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Jakarta Post

JCI drops 1.15% in early trading on Friday

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, August 31, 2018   /   11:10 am
JCI drops 1.15% in early trading on Friday The trading floor of the Indonesia Stock Exchange (IDX). (JP/Wienda Parwitasari)

The Jakarta Composite Index (JCI) dropped 67 points or 1.15 percent to 5,951.55 at 9:10 a.m. on Friday as all groups of stocks dropped to the red zone.

Seven of the 10 sectors weakened more than 1 percent, while the diversified industry sector was corrected up to 2 percent, kontan.co.id reports.

It further weakened as on Thursday, the JCI decreased 0.76 percent when the trading was closed sparked by profit-taking and rupiah-weakening.

Analysts say the JCI weakening was caused by pressure on the global bourses due to the worsening trade war between the United States and China.

Last night, the Argentine central bank increased its reference rate by 60 percent to help the peso's exchange rate, which dropped 24 percent against the US dollar in August.

Meanwhile, the Nikkei index dropped 0.14 percent, Hong Kong’s Hang Seng index dropped 1.39 percent, the Shanghai index dropped 0.54 percent and Australia’s ASX index dropped 0.19 percent. (bbn)  

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