JAKARTA (TheInsiderStories) - The trading of shares on the Indonesian Stock Exchange (IDX) is expected to be mixed, pressured by falls in Wall Street overnight. Some market players, however, may continue to accumulate certain stocks, offsetting shares fall elsewhere.
Overnight, Dow Jones Industrial Average index and S&P 500 dropped by more than 1%, the worst since November last year.
In domestic market, the Jakarta Composite Index (JCI) closed higher by 9 points (+0,16%) to 5,543, after hovering within 5,525-5,554 points. As many as 160 stocks increased, 161 shares declined, 107 shares were unchanged and 150 stocks were untraded.
The transaction value reached Rp8.04 trillion. Six out of ten sectoral indices ended in positive zone, led by mining stocks, which surged by 2.2% and agribusiness sectoral index gained 0.51%.
In Asia, majority of indices ended in positive zone. Kospi index in South Korea gained 0.99% and Hang Seng in Hong Kong rose 0.37%, and Nikkei225 fell 0.34%.
Asjaya Indosurya head of research William Surya Wijaya said he expects the JCI to move within support level of 5,452 points and resistance level of 5,578 points.
“The JCI still has the chance to strengthen, judging from the ongoing capital inflow,” he said in investors’ note. The fluctuation of commodity prices, however, is expected to continue affect shares movement going forward.
Today’s menu, according to Asjaya Indosurya:
- PGAS
- ADHI
- EXCL
- GGRM
- HMSP
- MAIN
- BBCA
- UNVR
- ISAT
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