The Insider Stories Morning Notes- JCI likely to move sideways, awaits inflation data

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to move sideways today on lack of strong incentives to accumulate shares, with lacklustre performance on Wall Street overnight may put pressure on domestic market.

Some market players may also wait for the May inflation data due out today.

On Tuesday, the Jakarta Composite Index (JCI) closed down 39 points or down 0.81 percent to 4,796 points. Overnight DJIA fell 0.49 percent, S&P500 lost 0.10 percent and Nasdaq edged lower 0.29 percent. Eurozone stocks fell with FTSE in London lost 0.64 percent, DAX edged lower 0.68 percent and CAC in France fell .53 percent.

William Surya Wijaya, head of research department of  PT Asjaya Indosurya Securities, expects the JCI to trade within support level of 4,774 and resistance level of 4,877 points.

William said although the market is still in consolidation phase, it could rebound later in the day should there were some positive news coming to the market.
Today’s menu:

– KLBF

– BMRi

– BBNI

– EXCL

– PPRO

– TBIG

– PWON

– SMCB

– WTON

– TLKM

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Source: The Insiderstories
The Insider Stories Morning Notes- JCI likely to move sideways, awaits inflation data

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