Global sentiment is currently dominant in suppressing the index. (Credit : CNN)

Overshadowed by a trade war, JCI is expected to droop more

The Composite Stock Price Index (CSPI) again weakened by 0.5 percent, down from the last week. Now, the position is at 6,250.

Reporting from RTI Infokom, investors posted transactions of Rp.7.33 trillion with a volume of 17.06 billion shares. While foreign market participants recorded a net buy or net buy in all markets amounting to Rp132.93 billion.

Analysts projected the Composite Stock Price Index (CSPI) will continue correction in today's trading, Tuesday (8/13). Global sentiment is currently dominant in suppressing the index.

According to Director of Investa Saran Mandiri Hans Kwee, the index movement is currently overshadowed by US-China trade war. He predicts that JCI will likely weaken with support at the level of 6,224-6,153 and resistance of 6,309-6,353.

The same thing was said by Reliance Sekuritas Analyst, Lanjar Nafi. He added that technically the index showed signs of continued weakness. He estimated the index to move at the support level of 6,200 and resistance of 6,320.

On the other hand, majority of Asian Stock Indices moved higher. The condition was shown by Kospi Index in South Korea rose 0.23 percent and Nikkei225 in Japan rose 0.44 percent. Meanwhile, Hang Seng index in Hong Kong fell 0.44 percent.

While stock indices in Europe move varied. DAX index in Germany rose 0.13 percent. But All-Tredable CAC Index in France fell 0.03 percent and FTSE100 in UK fell 0.20 percent.

Source: https://m.cnnindonesia.com/ekonomi/20190813064452-92-420750/ihsg-diproyeksi-lesu-dihantui-perang-dagang-as-china