JCI Likely Corrected over Trade Deficit Potential



Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) is expected to remain corrected on today's trade, June 24. Analyst said that the index is likely to weaken over lack of positive domestic sentiments.

     "The domestic factors include the potential for trade deficit in May," Binaartha Sekuritas analyst Muhammad Nafan Aji Gusta told Tempo on Monday.

    From the external side, there are the global economic slowdown, uncertainties from the protracted US-China trade negotiations, "and the ongoing US-China trade war," Nafan added.

    Read: JCI Drops 1.24 Percent over Rupiah Depreciation

    On Friday, the JCI closed 0.32 percent down to 6,315.437 but still managed to record foreign net buys amounting to Rp366.16 miliar.

    Meanwhile, Indosurya Bersinar Sekuritas director William Surya Wijaya said the JCI is still in moving at a normal phase of consolidation. Today, he predicts the index to move between 6,257 and 6,488.