Movement of global stock markets was mixed at the end of last week (24/12); with some markets closed ahead of the Christmas period. The MSCI World Index recorded only a slight gain of 0.02%; amid smaller trading volumes. The sentiment of the Omicron variant still made investors cautious and hampered the movement of the stock market, which usually moved up at the end of the year.

JCI closed last weekend with an increase of 0.11%; supported by foreign net buys of IDR 205 billion. Although the majority of sectoral indexes closed down, significant gains in the Energy and Consumer Cyclical sectors were able to support the index. Entering the last week of trading in 2021, market participants will expect the window dressing action to become the driving force for stock market movements.

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