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JCI weakens by 1.87 points to 5,516 at opening
The Jakarta Composite Index (JCI) weakened by 1
Change Size
The Jakarta Composite Index (JCI) weakened by 1.87 points or 0.03 percent to 5,516.79 in Wednesday's first trading session.
Meanwhile, the 45-most liquid stocks (LQ45) index also fell by 0.47 points (0.05 percent) to 961.45.
NH Korindo Securities Indonesia chief researcher Reza Priyambada said that after hitting the highest point, the JCI weakened but still in limited range, due to strong and positive expectations on the inflation rate and trade balance scheduled to be announced later on Wednesday.
"The way the investors buy stocks is still well-managed so that it is expected to curb deeper pressure. There is positive sentiment from the appreciation of the rupiah exchange rate," Reza said as quoted by Antara news agency.
He predicted that the possibility for the JCI to strengthen again remained open, but economic data to be released should be closely monitored because if it was not in line with expectations it had the potential to pull back.
Chief researcher at Valbury Asia Securities Alfiansyah said that the JCI movement was hindered by negative sentiment from the regional markets, where the Wall Street index was closed lower in line with economic data released in the first quarter.
The JCI would likely further decline on Wednesday, he said, on fading sentiment with regard to the financial reports. (hhr)
