JCI in Red on Monday Morning
26 January 2015 13:34 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) opened slightly lower by 21.24 points at the start of Monday's trading session, as some market players begin to unload their holdings in the Index to profit from its record-breaking gains on Friday, January 23, 2014.
The JCI slid by 21.24 points or 0.40 percent to commence trading at 5,302.63, while the Top 45 (LQ45) Index dropped by 5.37 points or 0.58 percent to trade at 921.14.
"The JCI is experiencing some negative corrections after having breached its highest position on record on Friday. It's to be expected that some investors chose to unload their shares to make profit out of the situation," said the head of research at Woori Korindo Securities Indonesia, Reza Priyambada, in Jakarta on Monday.
Furthermore, continued Reza, the downtrend across Asian markets is also putting a degree of negative pressure on the JCI, which consequently drives the Index into the red.
That said, added Reza, domestic sentiments were expected to be strong enough to prevent the Index from slipping further into the red under the pressure of external sentiments. The government's commitment to achieving its economic growth target, as well as its promises to inject more capital into several state-owned enterprises (SoEs), are also adding a degree of positive boost to the IDX.
An analyst for Asjaya Indosurya Securities, William Suryawijaya, added that market players would begin to turn toward the financial reports of publicly-traded companies for 2014 as investment references, which were due to be released in the next couple of days.
"As the first month of 2015 draws to a close, market players are waiting for the 2014 financial statements to be released to consolidate their investment stances, that said, there is still some chance for the IDX to rebound," said William.
Meanwhile across Asia, the Hang Seng Index slid by 6.11 points or 0.02 percent to commence trading at 24,844.34, the Nikkei similarly fell by 110.91 points or 0.63 percent to trade at 17,400.06 points, while the Straits Times Index also decreased by 14.05 points or 0.42 percent to start at 3,397.88.
ANTARA
