Indonesian share prices are set for a rebound in the coming week with investors focusing on selected telecoms and banking stocks seen as undervalued at current levels, analysts said Friday. "I expect a technical rebound to take place next week since some blue chips are already quite low," Mandiri Securities analyst Rafdi Prima told AFP.
For the week ending March 13, the Jakarta Composite index fell 1.21 points to 1,286.69. "Support level will be at 1,270 while resistance is at 1,308," he said. Dealers would also focus on infrastructure and property stocks but transactions would be short-term and speculative in nature, he said. At the close of trade Friday, the rupiah was at 12,070 to the dollar, compared to 12,110 the week before.
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