idnewsnetwork.com – The Jakarta Stock Exchange (IDX) Composite Stock Price Index (IHSG) is predicted to strengthen at the beginning of the week.
The strengthening of the JCI was in line with market players’ optimism for the Covid-19 vaccine.
JCI opened up 11.67 points or 0.21 percent to 5,583.33 positions. Meanwhile, the 45 leading stocks or LQ45 index rose 2.45 points or 0.28 percent to 887.35.
“In terms of sentiment, the JCI movement at the beginning of the week has the potential to strengthen amid optimism for vaccines.
However, investors will still monitor the manufacturing PMI economic data in many countries amid soaring cases in the world, especially Europe and the US,” said Head of Research for Reliance Sekuritas, Lanjar Nafi in Jakarta. , reported by Antara, Monday (23/11).
Equities in the US closed lower amid rising Covid-19 cases coupled with questions surrounding central bank funding for a major emergency program, raising doubts about the speed of economic recovery.
The Dow Jones, S & P500, and Nasdaq, compact closed in the red zone.
The seven-day average of new COVID-19 infections in the US was 165,029, 24 percent higher than a week ago.
Although vaccine progress is very positive, concerns about the uncertain economic recovery related to the Covid-19 outbreak assume a new lethal phase is haunting market movements.
Japanese stocks were closed for a holiday commemorating workers’ day. However, the Dow Jones futures index is seen rising as traders monitor the progress of the vaccine.
Vaccination against Covid-19 in the US is “expected” to start in less than three weeks, according to the head of the federal government’s program.
With Covid-19 cases and deaths still surging in many parts of the world and daily infections approaching record highs in the US, investors remain focused on data coming from vaccine trials.
As well as concerns about the impact on the global recovery, the public bickering that erupted last week between the Trump administration and the Federal Reserve over an emergency loan facility has scared investors.
This morning, the Asian regional stock markets include the Hang Seng Index, which rose 12 points or 0.05 percent to 26,463.54, the Hang Seng Index rose 10.58 points or 0.31 percent to 3,388.31, and the Straits Times Index increased 21.52. or 0.77 percent to 2,834.53. Meanwhile, the Japanese stock exchange was closed.