Saturday, 23 February 2019 | 03:25 WIB

JCI Expected to Plummet, Observe These Stocks

Illustration: IDX

JAKARTA, NNC - The Jakarta Composite Index (JCI) is predicted to weaken. The movement will be in the range of 5,714.6 to 5,826.3 throughout the trading Wednesday (10/31/2018).

The Danareksa Sekuritas Research Team in its daily research report also mentioned that several stocks that are worth observing include ASII, KLBF, TSPC, INKP, ADMF, BNGA, BDMN, BNII, BJBR, BMRI, BBNI, PNBN, CMNP, TLKM, AMRT, SCMA, SSIA.

At the close of trading yesterday, the JCI climbed 0.60 percent to 5,789.10 along with the majority of other Asian bourses which also rose yesterday.

The issuer's financial report release is the main factor driving the market.

From China, the China Securities Regulatory Commission stated that the authorities would encourage public companies to conduct share buybacks, mergers and acquisitions, reduce interference in trade for investors. This is enough to help recover investor confidence in the market.

Meanwhile, the US Stock Exchange was green on last trade. Dow Jones stock index (+1.77 percent) and S&P 500 (+1.57 percent) each moved to the level of 24,874.64 and 2,682.63

In terms of the US economy, the Conference Board's consumer confidence index in November 2018 rose to 137.9 from 135.3 in the previous period. Household perceptions of current economic conditions tend to be positive, mainly driven by strong labor absorption growth.

In the future, US consumers are confident that these conditions will continue until early 2019.

The majority of Asian exchanges this morning opened varied. The price of Brent oil (WTI) rose to the level of USD76.25 (USD66.37) per barrel, and the price of gold weakened to as low as USD1,223.50 per troy ounce.