JCI Weakens over Coronavirus Fear

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Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) opened Monday's trade with a correction. The JCI weakened over investors' fear of widening spread of the coronavirus.

    The index opened 0.05 percent down at 6,240.82, with the LQ45 corrected 0.08 percent to 1,024.65.

    Valbury Sekuritas' chief researcher Alfiansyah predicted that the stock market will react negatively over the impact of the coronavirus outbreak on the global economy. This will in turn affect the JCI, Antara reported.

    "The global market's estimated pressure from the coronavirus fear will likely drag the JCI down this week," he said. 

    Market players have their eyes on the virus' development after the World Health Organization (WHO) declared emergency in China. The coronavirus has killed more than 40 and infected at least 800 people. 

    The deadly virus has traveled to a number of Asian nations including Singapore, Japan, Taiwan, Taiwan, South Korea, Malaysia, Nepal, Thailand, Hong Kong, Macau, and Vietnam. A case was also found in the United States.

    Around Asia, stock markets are also corrected, including the Nikkei (-1.65%).The Hang Seng and Straits Times are not trading today because of the Lunar New Year holidays.

    ANTARA