IHSG News

Selasa, 27 Desember 2011 10.46 WIB

Asian markets closed higher at last Friday’s trading session, two days before Christmas. Many of Asian markets haven’t opened yet the trading session, celebrating the Christmas. The Nikkei, one of operated Asian markets on Monday, finally closed by 1% higher, while Singapore, Hang Seng, and IDX haven’t operated yet. The IDX itself closed at 3,797.15 on last Friday or 0.04% higher than one day before as foreign investors recorded a net buy worth of Rp 182.73 billion. The top five foreign net buy were BHIT, ELTY, STAR, KPIG, and ENRG.

Market Outlook

• European stock market made another positive closing at last Friday’s trading session encouraged by optimism about a global recovery spurred by positive data from US such as US New Home Sales figures per November which was in-line with consensus level. But despite the positive closing, trading volume was only a third of its 90-day daily average.

• Meanwhile US stock market was also closed positively at last Friday’s trading session after investors cited recent improvement in US economic data and seasonal factors behind the move. But many investors were also remain cautious about the whole 2012 outlook as attention may also return to Europe underlying problems afflicting the 17-nation euro zone. The cautious move by investors also can be seen by low holiday-season volume at last Friday’s trading session.

• Low holiday-season volume can also be seen in this morning’s Asian stock market movement which seen lower marked by the lowering Nikkei, Straits Times and Kospi by 0.45%, 0.19% and 0.44% per 08:45 local time as investors in Asia took to the sidelines before US market reopen later in the day.

• We expect IDX tend to move mixed and trapped in the low holiday-season volume at today’s trading session referring to the situation in the global and regional stock market with some indices remained closed for an extended Christmas holiday. We expect IDX to move between support level 3,775-3,787 and resistance level 3,820-3,832.