Green JCI This Week, Impacts Of Phase One China-US Trade Agreement

JAKARTA - The trading data for this week was closed positively as seen from the movement of the Jakarta Composite Index (IHSG), which strengthened by 0.27 percent to 6,291.657 from 6,274,941 at the close of trading the previous week.

The market capitalization value during the week also increased by 0.32 percent to Rp7,262.002 trillion from Rp7,238,817 trillion at the close of trading last week.

The average daily transaction frequency also increased by 3.16 percent to 453,493 thousand transactions from 439,613 thousand transactions in the previous week. Then for the average daily transaction volume increased by 4.46 percent to 8,081 billion units of shares from 7,736 billion units in the previous week.

In line with the average daily transaction volume, the average daily transaction value also increased by 16.02 percent to IDR7,125 trillion from IDR6,141 trillion.

Foreign investors today recorded a net purchase value of Rp197.16 billion, while throughout 2020, foreign net purchases were recorded at Rp2,715 trillion.

According to some analysts, the JCI strengthening was influenced by several factors, such as the signing of the US and China trade agreement phase one which was finally completed on January 15.

Another positive sentiment is rising export imports and a smaller trade balance deficit. The strengthening of the rupiah exchange rate was also one of the pillars of the increase in the JCI.

Next week, JCI still has the potential to turn green. The stock market this week will wait for the direction of monetary policy at the Bank Indonesia Board of Governors Meeting on January 22-23.