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Jakarta Post

Window dressing, hopes of vaccine push JCI back to 6,000

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Tue, December 15, 2020   /  08:35 am
The Jakarta Post Image
A security officer stands near a bull statue and a giant screen displaying stocks movement at the Indonesia Stock Exchange (IDX) building in Jakarta on April 3. (Antara/Aprillio Akbar )

Investors’ optimism for a better economy following the creation of COVID-19 vaccines has bounced the Jakarta Composite Index (JCI) back to a psychological benchmark of 6,000 on Monday, after a deep market rout earlier this year. The main gauge of the Indonesia Stock Exchange (IDX) concluded its trading at 6,012.52 on Monday or 1.25 percent higher than Friday’s closing, shaving off some of the index losses to 4.56 percent since the beginning of the year. Stocks of privately owned Bank Central Asia (BCA), cigarettemaker PT HM Sampoerna and technology and media company PT Elang Mahkota Teknologi led the JCI's surge on Monday. “The invention of the COVID-19 vaccines supported the market’s bullish movement on hopes of a better economic situation next year,” Artha Sekuritas vice president Frederik Rasali told The Jakarta Post via text message on Monda...