TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

JCI under pressure amid forced selling, economic uncertainty

  • Norman Harsono

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, February 1, 2021   /  04:24 pm
The Jakarta Post Image
The Indonesia Stock Exchange (IDX) logo is seen in front of a giant screen that displays the movement of stock prices in Jakarta on March 13, 2020.(JP/Seto Wardhana)

The Jakarta Composite Index (JCI) is expected to remain volatile this week, following a wave of forced stock selling and lingering global uncertainty related to COVID-19 that led to a five-day decline streak last week. The Indonesia Stock Exchange’s (IDX) main gauge fell by 2.04 percent not long after the market’s opening on Monday, before rebounding and increasing by 3.5 percent to 6,067.54 at Tuesday closing. It has lost 3.05 percent of its value in a week, according to IDX data. Analysts attributed the JCI’s 7 percent decline last week to securities firms force-selling stocks, as some new investors struggled to pay back the firms after suffering losses on their shares. The trend piled added to existing pressure from uncertainties related to COVID-19. “Securities force sold stocks, which pressured the JCI. This led to several listed ...