JCI Drops, Demo Causes Capital Flow To Escape

Illustration: Photo: Doc. ANTARA

JAKARTA - The Composite Stock Price Index (JCI) was forced to grapple in the red zone.

Political turmoil in the last two days, marked by mass action that led to chaos around the Jakarta business center, has become a negative signal for the capital market.

Director of Digital Economy, Center of Economic and Law Studies (Celios), Nailul Huda said, investors read this situation as political uncertainty which immediately affected economic stability.

Investors will definitely see events in these two days as negative sentiment that will cause capital outflows. Even retail investors will also take similar actions," he told VOI, Friday, August 29.

Political instability will create economic instability. In the end, it will affect Indonesia's business conditions. JCI will definitely redden," continued Nailul.

Not only the stock market, the real sector has the potential to be affected. Nailul assessed that political uncertainty would prevent investors from taking steps to enter Indonesia.

"Looking at the chaos that has occurred, which has resulted from the government's indifferent attitude to the reality of society, I'm sure investors will no longer believe it. As a result, investors will refrain from investing in Indonesia. Except for investors who are part of the government's oligarchy," he said.

Previously, it was reported that the Composite Stock Price Index (JCI) closed down 1.53 percent or 121.59 points to 7,830.49 until the end of trading on the Indonesia Stock Exchange (IDX), on Friday, August 29, following the increasing escalation of demonstrations.

Throughout the day, the JCI moved at its lowest level at 7,765.59 or 2.34 percent compared to the previous closure. While the highest level was at 7,913.86.

Of all sectoral indexes, only the industrial sector is able to survive in the green zone with an increase of 0.73 percent.

Sementara itu, sektor-sektor lainnya kompak melemah seiring dengan penurunan IHSG.

Pelemahan terdalam tercatat pada sektor barang konsumen siklikal yang merosot 3,06 persen, disusul oleh sektor infrastruktur yang turun 2,27 persen, serta sektor teknologi yang melemah 2,25 persen

Selanjutnya, total volume transaksi bursa mencapai 50,86 miliar saham dengan nilai transaksi Rp22,29 triliun. Serta sebanyak 122 saham naik, 610 saham turun dan 70 saham stagnan.

Meanwhile, other sectors have weakened in line with the decline in the JCI.

The deepest weakening was recorded in the cyclic consumer goods sector, which fell 3.06 percent, followed by the infrastructure sector which fell 2.27 percent, and the technology sector which weakened 2.25 percent.

Furthermore, the total volume of exchange transactions reached 50.86 billion shares with a transaction value of IDR 22.29 trillion. And as many as 122 stocks rose, 610 stocks fell and 70 stocks were stagnant.