JCI On Tuesday Opened Up 0.39 Percent To 4,623.54 Levels

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened higher on trading Tuesday, May 5. JCI opened up 0.39 percent or 18.05 points to 4,623.54 levels.

Opening trades, 47 stocks rose, 11 stocks fell, and 19 stocks were stagnant. The trading volume was recorded at 11.56 million shares and transacted for IDR 8.80 billion.

Reliance Sekuritas Indonesia analyst Lanjar Nafi also assessed that the dispute between the US and China has flared again and the relationship between South Korea and North Korea that heats up after a shootout in the Demilitarized Zone (DMZ) is the index's main sentiment today.

"The geopolitical conflict will become the focus of investors, ignoring the development of the COVID-19 pandemic," said Lanjar.

Even so, technically, he assessed that JCI today still has the opportunity to reverse direction, aka rebound. According to him, the support and resistance areas for the index today are at the level of 4,600 to 4,836.

This morning, stocks that were among the top gainers, including PT Bank BRIsyariah Tbk (BRIS) which rose 4.95 percent to Rp212, PT Jasa Marga (Persero) Tbk which rose 3.29 percent to Rp3,140, and PT Medco Energi International Tbk (MEDC) which strengthened 2.21 percent to Rp462.

Meanwhile, stocks that are among the top losers include PT Kobexindo Tractors Tbk (KOBX) which fell 5.62 percent to Rp84, PT Indika Energy Tbk (INDY) which fell 5.41 percent to Rp700, and PT Modernland Realty. Tbk (MDLN) which weakened 5.41 percent to Rp70.