JCI Weakens over Trade War Fear
8 March 2019 13:08 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) opened weak this morning, March 8 at the Indonesia Stock Exchange (IDX). The index weakened as investors fear possibilities of the trade war spreading.
The JCI opened lower by 0.28 percent to 6,439.84. Meanwhile, the LQ45 Index fell 0.44 percent to 1,004.86.
Valbury Securities chief researcher Alfiansyah said investors had been quite optimistic about the upcoming profit reports, but the sentiment is limited by concerns that the United States will impose tariffs on other countries.
"The external sentiment can be burdensome for the JCI to advance to positive territory today," Alfiansyah said on Friday, March 8.
After President Donald Trump decided to abolish the imposition of preferential tariffs for India and Turkey, the US seemed intent on expanding trade wars. Meanwhile, Asian countries such as Indonesia and Thailand work behind the scenes to avoid a similar fate.
Until 09:15 a.m., the JCI was still in the red zone after falling 0.42 percent to 6,430.65. The LQ45 index slipped 0.42 percent to 1,005.1.