The Insider Morning Notes – JCI expected to be mixed

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JCI expected to be mixed

JAKARTA (TheInsiderStories) – The Indonesian stock market is expected to be mixed today with potential sell-off in certain sectors, driven by weak global and regional markets, is likely to be offset by gains in selected big caps.

On Tuesday, the Jakarta Composite Index (JCI) closed lower 29.056 points or down 0.59 percent at 4,856.107 points. The LQ45 index closed don 6.962 points or down 0.82 percent at 845.627.

Reza Priyambada, the Head of Research of NH Korindo Securities Indonesia expected the JCI to trade within support level of 4,809-4,837 points and resistance level of 4,890-4,915 points.

On Wednesday, the JCI approached the support level, instead of testing the resistance level. This downtrend may continue should there be no positive sentiment that could trigger investors to buy stocks.

Overnight, Dow Jones Index closed at 17,582.57 points, fell 41.30 points (-0.23%). The rupiah on Tuesday, hovered at Rp13,000-Rp13,200. Most euro zone stocks were also in the red following bombings that killed 35 people in Brussel, Belgium.

At home, the successful of the government in issuing US$2.5 billion global sukuk with reported 3.4-3.5 times oversubscribed may inject positive sentiment to the market. (*)

The post The Insider Morning Notes – JCI expected to be mixed appeared first on The Insider Stories.

Source: The Insiderstories
The Insider Morning Notes – JCI expected to be mixed

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