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ILLUSTRATION. JCI fell 2.31% to the level of 6,023.29 today.
Reporter: Nur Qolbi | Editor: Wahyu T. Rahmawati
KONTAN.CO.ID – JAKARTA. President Joko Widodo (Jokowi) and Vice President Ma’ruf Amin introduced six new ministers to the Advanced Indonesia Cabinet on Tuesday (12/22). As is well known, two ministers in his cabinet, namely the Minister of Marine Affairs and Fisheries and the Minister of Social Affairs, have encountered corruption cases.
As his successor, Jokowi appointed Tri Rismaharini as Minister of Social Affairs and Sakti Wahyu Trenggono as Minister of Maritime Affairs and Fisheries. He also introduced other new ministers, namely Sandiaga Uno as Minister of Tourism and Creative Economy replacing Wishnutama, Budi Gunadi Sadikin as Minister of Health replacing Terawan Agus Putranto, Yaqut Cholil Qoumas as Minister of Religion replacing Fachrul Razi and Muhammad Luthfi as Minister of Commerce replacing Agus Suparmanto.
In line with that, the Composite Stock Price Index (IHSG) today fell 2.31% to the level of 6,023.29. A total of 397 stocks fell, 123 rose and 111 stagnated. This drop was driven by shares in the infrastructure sector which fell 3.84% and the mining sector which fell 3.39%.
Still, Trimegah Sekuritas Head of Research Sebastian Tobing assessed that the change of ministers had no effect on the JCI movement. According to him, only changes that occur in the post of the Minister of Finance that can directly affect market movements are related to budgetary and fiscal policies.
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Sebastian sees that the biggest influence on the current JCI movement is the development of the Covid-19 pandemic, such as the number of daily global positive cases and emergency shutdown happening in several countries. Artha Sekuritas analyst Dennies Christoper Jordan added that the JCI movement is now overshadowed by fears of a new mutation of the virus and an increase in Covid-19 cases in several countries.
NH Korindo Sekuritas research director Anggaraksa Arismunandar also assessed that the furniture reorganization would not have much effect on the stock market movement. The reason is that there are several feelings that are more dominant. “For example, the development of the Covid-19 pandemic, which is currently being concerned about the emergence of a new variant, the US stimulus package agreement and the phenomenon of window dressing at the end of the year, “Anggaraksa said when contacted by Kontan.co.id on Tuesday (12/22).
Anggaraksa predicts that, in the short term, JCI will correct first by level support for at 5,950 and resistance at 6,175. This potential for correction is in line with the emergence of concerns about the emergence of a new variant of Covid-19 accompanied by the implementation of policies. emergency shutdown in various parts of the world.
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Also, almost all of the positive sentiment has been reflected in JCI. (price in) at present. Therefore, according to him, investors with a long-term orientation can take advantage of the moment of correction to continue making accumulated purchases of shares with good fundamentals.
Meanwhile, Sebastian estimates that JCI by the end of the year will be in the 6,000 to 6,200 range. “JCI can take it to the next level when the distribution of the vaccine is clear,” he said. When the distribution is clear, predict that JCI could hit the 6,300-6,500 level.
Read also: JCI fell 2.31% on Tuesday (12/22), foreigners posted a net sale of IDR 338 billion
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