JAKARTA (TheInsiderStories) – Indonesian shares are expected to go up today supported by positive global markets and buying interest in selected big caps.
On Monday, the Jakarta Composite Index (JCI) opened higher but finally ended in the red zone, closing at 5,749 points, down 42.43 points or 0.73 percent. As many as six of ten sectoral indices weakened, with 170 stocks rose, 171 declined and 104 stocks were unchanged.
The total transaction reached Rp8.2 trillion. News of the improvement of Indonesia’s rating to investment grade by S&P may add positive note on the market.
Most major Asian stocks ended in positive territory, with Nikkei225 ended up 0.45 percent, Kospi rose 0.68 percent and Hang Seng in Hongkong rose 0.86 percent.
Analyst with Indosurya Mandiri Sekuritas William Surya Wijaya expects the JCI to move within support level of 5,683 points and resistance level of 5,878 points.
He, however, noted that the JCI still has uptrend potential in the medium to long run, although there could be risk of consolidation in the short term. “For today, there is a good chance for the market to go up,” he said.
Today’s menu : PGAS, EXCL, ISAT, KLBF, ICBP, INDF, ADHI, UNVR, BBNI and BBCA. (*)