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Jakarta Composite Index opens higher at 5,076
The Jakarta Composite Index (JCI) opened higher on Thursday morning at 5,076
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he Jakarta Composite Index (JCI) opened higher on Thursday morning at 5,076.22 gaining 40.57 points or 0.81 percent. The index of 45 most liquid stocks (LQ-45) followed suit with a 1.19 percent increase to 875.04.
The increase was in line with the stable rupiah exchange rate against the US dollar.
'Fluctuations inthe rupiah exchange rate against the dollar have subsided thanks to the government intervention, which improved market confidence and prevented investors from getting into a panic,' chief researcher of Research Valbury Asia Securities Alfiansyah said as quoted by Antara news agency.
Alfiansyah said a number of measures prepared by the government to maintain the stability of the rupiah exchange rate against the dollar included the repurchase of government bonds in the secondary market.
Another measure was a suggestion by the government that state-owned companies conduct hedging, where the government provided subsidies to allow for fiscal certainty in the event that oil prices or exchange rates fluctuated, he said.
'The various measures are being carried out by the government to prevent panic in the market,' he reiterated. (hhr)
