Indonesia's share prices will remain volatile in the week ahead amid uncertainty over global oil prices and the impact on domestic inflation, but the main index will probably rise, dealers said Friday.
For the week, the Jakarta Stock Exchange composite index fell 84.35 points or 3.2 percent to 2,584.35. Average daily turnover was 3.14 billion shares worth 5.33 trillion rupiah (573 million dollars).
"I think (the market) will still be very volatile as there is so much uncertainty regarding oil prices and the US economy, including on the Indonesian domestic inflation rate," said analyst Lanang Trihardian, from Erdikha Elit.
"We will still see big movement in the index. Overall I think it will still finish stronger," he told AFP, adding that he did not see any domestic factors driving significant movement in the market. Trihardian said investors would likely sstay interested in the mining sector.
"There have been corrections throughout this sector... There have been no changes in their fundamentals but last week we saw a deep correction and I think they will bounce back," he said. Trihardian said he saw the support level of the index sitting at 2,446 points, with resistance at 2,631.
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