JCI Resumes Uptrend as Foreign Capital Returns

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  • Ilustrasi Indeks Harga Saham Gabungan (IHSG). ANTARA/Puspa Perwitasari

    Ilustrasi Indeks Harga Saham Gabungan (IHSG). ANTARA/Puspa Perwitasari

    TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange went up by 32.54 points at the end of Tuesday's trading session, as foreign capital begins to return into the domestic market.

    The JCI closed higher by 32.54 points or 0.61 percent to close at 5,320.90 points at the end of the session, while the Top 45 (LQ45) Index similarly went up by 6.83 points or 0.74 percent to conclude trading at 927.75 points.

    "Foreign investments are trickling back into the JCI - driving its' uptrend throughout Tuesday's session,"said the Head of Research for Universal Broker Indonesia, Satrio Utomo in Jakarta.

    According to JCI's records, foreign investors booked a foreign net purchase totaling Rp132.537 billion at the end of Tuesday's session.

    That said, added Satrio, the Index's uptrend is predicted to only remain for a short while, especially considering the Dow Jones is on a negative track - a situation which could negatively impact trading across Asia.

    Technically speaking, according to Satrio, the JCI could possibly dip below 5,300 points - that said, the Index is likely to rebound beyond its'current level following the depreciation.

    An analyst for Asjaya Indosurya Securities, William Surya Wijaya, added that the JCI's is set to breach its'current resistance level - currently set at around 5,369 points - in the very near future. Once it happens, the JCI is expected to soar to new heights in a relatively short period.

    "The JCI is expected to hover at between 5,271-5,369 points on Wednesday, with a real chance of a further uptrend," said William.

    JCI records show that on Tuesday, there were 182,381 transactions wherein 4,52 billion shares worth Rp 6 trillion were traded.

    Meanwhile across Asia, the Hang Seng Index went up by 256.03 points or 0.92 percent to close at 28,249.86 points, the Nikkei inched up by 23.71 points or 0.12 percent to conclude trading at 20,437.48 points, while the Straits Times Index closed lower by 0.87 points or 0.03 percent to end trading at 3,459.98 points.