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JCI weakens by 0.30%
The Jakarta Composite Index (JCI) weakened by 15
The Jakarta Composite Index (JCI) weakened by 15.30 points, or 0.30 percent, to 5,058.84 during Thursday's final trading session.
Meanwhile, the 45 most liquid stocks (LQ45) weakened by 3.18 points (0.37 percent) to 860.29.
Woori Korindo Securities Indonesia head of research, Reza Priyambada, said in Jakarta on Thursday most market players had taken a profit-taking position to anticipate the fuel price hike.
'However, the regional stock market indexes, which mostly stayed in positive areas, managed to hold back deeper pressures,' he said, as quoted by Antara news agency in Jakarta on Thursday.
Reza said expectations on the work performances of several publicly listed companies that were positive in the third quarter of 2014, as well as rupiah fluctuations which were quite stable, had managed to hold back the JCI to weaken further.
On the other side, the analyst said that positive sentiments were seen again after foreign stock buying actions, which managed to hold back further JCI corrections. According to Indonesia Stock Exchange (IDX) data, foreign stock market players booked net buys worth Rp 255.06 billion (US$21.11 million).
HD Capital analyst Yuganur Wijanarko said following certainty from the US Federal Reserve that it would stop its quantitative easing program, market players had started to shift their focus to the government's plan to increase the fuel price.
'The market players are waiting for the exact date for the government's plan to increase the fuel price to move again to the level of 5,000 points,' said Yuganur.
On Thursday, the IDX recorded 199,798 transactions with 3.51 billion shares worth Rp 3.84 trillion. As many as 126 stocks were up and 179 stocks weakened.
In the regional markets, the Hang Seng Index weakened by 117.83 points (0.49 percent) to 23,702.04, the Nikkei Index was up by 104.29 points (0.67 percent) to 15,658.20 and the Straits Times Index strengthened by 10.20 points (0.32 percent) to 3,234.31. (ebf)(+++)
