This is why the JCI fell by 1.55% when the majority of Asian exchanges turned green today

ILLUSTRATION. Investors cross in front of the stock movement board on the Indonesia Stock Exchange, Jakarta./pho KONTAN / Carolus Agus Waluyo.

Reporter: Akhmad Suryahadi | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) closed significantly lower by 1.55% at the level of 6,071.44 on Tuesday (30/3) trading. This is inversely proportional to the majority of stock indexes in Asia which rose this afternoon, such as the Nikkei, Hang Seng, and the Straits Times.

The Research Team of Phillip Sekuritas Indonesia assessed that a number of Asian stock indices closed up because investors remained focused on the global vaccination program. Investors ignore the impact of the default incident by Archegos Capital, a hedge fund which has cost big banks such as Nomura and Credit Suisse.

Investors welcome the news about the vaccine. Research conducted by the Centers for Disease Control and Prevention (CDC) in the US shows that a single injection dose of the vaccine made by Pfizer or Moderna has an effectiveness rate of 80% in preventing the transmission of Covid-19.

Also Read: The JCI is predicted to continue to weaken in trading Wednesday (31/3), this is the reason

The CDC also states that two injection doses are better than just one injection. This is because the effectiveness rate can jump to 90% two weeks after receiving the second injection.

Meanwhile, a number of countries such as South Korea, Indonesia and the Philippines have had difficulty finding alternative sources for vaccines.
This happened after India, the world’s largest vaccine exporter, imposed a temporary suspension of exports of vaccines made by AstraZeneca, which are produced by the Serum Institute of India (SII) in order to meet India’s domestic needs.

From the macroeconomic side, investors are looking forward to the release of Economic Sentiment and Consumer Confidence data in March for the Euro zone. Investors will be looking for clues as to how the public views the economic prospects of the Euro zone.