The Insider Stories Morning Notes – JCI may extend gains on stronger rupiah, Wall Street

JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade in positive territory today, extending yesterday’s gains, with the strengthening of rupiah and gains on Wall Street overnight help injected positive sentiment on domestic market.

Yesterday (June 7), the Jakarta Composite Index (JCI) closed up 37.97 points or up 0.78 percent at 4,933.99.

Overnight DJIA Index closed up 0.10 percent at 17,938 points, S&P500 Index edged up 0.13 percent at 2,112.13 points and Nasdaq fell 0.14 percent to 4,961.75 points.

He said the JCI is now approaching resistance level of 4,980 and could break the level if buying interest continues. He said the capital inflow may continue that could lift the JCI further up as well as helps strengthen the rupiah.

On Tuesday, at market closing, the rupiah was traded at Rp13,262 to the US dollar.

He said technically the JCI has formed short-term upward trend, therefore it has the potentiality to move higher today.

Today’s menu  :

– KLBF

– WTON

– BBNI

– KAEF

– UNVR

– INDF

– ASII

– SMCB

– MPPA