Crazy! Russia Vs Ukraine War Makes JCI Wednesday Session I Drop 1.63 Percent

Presiden Rusia Vladimir Putin (Sumber: Premier.gov.ru/Press service of the Government of Russia)

JAKARTA - The Composite Stock Price Index (JCI) suddenly fell sharply 1.63 percent or 112.61 points to 6,807.44 at the end of the first trading session on Wednesday, February 24.

A total of 501 stocks fell, 81 green stocks and 89 stocks traded stagnant. JCI moved in the range of 6,782.36 - 6,929.91 during trading. However, foreign investors still posted a net buy of IDR 669.73 billion.

The movement of the JCI and Asian markets cannot be separated from geopolitical tensions between Russia and Ukraine. Citing Bloomberg, Russian troops attacked cities across Ukraine after President Vladimir Putin ordered an operation aimed at demilitarizing the country, prompting Ukraine's foreign minister to warn of a full-scale invasion.

In a nationally televised address Thursday morning, Putin called on Ukrainian soldiers to lay down their weapons and go home. He said Russia had no plans to occupy its southern neighbour, but that it should "defense itself from those holding Ukraine hostage", referring to the US and its allies having crossed Russia's red line with the expansion of the NATO alliance.

Ukraine's Interior Ministry warned of a missile attack in Kyiv, and urged residents to hide in shelters.

"This is a war of aggression," Ukrainian Foreign Minister Dmytro Kuleba said in a tweet.

"Ukraine will defend itself and will win," he added.

US President Joe Biden called the move an unwarranted and unjustified attack by Russian military forces and said the world would hold Russia to account.

Biden added that he would meet his allies in the Group of Seven on Thursday and then talk to the American people to announce further punishments to be placed in Moscow.

"President Putin has chosen a premeditated war that will cost lives and human suffering," Biden said in a statement.

"Russia alone is responsible for the death and destruction that this attack will cause, and the United States and its Allies and partners will respond in a united and decisive manner," he added.