The Jakarta Composite Index (JCI) continued to weaken at Monday'€™s first trading session amid continued negative global sentiments.

The JCI weakened by 94.64 points (2.18 percent) to 4,241.30 while the LQ45 index of the 45 most liquid stocks was down by 28.31 points (4.19 percent) to 696.73.

Universal Broker Indonesia head of research Satrio Utomo said in Jakarta on Monday that market players'€™ worries over China'€™s economic slowdown had led the global stock market to be suppressed to even deeper levels. The fall of the global market also influenced the JCI'€™s movement.

'€œGlobal uncertainties and uncertainties regarding a possible US Federal Reserve fund rate hike are still putting pressure on the JCI. Investors should remain vigilant in their trading,'€ he said as quoted by Antara in Jakarta on Monday.

Satrio said among the stocks considered safest in the midst of the current economic situation were those from the banking, construction and consumption sectors. Nevertheless, he said, the investors should still pay close attention to several sectors before buying.

Samuel Sekuritas analyst Ruliff said that negative sentiments around the JCI had not been helped by uncertainties around the domestic economy and the rupiah exchange rate '€“ which continues to depreciate, now having reached Rp 14,000 per US dollar.

'€œThe continued downward trend of the global index has the potential to push half of investors to hold back on trading,'€ he said.

In regional market, the Hang Seng Index weakened by 854.38 points (3.81 percent) to 21,555.24; the Nikkei Index was down by 479.38 points (2.51 percent) to 19,948.45; and the Straits Times Index weakened by 73.72 points (2.48 percent) to 2,897.48. (ebf)

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