TEMPO.CO, Jakarta – The Jakarta Composite Index (JCI) fluctuated throughout yesterday's trade as the majority of regional stock exchanges experienced correction. The rise of external sentiments kept investors cautious, leading the JCI to close 19 points (0.4 percent) lower to 5,205 bps.
Christandhi Reza Mihardja, stock analyst from Sinarmas Sekuritas, said the JCI yesterday was affected by regional bourses' movements. Global investors opted hold from buying stocks in bulk, in wait for the Fed's policy on interest rates.
"Investors are waiting for the release of US' non-farm payrolls data, which will provide a hint on Fed's planned interest rates hike," Chris said yesterday.
From Asia, Bank of Japan's (BoJ) decision not to raise its monetary stimulus by 60-70 trillion Japanese yen also caused investors to become more confident in collecting stocks. The Fed's tapering off, which is predicted to continue, caused investors to worry about a possible capital outflow to America.
Reza suggests market participants to only look at mining stocks such as PTBA and ADRO, due to fluctuations in coal prices that will spur expectations over an exports increase.
Today the JCI is likely to move sideways between 5,165 and 5,232 bps.
MEGEL JEKSON | PDAT