Indonesian share prices were expected to fluctuate increasingly next week as the market remains volatile but with an upwards bias due to regional sentiment, dealers said on Friday.
"The market will fluctuate early next week, but the trend will remain upwards," Lanang Trihardian from Erdhika Elit told AFP. He said the current technical correction is acceptable after the market hit several all time highs in the past few weeks.
The market was closed for a three-day break since Thursday last week for the Eid-al Fitr holidays marking the end of the Muslim fasting month of Ramazan.
Regionally, fears of a slowdown in the US economy ahead of the country's consumer confidence and GDP announcements next week could ripple negative sentiment, said Trihardian.
For the week ending October 19, the Jakarta Stock Exchange composite index dropped 74.46 points or 2.82 percent to finish at 2,563.75. The daily average volume was 4.68 billion shares valued at 6.53 trillion rupiah (718.37 million dollars). Trihardian said the market might face resistance at 2,661 points, but had a support level at 2,474.
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