JCI Pressured by Foreign Investor Sell-off

Rendy Andriyanto
Rendy Andriyanto
Gotrade Team
Reviewed by Gotrade Internal Analyst
JCI Pressured by Foreign Investor Sell-off

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Gotrade News - The Jakarta Composite Index (JCI) showed fluctuations at the beginning of Thursday's trading session (03/12), dropping 0.25% to 7,370 at 09:15 AM WIB. The market opened stronger at 0.13% to 7,398, but instability continued to loom. Trading volume reached 3.24 billion shares, with transactions valued at IDR 1.5 trillion while 340 stocks weakened.

This situation heightens investor concerns over global uncertainty triggered by Middle East tensions, as reported by Bloomberg Technoz. Sell pressure from foreign investors is evident with a net foreign sell of IDR 730 billion, indicating continued stock distribution by foreign parties.

BRI Danareksa Sekuritas notes that the JCI movement is held back below a key psychological level. With investor caution ahead of the long Eid holiday, selling pressure tends to intensify. In the last trading session, the index closed down 0.69% at 7,389.4, despite earlier gains in the first session.

Chory Agung Ramdhani from BRI Danareksa asserts that the distribution pressure from foreign investors suggests a vulnerable market situation. Gains are only temporary before corrections occur, moving back into negative territory through the second session.

Global factors remain a major focus, especially political uncertainties affecting capital flows. Without significant positive catalysts, the JCI is likely to remain under pressure and experience limited movements. An investor attitude of 'wait and see' amid this negative sentiment indicates that trading prospects might remain unstable for some time.

Investors are advised to be vigilant about geopolitical developments that could further influence market sentiment. The predicted JCI movement remains trapped in a pessimistic view due to uncertain external factors.


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