Home » Business » Lockdown is one of JCI’s weighted sentiments for the next week

Lockdown is one of JCI’s weighted sentiments for the next week

ILLUSTRATION. Even though it has been depressed by 2.24% in the past week, JCI will still continue to weaken next week.

Reporter: Kenia Intan | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. Last week, September 21-25, 2020, the Composite Stock Price Index (IHSG) move weaker. Just so you know, at the close of trading on Friday (25/9), the JCI was at the level of 4,945.79. This level is lower than the previous week’s JCI closing at the level of 5,059.22, Friday (18/9).

Even though the JCI has been depressed 2.24% in the past week, Hans Kwee, Director of Anugrah Mega Investama, predicts the JCI will continue to weaken in the next week.

Hans observed that the increase in Covid-19 cases occurring in many countries was a negative sentiment for the market. Fears of a second wave of Covid-19 have prompted several countries in Europe such as Britain, Germany and France to implement new restrictions.

The Spanish government recommends implementation lockdown in the city of Madrid after cases surpassed the 700,000 mark. This number is the highest in Western European countries.

“Plan lockdown plus less fiscal support, and reduced liquidity will weigh on the performance of the fourth quarter of various countries, “said Hans in a research received by Kontan.co.id, Sunday (27/9).

Also Read: The development of the Covid-19 vaccine has the potential to raise IHSG

Hans added, apart from countries in Europe, the increase in cases in the United States (US), especially in the Midwest, is also worrying because it is the highest compared to other regions in the US.

As for domestic, the extension of PSBB tightening in the DKI Jakarta area is also a negative sentiment. Although the strict PSBB is only enforced in the capital city of Jakarta, Jakarta has contributed greatly to the Indonesian economy. Thus, the extension of the PSBB tightening has the opportunity to suppress economic conditions.

Next week, the stock exchange is predicted to continue the pressure. JCI is expected to strengthen at the beginning of the week then tend to weaken eventually. “JCI is moving with levels support at 4,820 to 4,754 and resistance at the level of 4,978 to 5,187 with a tendency to weaken in the next week, “said Hans.

Also Read: JCI has the opportunity to continue strengthening on Monday (28/9)

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