JAKARTA (TheInsiderStories) - Good Morning, the Jakarta Composite Index (JCI) ready to penetrate the resistance level 5,301, said Binaartha Securities analyst Muhammad Nafan Gustautama Aji. He added, JCI is still detectable continue rising in the range 5,302 and 5,309.
According to him, a number of stocks recommended to buy namely BMTR, INTP, TINS, PTPP, and HMSP. Meanwhile, shares of INCO recommended buy on weakness.
Yesterday, JCI closed higher amid rising European stock exchanges today. The index rose 27 points (+ 0.53%) to 5,294 after moving between 5,273-5,294. A total of 176 stocks rose, 124 stocks down, 114 stocks did not move, and 160 shares not traded.
As many as nine out of a total of 10 sectors rose, led by agribusinesses rose + 1.78% and miscellaneous industries rose + 0.97%.
Total transaction recorded Rp6.26 trillion, consisting of regular transactions Rp5.15 trillion, negotiations Rp1.1 trillion and Rp2 million cash. On the regular market, foreign investors posted a net buy Rp66-36 billion.
From Asia, the majority of stock indices were mixed. Nikkei225 index in Japan rose + 0.43% and the Hang Seng in Hong Kong has appreciated + 1.13%, while South Korea’s Kospi Index fell -0.06%. The majority of European stock indices rose since it opened this afternoon. FTSE100 index in Britain rose + 0.12% and the DAX in Germany gained + 0.21%, while the CAC in France fell -0.25%.
In the foreign exchange market, Rupiah fell -14 points (-0.11%) to Rp13,347 per US dollar, after moving in the range Rp13,309-Rp13,348. Reny Eka Putri, Money Market Analyst PT Bank Mandiri Tbk, said the correction on the Rupiah due to profit taking action by investors.
In her view, the strengthening of Rupiah still limited in the coming days. The reason, the advisers of Trump stated that the strengthening of the US dollar is too strong and is a bad signal for the US economy in the future.
Moreover, She added, if Bank Indonesia maintain the level of seven days repo rate is at 4.75% as assumed then this could inject additional power for the Rupiah on Thursday (19/1).