The Euphoria Of The Job Creation Law Triggers The Strengthening Of The JCI Today

JAKARTA - The Jakarta Composite Index (JCI) closed higher on Thursday, October 8 trading. JCI closed up 0.70 percent or 34.82 points to the level of 5,039.14.

Closing the trade, 257 stocks rose, 179 stocks fell, and 165 stocks were stagnant. The trading volume was recorded at 9.84 billion shares with a transaction value of IDR 6.48 trillion.

Binaartha Sekuritas analyst, M, Nafan Aji Gusta Utama assessed that the strengthening of the JCI today was driven by the euphoria of the ratification of the Omnibus Law Bill on Work Creation into Law.

"Apart from that, another factor is the easing of the contraction in retail sales performance in the country. The market also appreciates Powell's statement regarding the need for more aggressive monetary and fiscal stimuli," Nafan told VOI.

Today, foreign investors recorded a net buy with a total value of IDR 49.94 billion in all markets.

The stocks most bought by foreign investors were PT Bank Central Asia Tbk (BBCA) with IDR 96.9 billion, PT Merdeka Copper Gold Tbk (MDKA) IDR 40.7 billion, and PT Astra International Tbk (ASII) IDR 31.5 billion.