Why is the JCI difficult to penetrate 5,000? Turns out this is the culprit

Jakarta, CNBC Indonesia – Market players think that the Omnibus Law still has not had a significant impact on the stock market.

Investors still have not included the Omnibus Law or the Work Creation Law (UU Ciptaker) which was passed last Monday as a positive long-term catalyst for the domestic stock market.

This is reflected in the movement of the Jakarta Composite Index (IHSG) which is currently still moving steady at the psychological level of 4,900 – 5,000. In today’s trading, the JCI was even corrected to a level below 4,974 points.

At the close of the first session, this Wednesday (7/10), trade data noted that the JCI closed at minus 0.63% at the level of Rp 4,967. Even though the JCI level had touched 5.014 in the trading range since morning.

The recorded transaction value reached Rp. 13.73 trillion (due to negotiable transactions) with 146 shares rising, 235 shares falling and 167 stocks stagnant. The JCI seems to be far from this year’s highest level of 6,325 at the beginning of the year before the pandemic entered Indonesia.

Even today, foreigners came out of IDR 346.95 billion in the regular market, and coupled with the negotiable and cash market, the foreign net sell reached IDR 1.94 trillion in session I. Year to date, foreigners left IDR 61 trillion in the regular market.

Senior Vice President Research Kanaka Hita Solvera, Janson Nasrial argues, even though the Omnibus Law has been passed into law by the parliament and received reactions from various groups, the Job Creation Law has indeed become a breakthrough in the last 20 years in terms of legislation to facilitate incoming investment. to Indonesia.

“JCI has not factored into the long-term impact of the Omnibus Law, [meski[ ini merupakan achievement luar biasa dalam 20 taun terakhir,” katanya dalam wawancara dengan CNBC Indonesia, Rabu (7/10/2020).

Janson mengakui, beberapa pasal dalam Omnibus Law memang cenderung menguntungkan pengusaha.

Namun di sisi lain, saat pandemi seperti ini pengusaha juga menghadapi berbagai risiko turunan (downside risk) seperti kondisi makro ekonomi, daya saing pekerja Indonesia yang masih kalah dengan negara-negara ASEAN lainnya.

Saat ini, menurut Janson pergerakan IHSG masih terdampak dari katalis eksternal.

Terbaru, Presiden AS Donald Trump yang menyatakan telah menginstruksikan untuk menghentikan perundingan dengan kubu Demokrat terkait stimulus tambahan. Inilah yang membuat bursa Wall Street terkoreksi.

Dia memperkirakan, hari ini IHSG akan melaju pada rentang 5.000 sampai 5.050 poin.

“IHSG tetap merah lebih karena faktor eksternal,” tuturnya.

Dari global, Presiden Amerika Serikat (AS) Donald Trump menyetop pembicaraan tentang rencana stimulus baru, hingga pemilihan presiden selesai dilakukan.

AS tengah memasuki ‘pesta politik’ dan bakal melakukan pemilu presiden 3 November nanti.

“Saya menginstruksikan perwakilan untuk berhenti bernegosiasi sampai setelah pemilihan,” tulisnya di Twitter pribadinya @realDonaldTrump, Selasa (6/10/2020) sore waktu setempat.

Keputusan ini membuat bursa AS, Wall Street, tiba-tiba ambles pada penutupan perdagangan Selasa kemarin (Rabu pagi waktu Indonesia). Indeks Dow Jones Industrial Average turun 1,34% menjadi 27.772,76.

Sedangkan indeks S&P turun 1,40% di level 3.360 dan Nasdaq minus 1,57% di posisi 11.154.

Pengamat AS dari National Securities, Art Hogan, dikutip CNBC, mengatakan langkah Trump bukan sesuatu yang disukai pasar. Hal ini seiring dengan saham-saham emiten teknologi seperti Apple, Amazon, dan Facebook turun hingga lebih dari 2%, sedangkan maskapai penerbangan- yang sangat mengharap stimulus untuk menunda PHK, sahamnya merosot 3%.

[Gambas:Video CNBC]

(bag bag)

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