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JCI weakens by 23.51 points
The Jakarta Composite Index (JCI) on Wednesday weakened by 23
Change Size
The Jakarta Composite Index (JCI) on Wednesday weakened by 23.51 points, following movements on Asian stock markets.
The index opened at 4,680.71, down by 23.51 points or 0.50 percent, during Wednesday's first trading session. Meanwhile, the LQ45 index, which represents lists of the 45 most liquid stocks, weakened by 6.09 points (0.77 percent) to 782.87.
'Negative sentiments from Asian markets affected the JCI; however, it is predicted that the index's correction potentials will not likely be deeper as it will be balanced with positive factors from the domestic side,' Valbury Asia Securities head of research Alfiansyah in Jakarta on Wednesday, as quoted by Antara.
He further said that positive sentiments domestically were due to Indonesia's macroeconomic fundamentals as it was regarded as a country with a relatively stable economy that had grown by about 6 percent.
Alfiansyah said that in the midst of ongoing domestic problems and global crisis pressures, the economy did not fluctuated too much.
Meanwhile, Samuel Sekuritas analyst Yualdo Yudoprawiro said the weakening of Asian stock markets this morning was triggered by worries over China's economy as it had seen corporate bond default.
'Markets are anticipating data on China's retail sales as well as industrial production statistics, which will be released on Thursday. The data will also tell us about China's economic development,' Yualdo said.
In regional markets, the Hang Seng Index weakened by 302.78 points (1.36 percent) to 21,966.83; the Nikkei Index was down by 328.72 points (2.16 percent) to 14,895.39 and the Straits Times Index weakened by 23.48 points (0.78 percent) to 3,105.92. (ebf)
