The Insider Stories Morning Notes – JCI likely to extend gains, awaits inflation data

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JCI likely to extend gains, awaits inflation data

JAKARTA (TheInsiderStories) – The Indonesian stock market is expected to extend gains today as market sentiment is boosted by gains on Wall Street overnight and the latest release of government new economic policies.

The government’s decision to further cut fuel prices is also expected to weigh on market sentiment.

The Jakarta Composite Index (JCI) is expected to move within support level fo 4,767 and resistance level of 4,855 points, said William Surya Wijaya, the Head of Research of  PT Asjaya Indosurya Securities.

Market players are now waiting for the release of economic data, including inflation and further release of corporates 2015 financial results.

“The index seems to have strong support of 4,767 points with resistance at 4,855 points, which need to be broken before further strengthens,” William said.

On Wednesday, the JCI closed up 35.36 points or up 0.74 percent at 4,816.65 points. Throughout the day,t he JCI moved within 4,792.26 — 4,8336.12 points.

Todays menu, according to Indosurya:

– ASII

– INDF

– KLBF

– WIKA

– ASRI

– WTON

– BBNI

– BWPT

– PWON

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI likely to extend gains, awaits inflation data

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