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JCI weakens by 36.01 points
The Jakarta Composite Index (JCI) weakened on Monday by 36
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The Jakarta Composite Index (JCI) weakened on Monday by 36.01 points, following market expectations that the global economy would slow.
The index was closed at 4,584.21 points, down by 36.01 points or 0.78 percent, during Monday's final trading session while the LQ45 index weakened by 6.92 points (0.90 percent) to 769.77.
'Slower global economic growth has made the stock market concerned following a decline in China manufacturing growth data, which has pushed down regional stock markets, including the JCI,' Trust Securities analyst Yusuf Nugraha said in Jakarta on Monday, as quoted by Antara news agency.
On the domestic side, he said, Indonesia's balance of trade for January 2014 had suffered a deficit again, which was triggered by high oil and gas imports. A nationwide decline in exports was triggered by, among others things, the implementation of a ban on raw mineral exports that had been valid since Jan.12.
However, Yusuf said, February inflation, which stood at 0.26 percent, was still regarded stable.
'Inflation was a little bit higher but was still in line with market expectation. The condition has become a positive factor for the JCI so it was not pushed down further,' he said.
The JCI recorded 180,272 transactions with a volume of 2.89 billion shares worth Rp 3.89 trillion (US$334.54 million). As many as 95 stocks rose during today's trading while 207 stocks weakened and 89 stocks were stagnant.
Among regional markets, the Hang Seng Index weakened by 336.29 points (1.47 percent) to 22,500.67; the Nikkei Index was down by 188.84 points (1.27 percent) to 14,652.23; and the Straits Times Index declined by 26.89 points (0.87 percent) to 3,082.42. (ebf)
