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JCI rallies slightly at Tuesday's close
(Illustration: Thejakartapost
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(Illustration: Thejakartapost.com/Wienda Parwitasari) (Illustration: Thejakartapost.com/Wienda Parwitasari)
(Illustration: Thejakartapost.com/Wienda Parwitasari)
The Jakarta Composite Index (JCI) found it difficult to rally significantly by Tuesday's close as foreign investors kept selling shares. The index rose only 4.31 points (0.09 percent) to 4,545.73 while the index of the 45 most liquid stocks (LQ45) increased 0.77 points (0.1 percent) to 781.32.
An analyst at Investa Saran Mandiri, Kiswoyo Adi Joe, said investors most likely reconsidered the potential of a Federal Reserve rate increase, which was previously expected in December, as some US economic data had yet to show sustainable growth.
'Some released data such as existing home sales and the manufacturing index showed that US economic recovery has yet to prove sustainable. This situation put pressure on the JCI, limiting the rally,' he said as quoted by Antara news agency on Tuesday.
Under such circumstances, he further explained, foreign investors continued dumping stock. They recorded net sales of Rp 326.13 billion (US$23.82 million) during the day while domestic investors bought stocks in regard to the rally.
In regional markets, the Nikkei Index was up 0.23 percent and the Straits Times Index rose 0.75 percent while the Hang Seng declined 0.35 percent.
The Indonesia Stock Exchange (IDX) recorded 182,062 transactions involving 2.42 billion shares totaling Rp 2.97 trillion. At least 114 stocks increased, 152 stocks decreased and the remainder 102 stayed unchanged. (ags)
