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Jakarta, CNBC Indonesia – A series of negative feelings pressed the negotiation of the national stock market on Wednesday, December 23, 2020 before the long Christmas and New Year holidays (Nataru). The Jakarta Composite Index (JCI) moved volatile in response to these stock market conditions.
As a result, in today’s operations, JCI touched the psychological level below 6,000, at the position of 5,853.26 points to be precise. In fact, at the beginning of the negotiation, JCI moved in the green zone to the level of 6,061.84 points. At 10:27 am, JCI was still immersed in the red zone with a transaction value of Rp.9.89 billion with a frequency of 775 thousand times.
The weakening of JCI was not in line with movements in other Asian stock exchanges, where the Nikkei, Tokyo index rose 0.13%, the Hang Seng, Hong Kong index rose 0.37% and the Shanghai Composite index , Shanghai, appreciated 0.88%. Only JCI and the Straits Times of Singapore fell 0.04%.
Kresna Sekuritas Head of Research Robertus Yanuar Hardy told CNBC Indonesia that there were a number of negative sentiments that suppressed JCI this morning.
First, the negative sentiment in the Asabri case that has returned to the public. The value of the losses is estimated to be higher than that of the Jiwasraya case, which is estimated at 17 billion IDR.
“The Asabri case is also a negative sentiment,” said Robertus Yanuar, on Wednesday (12/23/2020).
On the other hand, the decline in JCI was also caused by the weakening of the Dow Jones and S&P indices in trading on Tuesday. According to Yanuar, JCI’s downfall in the past two days was also triggered by just consolidation after having risen significantly since early November.
However, he said, this decline could be a re-entry opportunity because the outlook for next year is even more positive along with the political certainty of the United States and the implementation of regulations derived from the Job Creation Act.
Meanwhile, PT MNC Sekuritas Head of Research Edwin Sebayang said that on the last trading day of this week, JCI was still overshadowed by selling pressure.
According to Edwin, the decline in JCI was solely due to the strong rise of a good number of stocks that was not comparable and was not supported by the fundamental performance of these stocks. “So it’s natural that JCI has fallen and even fallen,” he said.
MNC Sekuritas estimates that JCI will correct again in line with the Dow Jones index falling -0.67% amid the emergence of a new variant of Covid-19 in the UK, spreading much faster.
“One of the causes of JCI’s decline is market concerns about the new strain of the Corona virus,” he said.
[Gambas:Video CNBC]
(hps / hps)
