JCI Expected to Remain Weak

TEMPO.CO, Jakarta – The Jakarta Composite Index (JCI) is expected to remain corrected in today’s trade, November 15. MNC Securities analyst Edwin Sebayang said the stock exchange is still likely to see foreign investors selling until week ten.

On yesterday’s trade closing, the IDX saw a foreign net sale of a Rp11.46 trillion.

“Foreign net buy is down 29.11% from its highest point to Rp27.91 trillion,” Edwin said on Tuesday, November 15.

The domestic market, he said, is overshadowed by the religious-political sentiments from Ahok’s case, which would be announced this Friday, November 18.

Another negative sentiment is the decline of commodity prices, such as EIDO (4.46 percent), oil (3.4 percent), gold (2.52 percent), nickel (2.86 percent, and tin (0.49 percent).

“The JCI is expected to be corrected to below 5,200,” he said, projecting the index to perch in the support range of 5,180 to 5,265.