JCI Continues Slide at Tuesday's Close
9 December 2014 19:32 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) continues to lose ground throughout Tuesday's trading session, before closing weaker by 21.70 points on Tuesday evening, in line with the general downtrend experienced by bourses across Asia.
The JCI slipped further by 21.70 points or 0.42 percent to trade at 5,122.31 points, while the Top 45 (LQ45) Index similarly inched lower by 3.31 points or 0.38 percent to close at 880.91 points.
"The general downtrend experienced by Asian markets on Tuesday is reflected by the IDX's negative movement. This problem is exacerbated by the lack of positive boost from Indonesia's domestic sphere," said an analyst for Quaint Kapital Investama, Kiswoyo Adi Joe.
According to Joe, the IDX is being shadowed by the possibility of a rate hike by the Federal Reserve Bank of America, which may come sooner that experts had initially expected in light of the recovery of the US economy—indicated by its steadily labor and employment figures.
Furthermore, the World Bank's decision to cut its forecast of Indonesian economic growth from 5.6 to 5.2 percent in 2015 is driving investors away from the Indonesian market, particularly foreign investors—many of whom chose to unload their shares amid growing uncertainties about Indonesia's future prospects.
That said, an analyst for HD Capital, Yuganur Wijanarko, said market players could take advantage of falling share prices to accumulate prime shares at lower prices. "Investors should see this negative correction to the IDX as a chance to accumulate shares before the Index rebounds into an uptrend," he said.
Among the shares that investors should keep an eye on are Bumi Serpong Damai (BSDE), Bank Rakyat Indonesia (BBRI), Waskita Karya (WSKT), and Wijaya Karya (WIKA).
IDX records show there were 249,101 transactions throughout Tuesday's trading session, wherein 4.95 billion shares worth Rp3.97 trillion were traded. The shares of 139 companies went up in value, while 164 companies experienced negative corrections, and the shares of 100 companies remained unchanged.
Meanwhile across Asia, the Hang Seng Index slipped by 561.84 points or 2.34 percent to close at 23,485.83 points, the Nikkei similarly dipped by 122.26 points or 0.68 percent to close at 17,813.38 points, while Singapore's Straits Times Index went up by 14.06 points or 0.43 percent to close at 3,311.90 at the end of Tuesday's trading session.
ANTARA
