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JCI down by 0.30% at closing
The Jakarta Composite Index (JCI) weakened during Thursdayâs final trading session in line with the movement of other stock markets in Asia
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he Jakarta Composite Index (JCI) weakened during Thursday's final trading session in line with the movement of other stock markets in Asia.
The JCI dropped by 15.98 points, or 0.30 percent, to 5,237.40, while the index of the 45-most liquid stocks (LQ45) declined by 2.70 points (0.30 percent) to 910.22.
Universal Broker Indonesia head of research Satrio Utomo said the domestic stock market backtracked after briefly strengthening during the first trading session this morning.
He said the JCI was not yet strong enough to maintain a positive position following the movement of the majority of external stock markets, which suffered depreciations.
'The Hang Seng Index, which corrected quite deeply, influenced stock markets in Asia, including the JCI,' said Satrio.
On the other side, foreign stock market players who returned to their stock-selling positions added negative sentiments to the Indonesian Stock Market (IDX), he said.
The IDX recorded that foreign market players booked a foreign net sell of Rp 482.88 billion (US$36.69 million) on Thursday.
Meanwhile, HD Capital analyst Yuganur Wijanarko predicted that during the weekend's trading on Friday, the JCI had the potential to appreciate. It was predicted that selling actions would cease as market players selectively carried out buying actions again after the index corrected over the last two days.
'The JCI's corrections have given the market players an opportunity to re-enter. Technically, the index can go to the upper limit of 5,335 points,' said Yuganur.
On Thursday's trading session, the IDX recorded 230,082 transactions with a volume of 3.42 billion shares worth Rp 3.90 trillion. As many as 104 stocks strengthened and 164 stocks declined, while 123 stocks remained stagnant.
In regional markets, the Hang Seng Index weakened by 626.90 points (2.23 percent) to the level of 27,454.31, the Nikkei Index increased by 78.88 points (0.39 percent) to 20,551.46, while the Straits Times weakened by 7.17 points (0.21 percent) to 3,417.77. (ebf)(+++)
