Opened In The Red Zone, JCI Is Predicted To Continue Weakening Today

JAKARTA - The Jakarta Composite Index (JCI) opened lower in early trading on Wednesday, March 18. JCI opened lower by 65,570 points or 1.47 percent to 4,391.12.

At the opening of trading today, there were 52 stocks rising, 93 stocks weakening, and 79 stocks stagnating. Trade transactions reached IDR65.8 billion from 93.2 million shares traded.

Reliance Sekuritas Indonesia analyst Lanjar Nafi estimates that the JCI today will move lower based on its technical analysis. The range of support and resistance rates will be in the range 4.361-4.502.

One of the sentiments that influenced the movement of the index today was the President of the United States of America Donald Trump, who warned of the possibility of an economic recession. A recession is expected to occur due to the corona virus pandemic or COVID-19 which has the potential to expand into this summer.

"This has attracted investors' attention and worries, so they chose to risk off," said Lanjar in his research.

This morning, stocks that entered the top gainers, namely shares of PT Repower Asia Indonesia Tbk (REAL) rose IDR 4 or 6.9 percent to IDR 62, shares of PT Steadfast Marine Tbk (KPAL) rose IDR 7 or 6.6 percent to IDR 113, and shares PT Pelat Timah Nusantara Tbk (NIKL) increased by IDR 14 or 4.76 percent to IDR 308.

As for the stocks that entered the top losers, among others, the shares of PT Indah Kiat Pulp and Paper Tbk (INKP) fell by IDR290 or 6.87 percent to IDR 3,930, shares of PT Jasa Marga (Persero) Tbk (JSMR) fell by IDR 220 or 6, 85 percent to IDR 2,990, and shares of PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) fell IDR465 or 6.85 percent to IDR 4,960.