The Insider Stories Morning Notes – JCI may go up in line with global markets

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade in positive zone today, supported by gains in Wall Street overnight as well as European stocks. Recent significant falls may prompt market players to start re-accumulating stocks again today.

On Tuesday, the Jakarta Composite Index (JCI), declined 33 points (0.69 percent) to 4,710.78 point, with trading value of Rp3.3 trillion. The weakening of rupiah also put downward pressure on the market. Decliners led gainers 199 to 99 shares, with 92 stocks were unchanged. At the closing market, the rupiah was traded at Rp13,638 to the US dollar.

Overnight, the DJIA index gained 1.22 percent, S&P500 rose 1.37 percent and Nasdaq added 2 percent. Euro zone markets also rose, with FTSE gained 1.35 percent, DAX in German rose 2.18 percent and CAC of France rose 2.46 percent. In Asia, Nikkei index fell 0.94 percent, Hang Seng index gained 0.11 percent and SSE index, Shanghai fell 0.77 percent.

Mandiri Sekuritas expects the market to rebound today in line with gains in global markets. It expects the JCI to trade within support level of 4,681 and resistance level of 4,746 points.

Bahana Securities expects the JCI to trade in narrow range today, within 4,690-4,740. Stocks to watch, it said, are including CTRP, ANTM, GIAA, JPFA and SRIL. (*)

The post The Insider Stories Morning Notes – JCI may go up in line with global markets appeared first on The Insider Stories.

Source: The Insiderstories
The Insider Stories Morning Notes – JCI may go up in line with global markets

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