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JCI Stumbles on Rupiah Correction

16 September 2014 17:06 WIB

Peresmian penerbitan uang NKRI pecahan seratus ribu rupiah di Gedung Bank Indonesia, Jakarta, 18 Agustus 2014. Pemberlakuan uang NKRI semakin perkuat fungsi rupiah sebagai simbol kedaulatan Indonesia. TEMPO/Dian Triyuli Handoko

TEMPO.CO, Jakarta – The Jakarta Composite Index (JCI) yesterday edged up 1.19 points (0.02 percent) to close at 5,144.90 bps. A relatively quiet floor saw a transaction value of Rp4.6 trillion with foreign net sales reaching Rp570 billion.

First Asia Capital analyst Ivan Kurniawan said the rupiah correction against the greenback limited the index from gaining. Investors, particularly foreign ones, opted to sell their shares portfolio to buy the dollar, which strengthened against major currencies like the euro and the yen—causing sell-off in regional stock markets.

Ivan said Indonesia's economic fundamentals are still slow. Coupled with the current account deficits, the condition raises an alarm for foreign investors to exit at any given time. Since the beginning of this year, the index gain has been supported by political expectations as opposed to economic fundamentals. "Indonesia is prone to experience a reverse flow of hot money," he said

Today the JCI is expected to move in the range of 5120-5180 bps with a horizontal trend. Investors are advised to avoid stocks affected by the rupiah correction such as banking, construction, retail, and consumers. Recommended stocks are those from sectors that benefited from the correction, including CPO shares and several listed mining companies'.

PDAT | M. AZHAR



JCI Strengthens Amid Inaugural Vaccination

13 Januari 2021

JCI Strengthens Amid Inaugural Vaccination

The Jakarta Composite Index (JCI) on Wednesday closed strong at trade's first session amidst the inaugural Covid-19 vaccination in Indonesia.


JCI Climbs as President Jokowi Announces Free Vaccines

16 Desember 2020

JCI Climbs as President Jokowi Announces Free Vaccines

The Jakarta Composite Index (JCI), climbed by nearly 2 percent to 6098.64 in session two of today's trade, December 16.


JCI Closes Up after Bank Indonesia Rate Cut

19 November 2020

JCI Closes Up after Bank Indonesia Rate Cut

The JCI climbed 0.66 percent to close the day at 5,594.06.


DPRD Member Backs PSBB; Prioritizing Health Above Others

10 September 2020

DPRD Member Backs PSBB; Prioritizing Health Above Others

DPRD member Andyka. S openly supported the decision taken by Jakarta Governor Anies Baswedan who will impose the PSBB.


Jakarta Index Closes High over Good News on Covid-19 Vaccine

14 Juli 2020

Jakarta Index Closes High over Good News on Covid-19 Vaccine

At the Indonesia Stock Exchange (IDX), the index climbed over good news on the progress of the Covid-19 vaccine.


JCI Down as Market Fears Second Wave of Covid-19 Outbreak

12 Mei 2020

JCI Down as Market Fears Second Wave of Covid-19 Outbreak

The Jakarta Composite Index (JCI) closed Tuesday's first trade session with 1.24 percent correction to 4,639.10.


JCI Climbs after BI Announces Meeting Results

14 April 2020

JCI Climbs after BI Announces Meeting Results

The JCI climbed after Bank Indonesia board of governors meeting decided to lower minimum statutory reserves.


JCI Collapses after Jokowi Ministers Inauguration

23 Oktober 2019

JCI Collapses after Jokowi Ministers Inauguration

Throughout the first trading session, the JCI moved between 6,235 and 6,197.


JCI Likely Corrected over Trade Deficit Potential

24 Juni 2019

JCI Likely Corrected over Trade Deficit Potential

The Jakarta Composite Index (JCI) is expected to remain corrected on today's trade, June 24.


Capital Market Investors Unaffected by May 22 Rally

24 Mei 2019

Capital Market Investors Unaffected by May 22 Rally

The protest-turned-riot on May 22 had not affected investors in the capital market.