With a firm belief from investors that Indonesia'€™s economy will grow strong this year and a recent interest rate cut that further spurs investment appetites, the stock market is extending its record streak through 2015 and has registered a new trading record at the week'€™s closing.

The Jakarta Composite Index (JCI) '€” the main price barometer at the Indonesia Stock Exchange (IDX) '€” extended its gains when it rose 0.6 percent to hit a new all-time high at 5,427 on Friday'€™s early trading session and wrapped up the day'€™s trading at 5,400, a new closing record.

The figure broke the previous high, which was made only on the previous trading day on Wednesday, when the index hit 5,390 on the day'€™s closing.

Friday marked the fifth time the index made new record highs in 2015, the first of which was on Jan. 23 when the JCI reached 5,323. The index achieved two more records on Feb. 6 and 9.

Analysts attributed the growth to a positive earning season on the back of investors'€™ belief that the new government would further spur the economy thanks to a number of policies being introduced.

'€œInvestors believe that the country can achieve positive economic growth this year, especially after we had quite a positive result in our trade balance after recording a deficit months before. They also believe that the new government will bring a positive impact to the economy, with some breakthroughs including the move to trim fuel subsidies and to cut red tape,'€ Alfred Nainggolan from Koneksi Kapital said.

He emphasized that the index records were concurrent with the earning season that indicated the positive growth the companies booked all through last year.

'€œThe most important thing, however, is the recent move by Bank Indonesia [BI] to deflate interest rates that has also triggered a positive trend in the bourse. The move is expected to support publicly listed companies to round up better financial results this year,'€ Alfred added.

Asjaya Indosurya analyst William Surya Wijaya echoed Alfred'€™s view, saying that an expected positive economic growth this year and an interest rate cut had helped raised investment appetites.

The central bank announced a cut in the benchmark BI rate, an influential monetary tool that acts as a yardstick for lending and deposits in the economy, by 25 basis points to 7.5 percent on Tuesday, to make room for a loosening of monetary policy to spur economic growth.

Alfred said that good news from heavily indebted Greece that signaled it would extend the current bailout program, which is expected to prevent an unprecedented exit from the eurozone and the European Central Bank'€™s quantitative easing program, had resulted in investment euphoria.

The JCI has grown by 3.31 percent so far in 2014, the third highest in Southeast Asia after the Philippines'€™ PSE Index and Thailand'€™s SET Index. The index has gone up by 2.09 percent month-to-date, reporting the highest monthly growth in the region.

Friday'€™s trading witnessed Rp 886.1 billion in net foreign buys, making a total Rp 7.44 trillion in net foreign transactions so far in 2015. Around 5.36 billion shares worth Rp 5.2 trillion were traded during the day.

Sub-indexes in the stock market ended varied on Friday, with the finance index making the highest daily growth of 0.9 percent and miscellaneous registering the largest decline of 1 percent.

Lenders Bank Rakyat Indonesia (BBRI), Bank Mandiri (BMRI), Bank Tabungan Pensiunan Nasional (BTPN) and Bank Pan Indonesia (BNPN), as well as fashion retailer Matahari Department Store (LPPF), are among the day'€™s top movers.

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