Jakarta (Benchmark News) – Sinarmas Securities predicts the composite stock price index (IHSG) moves mixed with a tendency to weaken trading on Tuesday (13/12/2016).
Sinarmas Securities research team presents the prediction correction in line with the global index that await the announcement of the Fed Funds Rate on Thursday early morning. The market will be prone to profit-taking and took the position of wait and see awaits statement guidance that will be presented by Janet Yellen at the FOMC meeting this month, in which the movement of the US dollar index will depend from the statement of Janet Yellen.
He predicts the US dollar likely to move sideways with a reinforcement in limited depreciation of major currencies over the last few months (Euro, Japanese Yen, and the Australian dollar). Now, there’s a possibility the rupiah from the side of the resistance in line with the expectations of an influx of funds from a Tax Amnesty program of repatriation.
In terms of commodities, 11 countries are members of OPEC have agreed to lower the rate of world oil production of more than 500,000 barrels per day of supply restrictions, in which it will give positive sentiment towards the world oil prices and also shares in the oil and gas sector.
“For the trading session today, we still recommend the coal sector (ADRO, PTBA, UNTR) along with a continuation of the underlying price rebound Newcastle (1.6%) and Rotterdam (2.7%),” it said in the research.
As for the other sectors Sinarmas Securities recommends to take the position of wait and see awaits results of the FOMC’s meeting Thursdaymorning.
“In a technical, JCI predictable moves in the range of 5245-5.330 with buy on weakness IT shares, INDF, TELE, and BWPT….(Red)