The Insider Stories Morning Notes – JCI likely to move mixed ahead of weekend

JAKARTA (TheInsiderStories) – The trading of shares on the Indonesian Stock Exchange is likely to be mixed today ahead of the weekend as players are likely to be cautious of making aggressive moves ahead of the weekend. Some players, however, may target selected stocks on corporation actions or upbeat on performance.

The market trading closed on Thursday on public holiday.

On Wednesday, the Jakarta Composite Index closed down 0.77 percent at 5,653.01 points (-0.57 percent mtd; +6,73% ytd). The decline was led by miniing stocks, with infrastructure stocks capped the losses.

As many as 95 stocks rose, 259 declined and 42 stocks were unchanged.

Bahana Sekuritas said the decline was due to technical correction following recent gains.

“On Friday, the JCI is projected to move mixed, with tendency to strengthen within range of 5,625-5,675 points,” Bahana said.

Stocks to watch are including ASII, LPCK, TOTL, and SRIL.