Jakarta, CNBC Indonesia – Composite Stock Price Index (JCI) through May 2021 with corrections. What is the proverb sell on May and go away proven in the stock market of the country?
Throughout May 2021, the JCI weakened 0.8% point-to-point. Starting the month at 5,995.62, the JCI ended at 5,947.46.
Last month’s trading was relatively short at 18 days. This is because there are quite a number of holidays from Eid to Vesak.
In April 2021, the JCI was able to slightly strengthen 0.17% on a basis point-to-point. At that time, there were 22 trading days so the JCI had more time to strengthen.
In the United States (US) stock exchange, there is an idiom sell on May and go away. Usually the selling pressure is so high in May each year that it gives rise to the phrase.
How about in Indonesia? Does the JCI correction in May this year prove that this is also the case here?
Well, apparently not too. In May 2020, the JCI was able to record an increase of 0.79% point-to-point. In May 2019 there was an internal correction of 3.81%, in May 2018 it was also minus but only slightly at 0.18%, but in May 2017 there was an increase of 1.1%.
Then in May 2016, the JCI recorded a correction of 0.24%. However, in May a year earlier there was a significant increase of 2.55%. The JCI also went green in May 2014 with an increase of 1.11%.
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