The Insider Stories Morning Notes – JCI in positive mode

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Market Outlook – JCI may increase on positive economic data

JAKARTA (TheInsiderStories) – Indonesian stock market is expected to go up today on positive economic data, but the gains could be limited as some market players move to take profit following last week’s gains.

On Monday, the Jakarta Composite Index (JCI) closed lower 19 points (-0.71%) at 4.831.

“The JCI has the potentiality to strengthen,” William Surya Wijaya, Research Department PT Asjaya Indosurya Securities. He expects the JCI to trade within resistance level of 4,876 points and support level at 4,779 points.

The capital inflow and news about an increase of foreign exchange reserves may inject enthusiasm to the market players that may trigger selective buying, he said.

He said the commodity prices, including oil price, is expected to still affect the movement pattern of JCI as well as the appreciation of rupiah exchange rate to the US dollar.

On Monday, the Dow Jones Index (DJIA) closed up 0.40%, S&P500 0.38% and Nasdaq -0.19%. Some European markets, however, ended the day in negative territory. FTSE100 index in UK closed down -0.27%, DAX index in Germany closed down -0.46% and CAC in France ended lower -0.32%.

In Asia, Nikkei 225 index fell -0.61 %, Hang Seng index in Hong Kong fell -0.08 % and Shanghai ended higher 0.81%.

Crude oil price (OIL WTI) closed at US$ 36.33 per barrel or up 4.73%.

Stocks to watch, according to Asjaya Indosurya Securities:

– WIKA

– JSMR

– SMCB

– BBNI

– WTON

– ADHI

– KLBF

– LSIP

– AALI

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The post The Insider Stories Morning Notes – JCI in positive mode appeared first on The Insider Stories.

Source: The Insiderstories
The Insider Stories Morning Notes – JCI in positive mode

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