Profit Taking Corrects JCI  

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  • Bursa Efek Indonesia, Jakarta. TEMPO/Tony Hartawan

    Bursa Efek Indonesia, Jakarta. TEMPO/Tony Hartawan

    TEMPO.CO, Jakarta - The over pricing of most stocks became investors' main reason to profit take, pressing the Jakarta Composite Index (JCI) throughout Tuesday's (Nov. 24) trade.

    After edging up to 5,149 bps, the index closed 22.82 points (0.44 percent) down to 5,118.95 bps.

    Muhammad Al'Amin, an analyst with Millennium Danatama Sekuritas, said the index was indeed corrected by profit taking. With stock prices technically too high, investors did not waste any chance to reap profits.

    "Property and mining stocks, which have gone up in the past two days, were the most sold," he said.

    For today, Amin suggests selective buying as profit taking is expected to still happen. He projected the JCI to move within a week range of 5,091 to 5,168 bps.