JCI Opened On Friday, Gaining 0.24 Percent To 4,619.98 Levels

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JCI opened on Friday, gaining 0.24 percent to 4,619.98 levels

JAKARTA - The Jakarta Composite Index (JCI) opened higher this weekend. JCI on Friday, May 8, opened up 0.24 percent or 11.19 points to the level of 4,619.98.

Opening the trade, there were 36 stocks rose, 8 stocks fell, and 15 stocks were stagnant. The trading volume was recorded at 4.46 million shares and was transacted for IDR 2.40 billion.

Reliance Sekuritas Indonesia analyst Lanjar Nafi estimated that the JCI today still tends to fluctuate and is susceptible to pressure. According to him, investors are waiting for the report on the United States (US) labor market for the April period, which is expected to worsen due to the impact of the COVID-19 outbreak.

"From within the country there will be data release of foreign exchange reserves which are estimated to increase," he said.

Bank Indonesia estimates that domestic foreign exchange reserves will increase to 125 billion US dollars from the position per March 2020 of 121 billion US dollars. This increase was supported by the issuance of global bonds.

Previously, the government had released global debt securities in the midst of the spread of the corona pandemic, with a value of up to 4.3 billion US dollars or around IDR 69.4 trillion.

With this domestic and foreign sentiment, he also predicts, JCI will move at the support and resistance levels of 4,560 to 4,785.