Gauging from the global and domestic sentiments, the IHSG is likely to witness sideways movement, with an upward trend, during today's trade.Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) opened higher on Tuesday morning prior to the government's announcement on the August 2020 trade balance later on in the day.
The index of the Indonesian Stock Exchange (BEI) rose 7.42 points, or 0.14 percent, to reach 5,169.25, while the index of the 45 most liquid stocks (LQ45) increased 2.09 points, or 0.26 percent, to touch 807.21.
"Gauging from the global and domestic sentiments, the IHSG is likely to witness sideways movement, with an upward trend, during today's trade," Phintraco Sekuritas research team noted in a report on Tuesday.
The Wall Street ended higher overnight, fueled by gains in tech stocks, with the Dow Jones rising 1.18 percent, S&P 500 gaining 1.27 percent, and Nasdaq increasing 1.87 percent.
On the domestic front, investors are awaiting the government's announcement on the country's trade balance in August 2020 that is projected to record another surplus.
The market will also observe the handling of COVID-19 cases in Indonesia following total re-imposition of large-scale social restrictions (PSBB), effective since Monday (Sept 14) in Jakarta.
On account of the aforementioned sentiments, investors may observe that banking stocks, such as the BBNI, BMRI, and BBRI, will potentially strengthen during Tuesday's trade and lead to the purchase of stocks.
The shares of coal mining companies, including ADRO and PTBA, will also attract investors. The rising coal futures prices may also lend a positive sentiment to the mining stocks.
In regional markets on Tuesday morning, the Nikkei Index tumbled 182.15 points, or 0.77 percent, to 23,377.15; the Hang Seng Index rose 26.59 points, or 0.11 percent, to 24,666.87; and the Straits Times Index gained 12.86 points, or 0.52 percent, to reach 2,495.41.
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Translator: Citro Atmoko/Suharto
Editor: Sri Haryati
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