JCI Down as Market Fears Second Wave of Covid-19 Outbreak
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12 May 2020 21:13 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) closed Tuesday's first trade session with 1.24 percent correction to 4,639.10. The index fell along with other Asian stock markets that weakened over investors' fear of a second wave of Covid-19 outbreaks.
The JCI went straight to the red zone since trade opened, declining throughout the rest of the day near its lowest level of 4,580.68.
Binaartha Sekuritas analyst Nafan Aji Gusta said the index, as well as other Asian stock markets, are affected by investors' concern over a second wave of coronavirus infections. This is a hard turn after last week's positive sentiments when lockdown easing in several nations stimulate markets' expectations that the world's economy will recover.
Nafan said markets concerned "after the WHO warned countries that lifting lockdowns will bring new cases of Covid-19,” Nafan told Bisnis.com, Tuesday, May 12.
From the domestic side, Indonesia's stock markets are affected by the declining performance of the retail sales sector in March by -4.5 percent.
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