index. The focus today will be on the FOMC meeting in the middle of next week,” he said.
The US dollar index which tracks the movement of the dollar against other major currencies tracked stagnant at the level of 101.10.