JAKARTA - Analysts predict that the Jakarta Composite Index (JCI) will weaken again in today's trading, Thursday, November 3 after yesterday's drop of 0.52 percent to 7,015.690.
The market sell-off has the potential to ease after the Federal Reserve raised interest rates by 75 basis points (bps) last night and signaled smaller rate hikes in the next period.
Reliance Sekuritas analyst Lukman Hakim assessed that the JCI weakened for two days in a row due to the external sentiment of the Fed's interest rate movements. Especially if you look at the statistics, the JCI in November usually weakens.
"Investors will respond to the decisions of the Fed and the Bank of England (BoE) regarding interest rate decisions, so the market will still be volatile and tend to take profit," said Lukman, in his research.
VOIR éGALEMENT:
Furthermore, Lukman said, JCI will move within the support range of 6,960 and resistance at 7,045 for today's trading, which indicates that the index will weaken again.
According to Lukman, the stocks that can be observed include BTPS, MAPI, and GZCO.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
Most Popular Tags
#Prabowo Subianto #New Year #Mother's Day #nataru #NatalPopular
