All three major US indexes closed lower in unison (08/09). The correction was led by several sectors, including: Technology, Energy, and Basic Materials. Market sentiment is still overshadowed by concerns about the impact of the rising number of Covid-19 cases on the economic recovery, which seems to be slowing down.
In line with the majority of global markets, JCI also continued its downward trend in September. The Consumer Confidence Index (CCI) for August was reported to have fallen to 77.3; while the strengthening rate of Rupiah began to stall. Technically, JCI is predicted to decline to a lower consolidation range in the range of 5,950 – 6,100.
Download full report HERE.