JAKARTA (TheInsiderStories) - PT Erdikha Elit Sekuritas predicts Jakarta Composite index (JCI) in 2017 will be in the range of 6,100-6,200 in 2017 with the assumption that economic growth around 5.2 to 6 percent. The brokerage house also sees the stocks related to the interest rate will be benefited in 2017
Managing Director of PT Erdhika Elit Sekuritas Tjiong Toni said the impact of interest rate cuts by Bank Indonesia, were quite aggressive this year, will have an effect on stock performance next year. He gave an example, property company like PT PP Property Tbk (PPRO) and PT Pakuwon Jati Tbk (PWON) is recommended to collect in 2017.
Toni also predicts, JCI at the end of this year there will be at the level of 5,271 to 5,342, in which the target that has been set since the beginning of the year.
For today, Erdikha’s analyst Adrian Priyatna rate, the weakening rupiah against the US dollar helped push the stock market. JCI weakened for seven days in a row and has broken through the support level of 5,140.
Today, He predict the bearish pressure continues with a short term target of 5,065, which is the nearest JCI cut loss level. Adrian predict JCI is moving in the range of support 5096 and resistance 5,148.
Yesteday, JCI closed corrected amid weakening Asian stock markets today. The index fell -51,08 point (0.99%) to 5,111 after moving between 5,111-5,188. A total of 113 stocks rose, 183 stocks down, 104 stocks did not move, and 169 shares not traded.
The investors transaction recorded Rp6.94 trillion, consisting of regular transactions Rp4.08 trillion and Rp2.85 trillion in negotiations market. On the regular market, foreign investors recorded a net sales Rp232.68 billion. A total nine of 10 sectors fell, led by consumer goods sector is down -2.87% and manufacturing fell 1.68%.
From Asia, the majority of stock index corrected. Nikkei225 index in Japan rose -0.26%, South Korea’s Kospi fell -0.19%, and the Hang Seng in Hong Kong has appreciated + 0.37%. The majority of stock indices in Europe has strengthened since it opened this afternoon. FTSE100 index in Britain rose + 0.07% and the DAX in Germany gained + 0.08%, while the CAC in France fell -0.16%.
In the foreign exchange market, economist Samuel Sekuritas Rangga Cipta said the rupiah weakened despite the outflow of foreign funds eased. He added, prospects of Rupiah in the short term will tend to be depressed by the global situation.
On the other hand, Rangga said, although in the short term weakening of the rupiah could survive, the appeal of higher-yielding government bonds and the expectation of improved economic growth due to rising commodity prices could restore positive sentiment on the rupiah in the medium term.
Yesterday, Rupiah fell 21 points (0.16%) to Rp13,459 per US dollar, after moving in the range Rp13,423-Rp13,485.