Composite Index – 22 September 2020

Composite Index – 22 September 2020

The time when I type this, it’s raining hard outside my house. I thankful because I still have a roof to lay on. I hope Jakarta won’t suffer more flood this time.

Monday is not too kind to us, wasn’t it? The market drop for another -1.18%. But this one, mostly caused by the domestic investor failing as well. Trust in the market seems not yet recovered. As we can see, last week started with huge growth in the market, but the following days were fallin except Friday only. Let’s hope this week’s case is similar but the opposite of last week’s results.

Based on the picture above, the possible bullish area capability extends to 5135.8 with the bearish at 4924.

In every setback, there’s always a bright side of everything. The good news is the foreign net sell in the market were lower than the past week. It’s a good outcome, that can leads to more foreign net buy in the following days.

That supported by the portion of foreign is much similar than the past week, but why it’s keep worsened? On the other side of the coin, the reality shows that the domestic investors were beginning to turn aside. Less comfort with the Indonesia Stock Market. Red Monday due to the involvement of domestic ones.

Global Economics is still having a lot of turbulence ahead. China War with the USA, made Taiwan goes towards pro-USA more. London’s concern of the second big impact from COVID-19 leads the financial firms’ companies to shift to Work From Home policy. US Deaths nears 200.000; CDC needs to make a move. Xiaomi expanding to India, greater India with a van selling hub. Thailand’s massive night protest in Grand Palace and so many more.

Due to the pandemic impacts in Indonesia, the market is hard to get out of the swamp. As the swamp characteristics of stickiness and slowing us down. The pandemic surely made a huge impact on Indonesia legislation as well. President Joko Widodo had to push the ministers more to be able to achieve what he planned at his campaign. The burden is heavy, as a citizen what I can do is to obey the protocol to help stop the chain of the pandemic. We are in this together, I can make difference, so can YOU.


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