ILLUSTRATION. Cleaning workers pass in front of the screen of the Jakarta Composite Stock Price Index (IHSG) movement on the Indonesia Stock Exchange, Jakarta, Friday (25/9/2020).
Reporter: Kenia Intan | Editor: I knew Laoli
KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) moving in the green zone on today’s trading, Monday (5/10). JCI closed up 32.04 points or 0.65% to 4,958.77 levels.
Quoting data from the Indonesia Stock Exchange (IDX), the sector that experienced the most significant increase was the consumer goods sector by 1.33%. Followed by the financial sector by 1.19%. After that, there were basic industrial and chemical sectors which eroded 0.98%.
Artha Sekuritas Indonesia analyst Dennies Chritoper Jordan observed, JCI was able to close higher despite the lack of sentiment from economic data. As for the sentiment that greened the JCI today, the news of the condition of the President of the United States (US) Donald Trump has begun to improve.
In addition to sentiment regarding Donald Trump, MNC Sekuritas analyst Aqil Triyadi added, the strengthening of the JCI today was driven by Asian bourses, which majority strengthened. Quoting data from the Indonesia Stock Exchange (IDX), only the Philippines PSEi eroded 1.01% today.
Also Read: Observe the prediction for the direction of the JCI until the end of the following year
Although the JCI has managed to turn green, Aqil sees the strengthening tends to be wait and see the development of the Job Creation Law. On the other hand, market players are waiting for the conditions for the development of the plans for the labor strike which will start tomorrow Tuesday through Thursday.
For trading tomorrow Tuesday (6/10), Aqil estimates that JCI will continue to strengthen. However, the strengthening tends to be limited because market players still see the development of the Covid-19 vaccine amid the sentiment of the Ciptaker Bill.
The union’s strike action plan is another consideration. Market players are also waiting for the release of the Indonesian Consumer Confidence Index data
“If it is still able to move above 4,820 to 4,900, we estimate that the JCI tomorrow will still have the opportunity to strengthen to test the 5,000 to 5,100 level,” Aqil explained to Kontan.co.id, Monday (5/10).
Also Read: Wall Street rose on hopes of new US stimulus
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