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Economy in brief: JCI down by 0.30% at closing
The Jakarta Composite Index (JCI) weakened during Thursdayâs closing in line with the movement of other stock markets in Asia
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he Jakarta Composite Index (JCI) weakened during Thursday's closing 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 sustain 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 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. He predicted that selling actions would cease as market players selectively carried out buying actions again after the index corrected over the last two days.
