JCI Collapses after Jokowi Ministers Inauguration



Laila Afifa

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  • TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) plummeted in the first trading session of Wednesday morning, October 23. The collapse came around the same time with the inauguration of cabinet ministers under President Joko Widodo or Jokowi and Vice President Ma'ruf Amin.

    During the morning session, the index lost 0.42 percent to 6,199.17 with 196 stocks corrected. Throughout the first trading session, the JCI moved between 6,235 and 6,197.

    The tumble caused Rp168.89 billion of foreign net sell in the markets, mainly the negotiation market and cash market with Rp100.48 billion recorded

    Bisnis.com, reported four sectors moving in the negative direction, led by the various industry sector (-1.12 percent) and basic industries (-0.62 percent). Five other sector indices moved within the safe territory, led by mining shares' 0.38-percent gain.

    Meanwhile, Reuters reported that Asian stock markets weakened after the British Parliament refused PM Boris Johnson's suggestion over a schedule to expedite Brexit.