The Jakarta Composite Index (JCI) on Friday opened on a positive note, strengthening by 0.38 percent to 5,363.98.

In addition, stocks of the blue-chip firms traded on the Indonesia Stock Exchange (IDX), rose by 0.72 percent to 935.59 by 9 a.m on Friday.

Valbury Asia Securities head of research Alfiansyah said that the ceasefire between Russia and Ukraine had created positive sentiment in the financial market, hence improving indexes in the US and across Europe.

'€œThis condition has supported the stock trade in the country amid uncertainty over Greece'€™s debt-issue,'€ Alfiansyah said as quoted by Antara news agency.

He added that the JCI might weaken in the near future due to problems surrounding Greece and its ability to settle its debt.

An analyst from Asjaya Indosurya Securities, William Suryawijaya, added that market players were still optimistic about the future of the country'€™s economy.

'€œThe JCI will still be on an upward trend in the near future and we predict that it will be traded between 5,282 and 5,389 basis points throughout the day,'€ William said.

Unlike the index, the rupiah interbank trade rate in Jakarta on Friday morning continued its depreciation, falling by 41 points to Rp 12,842 per US dollar from Rp 12,801 per US dollar in the earlier trading. (nfo)

Popular

Indonesia sends first direct shipment of frozen durian to China

MR. D.I.Y Indonesia marks 1,200th store opening as the fastest expanding retailer

Southern Indonesia brace for floods, extreme weather as cyclone threat looms