JAKARTA (Thomson Financial) - Indonesian shares are expected to open flat to
higher as investors return from a long weekend to chase select stocks that have
been oversold during the market's recent sharp losses.
The Indonesian market was closed on Thursday and Friday for public holidays.
On Wednesday, the composite index finished down 16.23 points or 0.7 percent
at 2,323.57, off an intraday high of 2,390, and a low of 2,301.72. Volume was
3.16 billion shares worth 5.5 trillion rupiah.
The LQ45 index was down 2.77 points at 498.94.
In early dealings Monday, the rupiah was at 9,185/9,190 to the US dollar,
compared to 9,195/9,200 late Wednesday.
"I see a good chance for the market to go up today. I expect investors to
begin accumulating select stocks that have been oversold," said Paramitra Alfa
Securities analyst Pardomuan Sihombing.
Investors may also target stocks that have reported or are expected to
announce strong earnings for 2007, he said.
(1 US dollar = 9,196 rupiah)
roffie.kurniawan@thomson.com
rk/nt
.
hkp/nt
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