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5/4/11

Depressed Banking, JCI Down Bottom Up in 3800?

Indonesia Stock ExchangeImage via Wikipedia

By: Erland Djumena
JAKARTA - Composite Stock Price Index at the beginning of the Indonesia Stock Exchange on Thursday (5/5/201)am moving in the red zone. JCI back down 3800.

Up at 9:40, the index fell 0.54 percent or 20.41 points to 3794.513.The banking sector led the index slump 1.54 percent by the turn of the nine sectors in red. While the plantation sector is the onlypositive.

In trading yesterday, the index managed to close in the positive area, after wallowing in the red zone. The increase was driven byforeign investor buying. However, research analyst PurwokoSartono Panin Securities, saw the index remains in profit-takingpressure (take profits) through the post-3800 levels.

"Banking stocks were targeted by investors selling. The weakeningcrude oil prices also dragged down commodity-based stocks. Today we expect the index to move to fluctuate with a range of support-resistance 3802-3825," he explained.
source: kompas.com

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