Positive sentiments underpin the JCI

JAKARTA: Jakarta Composite Index (JCI) is predicted to move and has potency to stand at the range of 3,900 in this week boosted by the expected deflation in May and the distribution of dividend from several publicly listed companies.An analyst Praska
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 30 Mei 2011  |  00:21 WIB

JAKARTA: Jakarta Composite Index (JCI) is predicted to move and has potency to stand at the range of 3,900 in this week boosted by the expected deflation in May and the distribution of dividend from several publicly listed companies.An analyst Praska Putrantyo at PT Infovesta Utama said that the index has been deeply corrected on May 23. Now the index will rise to reach support level of 3,775 and resistance level of 3,905 on this weeks trading.Positive sentiment from domestic, which is the expected deflation in May 2011 after the decrease of food commodities, dividend distribution from several companies listed in Indonesia Stock Exchange [JCI], he said to Bisnis.Praska said several sentiment mover of JCI in this week including the increase of commodity price, especially energy and metal which is predicted to continue as the weakening trend of US dollar.The fall of US dollar will continue after the release of US economy data in last week which showing the slow recovery of the economy, he said.Differently, Managing Research PT Indosurya Asset Management Reza Priyambada said that the index will limitedly move in this week as the minimum of positive sentiment from domestic.Reza said that currently the investors will focus on inflation during May which is predicted to have a deflation.Bond yieldMeanwhile, government bond yield is predicted to fall during this week, compared to the last week.It is driven by the interest of foreign and local investors who are prefer to choose BI deposit since it looks attractive to buy. European debt crisis has given a negative sentiment for the bondholders of the government bond.Head of Research at PT Recapital Securities Pardomuan Sihombing said that the investors has to watch on emerging markets financial instrument which affected by negative sentiment from the progress of European debt crisis.The concern of European crisis has been flourished since last year, but the impact still exists until now. (t03/wiw)

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