JAKARTA (TheInsiderStories) - Jakarta Composite Index (JCI) is expected to move weakened in the range of 5,125-5,175 with stocks that may be considered like BIPI, ARTI, TLKM, BRMS, and BSDE, said Bahana Securities.
Yesterday, the composite Index closed at 5,162.48 or weakened 0.57% against the previous closing (+ 0.26% mtd; + 12.40% ytd). JCI weakening driven by TLKM (-1.84%), which has a weight of 6.4% against JCI, amid fears of a decline in interconnection rates as well as the backbone sharing.
Almost all sectors fell by infra sector suffered the biggest drop, leaving only the banking sector have increased. Foreign investors recorded a net sell Rp502,6 billion in the regular market (net sell 4.4 T mtd; net buy 5.2 T ytd). A total of 114 stocks rose, 220 stocks declined, 41 stocks unchanged and 205 shares not experience trading.
On the foreign exchange Market, Bank Central Asia economist David Sumual sees the terror attacks on the Turkish market, ranging from truck to crash in Germany weighed on the market. His causing concern the marke. He estimates that the Rupiah will come back down and move in the range of Rp13,350 to Rp 13,450.
While Faisyal, Research and Analyst Monex Investindo Futures adding, this condition enables investors turn to safe-haven assets secure aliases, including the US dollar. He also sees the Rupiah will weakened to Rp 13,380-Rp 13,465 per US dollar.
On Tuesday, the rupiah today closed at Rp13,380 per USD weakened 0.15% against the previous close (-1.28% mtd; -2.93% ytd).