JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade mixed today on lack of strong leads. Some market players may refrain from entering the market, but others may make selective buying on upbeat of security condition following peaceful regional government elections held across the nation on Wednesday (Feb. 15).
Some players may also awaits for trade data due to be release in midday today by the Central Bureau of Statistic (BPS). The market closed on Wednesday as the country held regional government elections in many parts of the nation.
On Tuesday, the Jakarta Composite Index fell 28 points or down 0.53% to 5,380 points after trading within support level of 5,370-5,409 points. As many as 124 stocks rose, 204 declined, 98 were unchanged and 151 were untraded, with trading value reaching Rp7.91 trillion. Foreign investors were net sell of Rp173.46 billion.
In forex market, the rupiah lost 6 point or down 0.05% to Rp13,330 to the US dollar, after moving within range of Rp13,305-Rp13,335 to the US dollar.
All sectoral indices declined led by basic industry index which fell 1.27% and trade index which lost 0.93%. in Asia, majority of indices declined. Nikkei225 index fell 1.13%, Kospi lost 0.2% and Hang Seng in Hongkong edged down 0.03%.
Reza Priyambada, analyst at Binaarta Sekuritas said the JCI in general is still in bearish mode today, trading within support level of 5,364-5,347 and resistance level of 5,403-5,425 points. However, as for today, he sees the JCI to have potentiality to go up, with possible profit-taking later in the day, as investors remain cautious. (*)