Rabu, 28 Desember 2011 09.50 WIB
Asian markets closed lower on thin volume transaction following long weekend holiday session. Hang Seng and Kuala Lumpur were still close on Tuesday, continuing their Christmas holiday. Nikkei and Kospi spotted as the top looser on that day. Nikkei closed down by 0.46% and Kospi by 0.79%. The IDX itself was traded at very low volume and had touched 3,757.53 after finally closed at 3,789.43 or 0.2% lower than Friday’s trading session. Foreign investors were still collecting IDX shares with total net buy of Rp 106.85 billion.
Market Outlook
• European stock market closed relatively flat with DAX and CAC 40 closed gaining slightly by 0.18% and 0.03% while FTSE 100 still closed for a bank holiday at yesterday’s trading session. Italian banks falling sharply at yesterday’s trading session on sovereign debt fears as tensions ahead of an Italian bond auction tomorrow pushed up yields weighing on local lenders which hold a large share of the country’s debt.
• Meanwhile US stock market also ended flat with Dow Jones closed slightly lower by 0.02% while Nasdaq and S&P 500 closed gaining slightly by 0.25% and 0.01% in a thin, lackluster session. Investors in US seem to choose to took a breather following a strong rally in the previous week. They also still keeping an eye on euro zone progress and US retail sales as a day off on last Monday sent many Americans out, with shops relying on bargains to lure shoppers.
• Asian stock market at this morning’s opening trading session eventually seen mixed in thin post-holiday trade influenced by the sideways trend on global stock market. This morning Nikkei and Straits Times seen flat by +0.02% and –0.03% while Hang Seng and Kospi seen lower by 0.43% and 0.91% per 08:45 local time.
• We expect IDX will still be trapped in sideways trend at today’s trading session with trading volume will also remain thin referring to the similar situation in global and regional stock market. We expect IDX to move between support level 3,749-3,762 and resistance level 3,797-3,811.
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