The Insider Stories Morning Notes – JCI seen higher on BI rate cut, Wall Street

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JCI seen higher on BI rate cut, Wall Street

JAKARTA (TheInsiderStories) – Indonesian stock market is expected to trade higher today (March 18) with market sentiment is bolstered by Bank Indonesia’s decision on Thursday to further cut BI rate by 25 basis points to 6.75 percent, the third cut this year. The positive sentiment is also aided by Wall Street, which ended higher on Thursday.

Reza Priyambada, Head of Research NH Korindo Securities Indonesia, expects the Jakarta Composite Index (JCI) to trade within support level of 4,827-4,862 points and resistance level of 4,910-4,922 points.

He however warned that the market rise could be limited as some investors may decided to take profit later in the day.

On Thursday, the JCI gained 24.25 points or up 0.50 percent to close at 4,885.69 points.

Meanwhile, In Wall Street, Dow Jones index closed up 155.73 points or up 0.9 percent at 17,481.49 points, S&P Index gained 13.37 points (up 0.66 percent) to close at 2,040.59 points, and Nasdaq Index was up 11.02 points (0.23 percent) at 4,774.99 points.

Stocks to watch, according to NH Korindo Securities:

CTRA, trading range: 1340-1385

MPPA, trading range: 1660-1765

WSKT, trading range: 1940-2000

LSIP, trading range: 1750-1890

PWON, trading range: 525-555

AKRA, trading range: 7425-7875

UNTR, trading range: 15275-15675

The post The Insider Stories Morning Notes – JCI seen higher on BI rate cut, Wall Street appeared first on The Insider Stories.

Source: The Insiderstories
The Insider Stories Morning Notes – JCI seen higher on BI rate cut, Wall Street

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