Jakarta Composite Index Falls 0.3% After Briefly Nearing 20% Bull-Market Threshold
Updated
Updated · Bloomberg · Jul 23
Jakarta Composite Index Falls 0.3% After Briefly Nearing 20% Bull-Market Threshold
1 articles · Updated · Bloomberg · Jul 23
Summary
Indonesia’s benchmark stock index closed 0.3% lower on Thursday after swinging from an intraday gain of as much as 1.9%.
That earlier rally briefly lifted the Jakarta Composite Index to nearly 20% above its early-June low, putting it on the cusp of a bull market before gains faded.
Investors had rotated into laggard shares and sentiment steadied as concerns over Indonesia’s fiscal health eased.
The reversal showed that, despite improving confidence, the market still struggled to hold a breakout after its recent rebound.