JAKARTA (TheInsiderStories) - Good morning, Jakarta Composite Index (JCI) is still in a bearish trend after break of support level on Tuesday, analyst from Reliance Securities Lanjar Nafi. Index, he predicted move in the range of support 5,235 and resistance 5,325.
Yesteday, JCI closed slid as weakening of European markets. The index is down -3 points (-0.06%) to 5,266 after moving between 5,265-5,287. Total of 159 stocks rose, 141 stocks down, 104 stocks did not move, and 171 shares not traded. Six of the total 10 sectors rose, led by various industry sectors which rose + 0.87% and agriculture are up + 0.65%.
Total transaction recorded Rp4.67 trillion, consisting of regular transactions Rp3.94 trillion, negotiations Rp732.5 billion, and cash Rp2 million. On the regular market, foreign investors recorded a net sales Rp74.14 billion.
From Asia, the majority of stock indices rose. South Korea’s Kospi Index gained + 0.37%, and the Hang Seng in Hong Kong has appreciated + 0.54%, while Nikkei225 in Japan down -1.48%. Majority of European stock markets weakened since it opened this afternoon. FTSE100 index in the UK dropped -0.4%, DAX in Germany fell 0.65%, and the CAC in France fell -0.56%.
In the foreign exchange market, Rupiah strengthened +29 points (+ 0.22%) to Rp13,333 per US dollar, after moving in the range Rp13,299-Rp13,383. Sri Wahyudi, Research and Analyst PT Garuda Futures reveals Trump factors will still continue to haunt the US as long as he has not given the assurance of the realization of economic policy in the future.
Markets are also wary of the statements from the Fed officials. If there is a signal of better economic projections, could withstand the strengthening of the Rupiah in a limited range., said Wahyudi.
In addition, to support the strengthening of Rupiah also came from the improvement in commodity prices, especially oil. He guessed, rupiah will still have the potential to strengthen as global markets tend to consolidate and instantaneous risk assets under the spotlight.