Analyst Purwoko Sartono said the movements of the BEI index are still determined by budget talks between President Barack Obama and the US parliament.Jakarta (ANTARA News) - The Index of the Indonesian Stock Exchange (BEI) is forecast to be mixed but tends to rise to 4,300-4,340 points in Tuesday`s trading.
The BEI index fell on Monday to close 0.86 percent lower at 4.313.44 points with transactions valued at Rp4.88 trillion and foreign net sales at regular market reaching Rp249.81 billion.
Panin Sekuritas` analyst Purwoko Sartono said the movements of the BEI index are still determined by budget talks between President Barack Obama and the US parliament.
The talks had tended to lead to positive direction and factory output and retail sales of China in October was higher than expectation and exports in October hit a record high since May 2012 giving positive sentiment.
"Currently many observers are bullish with the Chinese economy believing Chinese economy is bottoming up," Purwoko said here on Tuesday.
He said the fall of the BEI index on Monday was triggered by selling action prompted by accumulation of regional market decline during the long holidays last week.
Chief researcher of e-Trading Securities Bertrand Raynaldi said mixed sentiment with positive tendency would continue in Tuesday`s trading with support level at 4,256 points and resistance level at 4,365.
Technically, consolidation of the BEI index will continue that technical rebound is expected today. Bertrand said.(*)
Editor: Heru Purwanto
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