Cabinet Reshuffle Issues Makes JCI To Fall 2.31 Percent: Bank Mandiri And Indofood Shares On Sale

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) closed significantly lower in trading today, Tuesday 22 December. JCI closed down 142.34 points or 2.31 percent to the level of 6,023.29.

All sectoral indexes fell along with the JCI. The total transaction volume reached 28.05 billion shares with a transaction value of IDR 20.65 trillion.

At the close of trading 397 stocks fell, 123 stocks rose, and 111 stocks were stagnant. Foreign investors recorded a net sell or net sale of IDR 443 billion in all markets.

The stocks with the largest foreign net sales were PT Bank Mandiri Tbk (BMRI) with Rp162.9 billion, PT Indofood CBP Sukses Makmur Tbk (ICBP) at Rp.70.3 billion, and PT Indofood Sukses Makmur Tbk (INDF) at Rp.63.3 billion.

Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama said that the weakening of the JCI was driven by market players who waited and saw in response to the cabinet reshuffle news.

As is well known, President Joko Widodo (Jokowi) is said to be announcing a cabinet reshuffle today Wednesday, December 22. Kasetpres Heru Budi Hartono said confirmation of this reshuffle.