Effects of the Weakening of the Rupiah Dragging the JCI to the Red Zone
RakyatUtama . The Composite Stock Price Index (CSPI) is predicted to move in the red zone on Monday's trade. The weakening rupiah exchange rate against the US dollar (US) was the trigger. Based on RTI Infocom data, the rupiah in the past week weakened by 1.7 percent. Previously the rupiah had been in the area of Rp. 14,200 per US dollar, now the rupiah has weakened in the area of Rp. 14,400 per US dollar. "The JCI is predicted to weaken, supporting 6,085-6,105 resistance 6,143-6,161," said Analyst Artha Sekuritas Dennies Christopher Jordan, as quoted from his research on Sunday. In addition, Dennies said the JCI in today's trade will experience pressure from technical factors. JCI movement that has touched the overbought area is expected to weigh on the index movement. "There is potential for weakness in the short term," Dennies explained. But, Indosurya Analyst Shining Securities William Surya Wijaya estimates that the JCI will continue its strengthenin...