“We would like to once again remind investors of the need to pay attention to fundamentals, avoid panicking, conduct careful analyses, and arrange investment strategies based on their respective risk profiles,” he remarked.
Speaking to reporters at the IDX Building in Jakarta on Monday, Hendrik acknowledged that Indonesia’s stock market remains vulnerable to volatility driven by both domestic and external factors.
“The market condition is highly dynamic and continues to be defined by elevated uncertainty," he noted.
Hendrik attributed the latest JCI correction largely to weakening stock market trends across Asia and other global markets amid rising geopolitical tensions, which have pushed up oil prices and could potentially increase global interest and inflation rates.
“During the market holiday, global markets, particularly in Asia, also experienced corrections. If we combine the two-day decline in Asian markets with today’s slight global downturn, the figure is in line with the correction we are seeing now,” he explained.
Nevertheless, Hendrik admitted that Indonesia’s stock market continues to face significant uncertainty.
“I believe the trend remains aligned with global markets, although it is true that our market is still characterized by relatively high uncertainty,” he concluded.
IDX data showed that the Jakarta Composite Index fell 124.08 points, or 1.85 percent, to close at 6,599.24 on Monday afternoon. Trading volume reached 31.99 billion shares across 2.57 million transactions, with a total transaction value of Rp20.71 trillion (approximately US$1.1 billion).
Earlier in the day, the index had dropped as much as 320.76 points during the first trading session at 11:04 a.m. Jakarta time, sliding to 6,402.56.
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Translator: M. Heriyanto, Tegar Nurfitra
Editor: M Razi Rahman
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