JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade higher today (June 7) on buying interest in mining and energy stocks supported by news of a rise of crude oil in the past three days, with the gains on wall Street overnight are likely to add positive note on local market.
On Monday (June 6), the Jakarta Composite Index (JCI) closed up 42.103 points or up 0.87 percent at 4,896.025, while LQ45 ended higher 10.289 points or up 1.24 percent at 841.230.
Almost all industry sectors recorded gains, led by mining stocks index (up 1.51 percent) and miscellaneous industry index which recorded a rise of 3.19 percent. Gainers led decliners 156 to 133 shares, with 103 shares were unchanged. As many as 4.06 billion shares changed hands valued at Rp4.97 trillion.
Among stocks that drove up the market were HMSP, TLKM, UNVR, BBCA and ASII.
Daewo Seucurities said in a morning note that the JCi is expected to trade within support level of 4,852 points and resistance level of 4,905 points today. It said the market could come off later in the day on profit taking, therefore market players need to pay attention on market sentiment.
Overnight, Wall Street closed higher on positive note from the Governor of The Federal Reserve (The Fed) Janet Yellen and the plan by the Fed to raise Fed Fund Rate. DJIA index gained 0.64 percent, S&P500 index rose 0.49 percent and Nasdaq closed up 0.53 percent. (*)