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JCI slips 0.22% in closing trade
The Jakarta Composite Index (JCI) closed on a negative note in Tuesdayâs final trading session because newly inaugurated President Joko âJokowiâ Widodo had yet to announce the formation of his Cabinet
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he Jakarta Composite Index (JCI) closed on a negative note in Tuesday's final trading session because newly inaugurated President Joko 'Jokowi' Widodo had yet to announce the formation of his Cabinet.
The JCI slipped by 0.22 percent to 5,029.34 by 4 p.m. on Tuesday, while shares of the blue-chip companies weakened by 0.19 percent to 853.43.
"The relative effect of political euphoria was gone during the closing session, since market players were waiting for the formation of the new Cabinet,' Valbury Asia Securities head of research Alfiansyah said, as quoted by Antara news agency.
On the other hand, he said the players were anticipating the financial report announcements from publicly listed companies.
In addition to that, externally the limited increase of the Wall Street index during Monday's trading affected the JCI in Tuesday's closing session.
Separately, HD Capital analyst Yuganur Wijanarko predicted that the JCI could reach 5,126 points in the near future.
Indonesian Stock Exchange (IDX) data showed that the final trading session involved 2.95 billion shares in 173,046 transactions with a total value of Rp 3.62 trillion (US$300.46 million).
The data also showed that 134 stocks strengthened, while 174 stocks weakened and 96 stocks were stable.
In the regional markets, Hong Kong's Hang Seng and Singapore's Straits Times climbed by 0.08 percent and 0.54 percent respectively.
Meanwhile, Japan's Nikkei dropped by 2.03 percent to 14,804.28 in the closing trading. (nfo)(+++)
