JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened lower 0.4% at 5298 this morning while regional markets were mostly up.
Nymex’s crude oil fell 1.1% to US$61.30 per barrel in Asian trading this morning while gold rose 0.1% to US$1,204 per ounce.
Bank Rakyat Indonesia lost 1.4%, Bank Danamon declined 1.27%, Bank Mandiri dropped 2.2%, Bank Tabungan Negara fell 1.64%, Gudang Garam shed 1.4%, Vale Indonesia slashed 1.73%, and Semen Baturaja down 1.1%.
While Bumi Resources gained 1.1%, Lippo Karawaci rose 1.1%, Japfa Comfeed jumped 4.8%, Media Nusantara Citra hiked 1.17%, Nirvana Development lifted 1.83%, Multipolar gained 1.34%, and Bumi Resources Minerals rose 1.34%.
IDX is expected to move on consolidation mood this week and tends to lower as investors might opt to take profits in local stocks after their recent gains. While market sentiment is likely to negative in the absences of positive devlopments on domestic and regional markets. The index tends to trade lower for seasonal reason ahead of the Ramadhan (Lebaran) day in the mid of June.
Some economic data will be released this week such as Japan’s balance of trade, imports, exports, BoJ monetary policy meeting minutes, and retail sales, South Korea’s manufacturing production and retail sales, G7 finance minister’s meeting, and US’ GDP growth rate.