JAKARTA (TheInsiderStories) - The trading on the Indonesian stock market is expected to be mixed today, with buying interest in some stocks are likely to be offset by sell-off in other stocks as some players may opt to cash out ahead of the weekend. Some players may opt to wait and see for fresh leads to enter the market.
On Thursday, the Jakarta Composite Index closed up 0.54% at 5,563.76 points from previous day’s trade (+3.29% mtd; +5.04% ytd). Bahana Sekuritas noted that the JCI reached the all time high closing, supported by banking and mining stocks.
Foreign investors were net-buy, amounting to Rp879.5 billion. As many as 203 shares rose, 126 declined and 108 stocks were unchanged.
In foreign exchange, the rupiah was traded at 13.326 rupiah per USD, edged down 0.02% (0.08% mtd; -1.10% ytd).
Overnight, U.S. stocks fell after a key vote in the House regarding a Republican-led health care bill was delayed. The Dow Jones industrial average fell about 5 points, while the S&P 500 slipped 0.1%, having traded 0.45% higher earlier.
“On Friday’s trading, the JCI is projected to move mixed, with a tendency to strengthen within range of 5,550-5,600 points,” Bahana Sekuritas said in its investor note.
Stocks to watch are including ASII, CTRA, EXCL, MNCN, and MPPA, said Bahana.
Five stocks that drove the market on Thursday were BBNI (+4.55%), BBCA (+1.68%), PGAS (+1.22%), BMRI (+1.06%), ASII (+0.60%). While five stocks that were mostly bought by foreign investors were BMRI (Rp339.4 billion), BBCA (Rp274.4 billion), BBNI (Rp126.4 billion), BBRI (Rp77.2 billion) and ASII (Rp34.2 billion). (*)