The Jakarta Composite Index opened on a positive note in Friday's first trading session, rising slightly by 0
The Jakarta Composite Index opened on a positive note in Friday's first trading session, rising slightly by 0.12 percent to 5,104.55.
In addition, the LQ45 index climbed by 0.18 percent to 874.24.
"The JCI is still in a consolidating phase as market players wait for news on the performance of publicly listed companies in the first half of the year as well as national economic data on June 2014," Asjaya Indosurya Securities analyst William Surya Wijaya said in Jakarta on Friday as quoted by Antara news agency.
He said that the market players were optimistic that listed firms' financial reports for the first half would be relatively good, resulting in positive sentiment toward the domestic market.
"We predict that the JCI will move between 5,079 and 5,155 basis points," he added.
Meanwhile, Valbury Asia Securities research head Alfiansyah said that the improvements in the JCI would continue to be limited due to external political developments -- such as tension in Ukraine -- that might affect global crude oil and gas prices.
"The increasing prices of both commodities will worry market players, since such a condition is likely to increase Indonesia's imports," he said.
In the regional market, Hong Kong's Hang Seng and Japan's Nikkei strengthened by 0.06 percent and 0.59 percent, respectively, while Singapore's Straits Times weakened by 0.13 percent. (nfo)
Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.
Thank you for sharing your thoughts. We appreciate your feedback.