JCI Opens in the Green on Monday`s Start
31 August 2015 13:30 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX0 went slightly up by 0.80 points or 0.01 percent to commence trading at 4,447.00 points at the start of Monday's trading session - while the Top 45 (LQ45) Index similarly went slightly up by 0.20 points or 0.03 percent to begin trading at 757.27 points.
According to the Lead Researcher for Universal Broker Indonesia, Satrio Utomo, the IDX movement is still overshadowed by the US Federal Reserve's plans to raise its Fund rate in September. "The Fed's Deputy Chairman, Stanley Fischer, remains optimistic that the Fed will raise its rate in September - sending Asian share markets tumbling as a result," he said.
Furthermore, Satrio continued, the Fed is slated to hold its next Federal Open Market Committee (FOMC) in September 16 to 17, which will increase the volatility of the Index's movements. Investors are advised to remain vigilant over sudden changes that might occur ahead of the FOMC meetings.
A technical analyst for Mandiri Sekuritas, Fath Aliansyah Budiman expects that the Index will be prone to corrections and fluctuations for the next couple of days. "Movements could be seen in the mining and agribusiness sector, as West Texas Intermediate (WTI) prices have climbed up by 6.34 percent," said Fath.
Meanwhile across Asia, the Hang Seng Index slipped by 41.99 points or 0.19 percent to open at 21,570.40 points, the Nikkei similarly went down by 178.18 points or 0.93 percent to commence trading at 18,958.14 points, while the Straits Times Index inched lower by 2.31 points or 0.12 percent to conclude trading at 2,952.02 points.
ANTARA