JCI Is Projected To Weaken On Wednesday, This Is The Concern Of Market Participants According To Analysts

Illustration. (Photo: Doc. Antara)

JAKARTA - The Jakarta Composite Index (JCI) in today's trading, Wednesday, September 29, is expected to weaken again, after yesterday ending in the red zone with a 0.15 percent decline to 6,113 levels.

According to PT Pilarmas Investindo Sekuritas analyst Maximilianus Nico Demus, market players are currently watching the electricity crisis in China which has resulted in production restrictions by a number of exporters. Thus, this condition will threaten the availability of supply and will encourage an increase in global inflation.

Meanwhile, from within the country there were a number of positive sentiments related to various social protection stimuli and tax policies borne by the government. So, the government's steps are expected to increase public consumption.

"Based on technical analysis, we see that the JCI currently has a limited opportunity to move lower and is traded in the range of 6,060-6,149," said Nico Demus in his research.

Meanwhile, based on research by PT Samuel Sekuritas Indonesia, the lack of positive sentiment from regional stock exchanges and the Wall Street market will again create sideways movements in the JCI rate.

However, from within the country, there is positive sentiment regarding the downward trend in daily COVID-19 cases and an increase in the number of vaccination recipients.