All three major US indices closed in the green on (12/08), supported by the health and technology sectors. Market participants began to focus on the possibility of the Federal Reserve’s tapering starting, after inflation data indicated that it had reached a peak. The energy sector still looked depressed after the US asked OPEC countries to increase production.
From the domestic market, JCI was able to rebound from the decline at the beginning of the week, supported by strengthening in 9 of the 11 main sectors. Selling pressure from foreign investors was seen to continue in Bukalapak.com Tbk (BUKA) shares; although there were also buying actions in big caps stocks such as BBCA, UNTR, and TLKM. Towards the end of the week, JCI still has the potential to continue rally with a range of movement at 6,070 – 6,220.
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