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JCI weakens to 4,412.45 at Tuesday's close
The Jakarta Composite Index (JCI) dropped to a new low during Tuesdayâs final trading session as investors undertook profit-taking measures in anticipation of better economic conditions
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he Jakarta Composite Index (JCI) dropped to a new low during Tuesday's final trading session as investors undertook profit-taking measures in anticipation of better economic conditions.
The JCI dropped by 97.14 points, or 2.15 percent, to 4,412.45 on Tuesday afternoon, while the index of the 45 most liquid stocks, known as LQ45, slipped by 21.83 points (2.83 percent) to 748.97.
'The JCI experienced correction again, but it was still within the normal range,' Asjaya Indosurya Securities analyst William Surya Wijaya told Antara news agency.
He predicted that there was a possibility that the index would go up following the positive economic data on the country's inflation rate published by the Central Statistics Agency (BPS) today.
BPS reported that the inflation rate for August stood at 0.39 percent, the lowest in the past six months, with the year-on-year inflation rate reaching 7.18 percent.
Citing BPS's inflation figure, William expected that the index would reach 4,579 soon.
On Tuesday, the Indonesia Stock Exchange (IDX) recorded 195,568 transactions with a volume of 3.05 billion shares worth Rp 3.16 trillion (US$224.6 million). As many as 87 stocks increased while 217 others weakened and 68 remained stagnant.
In regional markets, the Hang Seng Index dropped by 485.15 points (2.24 percent) to 21,185.43, the Nikkei Index weakened by 724.79 points (3.84 percent) to 18,165.69 and the Straits Times Index was down by 38.67 points (1.32 percent) to 2,882.77. (ika)
