Various negative sentiments made investors decide to engage in profit taking today (23/05). As Indonesia's main stock index (IHSG) had already reached the overbought area, it is highly susceptible of profit taking in case some negative news is released. But this time there were quite a lot of matters that made a negative impact: weak American indices on Wednesday (22/05) responding to the FOMC meeting, a spike in Japan's government bond yields, and Chinese manufacturing data that seems to indicate a contraction.

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American stock indices that refrained from staying in the green zone at the end of Monday's trading session (20/05/13) made market participants less enthusiastic to invest in Asian stocks. Indonesia's main stock index (IHSG) was one of the indices that felt this impact as a lack of positive sentiments blocked it from rising to another record high level. Investors were also concerned about profit taking because the index had reached the overbought level. When European indices opened weak on Tuesday it increased downward pressures on the IHSG.

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The pace of the upward movement of Indonesia's main stock index (IHSG) was beyond expectation. While American and European stock indices were weak on Thursday (16/05/13) and Hong Kong's HSI as well as South Korea's KOSPI were closed due to holidays, it did not bring a negative impact on the IHSG. Particularly consumer and coal miner stocks supported the IHSG's rise. At the end of Friday's trading day (17/05/13), the IHSG hit a new record high level: 5,154.68 points, an 1.32 percent increase.

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Positive American and European stock indices on Tuesday (14/05/13) made a good impact on Asian stock indices on Wednesday (15/05/13), including Indonesia's main index (IHSG) which is heading towards the 5,100 points line. Although many foreign investors were eager to sell their Indonesian assets, support from other Asian stock indices kept the IHSG within the green zone. At the end of the trading day, it stood at 5,089.88 points, a 0.16 percent rise.

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On Tuesday (14/05/13), Indonesia's main stock index (IHSG) rose supported by positive Asian stock indices in the first trading session. But this pillar of support did not last for long as the Asian stock indices weakened afterwards, which impacted on the performance of the IHSG. Pressures of profit taking remained as the IHSG is still near its record high level but foreign investors - being net buyers of Indonesian stocks - helped to offset profit taking, resulting in a 0.54 percent gain to 5,081.94 points.

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The Indonesia Stock Exchange (IHSG) rebounded after receiving support from positive American stock markets due to a fall in US jobless claims. American stock markets also influenced most other Asian stock markets in a positive way. Despite the fact that most foreign investors engaged in profit taking by selling Indonesian assets, the IHSG managed to gain 0.69 percent to the level of 4,819.32. Trade volume decreased, while total value of transactions rose.

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