Despite Risks of Profit Taking, the IHSG Keeps Moving Upwards
After experiencing various sentiments as well as profit taking, the Indonesia Stock Exchange (IHSG) eventually ended higher today than it had closed on Friday. During the trading day, however, it looked like it would end negatively for a while. Mixed Asian stock indices and fears of decline after the IHSG had reached record highs, made the index vulnerable. But due to strong purchases by foreigners and the impact of the positive openings of European stock indices, the IHSG booked a small gain.
During the trading day, the IHSG reached its highest level (4518.95) at the start of session one and its lowest level (4469.92) just before the end of session two. When the market closed, it was on the level of 4490.57, implying a 0.20 percent growth compared to Friday.
On Tuesday, profit taking by market participants is still a threat. Perhaps profit taking can be prevented if tomorrow's publication regarding Indonesia's gross domestic product is well received by market players.
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