JAKARTA (TheInsiderStories) - Indonesian shares trading are expected to be mixed today, with gains in some stocks are likely to be capped by moves by some market players to take profit, after recent days gains.
On Wednesday (April 5), the Jakarta Composite Index (JCI) closed up 25.157 points or up 0.44 percent at 5,676.98 points. Foreign investors were recorded as net buy, amounting to Rp590 billion.
The rupiah was traded at Rp13,320 to the US dollar at the market closing. In Wall Street, Dow Jones ended lower by 0.20 percent to 20,648 and S&P500 declined by 0.31 percent t o 2,352, following a report by The Fed, which shows that the Fed wanted to reduce the balance sheet of The Fed this year.
A market analyst Desmon Wira proejcted the JCI to move within support level of 5,600 and resistance level of 5,700.
“Watch out the profit taking,” he noted.
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