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JCI drops 0.25 percent Wednesday afternoon
The Jakarta Composite Index (JCI) weakened slightly during Wednesdayâs final trading session as foreign investors sold stakes
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The Jakarta Composite Index (JCI) weakened slightly during Wednesday's final trading session as foreign investors sold stakes.
The JCI weakened by 11.16 points or 0.25 percent to 4,401.29. Meanwhile, the index of 45 most liquid shares (LQ45) also dropped by 2.87 points or 0.38 percent to 746.10.
HD Capital analysts Yuganur Wijanarko told Antara news agency that the selling spree was triggered by the depreciation of the rupiah and the weakening of regional stock markets.
Meanwhile, Universal Broker Indonesia head of research Satrio Utomo said that today's drop was triggered by the fact that the number of foreign investors selling shares outnumbered the number of local investors buying shares.
'Pressure from foreign investors is more aggressive compared to the previous day,' he said.
On Wednesday, the Indonesia Stock Market (IDX) recorded a foreign net sell of Rp 553 billion (US$39.1 million), higher than Tuesday's figure of Rp 232.6 billion.
The market also recorded 202,141 transactions with a volume of 3.65 billion shares worth Rp 3.75 trillion. As many as 115 stocks strengthened, 174 weakened and 87 stocks remained unchanged.
In regional markets, the Hang Seng Index weakened 250.49 points (1.18 percent) to 20,934.94, the Nikkei Index dropped 70.29 points (0.39 percent) to 18,095.69 while the Straits Times Index slipped 4.64 points (0.16 percent) to 2,878.13. (ika)
