IHSG News

Kamis, 29 Desember 2011 10.30 WIB

Asian markets fell in Wednesday trading session. Asian markets traded on thin volume, as holiday effect was still sorely. Nikkei, Straits Times, Hang Seng, and Kospi simultaneously accounted negative return on Wednesday, however none fell by more than 1%. The IDX itself closed at 3,769.214 or 0.53% lower than Tuesday. The foreign investors was still recording a net buy, yet in a small amount of Rp 27.39 billion. KAEF, WINS, and BKSL spotted as one of the top gainers on Wednesday. KAEF up by 15%, WINS by 7.94%, and BKSL by 6%.

Market Outlook

• European stock market ended lower at yesterday’s trading session with DAX and CAC 40 ended lower by 2.01% and 1.03% while FTSE 100 ended flat –0.10% with another low volume trading condition despite positive sentiment coming from a debt auction in Italy as short-term debt yields halved from 6.5% to 3.25%. Investors in the region seem still in jittery feeling as 10-year Italian bond yields came back above 7% ahead of an auction of longer-term debt that will take place later today, unaffected by the positive Italian short-term debt auction yesterday.

• US stock market also made negative closing at last night’s trading session as Dow Jones, Nasdaq and S&P 500 closed lower by more than 1% with investors remained on the sidelines amid what is expected to be a light news week. Investors keep their focus on euro zone as they were disappointed by ECB report that showed European banks deposited a record $85 billion with the central bank. This news also made euro tumbled near a one-year low against the greenback.

• Asian stock market eventually trapped in negative zone at this morning’s opening trading session triggered by investors’ worry about a bigger Italian bond auction later today despite the positive Italian short-term bond auction yesterday and liquidity concerns in the euro zone after Euro zone banks had deposited a record amount of cash at the ECB. This morning Nikkei, Hang Seng, Straits Times and Kospi seen lower by 0.73%, 0.88%, 0.16% and 0.09% per 08:45 local time.

• We expect IDX to move lower at today’s trading session referring to the potential low trading volume and renewed debt and liquidity concerns in the euro zone which made global and regional stock market trapped in negative zone. We expect IDX to move between support level 3,734-3,746 and resistance level 3,779-3,790.