The Insider Morning Notes – JCI seen lower on profit taking

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JCI seen lower on profit taking

JAKARTA (TheInsiderStories) – Indonesian stock market is expected to trade in red zone today, extending yesterday’s losses, as market players are expected to cash out after recent days gains.

The Jakarta Composite Index (JCI) on Thursday closed finally lower at 4,867.29 points or down 0.94 percent, after staying in positive teritorry much of the day. Profit taking minutes before the trading close, dragged the index lower.

Analysts say the JCI could go down today, pressured by profit taking ahead of the weekend. The JCI is expected to trade between 4,840-4,910, an analyst with Reliance Securities Lanjar Nafi said.

Meanwhile, the US stocks closed about 1 percent lower or more on Thursday, with financials leading the declines. Continued strength in the yen against the dollar renewed concerns about global growth and the effectiveness of central bank policy.

Dow Jones closed at 17,542 points, or down 0.94 percent, Nasdaq closed at 4,849, or down 1.47 percent, while S&P 500 index lost 1.20 percent to close at 2,042. (*)

The post The Insider Morning Notes – JCI seen lower on profit taking appeared first on The Insider Stories.

Source: The Insiderstories
The Insider Morning Notes – JCI seen lower on profit taking

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