JAKARTA: After Moody's upgraded Indonesia's bond rating, Jakarta Composite Index (JCI), Indonesia's benchmark stock index, in fact weakened 0.94% to 3,535.73, led by banking and mining stocks. Today, the index may potentially rebound after three-day correction. Please monitor shares such as ASII, HRUM, ICBP, UNVR, TLKM, BLTA, BUMI, BMRI and INDF.Erdika Sekuritas projected the index to swing around 3,505-3,568, after all sectors weakened yesterday, except consumer and infrastructure that rose by 0.19% and 0.37%, respectively. Reliance Securities, meanwhile, sees a potential for the index to continue to weaken and fluctuate around 3,516-3,573, tailing the slump at all Asian markets due to concern on inflation-targeting policy to slow down the economy. The securities company suggests buying ASII, HRUM, ICBP and BMRI. e-Trading Securities indicated a technical correction three days before the index weakened. The foreign net sell reached IDR100 billion. Today the stock index may fluctuate between 3,525-3,620. It recommends buying BUMI, BMRI and INDF. (NOM)
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