The Insider Stories Morning Notes – JCI expected to be mixed ahead of weekend, deflation news

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to go up slightly today, with selective buying by some investors are likely to be capped by moves by other players to take profit ahead of the weekend.

On Thursday, the Jakarta Composite Index (JCI) declined by 52 points or down 0.96 percent to 5,334.55 with transaction value reaching Rp4.3 trillion, with release of news on deflation in August appeared to have limited impact on the market.

All sectoral indices declined, led by infrastructure and property industries stocks. As many as 82 shares increased, 233 declined, with 90 stocks were unchanged.

Leading the declines were PGAS, LPPF, INTP, SCMA and GGRM, TLKM, PWON and KAEF.

Bahana Securities said in its morning notes that the JCI is projected to move mixed today, within support level of 5,325 and resistance level of 5,400. On Thursday, at the market closing the rupiah was traded at Rp13,269 to the US dollar.

Asjaya Indosurya projected the JCI to move within support level of 5,302 and resistance level of 5,458.

“The JCI is still in consolidation phase following the release of deflation data, which shows that the economy is still in relatively stable condition,” Asjaya analyst William Surya Wijaya said

“The selling pressure at present could be used by market players to start accumulating stocks for long run considering that the JCI is still in uptrend mode in the long run. The JCI today has the potentiality to go up,” he said.

Today’s menu  :

– PGAS

– KLBF

– ICBP

– BBNI

– JSMR

– EXCL

– TBIG

– INDF

– UNVR

(*)

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI expected to be mixed ahead of weekend, deflation news

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