JCI under Deficit Pressure

  • Font:
  • Ukuran Font: - +
  • TEMPO.CO, Jakarta – Asia-Pacific bourses including the Jakarta Composite Index (JCI) fell under pressure last week. For the beginning of this week, OSO Securities analyst Muhammad Alfi Shahr predicted the same for the index.

    Most among market participants believe that July's trade balance will note a deficit of up to US$ 427 million. "Negative expectations on the trade balance keep the JCI under pressure," he said.

    The pessimism prompted foreign investors let go of their stock ownership since the end of last week. There is also the negative sentiment from pro-Russian separatists' efforts to wrest the eastern region of Ukraine.

    With the lack of positive sentiment, the JCI is expected to move sideways in a limited range of 5,115-5,165 bps today. However, Alfi said there is a slight opportunity for buys on shares with valuations that are starting to decline.

    PDAT | MEGEL JEKSON