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JCI down 0.4% at Friday's close
The Jakarta Composite Index (JCI) had dropped 0
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T
he Jakarta Composite Index (JCI) had dropped 0.4 percent to 4,415.34 at close on Friday as investors sold shares amid a lack of positive sentiments from both local and global markets.
Meanwhile, the index of the 45 most liquid shares (LQ45) slid 3.32 points to 749.84.
'Some investors are tending to 'wait and see' before selling their assets due to a lack of positive sentiment,' Investa Saran Mandiri analyst Kiswoyo Adi Joe told Antara news agency.
Kiswoyo said that investors were waiting for the US Federal Reserve's decision to raise their interest rate, adding that such a decision would ease the volatility of currencies in developing countries, including the rupiah.
'A decrease in the volatility of the rupiah will reduce the market's concern over companies' performance,' he said.
Universal Broker Indonesia head of research Satrio Utomo said that some investors had preferred to hold cash than invest in the stock market due to market uncertainties.
'Technically, the JCI is still above its psychological level. However, several main shares are below this level, triggering investors to hold off from buying,' he said.
The market today recorded 202,141 transactions with a volume of 3.62 billion shares trading hands at a total cost of Rp 3.75 trillion (US$262.5 million). A total of 115 stocks strengthened, 174 weakened and 87 stocks remained unchanged.
In regional markets, the Hang Seng Index weakened by 94.33 points (0.45 percent) to 20,840.61, the Nikkei Index dropped 390.23 points (2.15 percent) to 17,792.16 while the Straits Times Index fell 42.62 points (1.47 percent) to 2,863.81. (ika)
