Samuel Sekuritas Indonesia`s analyst Adrianus Bias predicted technical rebound is expected after significant correction on Tuesday.
"A number of banking shares fell on Tuesday on minimum positive sentiments from domestic and global markets," Adrianus said here on Wednesday.
He said the BEI index is expected to move sideways today with resistance at 4,300 points.
The BEI opened trade this morning with index slipping 6.63 points or 0.16 percent to 4,263.02, and the index of 45 mots liquid stocks weakening 0.23 percent to 723.48 points.
Meanwhile, the US market was relatively flat on Tuesday to close lower by 0.1 percent as the market still was waiting for a compromise on the solution to cope with the US fiscal cliff between the Obama administration and the Republican dominated Congress .
President Obama said his government is set to hold on to its plan to raise tax tariffs on high income people to increase fiscal income and to bridge the existing budget deficit.
Asian markets opened trade this morning with share prices lower on minimum positive sentiments from global market. (*)
Editor: Heru Purwanto
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