Phillip Securities: European Influence TRADE On Negative Sentiment
In yesterday's trading was unable to continue the TRADE on the positive trend in the previous two days, TRADE on the close of trading yesterday on level 3, 906.264 or decrease of 0.08% or $ 1,157 points, although foreign investors made net buy big enough. Two-tier stocks it yesterday, is still in the hunt for stocks that valuasinya are still cheap it's been going on since two days ago. Unfortunately, the action take profit directly going after these stocks go up high. Meanwhile the LQ 45 is also experiencing a decrease of 0.08% or decrease of 0.154 points and stops at level 691.688. As many as six sector closed negative while the rest are in positive zone at the close of trading yesterday, sector – a sector that affects the decline in TRADE is the financial sector (-0.59%) followed by the agricultural sector with rectified minus 0.48% of the last is the mining sector with negative correction of 0.39%. In the meantime the European crisis so the conversation back to making TRADE and Asian exchanges get negative effects. It can be seen when a TRADE couldn't do much against negative sentiment from European and Asian exchanges ended with just leaving negative Exchange Japan is capable of sticking with a rise of 0.46%. In yesterday's trading foreign investors made net buy Rp 567.087 billion and a market that has been accompanied by regular notes trade amounting to INR 3.21 trillion. In the meantime, issuers – issuers that make TRADE not being able to withstand the onslaught of negative sentiment is ITMG, GGRM, AALI, BYAN, and ISAT and stocks that TRADE on the decline put a halt to such DLTA, UNVR, SQBI, INTP, and ASII.
U.S. exchanges rebounding late in the session pushed by the banking sector, which is supported by economic data are better than expected and investors see more potential for growth could offset the loan AS the debt crisis concerns the European zone.
Data on Thursday indicated a strengthening US economy. More than twice the amount expected from the private sector employment grew in December while initial jobless claims down 15,000 in the last week. In addition, the rate of growth of the services the U.S. speed up more than expected in December.
We estimate a limited TRADE would be corrected today, as negative sentiment of the French Treasury bond auction results surpassed the positive sentiment from us economic data. We expect the level of support and resistance TRADE will be at 3,875 and 3,925.
Technical Pick:
LPCK (1,910) – Buy Spec.
AKRA (3,300) – Buy Spec.
ITMG (39,850) – SELL
JSMR (4,450) – HOLD
