The Jakarta Composite Index (JCI) on Wednesday (7/7) has the potential to be corrected in line with negative global sentiment and the ongoing increase in domestic COVID-19 cases.

Director of MNC Asset Management Edwin Sebayang said overcast clouds still covered the Indonesia Stock Exchange this Wednesday. As a result, there was quite a lot of negative sentiment going back and forth in the market, including the 0.60% decline in the Dow Jones index, followed by a reasonably deep fall in EIDO of around 1.98%, as well as falling prices for several commodities such as oil, coal, CPO, tin, and nickel.

"Another negative sentiment that has the potential to drive the JCI down also comes from the increasing number of COVID-19 victims day by day, both infected and dead, and the continued net selling by foreign investors," he said in Jakarta.

The JCI is estimated to move at the support and resistance levels of 6,008-6,099

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