Indonesian share prices are expected to trade mixed to higher in the coming week amid positive sentiment following the central Bank Indonesia's rate cut decision, dealers said Friday.
"For next week, the trend is going to be mixed to higher with a slight chance of technical rebound as investors see the rate cut as positive news," said Budi Ruseno from Bhakti Capital Securities.
He said the market may test resistance at 1,350 points, with support seen at 1,335.
Sumarmo Harjosumarto, an analyst with Indomitra Securities, said investors.
would resume their focus on trading on Monday after the finals of the World Cup.
"I expect that trading volume will pick up again next week as investors will no longer be distracted by the World Cup and speculation about companies' first-half results is likely to emerge," he said.
Ruseno said next week's trading would mostly be short-term and investors would focus on major stocks such as telecom firm Telkom and Indosat as well as Bank Central Asia and Bank Mandiri.
"There is not yet a strong trigger that can move the market dramatically, so trading will mostly be on short terms," he added.
For the week ending July 7, the Jakarta Stock Exchange composite index closed up 37.642 points or 2.8 percent to 1,347.905. Average daily volume was 1.201 billion shares worth 1.521 trillion rupiah (166.23 million dollars).
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