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JCI strengthens 0.34% to 5,415
The Jakarta Composite Index (JCI) strengthened by 1842 points or 0
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he Jakarta Composite Index (JCI) strengthened by 1842 points or 0.34 percent to 5,415.28 in Monday's first trading session, sparked by positive expectations ahead of the release of domestic macroeconomic data.
"The JCI continues to strengthen in line with positive expectations for Indonesia's macroeconomic data to be released at the beginning of April," Asjaya Indosurya Securities analyst William Surya Wijaya said Jakarta Monday as quoted by Antara news agency.
Meanwhile, the 45-most liquid stocks (LQ45) index strengthened by 4.68 points (0.50 percent) to 942.18.
William predicted that inflation in March 2015 would remain stable, while Indonesia's trade balance was expected to record a small surplus. On the other hand, financial reports by issuers in the 2014 fiscal year also tended to record growth, he said.
"Such positive expectations have pushed the JCI back onto positive ground. Technically, the JCI index has the potential to head for the 5,444 level," he said.
In a related development, Valbury Asia Securities research section head Alfiansyah said that US Federal Reserve chief Janet Yellen's remarks on her interest-rate hike policy had shadowed the movement of global stock market indexes, including the JCI.
Yellen said the Fed was serious about raising its interest rates and that the hikes would be dependent on economic data. If soon-to-be released data failed to meet expectations, the policy would be readjusted.
"The rate hike in June remains under the Fed's consideration, but there is a 'dovish' stance on the part of the Fed, indicating that the rate hike could be done in September or later," Alfiansyah said. (hhr)
