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JCI declines at Monday opening
(illustration: kontan
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(illustration: kontan.co.id) (illustration: kontan.co.id)
(illustration: kontan.co.id)
The Jakarta Composite Index (JCI) declined by 12.76 points at Monday's opening, to 4,442.42, and dropped a further 28.48 points, or 0.64 percent, at 9.20 a.m. to 4,426.69.
Indonesia Stock Exchange (IDX) data showed that 102 stocks had fallen and 58 stocks had increased. The total transaction value reached Rp 452.27 billion with a transaction volume of 530.06 million shares.
Head of research at NH Korindo Securities Indonesia Reza Priyambada predicted the stock benchmark index would hover between a support level of 4,420 to 4,445 and a resistance level of 4,465 to 4,501. If positive sentiments remained limited, the JCI would decline further he said.
"An economic data released at the beginning of the month should provide positive sentiments and ease the weakening," Reza said as quoted by kontan.co.id on Monday in Jakarta.
The rupiah, meanwhile, strengthened against the US dollar in the spot market, to Rp 13,670 at 8.30 a.m., stronger than last week's closing position of 13,684.
A researcher and analyst at PT Fortis Asia Futures, Sri Wahyudi, said that China's manufacturing data would help the rupiah to strengthen further as far as Rp 13,500 against the greenback. (ags)
