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JCI, rupiah strengthen on Tuesday morning
The Jakarta Composite Index (JCI) and the rupiah interbank trade rate on Tuesday morning opened on a positive note due to positive sentiment from the market following the inauguration of President Joko "Jokowi" Widodo and Vice President Jusuf Kalla on Monday
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he Jakarta Composite Index (JCI) and the rupiah interbank trade rate on Tuesday morning opened on a positive note due to positive sentiment from the market following the inauguration of President Joko "Jokowi" Widodo and Vice President Jusuf Kalla on Monday.
The JCI strengthened by 0.33 percent by 9 a.m. on Tuesday to 5,057.28 while the rupiah appreciated by 31 basis points to Rp 11,994 per US dollar.
In addition, shares of blue chip firms rose by 0.49 percent to 859.22.
"The inauguration of President Jokowi yesterday has created positive sentiment in the financial market. We hope that this sentiment will continue in the future, that it's not just a temporary euphoria," Asjaya Indosurya Securities analyst William Surya Wijaya said as quoted by Antara news agency.
He said that the JCI still had a good chance to strengthen to 5,141 points later in the afternoon, as it was supported by foreign capital that continued to flood the domestic market.
"We predict that the JCI will continue its domination of the domestic market in the near future," he said, adding that investors were currently waiting for the formation of the Jokowi-Kalla Cabinet.
In the regional market, Hong Kong's Hang Seng and Singapore's Straits Times climbed by 0.44 percent and 0.47 percent, respectively.
Meanwhile, Japan's Nikkei fell by 0.61 percent to 15,019.42 on Tuesday morning. (nfo)
