JAKARTA (TheInsiderStories) - Good Morning, Jakarta Composite Index (JCI) is likely to strengthened today and will move in the range 5,251 - 5,418, said William Surya Wijaya from PT Asjaya Indosurya Securities. JCI, He said, still shows the pattern continued strengthening in the range of motion in the short term, while in the long term still in the uptrend, it is certainly supported by the economic conditions are stable and controlled exchange rate.
The potential increase will also be supported by positive sentiment towards performance reporting issuer in full year which will be announced in this month, said William. He recommended JSMR, PGAS, UNVR, INDF, ICBP, BBNI, TBIG, ASRI and PWON stocks to watch today.
JCI closed correction amid weak global stock markets on Monday. The index is down -30 points (-0.57%) to 5316 after moving between 5307-5360. A total of 130 stocks rose, 189 stocks declined, 88 stocks did not move, and 170 shares not traded. Seven out of a total of 10 sectors fell, led by financial sector were down -1.05% and basic industries which fell -0.87%.
Total transaction recorded Rp5.24 trillion, consisting of regular transactions Rp4.26 trillion, negotiations Rp972 billion and Rp34 million in cash. On the regular market, foreign investors posted a net purchase transactions (net buy) Rp46,22 billion.
From Asia, the majority of stock index weakened. TSEI index in Japan fell -0.32%, South Korea’s Kospi fell -0.02%. While the Hang Seng in Hong Kong has appreciated + 0.25%. The majority of European stock markets also weakened since it opened this afternoon. Germany’s DAX Index fell -0.44%, and the CAC in France fell -0.6%. While the FTSE100 in the UK rose + 0.12%.
In the foreign exchange market, Rupiah rose +9 points (+ 0.07%) to Rp13,362 per US dollar, after moving in the range Rp13,353-Rp13,399. This morning, the Rupiah opened up 0.25% or 33 points to Rp13,329 per US dollar.
The movement of the dollar index following the inflation pressure after the release of non-farm payrolls data that showed an increase in wages, which also triggered a rise in US bond yields. Yields on 10-year bond rose from 2.33% to 2.42% after the release of non-farm payrolls data, but still far below the level in December amounted to 2.64%.