During today's trading day, the IHSG reached its highest level (4514.87) in the middle of session one and its lowest level (4493.96) just before pre-closing. At the end of trading, it stood at 4503.15. Trade volume was up and total value of transactions was down. Foreign investors mostly bought Indonesian stocks, while domestic investors mostly sold these assets.

Rupiah movement showed limited decline as it was influenced by Italian politics and by the perception that foreign inflows to Indonesia had not reached high amounts yet. Previously, the rupiah had gained, affected by a strengthening of the Euro and the Chinese Renminbi ahead of the European Union meeting and the meetings of the Bank of England (BOE) and the European Central Bank (ECB). Market participants estimate that the ECB will continue its low benchmark interest rate of 0.75 percent, and that the BOE will keep it at 0.5 percent. Moreover, another matter people are anticipating is a statement of the President of the ECB, Mario Draghi, related to the euro zone's economic outlook after its currency strengthened, and whether this reinforcement is considered alarming.

For tomorrow, it is estimated that the IHSG is mixed amid selling pressures, but may show a small gain again because during the two days ahead of Imlek (Chinese new year) the IHSG normally shows a gain.

When writing this column, European stock markets were mixed, probably due to the 'wait-and-see' attitude towards results of the European Union meeting and statements of the ECB regarding the economic outlook. On the other hand, market participants respond positive towards the performance of Vodafone Group Plc and Credit Suisse Group AS. The Dow Jones will probably also be mixed ahead of publications of jobless claims and consumer confidence. If those surveys show good results, it will give a boost to the American stock indices and affect the IHSG positively tomorrow.

Top Movers – Thursday 7 February 2013

  Company    Change  
• ATPK Resources
• Lionmesh Prima    20.00%
• Apac Citra Centertex    17.39%
• Bank ICB Bumiputera    10.96%
  Company    Change
• Centrin Online
• Unggul Indah Cahaya    12.50%