JCI Opens Trade with 4.90-bps Climb

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  • Bursa Efek Indonesia (BEI) Jakarta. TEMPO/Eko Siswono Toyudho

    Bursa Efek Indonesia (BEI) Jakarta. TEMPO/Eko Siswono Toyudho

    TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) opened trade with a 4.90-bps gain (0.10 percent) to 4,801.65 on Friday morning, August 7, at the Indonesia Stock Exchange (IDX).

    Meanwhile, the LQ45 slipped 1.25 bps (0.15 percent) to 817.63.

    Alfiansyah, chief researcher at Valbury Asia Securities, said the array of negative sentiments, both globally and domestically, are still the main factor motivating investors to sell—eventually pushing the index down.

    "Global investors are still focusing on the declining commodity prices, which had corrected stock prices from the energy sector," he said told Antara.

    Internally, investors are still concerned about Indonesia's slowing economy as of the second quarter as well as the current account deficit.

    "The domestic sentiment will affect the rupiah exchange rate and eventually impacting the capital market," he said.

    Meanwhile, Universal Broker Indonesia research chief Satrio Utomo said that the regional stock market is experiencing a consolidation phase. As it happens amid a weakened global economy, the condition serves as an additional hurdle for Indonesia's stock market movements.  

    "Investors should wait before making major decisions, as the [Federal Reserve] will announce their interest rate policy soon. It seems that the market will still be filled with turbulences," said Satrio.

    In Asia, the index Hang Seng Index gained 173.75 points (0.71 percent) to 24,549.03; the Nikkei index fell 51.30 points (0.25 percent) to 20,613.14 levels; while the KOSPI index lost 2.11 points (0.09 percent) to 2,011.41.

    ANTARA | RR