The Indonesia Composite Index (JCI) of the Indonesia Stock Exchange\n(IDX) closed weaker by 0.83 per cent, or 50.64 points, to the level of\n6,071.14 from its previous position of 6,121.78 on Wednesday.<\/p>\n
The JCI experienced this decline despite the strengthening of the\nRupiah and a correction in global oil prices.<\/p>\n
Ratna Lim, Head of Research at Phintraco Sekuritas, stated in her\nanalysis in Jakarta on Wednesday that the JCI\u2019s decline occurred amidst\na 0.33 per cent appreciation of the Rupiah to Rp17,884 per US dollar,\nfollowing a decline in the US Dollar Index.<\/p>\n
On the other hand, Brent crude oil prices continued to correct below\nthe US$96 per barrel level, supported by indications of improving crude\noil flows from the Middle East and steps taken by the United States to\nrelease emergency reserves, which eased supply concerns.<\/p>\n
\u201cThe average crude oil exports from the Middle East over the last 10\ndays have recovered to the level of 17.5 million barrels per day, or\nequivalent to 98 per cent of pre-war levels,\u201d said Ratna.<\/p>\n
According to her, technically, the Moving Average Convergence\nDivergence (MACD) histogram remains in the negative area, while the\nStochastic Relative Strength Index (RSI) is still in the oversold\narea.<\/p>\n
Under these conditions, the JCI is expected to continue moving in a\nconsolidative manner within the 6,000-6,200 range during Thursday\u2019s\ntrading.<\/p>\n
Based on the IDX-IC sectoral index, only two out of 11 sectors\nstrengthened during Wednesday\u2019s trading. The industrial sector led the\ngains with an increase of 1.17 per cent, followed by the consumer\nstaples sector which rose by 0.15 per cent. Meanwhile, the other nine\nsectors closed weaker.<\/p>\n
Stock trading frequency was recorded at 1.8 million transactions,\nwith the total number of shares traded reaching 30.12 billion shares\nvalued at Rp14.03 trillion. A total of 308 stocks rose, 360 stocks\ndeclined, and 125 stocks remained stagnant.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jci-closed-weaker-on-wednesday-despite-strengthening-rupiah-1790766502", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }