The Insider Stories Morning Notes – JCI expected to move sideways

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to move sideways today as investors are waiting for new leads to enter the market, with some players are cautious ahead of Brexit vote to be held on June 23, which will decide whether UK would leave European Union or not.

On Friday, the Jakarta Composite Index (JCI) closed up 20.752 points or up 0.4 percent at 4,835.143. At market closing, the rupiah was traded at Rp13,339 to the US dollar. DJIA index dropped 57.94 points or down 0.33 percent at 17,675, S&P500 fell 6.77 points or down 0.33 percent at 2,071. Oil price was traded at US$48.26 per barrel.

William Surya Wijaya, head of research of Asjaya Indosurya Securities, said technically the JCI is expected to move within range of 4,802 and resistance level of 4,886 points.
He said overall the market is in consolidation phase, with support of 4,802. The market has the potentiality to go up following Bank Indonesia’s move last Thursday to cut BI rate by 25 basis points to 6.50 percent, the fourth cut so far this year. The relatively stable rupiah and ongoing capital inflow may add positive note on the market.
Today’s menu :

– KLBF

– LSIP

– BBNI

– JSMR

– TLKM

– ASII

– GGRM

– INDF

– PWON

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI expected to move sideways

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