JCI Closed Stronger, Even Though BCA Shares For Foreign Sale Up To IDR 863 Billion

JAKARTA - The Composite Stock Price Index (IHSG) managed to close the weekend in the green zone even though foreign investors' selling action was quite large or nearly touched IDR1 trillion.

JCI on Friday, September 18, closed up 0.41 percent or 20.82 points to the level of 5,059.23. In closing the trade, 253 stocks rose, 166 stocks fell, and 171 stocks remained unchanged.

The transaction volume was recorded at 12.52 million shares and a transaction value of IDR 9.78 trillion with a net sell of foreign investors of IDR 999.09 billion.

PT Bank Central Asia Tbk (BBCA) shares became the most sold by foreigners with a net sell of IDR868 billion.

BBCA's shares also fell 625 points or 2.17 percent to IDR28,150. Its market capitalization also eased towards IDR694.04 trillion.

Binaartha Sekuritas analyst, M. Nafan Aji Gusta Utama, said that today the market appreciates BI's policy more to maintain the benchmark interest rate at 4 percent.

"The market also considers that the implementation of large-scale social restrictions by the DKI Jakarta Provincial Government is still running conducive," he explained.