Jakarta (Benchmark News) – Sinarmas Securities predicts the composite stock price index (IHSG) in trading Thursday (8/12/2016) experiencing reinforcement.
Sinarmas Securities research team presents the prediction along with several positive factors that are expected to sustain the movement today.
The atmosphere at an Office of the securities-Endang Jonathan
From global exchange, the US experienced a strengthening exchanges with the Dow S&P and touched a record high, ahead of ECB’s monetary policy announcement. In addition to the United States, European exchanges, EIDO, the Nikkei and other Asian bourses also experiencing reinforcement.
Of the domestic currency, the exchange rate of the rupiah against the U.S. dollar which is still quite on the level of 13.300 Usd per us dollar, then the fall in 10-year government bond yield of 2.5%, and the fall in the 5-year credit default swap Indonesia amounted to 5.7% will give you an extra sentiment to JCI continued strengthening last week.
“We still recommend stocks that have strong fundamentals LQ45 and corrected because of foreign selling pressure over how last weekend,” said the research.
In addition, the fall in the price of the benchmark CPO, and also coal on this day either Newcastle or Rotterdam, the momentum could be made to Buy on Weakness in stocks of plantation and mining.
It is also in line with the increasing global PMI in November to the highest level for 27 months can be seen as a recovery in the commodity cycle and a sign of upward price trends for long-term reference.
“In a technical, JCI predictable moves in the range of 5,300-5.238 with buy on weakness of stocks LPCK, LPPF, BBRI, and BBTN…(Red)