Majority of Asian Stocks Decline, JCI Continues to Strengthen


The Majority of Asian Stocks Decline, JCI Continues to Strengthen
Employees have activities near the monitor of the Composite Stock Price Index (CSPI) movement, at the Indonesia Stock Exchange building, Jakarta, Wednesday (10/31/2018). / JIBI / Business – Felix Jody Kinarwan, JAKARTA – The Composite Stock Price Index (CSPI) continues its strengthening at the end of trading today, Wednesday (11/14/2018).

The JCI closed up 0.4% or 23.09 points at 5,858.29, after ending up 1.01% or 58.14 points at 5,835.20 on Tuesday (11/13).

The JCI previously opened in the green zone with a gain of 0.39% or 22.52 points at the level of 5,857.72 Throughout today's trading, the JCI moved at the level of 5,851.79 – 5,896.80.

Of the 615 shares listed on the Indonesia Stock Exchange (IDX), 190 shares rose, while 196 shares fell, and 229 shares stagnated.

Five of the nine sectors settled in the green zone in today's trade, led by the basic industrial sector which rose 3.64% and followed by various industrial sectors which rose 1.74%.

On the other hand, the other four sectors weakened and held back the JCI gains further, led by the agricultural sector which fell 2.26%.

PT HM Sampoerna Tbk (HMSP) became the main support for the JCI after it closed up 2.12%, followed by PT Astra International Tbk (ASII) which gained 2.19%.

In line with the JCI, the Bisnis 27 index also closed up 0.89% or 4.64 points to 524.57, after opening in the green zone with a gain of 0.69% or 3.59 points at 523.53.

In Southeast Asia, stock indices were observed moving this evening, with the Philippines PSEi index rising 1.16 and Malaysia's FTSE KLCI index rising 0.05%, while Singapore's FTSE Straits Times index and SE Thailand index weakening by 0.34% and 0.72%.

In other regions of Asia, the Topix index and Japan's Nikkei 225 rose 0.17% and 0.16% respectively, while the Shanghai Composite and Hang Seng indexes weakened 0.85% and 0.64% respectively.

Overall, the majority of Asian stock exchanges fell following the release of a number of Chinese economic data which showed mixed results, with retail sales figures missing estimates even though industrial production rose.

Reported by Reuters, a mixed picture of China's economy was released on Wednesday, with official data showing retail sales growth which was weaker than expected, however output industry and asset investment persist.

Data came after China reported a sharp decline in credit growth in October on Tuesday, which showed a weakening economy.

Meanwhile, real estate investment fell to its lowest level in 10 months in China, according to data released on Wednesday. But share prices in the property sector in Hong Kong remained largely unaffected, with the Hang Seng property sub-index closing up 0.6%.

Meanwhile, the rupiah exchange rate closed up 18 points or 0.12% to the level of Rp14,787 per US dollar.

The previous Garuda currency opened with a gain of 22 points or 0.15% at the level of Rp14,783 per US dollar, after successfully rebounding from its weakness and ended up appreciating 0.1% or 15 points at the level of Rp.14,805 per US dollar on Tuesday trading ( 11/11).

JCI boosters stocks:











CSPI suppressing stocks:











Source: Bloomberg


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