IDX Weakens 7.18 Points on Friday Opening

Jakarta, (Antara Sumbar) - The Indonesia Composite Index (IDX) weakened 7.18 points or 0.12 percent at the opening on Friday (Sept 8), influenced by external negative sentiments.

The IDX is down 0.12 percent, or 7.18 points, to 5,825.12 points, while the LQ45 index weakened 1.81 points, or 0.19 percent, to 969.04 points.

Nico Omer Jonckheere, Valbury Asia Securities' president and analyst, stated here on Friday that the external negative sentiments still causing the main cause of the weak movement of the IDX.

"The market is still cautious about the possibilities of escalating conflict in North Korea, that they might launch the ballistic missile," he said.

Meanwhile, Jonckheere noted that a relative conducive domestic sentiments might be able to hold the IDX to fall deeper, following a report of budget defisit by August 2017 that reached 1.65 percent or worth Rp224.3 trillion, or lower than the same period in 2016 that reached 2.09 percent.

More importantly, the internal positive sentiment is gained by a report of the national tax revenue that reached Rp780.037 trillion, or 53 percent of total target revenue of the revised budget plan 2017, which is higher than the same period last year that recorded Rp711.447 trillion, or 46 percent of the total target revenue.

Lanjar Nafi, Reliance Securities' analyst added that technically the IDX indicates short term positive moves, so it has alot of probabilities to rebound.

"Some indicators has formed a rebound, even though it is limited, but the IDX is predicted to move around 5,810 to 5,860 points by the end of this weekend," he said.

The signs of rebound have also seemed in the regional stock exchanges, such as at Hang Seng Hong Kong strengthened 157.51 points (0.57 percent) to 27,680.43 points and Straits Times Singapore 4.91 points (0.15 percent) to 3,232.74. While Nikkei Japan is slightly dipped 60.32 points (0.31 percent) to 19,336.04 points from last closing at 19,327.68 points. (*)

Editor: Vicha Faradika