Foreign Net Buy at Rp2.26tn
15 October 2015 09:30 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) rose 381.54 bps (9.07 percent) last week, along with the rupiah's strong gain to Rp13,411 per US dollar. Waterfront Securities analyst Oktavianus Marbun said that the rupiah correction has is attracting investors to stock portfolios.
Last week's speculations of the Fed Rate hike plan delay prompted investors to buy. By the end of the week, foreign investors have accumulated a net buy of Rp2.263 trillion.
Stocks from sectors that are directly benefited by the government's economic policy packages such as banking, various industries, and manufacturing are gaining in prices.
Oktavianus said that the government's decision to lower subsidized fuel prices and electricity rates and expanded the reach for people's credit have created optimisms over issuers' performance for the last quarter of this year.
To maintain profit prospects, investors are advised to sell on strength. The significant price gains over the past week, Oktavianus said, will provide ample return for short-traders.
Oktavianus also added that once the JCI penetrates its resistance level of around 4619, investors will have a better opportunity to accumulate stocks.
PDAT | MEGEL JEKSON