JAKARTA (TheInsiderStories) - Indonesian shares are expected to move flat in early morning trade today, with a potentiality to go up later in the day on technical rebound following last week’s decline, analysts say. The gains in Asian market may weigh on local stock market today.
Indo Premier securities projected the JCi to move within support level of 5,350 points and resistance level of 5,395 points today.
On Friday (Feb. 10), the Jakarta Composite Index (JCI) fell slightly by 0.4 points or down 0.01% to close at 5,371.669 points, after moving within 5,371-5,400 points. As many as 189 stocks increased, 142 declined, 97 stocks were unchanged and 147 were untraded.
Total transaction reached Rp8.33 trillion, consisting of Rp6.57 trillion transaction value in regular market, Rp1.75 trillion in negotiation market and cash Rp10 million. Foreign investors were net buy of Rp128.89 billion. Three out of 10 sectoral indices declined led by financial sector index (down 1.14%) and trade (down 0.18%).
Most of Asian stocks ended in positive territory on Friday, with Nikkei225 rose 2.49%, Kospi up 0.45% and Hang Seng in Hong Kong gained 0.07%.
In foreign exchange market, the rupiah lost 17 points to Rp13,312 to the US dollar, after moving within Rp13,297-Rp13,331 range.
Dow Jones last week rose 96.97 points (up 0.48%) at 20,269, S&P500 rose 8.23 points (up 0.36%) at 2,316, while crude oil was at $53.85 per barrel. (*)