The Insider Stories Morning Notes – JCI expected to go up, eyes on external trade data

JAKARTA (TheInsiderStories) – Indonesian shares on the Indonesian Stock Exchange is projected to trade in positive zone today supported by buying interest from foreign buyers, with additional investment likely to be boosted by stable economy.

Investors are likely to await economic data, including April export and import data due out today.

William Surya Wijaya, an analyst with Asjaya Indosurya Sekuritas, projected the JCI to move within range 5,636-5,775 points today.  He sees capital inflow continues as reflected in net buy position of foreign investors in the past few days.

“Today, JCI has a good chance to strengthen,” he said in an investor note.

Last Friday, the JCI closed up 22.2 points or 0.39 percent at 5,675.21 points. Foreign investors net buy reached Rp1.18 trillion.

In Asia, markets ended mixed last Friday, with Japan’s Nikkei ended down, but Shanghai market strengthen.

Meanwhile, Reliance Securities projected the JCI move within range of 5,580-5,720 points.

Stocks to watch are including  AALI, ANTM, BKSL, MEDC and WIIM. (*)