JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade higher today, extending yesterday’s gains boosted by global markets rise following the US Federal Reserves decision to raise its Fed funds rates, analysts say. Some players may begin accumulating selected stocks on upbeat on 2017 performance, but few players may refrained from making aggressive moves ahead of the weekend.
On Thursday, the Jakarta Composite Index (JCI) rose 85 points or 1.58% to close at 5,518 points after moving within range of 5,458-5,518 points. As many as 186 stocks increased, 121 declined, 120 stocks were unchanged and 152 were untraded. The transaction value reached Rp8.65 trillion.
All sectoral (10) indices ended in positive territory, led by miscellaneous industry stocks (up 3.92%) and manufacturing (up 2.02%).
Asjaya Indosurya expects the JCI to move within support level of 5,402 points and resistance level of 5,524 points today.
“The JCI is now very close to make new record, reaching highest level in its history,” Indosurya said in its investor note.
It said the Fed’s decision has given certainty to the global markets, hence injecting positive mood to the markets. Domestic market is also trending up, boosted by the capital inflow.
Most Asian stock markets were also ended in positive territory, with Nikkei225 rising by 0.07%, Kospi rose 0.8% and Hang Seng in Hong Kong surged 2.08%.
“The chance for the market to go up is greater today, partly supported by capital inflow,” Indosurya said.
In forex market, the rupiah was trading at 13,347 to the US dollar when the market closes, up 0.13% from previous day.
Today’s menu :
Today’s menu :
- PGAS
- TBIG
- HMSP
- ADHI
- JSMR
- TOTL
- WTON
- ICBP
- PWON
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