JCI Jumps after Jokowi Wins Election
23 July 2014 18:34 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) opened today with a significant rise of 5,138. Achmad Kurniawan Sudjatmiko, an analyst at PT Pemeringkat Efek Indonesia, explained the hike ensued from the euphoria of Jokowi's winning the presidential race. “If the JCI dropped later, it was because of profit mechanism,” he said.
Achmad said the JCI dropped yesterday following Prabowo's statement rejecting the ongoing electoral process carried out by the General Elections Commission (KPU).
Achmad also seconded legal experts’ opinions that Jokowi's legitimate victory—despite Prabowo’s refusal—has put the JCI in the green zone.
Achmad was upbeat that despite Prabowo’s camp’s planning on taking the electoral case to the Constitutional Court (MK), the market was unlikely to be affected.
The JCI fluctuation, he added, stemmed from the relatively expensive shares, which caused traders to be extremely careful.
HERMAWAN SETYANTO