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JCI opens up by 0.27%
The Jakarta Composite Index (JCI) rose by 13
T
he Jakarta Composite Index (JCI) rose by 13.27 points or 0.27 percent to 4,883.49 during the first trading session on Wednesday, following stock-buying by foreign investors.
Meanwhile, the LQ45 index was up by 3.45 points (0.42 percent) to 826.54.
'Foreign market players have continued to enter the market. This shows that the potential for the index to strengthen has not yet subsided,' Asjaya Indosurya Securities analyst, Surya Wijaya, said in Jakarta on Wednesday as quoted by Antara news agency.
Technically the JCI still had quite a big potential to continue to strengthen, exceeding the upper level of 4,903 points, he said.
'On Wednesday, the index is expected to move within the range of 4,852 ' 4,933 points,' added Surya.
Meanwhile, Mandiri Sekuritas' technical-analysis team said in its assessment that political risks had calmed after the legislative election and this persuaded foreign investors to re-enter the Indonesian capital market.
'In the short term, the index will still move 'mixed to up'. Today, the JCI will still stay within the range of 4,858 ' 4,888 points,' it said.
In the regional markets, the Hang Seng Index strengthened by 170.17 points or 0.75 percent to 22,841.43; the Nikkei Index rose by 302.82 points (2.16 percent) to 14,299.63; and the Straits Times Index was up by 9.20 points (0.28 percent) to 3,255.26. (ebf)
