JCI tracks down Asian stock in Session I

Bisnis.com, JAKARTA – The Composite Share Price Index (CSPI) retreated at the end of the first trading session today, Friday (10/26/2018).

Based on data BloombergJCI declined 0.05% or 3.06 points to 5.751.90 at the end of the first session, although it started with a gain of 0.11% or 6.49 points to 5.761.45 levels.

During today's trading, JCI went from 5,748.61 to 5,784.13. On Thursday (10/25), JCI closed down 0.80% or 45.55 points at 5,754.96.

A total of 162 advanced shares, 176 lost shares and 272 shares stagnated on the 610 shares listed on the Indonesian Stock Exchange this afternoon.

Five of JCI's nine sector indices were in the red zone at the end of Session I, with major industry pressures falling by 0.94%, followed by the core industrial sector with a weakening of 0.73 %.

In addition, four sectors strengthened and limited the weakening of JCI, starting with the infrastructure sector, which strengthened by 0.82%.

JCI fell while other stock indexes in Southeast Asia were depressed in the red zone this afternoon, with the FTSE Malay KLCI index down 0.24%. Singapore's FTSE Straits Time index down 1.69%, the SE index in Thailand by 0.889%, while the Philippine PSEi index strengthened by 0.67%.

Asian equity markets weakened further after the publication of disappointing financial reports by Alphabet Inc. and Amazon.com on earnings prospects for US companies, global trade and economic growth.

Analysts at Capital Economics cautioned that bounce Thursday's S & P 500 index was only temporary, as investor concerns over the economic outlook worsened.

"The first and most important (concern) is that the tightening and loosening of fiscal stimulus will result in a deterioration of the US economy (…) Second, the Chinese economy will continue to be depressed" said Analysts Capital Economics.

"As we said at the moment, this concern is likely to worsen a year or more."

Investors will have the opportunity to monitor the pulse of the US economy later on Friday when the government will release third quarter data on gross domestic product.