The Insider Stories Morning Notes – JCI expected to trade higher on capital inflow, hit new records

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today, extending recent days gains, driven by ongoing capital inflow on the back of the government’s tax amnesty policy. News of under controlled inflation in July also added positive note on the market.

Year to date, the JCI has increased by 16.99 percent, highest among world stock indices. This indicates an improvement of investors’ confidence on the country’s capital market.

On Tuesday, the Jakarta Composite Index (JCI) closed up 11.747 points or up 0.22 percent to 5,373.323, while LQ45 rose 0.810 points or up 0.09 percent to 926.910. Six sectoral indicies recorded gains led by basic industrial stocks (up 1.94 percent), followed by consumer goods index which went up 1.48 percent.

As many as 165 stocks went up, 172 shares declined, while 82 stocks were stagnant, with trading volume reaching 7.55 billion stocks valued at Rp10.758 trillion.

Asjaya Indosurya Head of Research William Surya Wijaya said technically the JCI is expected to move between support level of 5,303 points and resistance level of 5,418 points today.

“The JCI shows potentiality to strengthen supported by inflow of capital, which is still continuing, release of inflation data which shows the economy remains stable and under control, fueling investors confidence in our capital market,” he said.

“The JCI is trading above support level of 5,303 points with potentiality to break resistance level of 5,418 points. Today, JCI could go up,” he said.

Today’s menu :

– KAEF

– SMCB

– LSIP

– BBNI

– EXCL

– BBCA

– UNVR

– GGRM

(*)

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI expected to trade higher on capital inflow, hit new records

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