JAKARTA (TheInsiderStories) - Indonesian shares are expected to strengthen today, partly supported by the strengthening of commodity prices, in particular oil as well as coal.
On Friday, the Jakarta Composite Index (JCI) closed up 11.647 oints or up 0.24 percent at 4,914.737 points, while LQ45 gained 2,248 points or up 0.27 percent at 852.865.
William Surya wijaya, the Head of Research Department of PT Asjaya Indosurya Securities said technically the JCI is expected to trade within range of 4,856 – 4,935 today.
It appears that the JCI was trying to get out of consolidative phase. The strengthening of commodity prices in particular oil and coal could spark buying interest in selective commodity stocks today, he said.
Nevertheless, some players may still hesitate to chase commodity stocks as the commodity price is still volatile due to over supply, he noted.
He noted the ongoing capital inflow and expected issuance of the government’s 12th economic policy packages could add the positive sentiment.
Today’s menu according to Indosurya :
– PGAS
– ELSA
– WIKA
– BBNI
– GGRM
– HMSP
– BBTN
– INDF
– PPRO
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