Jakarta (ANTARA) - The Composite Stock Price Index (JCI) of the\nIndonesia Stock Exchange (IDX) on Thursday is potentially moving lower,\ntriggered by profit-taking actions by market players ahead of the long\nweekend at the end of the week.<\/p>\n
The JCI opened stronger by 2.03 points or 0.03 percent to 7,103.26.\nMeanwhile, the group of 45 leading stocks or LQ45 Index fell 0.50 points\nor 0.07 percent to 683.64.<\/p>\n
\u201cBased on technical analysis, we see the JCI potentially weakening in\na limited manner with support and resistance at 7,000-7,325,\u201d said\nAssociate Director of Research and Investment at Pilarmas Investindo\nSecurities, Maximilianus Nico Demus alias Nico, in his analysis in\nJakarta on Thursday.<\/p>\n
From overseas, the US Federal Reserve decided to maintain its\ninterest rate at 3.5-3.75 percent.<\/p>\n
However, differences of opinion among Fed officials are becoming more\npronounced, particularly regarding policy prospects amid rising\nuncertainty in the Middle East.<\/p>\n
Fed Chair Jerome Powell stated that he will remain within the Fed,\nbut only as a Governor. Regarding the investigation into the Fed\ninvolving Powell, he will not leave the board until all investigations\nare completed transparently and thoroughly.<\/p>\n
This meeting was Powell\u2019s last as the meeting leader of the Fed, to\nbe replaced by Kevin Warsh, who has already received confirmation from\nthe US Senate for the position.<\/p>\n
On the other hand, from the US, market players are awaiting the\nrelease of the March 2026 PCE Prices Index, expected to rise to 3.3\npercent from 2.8 percent in February 2026.<\/p>\n
Meanwhile, US economic growth data for the first quarter of 2026 is\nestimated to grow 1.5 percent quarter-on-quarter (qoq) from the previous\n0.5 percent (qoq).<\/p>\n
From the European region, market players will monitor the release of\nfirst-quarter 2026 GDP data, inflation, unemployment rates, and the\nresults of the European Central Bank (ECB) meeting.<\/p>\n
According to consensus, the ECB is expected to maintain its benchmark\ninterest rate at 2.15 percent, in line with the Bank of England (BoE)\nwhich is potentially still maintaining its interest rate at 3.75\npercent.<\/p>\n
Domestically, stock trading only takes place for four days this week,\ndue to International Labour Day (May Day) on Friday, 1 May 2026,\nfollowed by the weekend holidays on Saturday and Sunday.<\/p>\n
Meanwhile, President Prabowo is targeting the acceleration of the\nformation of Red and White Cooperatives (KDMP) as part of strengthening\nthe people\u2019s economy.<\/p>\n
In the near future, around 1,000 cooperatives will be inaugurated,\nfollowed by more than 25,000 in the coming months, with a final target\nof around 80,000 units across Indonesia.<\/p>\n
These cooperatives are designed based on physical assets such as\nwarehouses, cold storage, outlets, and vehicles to directly stimulate\nvillage economies, not just administratively. This programme is said to\nbe on an unprecedented scale.<\/p>\n
Each cooperative is estimated to absorb around 18 workers, thus\npotentially creating widespread employment and strengthening the\ndistribution of agricultural and fisheries products. In addition, the\ncooperatives will be integrated with the free nutritious meal programme\nto create stable demand for local products.<\/p>\n
\u201cWe assess that overall, this programme aims to redirect economic\nflows so that more is enjoyed by the domestic population,\u201d said\nNico.<\/p>\n
On Wednesday\u2019s trading (29\/4\/2026), European stock exchanges\nuniformly weakened, including the Euro Stoxx 50 down 0.39 percent, the\nUK FTSE 100 down 1.16 percent, the German DAX down 0.27 percent, and the\nFrench CAC 40 down 0.39 percent.<\/p>\n
Meanwhile, the US Wall Street exchange closed mixed on Wednesday\n(29\/04), including the Dow Jones Industrial Average down 0.57 percent to\n48,861.81, the S&P 500 down 0.04 percent to 7,135.95, and the Nasdaq\nComposite up 0.58 percent to 27,186.99.<\/p>\n
Regional Asian stock exchanges this morning included the Nikkei down\n656.96 points or 1.10 percent to 59,260.50, the Shanghai up 8.06 points\nor 0.20 percent to 4,115.58, the Hang Seng down 159.34 points or 0.61\npercent to 25,952.50, and the Straits Times up 36.54 points or 0.75\npercent to 4,897.51.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jci-potentially-weakens-due-to-profit-taking-ahead-of-long-weekend-1777530545", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }