JCI Closes in the Red on Monday Evening

TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went down by 21.35 points at the end of the first trading session of the week as investors are unloading their holdings into the domestic market.

The JCI slipped by 21.35 points or 0.45 percent to conclude trading at 4,748.94 points, and the Top 45 (LQ45) Index similarly ended lower by 3.54 points or 0.44 percent to end trading at 807.90 points.

"The general downtrend experienced by economies across the globe has driven indexes from around the world - including the IDX - into the red," said the Head of Research for NH Korindo Securities, Reza Priyambada, in Jakarta on Monday, August 10, 2015. "This has driven investors to unload their shares as a buffer against further losses."

According to IDX records, foreign investors booked a net sell totalling Rp 114.376 billion.

According to Reza, the situation is worsened by disappointing manufacturing figures from across several developed economies.

An analyst for Asjaya Indosurya Securities, William Surya Wijaya, said that the pressure on the IDX is beginning to subside, as domestic investors are becoming more upbeat of the government's capacity to maximise the absorption of its' budget by constructing infrastructure projects.

"For the time being, the JCI will flatline with a tendency for a downtrend - that said, chances for a technical uptrend remain wide open, especially when the government finishes its' infrastructure projects," said William.

According to IDX records, there were 145,646 transactions throughout Monday's trading session, wherein 2.97 billion shares worth Rp 2.63 trillion were traded.

Meanwhile across Asia, the Hang Seng Index slipped by 31.35 points or 0.13 percent to close trading at 24,521.12 points, the Nikkei went up by 84.13 points or 0.41 percent to conclude trading at 20,808.69 points, while the KOSPI Index similarly went down by 7.06 points or 0.5 percent to end trading at 2,003.17 points.

ANTARANEWS