JAKARTA (TheInsiderStories) - Indonesian shares are expected to trade mixed today, with potentiality to ended in positive zone ahead of the weekend. Players are likely to remain hesitant to make aggressive moves on concerns of US rate hike, analysts say.
on Thursday (Mar 3), the JCI closed up slightly by 0.16% at 5,402.39 points (+0.29% mtd; +2.00% ytd).
The rise was driven by buying interest of foreign invstors in banking and telecom stocks, capping the fall following sell-off by local investors. Foreign investors were net buy of Rp174.1 billion.
As many as 135 stocks rose, 195 declined, 110 were unchanged and 138 were untraded.
The rupiah was trading at Rp13,385 to the US dollar at the market close (+0.37% mtd; -0.65% ytd), Bahana Sekuritas said. Technically, the market was in consolidation mode with low volume trading.
“On Friday, the JCI is projected to move mixed, with tendency to strengthen slightly, hovering within 5,387-5,435 range,” Bahana said. Stocks to watch are including AKRA, BNGA, EXCL, TBLA, WIKA. (*)