The Insider Stories Morning Notes: JCI still in bearish teritory

JAKARTA (TheInsiderStories) – Bahana Securities sees the Jakarta Composite Index (JCI) to move mixed today, hovering in the range of 5,600 to 5,650 points. Stocks that can be considered are including ACES, EXCL, ICBP, JPFA, SMBR, and TMAS.

On Wednesday (May 17), JCI closed at the level of 5,615.49 points or weakened 0.56 percent  against the previous closing (-1.23% mtd; + 6.02% ytd).

The decline of the composite index was exposed to negative sentiment from declining commodity prices as well as the release of automotive sales data that was below estimates.

A total of 140 stocks rose, 206 shares declined, 83 shares unchanged, and 162 shares did not trade. While, the rupiah today closed at Rp13,315 per US dollar or strengthened 0.25% against the previous close (-0.10% mtd; -1.17% ytd). (*)