JAKARTA (TheInsiderStories) - Indonesian shares are expected to move up slightly today, supported by buying in selected stocks, but concerns on US rate hikes may discourage some players to enter the market, analysts say.
“On Wednesday, the JCI (Jakarta Composite Index) is expected to move within tight range of 5,385-5,431 points,” said Bahana Sekuritas in its investor notes. Stocks to watch are including BJTM, BDMN, DMAS, LCGP and LPPF.
On Tuesday,t he JCI ended at 5,402.62 points or down slightly by 0.13% from previous day’s trade ( (+0,30% mtd; +2,00% ytd). Technically, the decline was a technical correction with low trading volume, with flat stochastic, RSI and MACD.
The selling pressure on the market eased towards the end of the day following buying interest in Telkom stocks after the management conducted public presentation on its 2016 results and outlook for 2017.
As many as 155 stocks rose, 171 declined, 114 were unchanged and 138 were untraded. The rupiah was trading at 13,344 to the USD, edged up 0.01% from previous day’s close.
Five stocks that drove the JCI on Tuesday:
CPIN (-2.24%)
KLBF (-1.97%)
SMGR (-1.58%)
PGAS (-1.06%)
ICBP (-0.90%)
Five stocks that were bought by foreign investors in regular market:
ASII (Rp211.5 M)
LPPF (Rp85.9 M)
UNTR (Rp42.7 M)
BBRI (Rp20.0 M)
BBTN (Rp15.1 M)
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