JAKARTA (TheInsiderStories) - the Jakarta Composite Index (JCI) is likely to rise on today’s trading driving by the Federal Open Market Committee (FOMC) and Bank Indonesia (BI) monetary policy will comes out in this week. William Surya Wijaya from Research Department PT Asjaya Indosurya Securities sees the JCI will move in the range 5,221 to 5,389.
Today, he recommended BBNI, JSMR, ADHI, ASII, ASRI, UNVR, KLBF, HMSP and MYOR stocks.
Otherwise, Rupiah is predicted to slump in this week due to interest rates hiking in the FOMC meeting in this week but relatively stable until the end of 2016. On Tuesday (13/12), the Rupiah closed up 0.05% or 6 points to Rp13,325 per US dollar after moving in a range Rp13,332 to Rp13,284 per US dollar. While the BI middle rate at Rp13,309 per US dollar pegged.
Andri Hardianto, Asia Trade Point Futures analyst, said ahead of the FOMC rupiah has strengthened limited due to thin correction of the US dollar. However, the pressure after the announcement of the Fed’s interest rate hikes will be felt.
According to him, the domestic currency will be stabilized as a result of the BI announcement on interest rates. It is estimated that interest rates remained at the level of 4.75%.