The Indonesian stock market is expected to consolidate in the coming week after finishing at record highs over the past few days, analysts said Friday.
"There are still chances for the index to rise but it will be overshadowed by profit-taking, mainly because transactions in the market are mostly short-term," said David Ferdinandus of Anugrah Sekurindo Indah. "The market has risen dramatically with record finishes and we can say that it's the best performing bourse in Asia so far this year," he said.
Mining and infrastructure stocks are expected to continue gains while market movers Telkom and Indosat are consolidating, he said.
Sentiment next week would also be affected by a shortened trading week, he said. The market will be closed on Monday and Friday for public holidays.
Comments
Comments are closed.