JCI Is Under Pressure Due To Further Demonstration, IDX: Market Fundamentals Are Still Strong

IDX (Photo: Antara)

JAKARTA - The Composite Stock Price Index (JCI) has been observed to weaken since the beginning of the trading session on Friday, August 29. This decline is strongly suspected to have been triggered by the increasing demonstrations taking place in various areas of Jakarta.

Based on RTI Business data, JCI was recorded to have weakened by 1.33 percent or 105.75 points to 7,846.33 to 15.34 WIB.

Director of Stock Exchange Indonesia (IDX) Jeffrey Hendrik stated that fundamentally, the Indonesian capital market still shows good resilience.

"When it comes to the JCI, the most competent to convey the analysis is the analysts. From the stock exchange, we see that our market fundamentals are strong," Jeffrey told the media crew, Friday, August 29.

Jeffrey explained that technically the JCI had touched the highest level at 8,022 and today's index movement was still relatively normal.

"This means that even if there is a technical correction, that is natural. What is important is that our fundamentals are still very strong. However, once again we remind you, investors must make decisions rationally," he said.

He also added that trade activities will continue as usual, because the IDX is tasked with serving investors from all over Indonesia and abroad.

"Trading must continue. We serve investors throughout Indonesia and the world. For 34 years the stock exchange has been running trade, many good and bad things have happened. We have to keep going," he concluded.