Director of PT. Anugerah Mega Investama Hans Kwee said foreign investors' confidence in Indonesia's economic prospects began to increase. The development of the covid 19 vaccine and the election of Joe Biden as President of the United States are thought to be factors driving the increase in foreign investor confidence. "This is plus the IMF has acknowledged that from the G-20 group, Indonesia's economic growth in 2020 will be the second best after China," Hans said in a written statement, Sunday, November 29, 2020.
Data shows that since October 1, 2020 there has been a combined flow of funds worth US $ 48 billion to nine stock exchanges. The nine exchanges are Japan, India, South Korea, Taiwan, Thailand, Indonesia, Malaysia, the Philippines and Vietnam. The optimism of retail investors plus the flow of foreign funds has made the Jakarta Composite Index (JCI) look stronger from early October to the present.
He also predicted that JCI has the opportunity to consolidate to continue strengthening this week. "But starting to be very risky to experience profit taking given the increase which was almost without significant correction," he said. With the increase in foreign investor confidence, the JCI is expected to move with support at the level of 5,669 to 5,427 and resistance at the level of 5,800 to 5,900.
