JCI Opened On Tuesday, Increasing 76.13 Points To 4,829.74 Levels

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened higher after a three-day long holiday. JCI on Tuesday, June 2, opened up 76.13 points or 1.60 percent to the level of 4,829.74.

Opening the trade, there were 143 stocks rising, 40 stocks weakening and 135 stocks stagnating. The trading volume reached 225.52 million shares and was transacted for Rp445.84 billion.

Director of PT Anugrah Mega Investama, Hans Kwee, said that the domestic index is likely to rise earlier this week. "We estimate the JCI has the potential to strengthen (up) at the beginning of this week and is prone to profit taking at the end of the week," he said.

According to him, JCI this week will move with support at 4,700-4,541 levels and resistance at 4,800-4,975 levels.

Apart from the sentiment of US-China tensions and the post-COVID-19 economic recovery, Hans said that investors will be watching a number of other sentiments such as the development of the corona virus vaccine, the plan for the European zone recovery fund which reaches 750 billion euros.

"The easing of social restrictions in various countries and there is no sign of a second wave of COVID-19 and plans for new normalcy in the country will also be a positive sentiment for the Indonesian stock market," said Hans.

Meanwhile, Reliance Sekuritas analyst, Lanjar Nafi argues, the stock market in the US is starting to rise as investors are currently focusing on signs of economic recovery in Uncle Sam's country, despite US-China tensions and escalating racial tensions following the brutal police killing of blacks. George Floyd. This action sparked massive demonstrations for seven days.