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Jakarta Post

JCI to continue bullish trend until Q1 2021: Analysts

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Thu, November 26, 2020   /  03:02 pm
The Jakarta Post Image
A security officer stands near a bull statue at the Indonesia Stock Exchange (IDX) building in Jakarta on March 4. (Antara/Aprillio Akbar )

Indonesia’s stock market is expected to continue its bullish trend until early next year, supported by cheap stock valuations, low inflation and positive sentiments from both the domestic and global economies, analysts say. The Jakarta Composite Index (JCI) has gained more than 25 percent in the last six months and around 11 percent in the past month following a slew of positive sentiments both from inside and outside the country, erasing some of the deep losses recorded during market crashes in March and April. The index lost 9.85 percent of its value so far this year, the third-best performer in the region. The JCI has increased 0.7 percent to stand at 5,718.72 as of 12:12 p.m. Jakarta time on Thursday. “The [JCI] uptrend will continue at least into the first quarter of 2021 as valuations are still reasonable compared to the five-year historical trend,” Aberd...