JAKARTA - The Composite Stock Price Index (JCI) fell 4.41% after the opening of trading on Monday (24/3) yesterday, ahead of the announcement of the organisational structure of Danantara's Investment Management Agency (BPI).

However, the JCI rebounded from its lowest position at 11.21 WIB, until the end of the first trading session at 6,104.11.

The JCI continued to rebound and closed trading at 6,161.22, down 1.55% from last weekend's position.

‘It looks like the trend is positive after Danantara's announcement,’ said Rosan, to the media crew after a press conference in Jakarta.

For the record, stock trading on the Indonesia Stock Exchange (IDX) was halted for 5 minutes last week (18/3), as the JCI fell 5.02%.

Rosan emphasised that currently the state-owned companies under Danantara also have good fundamentals. ‘Not only by our standards, but also international standards,’ said Rosan.

In addition, Rosan said, he believes that the JCI and the share prices of SOE issuers under Danantara will improve. ‘We believe that in the future the price will definitely go up,’ he added.

The IDX noted that the selling pressure of foreign investors on Monday began to subside, with a net sell of only Rp160.86 billion. This is far from the net sell position last weekend which reached Rp2.35 trillion. (KR/LM)